Help Protect yourself
and
your family’s future
What is final expense life
insurance?
Final expense is a smaller permanent life insurance policy typically intended to help older adults cover funeral costs and other end-of-life expenses.
Since coverage amounts are lower than other types of life insurance, like term or permanent insurance, the premiums for a final expense policy tend to be affordable. Coverage amounts can range from a few thousand dollars up to $35,000, in some cases.
Final expense insurance is easy to qualify for, with no medical exam required. As long as you fall between the age limits of 50 to 85 years old, you can often get approved for a policy within days.
01.
What does a final expense life insurance policy do?
Curious about the purpose of final expense life insurance? The definition of final expense includes any policy meant to help ease the financial burdens of your final send-off.
As an older adult, many of life’s biggest expenses are behind you, like paying off a mortgage or saving for a child’s college tuition. But there’s still one big expense to plan for: your funeral. The average funeral could costs more than $9,000 today, burdening loved ones financially while they’re already grieving.
02.
Benefits of final expense insurance
Like other kinds of permanent insurance, final expense insurance builds cash value over time. You can borrow from that cash value during your lifetime or use it as collateral for a loan, giving you another way to help pay for expenses as needed.
Final expense insurance offers guaranteed protection and level premiums, backed by Fidelity Life’s track record of financial strength.
Your family has the flexibility to use the death benefit to pay for burial or funeral costs, medical bills, credit card debt, or anything they choose.
03.
Is final expense insurance right for me?
There are advantages to buying final expense life insurance, including fast approvals and affordable premiums. However, final expense insurance isn’t for everyone. Depending on your health and financial goals, there are alternatives to pay for your funeral and other end-of-life costs, including:
Term life insurance.
Term life is the simplest, most affordable type of life insurance. It offers protection for anywhere from 10 to 30 years, and you can choose how long you want to stay covered. Once that period is up, you’ll need to purchase another policy (usually at a much higher rate) to maintain coverage.Have Question?
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