The average final expense policy can cost between $30-$70 a month and depends on other factors, such as age, sex, health, amount of coverage, and the insurance company you choose. If you have significant health conditions or are over the age of 70, your premium will probably be higher and may cost between $70-$120 a month depending on the amount of coverage that you select. Edward Financial Group can cover applicants up to age 89. There are generally no medical exams requirements for Final Expense.
“Edward Financial Group can cover applicants up to age 89”
Edward Financial Group
Younger applicants who are in good health may qualify for rates in the $20-$50 range. Prices are also dependant on the duration of payment. While most plans are lifetime payments there are options to have a policy complete the payment period in a set number of years. Once the payment plan is completed the policy is paid up. You own it with no reduction in benefits. The shorter the pay period generally the higher the premium. Final Expense is a product that you don’t want to just consider price as sometimes the cheaper the rate can mean fewer features and benefits for surviving loved ones. A few extra dollars a month could make a big difference in the support your family receives when you are no longer with them.
Serious Health Conditions
For serious health conditions, Final expense companies offer Policies that do not pay the full-face amount of the coverage in the first two years but they vary wildely in how the benefits are paid. Having an independent agent that specializes in working for you can help you navigate health issues. Some companies will payout if you pass after the intial payment; others will not. The difference can be the difference in taking care of your final expense or not.
We all know that cost is often the #1-factor people focus on…but it’s not the most important factor. Look at how many expenses will be left behind and how much they will cost your family. Common expenses include medical bills, credit card debt, and funeral costs.