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Final Expense Insurance

While most people do not want to talk about end-of-life issues, it is necessary to plan for them. Final expense insurance can lift the burden of expenses associated with a death.


On top of a mortgage, car payment, or credit card debt, you could be leaving behind a lot of unpaid expenses that could be difficult for your family to pay for if anything tragic were to happen to you.


The primary focus of this insurance is the payment of items such as one’s funeral, burial, burial plot, and other related costs. A final expense policy can come in many different forms. It can be either term or permanent. For example, just as with regular term coverage, a term life policy will provide a death benefit only, with no cash value build up.


Conversely, a policy that is a permanent plan will offer insurance coverage along with a cash value component. Just as with other types of permanent policies, the cash that is in the policy is allowed to grow on a tax-deferred basis.


This means that there will be no tax due on the growth of the funds until the time of withdrawal. And, the policyholder is allowed to either borrow or withdraw the funds if he or she needs cash for whatever reason they see fit.


Please consult with a SeniorHealthPro agent on how to Find the best rates. We’re able to shop many different companies on your behalf and assess rates, customer reviews and determine the best payment plan for you.

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