This is another form of whole life insurance. There are many different companies and variations of this coverage ranging from next day, to two or three year waiting periods for those that are not healthy. Final Expense coverage can be obtained through a simplified underwriting process and without having blood drawn or a physical. Final Expense Proceeds are tax free to the Beneficiary and can be used for:
- Funerals and cremations services
- Outstanding debts
- Medical bills
- Additional Cash benefits for the beneficiary.
Many lose life insurance when they retire, most are in group plans and need an individual whole/permanent plan since they are no longer part of the group.
The Social Security administration only pays $255 to a beneficiary at the time of death, as a death benefit, and this must be applied for. Funeral costs are consistently rising and far exceed this benefit so the majority of people add some additional insurance. Final Expense insurance will pay a tax free benefit at time of passing to beneficiaries.
Age requirements vary for carriers, but generally speaking Final expense is available for those aged 50-85.
For more specific details or a quote for a Final Expense plan please use the form below.
Request More Information on Final Expense Insurance
We do not offer every plan available in your area. Any information we provide is limited to those plans we do
offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.