One misconception is that Final expense is only for seniors because it is affordable, usually offers a no-medical exam qualification, and can help with planning certain aspects of their final arrangements (selecting a funeral home, flowers, music, etc.). But this type of insurance isn’t just for seniors.
If you are a veteran, $2000 is the max for service-related death and as little as $300 otherwise. Medicaid can allow up to $1,500 and Social Security provides $255. Remember, a will is read after the funeral, thus expenses have incurred.
“If you are a veteran, $2000 is the max for service-related death and as little as $300 otherwise.”Edward Financial Group Bottom line, if you are over 40 and need money to cover your end-of-life expenses, final expense life insurance is a perfect fit. Anyone concerned about leaving their loved ones unprepared when they pass should consider taking out a life insurance policy on themselves. Children can also buy life insurance for their parents.
Those that are independently wealthy or have enough set aside in savings, may not need final expense insurance.
Just know that individuals over the age of 85, in hospice care, or currently hospitalized may not be able to qualify. Certain health conditions such as a terminal illness may also prevent you from qualifying. Final Expense Life Insurance gives you the ability to have funds available when your family needs it the most. When the need arise, this type of Life insurance is going to provide your family a priceless peace of mind and financial stability.
“If you are a veteran, $2000 is the max for service-related death and as little as $300 otherwise.”
Edward Financial Group