Simplified Issue Final Expense

Simplified issue final expense is a type of permanent life insurance policy. It’s one of the easiest policies to qualify for, offering important coverage to those who need it. So, what is simplified issue final expense, and who needs it?

Simplified Issue Final Expense Insurance Explained

When you purchase a simplified issue final expense policy, it lasts your lifetime. As long as you keep up with your monthly premium payments, it stays permanent. You’re covered, then, until you pass away.

Your simplified issue final expense policy is focused on the death benefit. This is a sum of money issued when you, as the policyholder, pass away. You come into a contract with your insurance provider—you agree to pay the premiums, and they decide to give you a death benefit in exchange.

Since you won’t be around to receive the death benefit, you get to choose who you would like to receive it, called your beneficiaries. They’ll use it on your behalf for your end-of-life costs, particularly funeral arrangement costs and other things, such as credit card payments, estate taxes, and anything else you choose.

A simplified issue policy death benefit can range anywhere from $2,000 to $35,000. You and your beneficiaries can ultimately decide to use this money on anything you like.

Simplified Issue Eligibility

The most notable feature of simplified issue final expense is eligibility—unlike almost every other life insurance policy, you can still qualify if you’re older and in poorer health.

You can be up to 85 years old and still qualify. And, unlike other policies, you don’t need a medical examination to prove your eligibility. Instead, you get to skip that and fill out a short questionnaire on your basic health status. Most will easily qualify even if you have existing conditions such as diabetes. 

If you have serious health concerns, you can still enroll in a final expense policy, just not simplified issue final expense. Instead, you’ll want to look into modified issue final expense insurance.

How it Compares and Who Needs it

Compared to other life insurance policies, final expense has a notably smaller death benefit. However, it is one of the best policies to enroll in for an otherwise ineligible group of people. Everyone deserves their best coverage—that’s what final expense provides.

Taking You Where You Want to Go—Call Us Today

With the help of The Memorial Insurance Group, you can get the coverage you need and feel confident about it, too. To learn more about your options, contact us today!

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