Final expense life insurance coverage is sometimes known as burial coverage or burial final expense insurance. Whatever it's called, it can prevent unnecessary stress for your family. Do you know who is going to pay for your funeral? Do they know how they will afford to pay for it? As you can see from the infographic on the left, the average funeral in America costs over $7,000. This is one way to take the financial stress out of an otherwise stressful situation. Protect your family with final expense life insurance.
We find that people buy final expense life insurance for many different reasons.
There are some companies that mail order final expense life insurance plans. Be wary. Read the small print. Some of them have premiums that increase every five years, so by the time you are in your seventies and eighties, the coverage is no longer affordable. Some of them have policies that end at age eighty.
It's almost impossible to find accurate quotes on the internet for this type of coverage. Most insurance calculators are for term life only. We don't suggest you try to find prices on your own.
The best idea is to talk to an independent agent. Your agent will find you the best policy or policies to fit your needs. Your agent will have access to many different companies when quoting your insurance. They will help you find the lowest cost policy where the company is likely to approve you.
Looking for $15,000 of insurance? It looks like a whole life policy will fit, but if you are willing to go for full underwriting, maybe you can get $25,000 or a bit more of coverage for the same premium. Ask your agent, as the universal policies have stricter underwriting criteria.
Tell your agent the truth! That way nobody has any surprises...like a decline or a postponement! Your agent will be able to find you the best company to apply with if they know your situation. They can give you quotes from multiple carriers and tell you why one may be better for you than another.
Find an agent that specializes in senior life insurance. They will know the carriers, the plans, the differences between carrier underwriting guides. Let them help you find the right product. There is no extra cost for using an agent. As a matter of fact, most companies will not let you apply directly.
Use your agent's experience, knowledge and expertise to get the best final expense life insurance for you!