Burial Insurance Topics
What Factors Should I Consider When Buying Final Expense Insurance?
So, you’ve decided to buy some final expense insurance – well done, that’s a good start, but now you need to know exactly what to take into consideration when finding the right policy for your needs. Everybody’s needs might be different but there are some things which you do need to think about to make sure that you get exactly what you think you’re paying for.
Tips on Buying Final Expense Insurance
- Don’t wait too long. Premiums can only get higher, you might feel like you’ve got plenty more years in you yet but don’t delay, save a little cash and act now.
- You might have difficulty in finding a final expense insurance policy who will have you at all after the age of 85 years so don’t wait too long!
- If you opt to buy final expense insurance through a funeral home, it’s important that they are not the named beneficiary
- Find out if your policy is an immediate benefit funeral policy or graded – which can delay pay out of the full benefit
- Make sure that your final expense insurance policy is sufficient to cover all of your funeral expenses
- Look into all options. You might find that you are eligible for a group life insurance plan which could be more beneficial
- Look into increasing the coverage on your current life insurance policy – it just might be your best option
- If you have the money you will probably find it cheaper to pay cash upfront with a prepaid funeral – it is often the cheapest option if you have enough money lying around
Always bear in mind how the death benefit will be paid out and whether it fits in with your individual situation.
Is your loved one gravely ill and on deaths doorstep? Whilst you could probably get a policy with “no questions asked” you might be better off spending the last few precious days with your loved ones instead of trying to organize things which can be seen to once that person has finally passed away?
If you need a policy for a gravely sick person then you will need a no questions asked policy which does exist. Do be careful though, many of these graded life policies will pay out very little within the first year, a little more within the second and possibly half of the face amount of the policy in the third year of cover. The chances are that your loved one will not live long enough to get any benefit from this type of policy if they are seriously ill already (although miracles do happen!)
Free Final Expense Insurance Rate Quote
Most people who are searching online for final expense insurance don’t realize that funeral insurance is essentially life insurance. A very inexpensive way to obtain quality final expense insurance is to get a free life insurance quote.
There is a very simple question to answer as to whether or not you need final expense insurance.
Scroll, if necessary to see the “Request My Quote” submission button.
Final Expense insurance (aka funeral insurance) is a basic issue life insurance policy that covers people until they reach 100 years old. Final Expense insurance (also known as funeral insurance) is promoted as a way to pay in advance for your funeral expenses so that your loved ones won’t have to pay for your funeral. There are many things you can do to make your death easier on the wallets of those you love. Preplanning your funeral saves money and grief, as well as deciding whether you want to be buried in a casket or cremated and put into and urn, figuring out who gets what part of your estate and all the related turmoil associated with the end of life.
Return to the Final Expense Insurance Information FAQ page.