Kim Wilhelm CEO of Final Expense Direct Life Insurance
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Written by Kim Wilhelm

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Last Updated 30 Nov 2021

Getting life insurance as a senior can be difficult if you aren’t in perfect health. Coverage may be limited and it can be expensive.

But if you don’t have life insurance and don’t want to leave your family in a bind to pay for your funeral and medical bills, you should probably consider final expense insurance.

 

At Final Expense Direct, we work with seniors all over the country to get them the best life insurance at an affordable price.
final expense insurance

Not sure what type of coverage you need and how much you should get? Here’s what you should know about getting life insurance as a senior and the types of coverage you can qualify for.

What Is Final Expense Insurance?

Final expense insurance, sometimes called burial insurance or funeral insurance, is a type of life insurance offered to seniors. It covers end-of-life expenses, like medical bills and funeral costs. Final expense insurance is a whole life insurance policy with a small death benefit geared towards seniors who don’t need as much coverage as the younger generations. 


Do I need final expense life insurance?

If you’re retired or near retirement and don’t already have life insurance coverage, you might need final expense insurance. Even if you have life insurance with your employer, you probably can’t take it with you when you retire. If you can, the rate might increase because you are no longer getting group insurance rates. 

Ask yourself this - could your spouse live comfortably if you were to die today? Would your family be able to pay all your end-of-life expenses plus take care of your funeral? If you answered “No” to either of these questions, you probably need final expense insurance.

Free Final Expense Quote

How Does Final Expense Insurance Work?

Let’s say you realize you don’t have enough of a nest egg to not financially burden your family if you were to die today. You call up your insurance agent and find out they offer life insurance. Great, you think. Let’s get started on the application process so I can get insured.

The agent asks you some health questions and gives you a price. The death benefit is the amount you need, but because of your health and age, the cost is really expensive. I can’t afford this, you think to yourself. Now, you ask for a lower death benefit, just enough to cover those final expenses, so you can afford it. Well, they don’t offer a small enough death benefit for your budget. 

Do you give up, or keep trying? Most Americans in your situation would think all insurance companies are like this and you won’t be able to afford life insurance at your age and with your health.

That’s not true! You’re just not looking in the right place.

Final expense life insurance is the answer to what you’re looking for. Even with health issues and your age, you can still qualify for an affordable final expense insurance policy with Final Expense Direct. Not only is it our name, final expense insurance is all we do! We work with hard-working Americans just like you to secure final expense insurance for as little as $10 a month. 

If you’re still on the fence, here’s what you need to know about final expense insurance.


Final Expense Offers Smaller Death Benefits

Most seniors don’t need a lot of life insurance. Your debts are mostly paid off, you don’t have young kids at home anymore, and you’re living your golden years on your pension or retirement income. You don’t have a lot of money to put into life insurance, and most companies only offer coverage for $100,000 or more, which you don’t need.

With final expense life insurance, you get a smaller death benefit at an affordable price, regardless of your health issues. The death benefit amount ranges from $2,000 to $50,000, which is perfect for Americans in your situation.

Now that we found what you’re looking for, here are the different options you can choose from for final expense insurance.


What is Guaranteed Issue Final Expense Insurance?

Guaranteed issue final expense insurance is life insurance without any health questions or medical exam. This is the easiest type of final life expense insurance to get but it’s also the most expensive. 

This final expense insurance policy is best for seniors with serious health issues who can’t get life insurance any other way. Though it is more expensive, if you have serious enough health issues that you require guaranteed issue final expense insurance to pay your end-of-life expenses, it’s your best bet.

Graded Benefit Final Expense Life Insurance

If you buy guaranteed issue end of life insurance, the death benefit might be what’s called a graded benefit. What that means is if you die within the first 2 or 3 years of the policy effective date, your beneficiary won’t get the full death benefit. Instead, they will get the premium you paid returned plus interest, which is usually at a 10% annual rate. 

For example, let’s say so far you paid $1,500 into your $20,000 graded benefit final expense insurance policy and passed away in the first year. Instead of getting $20,000, your beneficiary will get $1,500 plus interest.


Term vs Whole Life

One of the most popular types of life insurance is term life insurance. With term life insurance, you pay for the policy for a set number of years, usually between 10 and 30 years. At the end of the term, the policy cancels and you stop paying but no longer have life insurance coverage.

Now, you’ve outlived your life insurance that you paid into all these years. You’re older, your health might not be the best, and you’re back to needing life insurance.

Whole life insurance–which is what final expense insurance is–doesn’t have a term limit. You get to keep the same death benefit and premium for life. With final expense insurance, you don’t have to worry about needing life insurance in the future. As long as you pay the premium, your beneficiary will get paid when you die.

What are the benefits of end of life insurance?

There are several benefits to buying final expense insurance instead of other life insurance policies. 

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final expense

Final Expense Life Insurance Quote Online

No medical exam

One benefit of final expense insurance is you don’t have to take a medical exam. With other types of life insurance, you have to make an appointment with the lab to take samples of your blood and urine. You also have to answer a bunch of health questions, take your blood pressure, and list all your medications and doctors. 

Then, you have to wait until the results are back and the insurance company has to review them. Your rate could change based on your exam results and it could take weeks to get an answer on if you’re approved or not. 

Lower premiums

When you buy final expense life insurance, you only buy the coverage you need. And because the policy offers a small death benefit, you get to pay lower premiums. If you want to buy final expense insurance from Final Expense Direct, plans start at just $10 per month. Actual rates vary by age, location, and answers to a few health questions. 

Ready to get your final expense life insurance in place? Call us today at 1-877-674-0236. We can get you insured in just one phone call!

Note:  According to a Penn State University study, 99 percent of all term policies never pay out a claim. Contact us to insure your family receives your life insurance money. 

What Questions Will Be Asked On A Final Expense Application?

Since final expense insurance has no medical exam, applying for it only requires answering questions. These questions will help the insurance company assess the risk it is taking by insuring you. This is a quick, easy, and painless process that will get you on your way to a final expense insurance policy you can call your own.


Standard questions

End of life insurance applications have standard questions that you’ll find on any insurance application. The information you provide here will mainly be identifying information confirming that you are the one applying, and not anyone else.

You can expect to provide such information as:

  • Your name
  • Social security number
  • Date of birth
  • Home address
  • Occupation
  • Birthplace 
  • U.S. citizenship status 
  • Occupation and employer name
  • Driver’s license number
  • Phone number
  • Email (if you have one)


You may also have to inform the insurer about your driving record and criminal record.

These questions stand alone from the medical portion. This is the information you’d provide even if you were to get a policy without medical questions.

final expense insurance

Medical questions

This takes your personal health into account when the company is determining your insurability risk. You also have to give the company access to your medical records so that they have proof that you answered honestly. When the insurance company asks you these questions, you’re giving them an idea as to how much life you have left.

Medical questions include:

  • Your prescribed medications
  • Health history along with current health conditions
  • Family medical history
  • Tobacco use
  • Hobbies


What do these questions reveal?

The standard questions primarily confirm your identity, but other relevant details provide a window into the risk the insurer is taking. Your workplace, for instance, may be inherently dangerous, and your premiums may be higher because of the occupational hazards. A driving record indicates the likelihood of getting into an automobile accident in the future. A criminal record lets the insurer get an idea of reckless behavior and impulsivity – both of which do not translate to a longer life.

Your prescribed medications provide an indication of your current health problems, and past illnesses may reveal that you are prone to diseases. Your family history gives an insight into what medical problems you may run into in the near future. Tobacco use will be reflected in your health history, and it has an obvious negative impact on your life expectancy. Hobbies are questioned because some lend themselves to serious injuries and/or premature deaths.

Whatever you think final expense costs...

It's probably less.

No money down • No medical exam

Got an Online Quote from Final Expense Direct - Party Time

Payment flexibility

Another benefit to buying end of life insurance from Final Expense Direct is payment flexibility. You can choose how often you pay:

  • Monthly
  • Quarterly
  • Semi-annually
  • Annually


No matter how you want to pay, there’s a final expense insurance policy ready and waiting for you!

Quick approvals

With traditional life insurance, it can take weeks to get approved. 

  1. Fill out the application.

  2. Complete a phone interview.

  3. Schedule and complete the medical exam.

  4. Allow time for lab results to be reviewed.

  5. Get a decision.


With final expense insurance, you get a quick approval — often the same day! When you get final expense life insurance with Final Expense Direct, we can get you approved in just one phone call! 

Why wait weeks for an approval when you get one in minutes?


Pros and Cons of Final Expense Insurance

Pros of Final Expense Insurance

No Medical Exam

Even if you’re in poor health, life insurance companies make policies available to senior applicants through final expense insurance. These policies don’t require a medical exam and you can often get an instant approval so you don’t have to wait to get covered.

Provide Peace of Mind to Your Loved Ones

Buying final expense insurance now can provide peace of mind to your loved ones. If you were to get into an accident tomorrow and pass away, the final expense insurance can be used to pay for your end-of-life expenses. Now, rather than having a financial burden overshadow their grief, your family can focus on grieving you and eventually moving on with life — without debt.

Cons of Final Expense Insurance

Not All Insurers are Created Equal

Not all insurers are created equal when it comes to final expense life insurance. It takes knowledgeable agents to find the best final expense life insurance policies that will meet the unique needs of each American. Unfortunately, some insurers provide incomplete information about end of life insurance policies.

This can lead to confusion and you may end up with a policy that doesn’t meet your needs. Worse, you could be denied for coverage or end up with a policy you can’t afford. At Final Expense Direct, we have over 35 years of experience and we only offer end of life insurance. We will never provide you incomplete information and you’ll know exactly what is happening every step of the way.

Policies Have Low Death Benefits

Final expense life insurance policies come with a death benefit between $2,000-$50,000. If you need more than that, final expense life insurance may not be the right fit for you. 

Keep in mind, the more life insurance you need, the more you’ll pay. And don’t forget, if you aren’t healthy, you might not be able to afford the coverage you need. Seniors have the least amount of options for life insurance because of their age, so final expense life insurance may be the only option.

If you don't already have life insurance, some coverage is better than none at all.

Some Insurers Try to Steer Consumers Towards the Wrong Policies

Sadly, some insurers are only in life insurance sales for the commission. In these cases, insurers may steer you towards a life insurance policy that isn’t right for you, but gets them a larger commission payout. 

At Final Expense Direct, our agents treat you like family and try and find the best solution for you, not their wallets. Their sole focus is to get you the best final expense life insurance policy you can afford — not what will get them the best commission. 

How to buy final expense insurance?

Some companies make it complicated to buy final expense life insurance.

That’s not the case with Final Expense Direct!

We make it as easy as possible for you to get covered in just one phone call.

  • Immediate Approval Over the Phone Today!
  • Speak to a Live Agent 
  • Just a Few Health Questions 

Here’s how easy it is to buy end of life insurance from Final Expense Direct:

  1. Call us at 1-877-674-0236.
  2. Get connected directly with an agent. No automated systems. No push button bingo.
  3. Decide on a plan. The agent will ask you a few questions about your health so they can find the best final expense life insurance company that meets your needs AND your budget.
  4. Get approval over the phone. After those few initial health questions, there’s no phone interview or medical exam to complete. 


That’s it!! Let our simple 4-step process offer you peace of mind by providing the best protection for you and your loved ones.

Who Are The Best Final Expense Companies in the USA?

Don’t spend hours looking at different companies to find which one offers what you need at the right price. The amount of life insurance companies and types of life insurance policies around are just too great. At Final Expense Direct, we do all the work for you! 

We work with the best life insurance companies offering final expense insurance. In just one phone call, you can get a life insurance policy you can afford to keep. You only have to answer a few questions about your health to get the best policy for you.

Here is just a few of the life insurance companies we work with at Final Expense Direct:

  • Mutual of Omaha

  • The Baltimore Life Companies

  • Foresters

  • Oxford Life Insurance Company

  • Transamerica

  • AIG

  • Prosperity

  • Landmark Life


Final Expense Insurance aka Burial Insurance

Types of Burial Insurance

Burial insurance comes in two forms, simplified issue or guaranteed issue life insurance. With simplified issue, you have a few basic health questions to answer. Guaranteed issue means there are no health questions to answer. Neither type of burial insurance policies require a medical exam.

Free Final Expense Quote

How Much Burial Insurance Can I Get and How Much Does it Cost?

Most insurance companies offer burial insurance coverage in small amounts, usually between $5,000 to $50,000. Even though burial insurance is easy to get, it can be expensive, with guaranteed issue costing more than simplified issue because there are no health questions. 

Rates usually don’t increase, but you have to pay premiums until you die for your beneficiary to get the death benefit.

Costs vary by life insurance company, even for the same type of policy and coverage. If you only need a little bit of life insurance for burial needs, contact us today at Final Expense Direct. We can shop a long list of the best life insurance companies around to get you the best deal on burial insurance. Depending on your health, we can get you burial insurance for as little as $10 a month.

Final Expense Insurance Cost Estimates

$10,000 Male - Simplified Issue Estimated Final Expense Insurance Cost

Male - Age

Low (Liberty Preferred)

High (Baltimore Life)

50

$30.57

$37.08

55

$36.79

$43.65

60

$45.80

$53.01

65

$55.94

$65.16

70

$73.31

$83.88

75

$100.15

$111.06

80

$146.20

$156.06

These quotes are estimates and are based on a month price for standard issue, non-tobacco, simplified issue life insurance. These estimated costs are not an offer for insurance and are only used as an example. To find out how much final expense life insurance will cost you contact Final Expense Direct to get your free quote today. 

$10,000 Female - Simplified Issue Estimated Final Expense Insurance Cost

Female - Age

Low (Liberty Preferred)

High (Baltimore Life)

50

$25.57

$31.41

55

$30.40

$36.09

60

$34.67

$42.66

65

$42.81

$52.02

70

$54.79

$66.06

75

$76.20

$86.67

80

$109.16

$125.10

These quotes are estimates and are based on a month price for standard issue, non-tobacco, guaranteed issue life insurance. These estimated costs are not an offer for insurance and are only used as an example. To find out how much final expense insurance will cost you contact Final Expense Direct to get your free quote today. 

$10,000 Male - Guaranteed Issue Estimated Final Expense Insurance Cost

Male - Age

Low (AIG)

High (Great Western)

50

$40.20

$59.58

55

$41.40

$58.42

60

$50.60

$68.17

65

$60.60

$83.17

70

$76.40

$119.58

75

$103.90

$158.75

80

$142.20

$222.97

These quotes are estimates and are based on a month price for standard issue, non-tobacco, guaranteed issue life insurance. These estimated costs are not an offer for insurance and are only used as an example. To find out how much final expense insurance will cost you contact Final Expense Direct to get your free quote today. 

$10,000 Female - Guaranteed Issue Estimated Final Expense Insurance Cost

Female - Age

Low (AIG)

High (Great Western)

50

$34.20

$49.58

55

$34.70

$56.28

60

$42.20

$66.25

65

$47.20

$80.42

70

$62.40

$102.08

75

$81.40

$138.75

80

$120.60

$190.42

These quotes are estimates and are based on a month price for standard issue, non-tobacco, simplified issue life insurance. These estimated costs are not an offer for insurance and are only used as an example. To find out how much final expense insurance will cost you contact Final Expense Direct to get your free quote today. 

Funeral Insurance May Not Be The Best Choice

Funeral insurance can also be called end of life insurance, but it’s something very different. What funeral insurance really means is a pre-paid funeral plan you set up with a funeral home. It sounds great, but the problem with going through the funeral home directly is they only use one life insurance company. And it’s usually the one that offers them the highest commission, which means it’s going to be more expensive for you.

At Final Expense Direct, we can help you get the best deal on final expense insurance instead of funeral insurance. If you want to pre-plan your funeral, you can put your wishes in your will or tell your beneficiary what you want so they can plan it once you’re gone. Why pay more for funeral insurance when you don’t have to? Keep some money in your pocket instead of giving it to the funeral home.

Funeral Costs

Funeral costs can add up really quick, with the average funeral costing $8,000 or more. With so many deaths from Covid-19, the costs are even higher in 2021. There are a lot of things to consider when planning a funeral, like:

  • How much does a plot cost and where do you want to be laid to rest?

  • Do you want a viewing and a funeral procession?

  • What type of casket do you want?

  • Who will be responsible for planning it?

  • Do you want a grave marker or headstone? What will it say?


There are also all kinds of fees to consider, which can add up. There’s a fee for opening and closing the gravesite, transportation, maintaining the grave, and much more. If you pre-plan your funeral, you can get an idea of how much it will cost to honor your wishes. It can also help you decide how much life insurance you need to pay for it.

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Cremation Cost

If you don’t want to be buried, a cheaper option is cremation. The average cremation with a viewing and funeral service is about $3,500. But the more you add to it, the more expensive it can get. You won’t have to worry about a plot, headstone, grave marker, or casket with a cremation. Urns, or the container that holds your ashes after cremation, can cost less than $100 or several thousand.

There’s also the option for a free cremation, if you don’t want the spectacle of a viewing and funeral. To get a free cremation, you have to fill out paperwork to donate your body to science. Medical students and doctors use bodies to learn procedures and then cremate them when they’re done. This is a great way to honor yourself in death by helping the next generation of doctors gain valuable knowledge. And, it’s the best way to not have to pay for a cremation or funeral!


FAQ About Final Expense Insurance

Does the final expense policy expire?

The final expense policy does not expire as long as you stay current on the payments. Final expense life insurance is a small whole life insurance policy, which is permanent life insurance coverage.


Do I have to take a medical exam?

If you buy final expense insurance from Final Expense Direct, you do not have to take a medical exam. A medical exam for life insurance includes checking your vitals, taking blood and urine samples, and getting a detailed health history to determine if you are eligible for life insurance and at what rating.


How can the death benefit be used?

Though final expense life insurance is marketed as being reserved for end-of-life expenses, the death benefit can be used for anything. Once the insured dies, the beneficiary receives the death benefit. The death benefit can be used to pay for medical bills, funeral expenses, or anything else the beneficiary chooses.


What are Final Expenses Insurance?

Final expense insurance is a term used for small whole life insurance policies that are easier to qualify for. These types of policies are ideal for seniors who only need a little bit of life insurance to pay for funeral costs and end-of-life expenses.

Whatever you think final expense costs...

It's probably less.

No money down • No medical exam

Got an Online Quote from Final Expense Direct - Party Time

What are the Benefits of Final Expense Insurance?

There are several benefits of final expense insurance. It doesn’t expire as long as the premiums are paid. It offers a guaranteed death benefit and does not have to be renewed once issued. Because final expense life insurance is a whole life insurance policy, it can also build cash value which you can get back if you no longer need the policy.

Does Final Expense Life Insurance Have Cash Value?

Most final expense life insurance policies have cash value, but it varies by life insurance company. The cash value is the leftover premium after the death benefit and policy fees are paid. It will build over time and you will get it back if you decide you no longer need the policy and surrender it. 


Is End of Life Insurance Taxable?

Final expense insurance is life insurance. Generally, life insurance proceeds paid to a beneficiary once someone dies is not considered taxable income. 


Are Funeral Expense Tax Deductible?

Funeral expenses are not tax deductible. Certain medical expenses, called qualified medical expenses, are tax deductible. Funeral expenses are not considered qualified medical expenses because they do not prevent or treat an illness or medical condition.


What is the Difference Between Life Insurance and Final Expense?

While there are several types of life insurance, final expense insurance refers to one type of life insurance. Final expense whole life insurance is designed for end-of-life expenses and usually has a small face amount, or death benefit compared to other types of life insurance. 


How much does final expense insurance cost?

Final expense insurance costs vary and are based on your age, location, and your health. Seniors can buy final expense insurance for as little as $10 per month. If you want to find out how much final expense insurance costs for you, call Final Expense Direct today at 1-877-674-0236 to get a quote and approval over the phone.


Can I buy cremation insurance?

Cremation insurance, funeral insurance, and burial insurance are all names used for final expense insurance. You can buy cremation insurance from life insurance companies who offer this type of life insurance. At Final Expense Direct, we work with hundreds of the best final expense life insurance companies. We do all the shopping to find you the best rate for final expense life insurance coverage with one phone call. Call us today at 1-877-674-0236.

Everything You Need To Know About Final Expense Insurance For Seniors

Kim Wilhelm CEO of Final Expense Direct Life InsuranceKim Wilhelm on FacebookKim Wilhelm on LinkedInKim Wilhelm on Twitter

Written by Kim Wilhelm

Kim Wilhelm on FacebookKim Wilhelm on LinkedInKim Wilhelm on Twitter

CEO | Licensed Insurance Agent

CEO | Licensed Agent

Verified!  See guidelines

Verified!  See our editorial guidelines

Last Updated 18 Sep 2021

Getting life insurance as a senior can be difficult if you aren’t in perfect health. Coverage may be limited and it can be expensive. But if you don’t have life insurance and don’t want to leave your family in a bind to pay for your funeral and medical bills, you should probably consider final expense insurance.

 

At Final Expense Direct, we work with seniors all over the country to get them the best life insurance at an affordable price. Not sure what type of coverage you need and how much you should get? Here’s what you should know about getting life insurance as a senior and the types of coverage you can qualify for.

What Is Final Expense Insurance?

Final expense insurance, sometimes called burial insurance or funeral insurance, is a type of life insurance offered to seniors. It covers end-of-life expenses, like medical bills and funeral costs. Final expense insurance is a whole life insurance policy with a small death benefit geared towards seniors who don’t need as much coverage as the younger generations. 

Do I need final expense insurance?

If you’re retired or near retirement and don’t already have life insurance coverage, you might need final expense insurance. Even if you have life insurance with your employer, you probably can’t take it with you when you retire. If you can, the rate might increase because you are no longer getting group insurance rates. 

Ask yourself this – could your spouse live comfortably if you were to die today? Would your family be able to pay all your end-of-life expenses plus take care of your funeral? If you answered “No” to either of these questions, you probably need final expense insurance.

 

How Does Final Expense Insurance Work?

Let’s say you realize you don’t have enough of a nest egg to not financially burden your family if you were to die today. You call up your insurance agent and find out they offer life insurance. Great, you think. Let’s get started on the application process so I can get insured.

The agent asks you some health questions and gives you a price. The death benefit is the amount you need, but because of your health and age, the cost is really expensive. I can’t afford this, you think to yourself. Now, you ask for a lower death benefit, just enough to cover those final expenses, so you can afford it. Well, they don’t offer a small enough death benefit for your budget.

Do you give up, or keep trying? Most Americans in your situation would think all insurance companies are like this and you won’t be able to afford life insurance at your age and with your health.

That’s not true! You’re just not looking in the right place.

Final expense insurance is the answer to what you’re looking for. Even with health issues and your age, you can still qualify for an affordable final expense insurance policy with Final Expense Direct. Not only is it our name, final expense insurance is all we do! We work with hard-working Americans just like you to secure final expense insurance for as little as $10 a month. 

If you’re still on the fence, here’s what you need to know about final expense insurance.

Free Final Expense Quote

Final Expense Offers Smaller Death Benefits

Most seniors don’t need a lot of life insurance. Your debts are mostly paid off, you don’t have young kids at home anymore, and you’re living your golden years on your pension or retirement income. You don’t have a lot of money to put into life insurance, and most companies only offer coverage for $100,000 or more, which you don’t need.

With final expense insurance, you get a smaller death benefit at an affordable price, regardless of your health issues. The death benefit amount ranges from $2,000 to $50,000, which is perfect for Americans in your situation.

Now that we found what you’re looking for, here are the different options you can choose from for final expense insurance.

What is Guaranteed Issue Final Expense Insurance?

Guaranteed issue final expense insurance is life insurance without any health questions or medical exam. This is the easiest type of final expense insurance to get but it’s also the most expensive. 

This final expense insurance policy is best for seniors with serious health issues who can’t get life insurance any other way. Though it is more expensive, if you have serious enough health issues that you require guaranteed issue final expense insurance to pay your end-of-life expenses, it’s your best bet.

Also See:  Can you REALLY Get Final Expense Insurance for $9.95 Per Month?

Graded Benefit Final Expense Insurance

If you buy guaranteed issue final expense insurance, the death benefit might be what’s called a graded benefit. What that means is if you die within the first 2 or 3 years of the policy effective date, your beneficiary won’t get the full death benefit. Instead, they will get the premium you paid returned plus interest, which is usually at a 10% annual rate. 

For example, let’s say so far you paid $1,500 into your $20,000 graded benefit final expense insurance policy and passed away in the first year. Instead of getting $20,000, your beneficiary will get $1,500 plus interest.

Term vs Whole Life

One of the most popular types of life insurance is term life insurance. With term life insurance, you pay for the policy for a set number of years, usually between 10 and 30 years. At the end of the term, the policy cancels and you stop paying but no longer have life insurance coverage.

Now, you’ve outlived your life insurance that you paid into all these years. You’re older, your health might not be the best, and you’re back to needing life insurance.

Whole life insurance–which is what final expense insurance is–doesn’t have a term limit. You get to keep the same death benefit and premium for life. With final expense insurance, you don’t have to worry about needing life insurance in the future. As long as you pay the premium, your beneficiary will get paid when you die.

What are the benefits of final expense insurance?

There are several benefits to buying final expense insurance instead of other life insurance policies. 

No medical exam

One benefit of final expense insurance is you don’t have to take a medical exam. With other types of life insurance, you have to make an appointment with the lab to take samples of your blood and urine. You also have to answer a bunch of health questions, take your blood pressure, and list all your medications and doctors. 

Then, you have to wait until the results are back and the insurance company has to review them. Your rate could change based on your exam results and it could take weeks to get an answer on if you’re approved or not. 

Lower premiums

When you buy final expense insurance, you only buy the coverage you need. And because the policy offers a small death benefit, you get to pay lower premiums. If you want to buy final expense insurance from Final Expense Direct, plans start at just $10 per month. Actual rates vary by age, location, and answers to a few health questions. 

Ready to get your final expense life insurance in place? Call us today at 1-877-674-0236. We can get you insured in just one phone call!

Absolutely

no Money Down • No Medical Exams

Get final expense with 0 hassle.  Call today: 1-877-674-0236

What Questions Will Be Asked On A Final Expense Application?

Since final expense insurance has no medical exam, applying for it only requires answering questions. These questions will help the insurance company assess the risk it is taking by insuring you. This is a quick, easy, and painless process that will get you on your way to a final expense insurance policy you can call your own.

Standard questions

Final expense insurance applications have standard questions that you’ll find on any insurance application. The information you provide here will mainly be identifying information confirming that you are the one applying, and not anyone else.

You can expect to provide such information as:

  • Your name
  • Social security number
  • Date of birth
  • Home address
  • Occupation
  • Birthplace 
  • U.S. citizenship status 
  • Occupation and employer name
  • Driver’s license number
  • Phone number
  • Email (if you have one)

You may also have to inform the insurer about your driving record and criminal record.

These questions stand alone from the medical portion. This is the information you’d provide even if you were to get a policy without medical questions.

Medical questions

This takes your personal health into account when the company is determining your insurability risk. You also have to give the company access to your medical records so that they have proof that you answered honestly. When the insurance company asks you these questions, you’re giving them an idea as to how much life you have left.

Medical questions include:

  • Your prescribed medications
  • Health history along with current health conditions
  • Family medical history
  • Tobacco use
  • Hobbies

What do these questions reveal?

The standard questions primarily confirm your identity, but other relevant details provide a window into the risk the insurer is taking. Your workplace, for instance, may be inherently dangerous, and your premiums may be higher because of the occupational hazards. A driving record indicates the likelihood of getting into an automobile accident in the future. A criminal record lets the insurer get an idea of reckless behavior and impulsivity – both of which do not translate to a longer life.

Your prescribed medications provide an indication of your current health problems, and past illnesses may reveal that you are prone to diseases. Your family history gives an insight into what medical problems you may run into in the near future. Tobacco use will be reflected in your health history, and it has an obvious negative impact on your life expectancy. Hobbies are questioned because some lend themselves to serious injuries and/or premature deaths.

Whatever you think final expense costs…

It’s probably less.

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No money down • No medical exam

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Payment flexibility

Another benefit to buying final expense insurance from Final Expense Direct is payment flexibility. You can choose how often you pay:

  • Monthly

  • Quarterly

  • Semi-annually

  • Annually

No matter how you want to pay, there’s a final expense insurance policy ready and waiting for you!

Quick approvals

With traditional life insurance, it can take weeks to get approved. 

  1. Fill out the application.

  2. Complete a phone interview.

  3. Schedule and complete the medical exam.

  4. Allow time for lab results to be reviewed.

  5. Get a decision.

With final expense insurance, you get a quick approval — often the same day! When you get final expense insurance with Final Expense Direct, we can get you approved in just one phone call! 

Why wait weeks for an approval when you get one in minutes?

 

Pros and Cons of Final Expense Insurance

Pros of Final Expense Insurance

No Medical Exam

Even if you’re in poor health, life insurance companies make policies available to senior applicants through final expense insurance. These policies don’t require a medical exam and you can often get an instant approval so you don’t have to wait to get covered.

Provide Peace of Mind to Your Loved Ones

Buying final expense insurance now can provide peace of mind to your loved ones. If you were to get into an accident tomorrow and pass away, the final expense insurance can be used to pay for your end-of-life expenses. Now, rather than having a financial burden overshadow their grief, your family can focus on grieving you and eventually moving on with life — without debt.

Also See:  $50,000 of Coverage for $30/month from Globe Life: FACT OR FICTION

Cons of Final Expense Insurance

Not All Insurers are Created Equal

Not all insurers are created equal when it comes to final expense insurance. It takes knowledgeable agents to find the best final expense life insurance policies that will meet the unique needs of each American. Unfortunately, some insurers provide incomplete information about final expense insurance policies.

This can lead to confusion and you may end up with a policy that doesn’t meet your needs. Worse, you could be denied for coverage or end up with a policy you can’t afford. At Final Expense Direct, we have over 35 years of experience and we only offer final expense insurance. We will never provide you incomplete information and you’ll know exactly what is happening every step of the way.

Policies Have Low Death Benefits

Final expense life insurance policies come with a death benefit between $2,000-$50,000. If you need more than that, final expense life insurance may not be the right fit for you. 

Keep in mind, the more life insurance you need, the more you’ll pay. And don’t forget, if you aren’t healthy, you might not be able to afford the coverage you need. Seniors have the least amount of options for life insurance because of their age, so final expense life insurance may be the only option.

If you don’t already have life insurance, some coverage is better than none at all.

Some Insurers Try to Steer Consumers Towards the Wrong Policies

Sadly, some insurers are only in life insurance sales for the commission. In these cases, insurers may steer you towards a life insurance policy that isn’t right for you, but gets them a larger commission payout. 

At Final Expense Direct, our agents treat you like family and try and find the best solution for you, not their wallets. Their sole focus is to get you the best final expense life insurance policy you can afford — not what will get them the best commission. 

  • Immediate Approval Over the Phone Today!
  • Speak to a Live Agent 
  • Just a Few Health Questions 

Call Us Today:

1-877-674-0236

How to buy final expense insurance?

Some companies make it complicated to buy final expense insurance. That’s not the case with Final Expense Direct! We make it as easy as possible for you to get covered in just one phone call.

Here’s how easy it is to buy final expense life insurance from Final Expense Direct:

  1. Call us at 1-877-674-0236.
  2. Get connected directly with an agent. No automated systems. No push button bingo.
  3. Decide on a plan. The agent will ask you a few questions about your health so they can find the best final expense life insurance company that meets your needs AND your budget.
  4. Get approval over the phone. After those few initial health questions, there’s no phone interview or medical exam to complete. 

That’s it!! Let our simple 4-step process offer you peace of mind by providing the best protection for you and your loved ones.

 

Who Are The Best Final Expense Companies in the USA?

Don’t spend hours looking at different companies to find which one offers what you need at the right price. The amount of life insurance companies and types of life insurance policies around are just too great. At Final Expense Direct, we do all the work for you! 

We work with the best life insurance companies offering final expense insurance. In just one phone call, you can get a life insurance policy you can afford to keep. You only have to answer a few questions about your health to get the best policy for you.

Here is just a few of the life insurance companies we work with at Final Expense Direct:

  • Mutual of Omaha

  • The Baltimore Life Companies

  • Foresters

  • Oxford Life Insurance Company

  • Transamerica

  • AIG

  • Prosperity

  • Landmark Life

 

Final Expense Insurance aka Burial Insurance

Types of Burial Insurance

Burial insurance comes in two forms, simplified issue or guaranteed issue life insurance. With simplified issue, you have a few basic health questions to answer. Guaranteed issue means there are no health questions to answer. Neither type of burial insurance policies require a medical exam.

Free Final Expense Quote

How Much Burial Insurance Can I Get and How Much Does it Cost?

Most insurance companies offer burial insurance coverage in small amounts, usually between $5,000 to $50,000. Even though burial insurance is easy to get, it can be expensive, with guaranteed issue costing more than simplified issue because there are no health questions. Rates usually don’t increase, but you have to pay premiums until you die for your beneficiary to get the death benefit.

Costs vary by life insurance company, even for the same type of policy and coverage. If you only need a little bit of life insurance for burial needs, contact us today at Final Expense Direct. We can shop a long list of the best life insurance companies around to get you the best deal on burial insurance. Depending on your health, we can get you burial insurance for as little as $10 a month.

Funeral Insurance May Not Be The Best Choice

Funeral insurance can also be called final expense insurance, but it’s something very different. What funeral insurance really means is a pre-paid funeral plan you set up with a funeral home. It sounds great, but the problem with going through the funeral home directly is they only use one life insurance company. And it’s usually the one that offers them the highest commission, which means it’s going to be more expensive for you.

At Final Expense Direct, we can help you get the best deal on final expense insurance instead of funeral insurance. If you want to pre-plan your funeral, you can put your wishes in your will or tell your beneficiary what you want so they can plan it once you’re gone. Why pay more for funeral insurance when you don’t have to? Keep some money in your pocket instead of giving it to the funeral home.

Absolutely

no Money Down • No Medical Exams

Get final expense with 0 hassle.  Call today: 1-877-674-0236

Funeral Costs

Funeral costs can add up really quick, with the average funeral costing $8,000 or more. With so many deaths from Covid-19, the costs are even higher in 2021. There are a lot of things to consider when planning a funeral, like:

  • How much does a plot cost and where do you want to be laid to rest?

  • Do you want a viewing and a funeral procession?

  • What type of casket do you want?

  • Who will be responsible for planning it?

  • Do you want a grave marker or headstone? What will it say?

There are also all kinds of fees to consider, which can add up. There’s a fee for opening and closing the gravesite, transportation, maintaining the grave, and much more. If you pre-plan your funeral, you can get an idea of how much it will cost to honor your wishes. It can also help you decide how much life insurance you need to pay for it.

Cremation Cost

If you don’t want to be buried, a cheaper option is cremation. The average cremation with a viewing and funeral service is about $3,500. But the more you add to it, the more expensive it can get. You won’t have to worry about a plot, headstone, grave marker, or casket with a cremation. Urns, or the container that holds your ashes after cremation, can cost less than $100 or several thousand.

There’s also the option for a free cremation, if you don’t want the spectacle of a viewing and funeral. To get a free cremation, you have to fill out paperwork to donate your body to science. Medical students and doctors use bodies to learn procedures and then cremate them when they’re done. This is a great way to honor yourself in death by helping the next generation of doctors gain valuable knowledge. And, it’s the best way to not have to pay for a cremation or funeral!

Whatever you think final expense costs…

It’s probably less.

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No money down • No medical exam

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FAQ About Final Expense Insurance

Does the final expense policy expire?

The final expense policy does not expire as long as you stay current on the payments. Final expense life insurance is a small whole life insurance policy, which is permanent life insurance coverage.

Do I have to take a medical exam?

If you buy final expense insurance from Final Expense Direct, you do not have to take a medical exam. A medical exam for life insurance includes checking your vitals, taking blood and urine samples, and getting a detailed health history to determine if you are eligible for life insurance and at what rating.

How can the death benefit be used?

Though final expense life insurance is marketed as being reserved for end-of-life expenses, the death benefit can be used for anything. Once the insured dies, the beneficiary receives the death benefit. The death benefit can be used to pay for medical bills, funeral expenses, or anything else the beneficiary chooses.

What are Final Expenses Insurance?

Final expense insurance is a term used for small whole life insurance policies that are easier to qualify for. These types of policies are ideal for seniors who only need a little bit of life insurance to pay for funeral costs and end-of-life expenses.

What are the Benefits of Final Expense Insurance?

There are several benefits of final expense insurance. It doesn’t expire as long as the premiums are paid. It offers a guaranteed death benefit and does not have to be renewed once issued. Because final expense life insurance is a whole life insurance policy, it can also build cash value which you can get back if you no longer need the policy.

DoesFinal Expense Insurance Have Cash Value?

Most final expense life insurance policies have cash value, but it varies by life insurance company. The cash value is the leftover premium after the death benefit and policy fees are paid. It will build over time and you will get it back if you decide you no longer need the policy and surrender it. 

Is Final Expense Insurance Taxable?

Final expense insurance is life insurance. Generally, life insurance proceeds paid to a beneficiary once someone dies is not considered taxable income. 

Are Funeral Expense Tax Deductible?

Funeral expenses are not tax deductible. Certain medical expenses, called qualified medical expenses, are tax deductible. Funeral expenses are not considered qualified medical expenses because they do not prevent or treat an illness or medical condition.

What is the Difference Between Life Insurance and Final Expense?

While there are several types of life insurance, final expense insurance refers to one type of life insurance. Final expense whole life insurance is designed for end-of-life expenses and usually has a small face amount, or death benefit compared to other types of life insurance. 

How much does final expense insurance cost?

Final expense insurance costs vary and are based on your age, location, and your health. Seniors can buy final expense insurance for as little as $10 per month. If you want to find out how much final expense insurance costs for you, call Final Expense Direct today at 1-877-674-0236 to get a quote and approval over the phone.

Can I buy cremation insurance?

Cremation insurance, funeral insurance, and burial insurance are all names used for final expense insurance. You can buy cremation insurance from life insurance companies who offer this type of life insurance. At Final Expense Direct, we work with hundreds of the best final expense life insurance companies. We do all the shopping to find you the best rate for final expense life insurance coverage with one phone call. Call us today at 1-877-674-0236.

Related:

The Lord Is Calling Me Home – What Happens If You Die With No Money And No Life Insurance?