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Final Expense and Burial Insurance

Covering the final costs of your life.

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Final Expense Life Insurance differs from other policies in 2 significant ways. 

  It is designed to primarily cover the costs of funerals, burials, and some end-of-life medical bills.  

  People who are in higher-risk health categories can usually obtain Final Expense Life Insurance even if they cannot get approved for traditional life insurance.

Final Expense Life Insurance death benefits are often not higher than $50,000 and are commonly $10,000 or $25,000.  They are also more expensive than traditional Term Life policies.  However, for people who are high-risk and unable to obtain traditional life insurance, Final Expense Life Insurance offers peace of mind that their loved ones will not be burdened with covering expenses from end-of-life bills and the funeral.  A typical 60-year-old male would pay anywhere from $80 to $170 dollars a month for Final Expense Insurance.  

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There are two types of Final Expense Life Insurance.  

The Pros and Cons of Final Expense Insurance

Pros

  • You can obtain Final Expense Insurance even if you are a higher health risk
  • Removes the financial burden from your passing for your loved ones
  • Can be obtained even if you are older
  • It is relatively easy to obtain and can be in force almost immediately

Cons

  • Coverage amounts are low compared to Term Life Insurance
  • Costs more than Term Life Insurance

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