Final Expense
The death of a loved one is the hardest thing we must ever face. In addition, surviving family members are often left to pay any final medical bills and funeral costs. These expenses can add unnecessary stress for friends and family of the deceased.
Introducing final expense life insurance — an affordable way to avoid this added pressure. The Memorial Insurance Group will answer questions about final expense so you can decide if it’s best for you.
Let’s find the coverage that’s right for you.
What Is Final Expense?
Final expense is a whole life insurance policy meant for seniors to cover medical bills and funeral expenses after they pass away. It’s also called burial insurance or funeral insurance.
If you haven’t experienced it yet, you will experience the death of a loved one and the stress that comes along. It can be hard to manage grief, the funeral planning, and all your financial responsibilities. Don’t let your spouse or children go through this same experience — we can help you and your family with an affordable final expense policy.
Policy Features
Most coverage programs include these features:
- Affordable coverage options
- Simple application process
- Usually no medical exam is required
- Coverage decisions may be available quickly
- Premiums designed to remain level for the life of the policy
Coverage amounts are generally available from $1,000 up to $35,000, depending on policy, carrier, age and eligibility.
Important note: Not all policies are identical, so you’ll want to carefully review the benefits.
How Much Does a Policy Cost?
The cost of final expense life insurance varies from person to person. Your premium is based on several factors, including:
- Your age
- Your gender
- Your health
- The amount of coverage you select
- The insurance policy you qualify for
Because every applicant is different, the best way to understand your cost is to review the coverage options available based on your individual needs and eligibility.
Our experienced agents can help you compare available options and find coverage that fits your needs and budget.
Is Final Expense Insurance Right for You?
Whether you find a policy is worth it depends on your situation. If you do not already have money saved to help your family handle your funeral, medical, or other expenses after you pass away, final expense insurance can be a good option.
There are limitations to having your estate or Social Security pay for your funeral. Plus, relying on your will to cover end-of-life costs can be hard on your family — because it’s usually read after the funeral and can take a long time to be settled. Social Security makes a one-time death payment of $255 to qualifying seniors, which is MUCH less than the typical cost of a funeral.
Final expense life insurance can give your family access to thousands of dollars right after your death — with no waiting periods — so they can pay for expenses as quickly as possible.
One simple application. Multiple options. We’ll help you find the coverage that fits you best.
Want additional information about Final Expense Insurance?
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