What is final expense life insurance?

Email us at [email protected]. Final expense life insurance, also known as burial insurance, is designed to help your beneficiaries cover your funeral and burial costs.

Should I get a final expense insurance policy?

Final expense insurance policies usually offer low coverage amounts, up to $50,000, and don’t require a medical exam. Term life insurance offers much more coverage at a lower cost. If your age or health disqualifies you from getting traditional term coverage, a final expense policy is a good option.

Does a whole life policy expire?

Unlike a term policy, a whole life policy does not expire when you reach a certain age. A whole life policy also accumulates cash value that you can borrow against during your lifetime. Any loans that are unpaid when you die will reduce how much money your beneficiaries receive.