How Can I Buy Final Expense for My Parents?

Buying final expense insurance for your parents is a serious decision that requires careful planning and helpful insight. To get you on the right track, here are 6 steps you can follow.

Step 1: Have a Heart-To-Heart with Them

It is incredibly important to be fully upfront with your parents. Even if they are suffering from a mental condition like dementia or Alzheimer’s, taking the time to sit down and talk things over can relieve a lot of tension on both ends. 

And, for step 5, you will need them to sign off on the policy before you can officially purchase it. So, you’re going to need to let them know one way or another. Doing it early on can tremendously help through every step, and make difficult discussions a lot easier.

Step 2: Determine the Coverage They Will Need

When you purchase a final expense policy, you are purchasing a death benefit. This is a sum of money that is issued upon the policyholder’s death. This benefit ranges anywhere from $2,000 to $50,000.

Decide on either you or your parents’ budget. The more coverage you purchase, the more your plan will cost. Their age and health will affect the cost as well. Just make sure to establish a clear budget that works for all parties involved.

Step 3: Make Funeral and Other Arrangements

Deciding on the amount of coverage also means you should decide on what they want covered. Most people, for instance, use their final expense policies to pay for funeral arrangements. To better determine the amount of necessary coverage, plan out these expenses with them ahead of time—that way, you know exactly how much you need when looking for a policy.

Step 4: Decide Who Will Pay For the Policy

This step varies greatly depending on the situation. If you are planning to purchase final expense insurance for your parents, you may have likely already made plans to pay for it yourself and are likely the recipient beneficiary as well. This is not always the case, so be sure to talk to potential insurers about whether or not you intend to pay for the policy.

On the other hand, perhaps you are purchasing final expense insurance on behalf of your parents. In other words, they have already made plans to pay for it, but you are just going through the process of finding the right policy. Whatever the case may be, make sure to have discussed it with your parents ahead of time.

Step 5: Get Their Consent and Sign Up

Finally, after you’ve found the perfect policy, all that’s left to do is officially sign up. You will have to have your parents’ full consent before doing so. More often than not, all this takes is a simple signature. Do not attempt to forge their consent, however, because doing so may disqualify you and them from the policy.

Step 6: Call Final Expense Direct

If you are looking for the easiest way to find insurance for your parents, Final Expense Direct can help. We specialize in over-the-phone consultations to give you quick and effective results. To get started, give us a call at 1-877-674-0236.

Get a free Quote


Products and services are provided exclusively by the providers. Descriptions are for informational purposes only and subject to change. Insurance plans may not be available in all states. By submitting your phone number, you are giving Final Expense Direct permission to communicate with you via phone call, automatically-sent text message, and/or email.

We are not connected with or endorsed by the United States government or the federal Medicare program.