Final Expense Life Insurance, Simplified.

There are many types of Final Expense Life insurance products on the market. Therefore, the options can be overwhelming to determine which works best for you, your family, and your goals.

Each product offers different benefits, advantages/disadvantages, and specific underwriting requirements in order to qualify. However, it’s important to understand what Final Expenses life insurance is before making any major decisions.

What is Final Expense Life Insurance?

If you’re a senior between the ages of 50-85 or an individual with common ailments related to aging and are living on fixed income, then you’ll want to look into Final Expenses life insurance, also known as burial insurance. This is a whole life, permanent insurance product designed to pay out at the end of life, whenever that may be. 

The underwriting requirements are referred to as Simplified Issue. There are no para-medical exams required to qualify for these products and each carrier has a list of questions that will determine which risk class you qualify for. 

How much does it cost?

The amount that you pay for the insurance, also known as premium, will vary depending on several factors like your age, health circumstances, and amount of death benefit you are seeking. However, once it’s locked in, it will never change. Meaning, it will never increase and will be the same amount for the life of the policy.

The policy’s face amount (or, death benefit amount) is paid by the insurance carrier, but is limited by each carrier somewhere between $30,000-$50,000. Therefore, the risk to the carrier is minimal, which is reflected in the premium cost.

Unlike Term Insurance and Universal Life, Final Expense life insurance is a permanent product and will last your entire lifetime. However, with smaller face amounts and lower premiums, this Simplified Issue product is designed for seniors in their later years and more affordable for those on fixed income. 

To learn more or if you have any questions, we’re here to help. Reach out at 561-412-5500 or Pivotal Insurance. 

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About Pivotal Life Insurance

Pivotal Life Insurance is a family owned, independent insurance agency that focuses on income protection and family security through Life Insurance products (Term Life, Whole Life, Final Expense), Mortgage Protection and Annuities. With a range of product offerings, we accommodate the varying needs of our clients through resources provided by the nation’s top rated carriers. Although we are headquartered in South Florida with a branch in Maryland, we service most of the United States as our agents are licensed throughout the country. Pivotal Life Insurance is one of the fastest-growing agencies and we pride ourselves in putting you, our customers, first.

Insurance Is Pivotal. Cherish what’s important.

For more information or if you’d like to join the Pivotal family, visit www.insuranceispivotal.com or call at 561-412-5500.