Final expense insurance is more affordable than many other insurance policies. Because it is typically used to cover funeral costs, the coverage amount is usually much smaller than traditional policies. On average, people insure themselves for $10,000 – $30,000, making the premiums for a final expense policy more affordable than larger policies.
Because the coverage amount is lower than other types of life insurance, some final expense policies do not require a medical exam to qualify. Most policies can be issued based on answers to health questions on the life insurance application. Most life insurance policies are not designed to specifically address the many costs family members pay when preparing for a funeral.
Final expense insurance is a form of whole life policy. For most traditional whole life policies, the death benefit and the insurance premium remain the same for the life of the policy. Most whole life policies last for the life of the policyholder, and some accumulate cash value.
A good deal can also be determined by having a good indepdanent agency that works for you and not the insurance company. Multiple companies insures that insured gets the best value for their dollar. Edward Financial group is one such agency.
Examine your needs, Final expense life insurance can supplement your primary coverage or provide your total final expenses need. It will be worth it if it meets your needs and your beneficiary, and you can afford it.