Final Expense
Final Expense Quote Forms
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Final Expense Information
If end-of-life expenses associated with your passing could place an undue financial burden on the members of your family, final expense coverage could be right for you. Contact Anthony Mercado Agency in Orwigsburg, Pennsylvania, to learn more about final expense coverage.
What Is Final Expense Insurance?
A final expense insurance policy is similar to other types of life insurance in that it can provide a death benefit to your chosen beneficiaries when you pass away. It typically provides a smaller death benefit than traditional life insurance and is intended to help your loved ones pay for costs associated with your death (e.g., medical bills, cremation costs, funeral expenses, and a casket). Depending on your insurer, final expense insurance may also be called funeral insurance or burial insurance.
Benefits of Final Expense Insurance
Final expense insurance is a whole life insurance policy. This means your coverage is designed to last your entire life, as long as you pay your premiums. These policies are generally more affordable and easier to get approved for than standard life insurance.
Policies may vary, but the following list contains examples of additional advantages that may come with owning final expense insurance:
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You may have a level premium, meaning your premium amount won’t increase over time.
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You may be able to get coverage even if you’ve been rejected for traditional life insurance due to your age, health or other factors.
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Your policy generally may not be canceled as long as you pay your premiums.
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You may be able to build cash value with your policy and use it as collateral during your lifetime or borrow from it.
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You may not be required to take a medical exam to receive coverage.
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Your chosen beneficiaries may be able to spend your death benefit however they choose (not just for your final expenses).
Do I Need Final Expense Insurance?
Funeral costs and related expenses are on the rise. If your death could cause financial hardship for your loved ones or you can’t afford traditional life insurance, a final expense insurance policy might be right for you.
The agents at Anthony Mercado Agency are here to answer your insurance questions. Contact us today to learn more about our final expense insurance policies and to get an insurance quote.
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