Final Expense Insurance, aka Burial Insurance, pays for your burial (Funeral) expenses, as well as other debts at the end of your life. Currently, Social Security only pays $255 to your beneficiary upon your death.
Why do I need Burial Insurance?
Funerals are expensive and the price continues to rise. Even without a plot and headstone, the average national price of a funeral is more than $9,000. Most people do not want to leave that burden to their loved one.
What kinds of policies are available?
The two main kinds of Burial Insurance policies are Whole Life (Permanent Insurance) and Term Life (Temporary Insurance). Whole Life policies are more expensive, but cover you until your death, the rate never goes up and the benefit never goes down. As for Term Life policies, they are meant to cover you for a specific term (i.e. 10, 15, 20 years, etc.), and can end before your death.
When should I buy Burial Insurance?
You can purchase a Burial Insurance policy anytime between the Ages of 45-85. Please note the cost of the insurance is lower the younger you are when you purchase a policy.
Is it true that I can’t be turned down?
Yes. There is no medical exam required to buy final expense insurance. So those who have a medical condition that would prevent them from buying regular insurance may want to consider final expense insurance instead.
Total Care Insurance Agency works with top Life carriers, such as, Mutual of Omaha, AIG, Sentinel Security Life, Prosperity Life, Gerber Life, etc.
Tom Schneider is the Owner of Total Care Insurance Agency. He is a licensed agent with over 25+ years experience in the insurance industry.