Frequently Asked Questions
Get answers to common questions about final expense insurance, coverage options, and how we can help you provide financial security for your family.
1. What is final expense insurance and why do I need it?
Final expense insurance is a type of life insurance specifically designed to cover the costs associated with your passing, including funeral expenses, burial costs, medical bills, and other final expenses. You need it to protect your family from the financial burden that can come with end-of-life expenses, which can average $10,000 to $15,000 or more. This insurance ensures your loved ones won't have to worry about covering these costs during an already difficult time.
2. How is final expense insurance different from traditional life insurance?
Final expense insurance is specifically designed for smaller coverage amounts (typically $5,000 to $50,000) to cover end-of-life expenses, while traditional life insurance offers much larger coverage amounts for broader financial protection. Final expense insurance typically has easier qualification requirements, often requires no medical exam, has no waiting period, and is more affordable with lower monthly premiums. It's perfect for seniors and those who want simple, straightforward coverage.
3. Do I need a medical exam to qualify for final expense insurance?
No, most final expense insurance policies do not require a medical exam. The application process is simple and typically involves answering a few health-related questions over the phone. This makes it much easier to qualify, especially for seniors or those with pre-existing health conditions. Coverage can often be approved and start the same day you apply.
4. How much coverage do I need for final expenses?
The amount of coverage you need depends on your specific situation, but most people choose between $10,000 and $25,000. Consider factors like funeral and burial costs in your area, outstanding medical bills, any debts you want to cover, and whether you want to leave additional funds for your family. Our licensed agents can help you determine the right coverage amount based on your needs and budget.
5. Is there a waiting period before coverage begins?
Many final expense insurance policies offer immediate coverage with no waiting period, meaning your coverage begins as soon as your application is approved and your first premium is paid. Some policies may have a graded benefit period for the first two years, but even during this time, your beneficiaries will receive a return of premiums paid plus interest if a claim is made. We'll explain all coverage details before you enroll.
6. How much does final expense insurance cost?
Final expense insurance is very affordable, with monthly premiums typically ranging from $20 to $100 depending on your age, health, and the coverage amount you choose. Premiums are fixed and won't increase as you age, and they remain the same for the life of your policy. We offer flexible payment options and will work with you to find a plan that fits your budget.
7. Can I get coverage if I have pre-existing health conditions?
Yes, many final expense insurance policies are available to people with pre-existing health conditions. Since there's typically no medical exam required, your eligibility is based on answering health questions honestly. Even if you have conditions like diabetes, heart disease, or other health issues, you may still qualify for coverage. Our agents work with multiple carriers to find the best options for your situation.
8. What happens to my policy if I move to a different state?
Your final expense insurance policy travels with you. As long as you continue paying your premiums, your coverage remains in effect regardless of where you live. You don't need to reapply or requalify when you move. Simply update your address with the insurance company to ensure you receive important policy communications and your beneficiaries can be contacted if needed.
9. Who can be named as a beneficiary on my policy?
You can name anyone as your beneficiary, including a spouse, children, other family members, a trust, or even a funeral home. You can also name multiple beneficiaries and specify what percentage each should receive. You have the flexibility to change your beneficiaries at any time by contacting the insurance company. The death benefit will be paid directly to your named beneficiaries, bypassing probate.
10. How quickly will my beneficiaries receive the death benefit?
Once a claim is filed with the required documentation (typically a death certificate), most final expense insurance policies pay out death benefits within 5 to 10 business days. This quick payout ensures your family has immediate access to funds to cover funeral expenses and other final costs without delay. The process is straightforward, and our team can help guide your beneficiaries through the claims process.
11. How do I get started with Your Family Security?
Getting started is easy and takes just a few minutes. Simply call us for a free, no-obligation consultation where we'll discuss your needs, answer all your questions, and help you find the right final expense insurance coverage for your situation. Our licensed agents will guide you through the simple application process, and you can often get approved and covered the same day. All consultations are confidential, and there's no pressure to purchase.
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