A Plan for Every Possibility
Choosing the right Final Expense policy begins by asking a simple question: What matters most to you? You may want to protect your existing assets, lessen any financial burden that a funeral would be on your loved ones, or simply to ensure that your final obligations are handled. We can help you understand the process and the types of Final Expense products:
Final Expense Level policies are closest to a traditional Whole Life policy, with higher available policy values and lower premiums if qualified. Often these policies do not have a waiting period before benefits are in effect. Requires health qualification for underwriting.
Final Expense coverage is a specialized type of life insurance. Final Expense policies offer a lower coverage amount compared to other types of life insurance, because they are targeted at relieving the burden of end-of-life expenses. The value of the policy is lower than with traditional life insurance, but they are easier to qualify for, often requiring minimal or no medical underwriting.
Most people over 50 are able to apply for a Final Expense policy. When you apply, you will not have to have a medical exam or grant access to your medical records. However, for some policies you will need to answer some health questions. Because of the health questions, not everyone will qualify for a policy with coverage that begins on day one. The premiums for Final Expense coverage depend on age and health; where allowed by state law, they may also depend on your gender. Many Final Expense policies have an upper age limit of 85, which is higher than for some traditional life insurance policies.
You could apply for a Final Expense policy at nearly any age, depending on the insurance company. Many opt to apply for Final Expense coverage between the ages of 50 and 75, but some apply up to age 85 — you may apply at any time.
Finding a policy can be done online, but with the huge number of choices you might want some guidance with locating the coverage that fits your needs. PlanEnroll can help. Contact us to learn more.