What Exactly is Final Expense Life Insurance?

Final expense insurance, also known as burial insurance or funeral insurance, are all the same types of insurance. 

Final expense policies are whole life insurance. 

TIP: If you find a final expense policy that is term insurance, avoid it!

 Peace of mind with Final Expense  Life Insurance... and why it is your BEST option!

  1.  Monthly rate will never increase
  2.  Coverage amount will never   decrease
  3.  Policy will never expire
  4.  No medical exam necessary 
  5.  Proceeds are 100% tax-free

That's it. No fine print. Very easy to apply. Just minutes over the phone. 

Our customers ask some terrific questions. Below are our most popular regarding final expense / funeral expense insurance.

Are the proceeds tax free?  Yes, 100% tax-free life insurance proceeds based on current tax laws.

Who is the beneficiary? Often a spouse or one of the children of the insured. The owner of the policy names the beneficiary. 

How long does it take to receive the proceeds? Once a death certificate is provided to the insurance carrier, life insurance proceeds are mailed within one week on average. 

Must I use the proceeds only for the funeral?  No. Unlike prepaid funeral plans, your beneficiary may utilize the insurance proceeds as they determine.

Must I take a medical exam to qualify for final expense insurance?  No medical exam is needed. In fact, depending on your health, there are very few medical questions.

How can I pay for my insurance policy?  The majority of our clients elect to pay via convenient, monthly, auto-withdrawal from a checking account. This takes the worry about missing an important payment.  You may also select exactly what day of the month to have your payment withdrawn. 

Where do I get a quote for a larger policy (not final expense)?  Simply click here for instant access to larger life insurance quotes.

Did you know?

There are several types of Final Expense Life Insurance policies available for you depending on your overall health. Rest assured, we can almost always find a final expense policy that fits your budget, your health condition, and your needs.

Level Benefit Plan: 

Healthy, Lowest Rates

A level benefit plan provides you 100% coverage from day one. There is no waiting period to be protected or reduced coverage time frame. There are health questions on this application. Underwriting is very fast. Sometimes providing an immediate "approved" decision.

Graded Benefit Plan: 

Some Health Issues

A graded benefit plan generally results when you answer "yes" to any of the health questions on the graded section of the application. The majority of graded life insurance plans offer a staggered death benefit.

Pass away from an illness in year one:  Beneficiary will receive 30% of face amount of your death benefit.

Pass away from an illness in year two:  Beneficiary will receive 70% of face amount of your death benefit.

The exact payout percentages are different for each company. Use the above as an example. 

NOTE: If you pass away from an accident at any time your payout will be 100% of your death benefit. 

Modified Benefit Plan: 

Serious Health Concerns

A modified benefit plan is the most costly.  Should you pass away in the first two years due to an illness, your beneficiary will receive 100% of the premiums paid to date PLUS 10% interest (generally).  We recommend a guaranteed issue policy (lower premiums)  for people in this group. 

NOTE: If you pass away from an accident at any time your payout will be 100% of your death benefit.

Guaranteed Benefit Plan: 

Highest Risk Concerns

Guaranteed issue life policy has no health questions. Acceptance is guaranteed as long as you are of sound mind and body. Policy offered with a two year waiting period. If insured passes away from an illness during the first two years, beneficiary will receive 100% of premiums paid to date returned PLUS 10% interest. Premiums are higher compared to policies that require health questions.  This type of policy recommended for individuals with severe health issues. 

NOTE: If you pass away from an accident at any time your payout will be 100% of your death benefit.

Are there limits on who is eligible for a final expense policy?

Age bracket is 50 - 85, generally. 

Not all products for each carrier are available in all states. 

Health questions are required depending on policy.

No health questions available on certain policy types.

Medical exam not required.

Nothing upsets us more than when a person phones us indicating they, "received a guaranteed life insurance form in the mail... the rates are so low...".  

Please beware! Many of the "mail order" final expense insurance cut-rate offers are term insurance in disguise. You will be attracted to the lower, initial rates. However, your premiums will go up just as sure as the sun rises in the east. Increases are substantial over time and worse yet, the policy will often be automatically terminated when you reach age 80. This is NOT the type of final expense insurance you are seeking. 

TIP: Avoid carriers offering term insurance masquerading as permanent (whole life) insurance, such as Globe Life and AARP.    Call us, we  are happy to assist you.   800.277.3098

Why is there a special life insurance policy just for final expenses?

The attractiveness of a final expense policy is that insurance carriers offer very forgiving underwriting (do not need perfect health) for these types of policies. 

In addition, the policy's death benefits are low, so the risk pool is spread out. This offers seniors critical, affordable, permanent life insurance to pay for their important final expense needs. 

A key benefit of final expense policies is you may purchase a very low amount of insurance. Coverage generally ranges from $2,000 - $25,000.   We always suggest you select the amount of coverage you need based on your budget. 

If you need more protection, you may purchase a policy from more then one carrier.

Most popular reasons to purchase a final expense policy.

  • Most of us don't have $10,000 in cash lying around to pay for a funeral.
  • Truly want to avoid leaving our kids with a large funeral bill.
  • Ideally want to pay-off outstanding debts (credit cards, car, medical)
  • Be great and memorable to leave some money to a child or grandchild (for college).

What is my next step? 

We recommend you gather final expense quotes using our easy quoting form (see below).  Or.. even quicker, call our office: 800.277.3098.

All applications completed over a brief phone call. No medical exam required. 

Your prescriptions history and the answers to the medical/health questions will determine which type of coverage you are eligible to purchase.

The phone application process takes about 15 minutes.  Signatures are completed via electronically, or voice signature or paper application (rare). 

No broker needs to ever come into your home.  You may apply from the safety and comfort in your own home. 

As an independent agency we are not committed to only one life insurance carriers.

We are happy to research the various final expense carriers to find you the best rates available. 

Our job is to find you the best policy, with the best rate and the safest carrier.  

Instant quotes or phone our office. 

Fast, friendly, experienced service.


Our Pledge

Although we cannot offer you a home cooked meal, we can pledge to offer you courteous, friendly, professional service at all times.  As a successful, family-owned life insurance agency, with over three-decades helping others, we are proud to work directly with all our clients.

Our goal is to make your time spent with us relaxing, professional and comfortable for you at all times. 

We treat others as we would want to be treated. The Golden Rule is alive and well. 

We thank you for the opportunity to earn your trust and business.”

-- Jack D. Davis, Owner

Eagles Soar Enterprises, LLC.