Final Expense | Up North Medicare
If you are unable to purchase traditional life insurance, final expense insurance may be a noteworthy option for you to consider. Our catalog of final expense insurance products can provide your loved ones with the money they need to carry out your funeral and pay off any lingering health care bills. This is what you need to know about final expense insurance.
Final expense insurance is a life insurance product that covers a broader range of people than traditional life insurance products. Final expense policies also offer smaller death benefits than other life insurance plans, making them ideal for covering burial costs and other end of life expenses. These plans are easy to find, and they are much easier to qualify for than other life insurance plans.
To purchase final expense insurance, you must first answer some basic medical questions. Using your answers, the insurance company will decide if you qualify and determine your rates if you do. To get the best assortment of benefits at a reasonable cost, we suggest that you shop with the help of a qualified insurance agent.
The average burial costs around $9,000 and a cremation is only a few thousand less at $5,150. With this expense in mind, you should plan for your funeral in advance. Final expense insurance is best for people who don’t have significant savings on hand. It can also be used to supplement other life insurance policies, providing additional funds for your loved ones upon your death. The death benefit can be used for anything, so it is certain to be beneficial if you arrange for more money.
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Final expense insurance does not offer as substantial coverage as traditional life insurance options. Therefore, you can expect these plans to offer death benefit amounts ranging between $10,000 and $50,000. This money should be sufficient to conduct the average funeral and cover any expenses that remain following your death.
Final expense insurance has much lower requirements, so it is often relatively expensive compared to other life insurance products. On average, you can expect to pay between $30 and $70 for final expense insurance. Costs may vary depending on your answers to the insurer’s medical questions.
If you have a chronic condition or disability that would eliminate you from qualifying for final expense insurance normally, you can find final expense policies that will accept you. These plans are called guaranteed issue right plans, and they accept all applicants. The costs are much higher than normal final expense plans, so you should only invest in this type of insurance if you don’t have other options.
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If you are approaching the end of your life, final expense insurance can provide an extra layer of protection for your loved ones. To find the best possible plan, you need to consider all your options.
If you have questions or are in need of a non-bias opinion, our professionals will help you compare your final expense options.
