Final Expense Insurance

What Is Final Expense Insurance?

Final expense life insurance is a type of permanent life insurance where the death benefit is used to cover medical costs and other end-of-life expenses, most often funeral costs including services like burial or cremation, items like caskets and urns, and more.

Permanent life insurance does not expire and remains in force for as long as the premiums are paid. If you purchase final expense insurance, as long as you continue to pay the premiums, the policy will be in effect until you die and your beneficiaries will receive the death benefit.

Unlike traditional life insurance policies, which require a medical exam to help set the cost of your policy, final expense policies like a burial insurance policy don’t require such in-depth research and applicants will often be insured after answering only a few questions.

Guaranteed Issue Life

Guaranteed issue policies ask just a few knockout questions to make sure you don’t currently have a terminal illness but otherwise will cover high-risk individuals. Because of this, it’s more expensive than simplified whole life and offers lower maximum coverage amounts, typically at or below $25,000.

Simplified Issue Life

Simplified issue life insurance is for people who may not qualify for fully underwritten life insurance policy, but are considered only moderate risk. You’ll have to answer a detailed medical questionnaire, but there’s no medical exam involved. This is your best bet for getting a life insurance policy affordably with coverage up to $50,000. →

Why Crestway Group

The Crestway Group (CWG) can help you design and customize a Final Expense Insurance plan especially for you or a family member. Contact a team member in our Personal Lines Division to ask about assisting you in obtaining a coverage plan that will help with ease the burden of when your gone without leaving huge bills from medical and other costs.