Final Expense

Final Expense Insurance

Is a Whole Life Insurance policy purchased later in life to cover the cost of burial or funeral expenses. Most Final Expense policies have a face value of $2,000 - $40,000.Final Expense was created as simplified issue so the application in short and there in No Medical Exam. On average a funeral can cost $10,000 or more. So Final Expense Insurance policy can give you and your loved ones peace of mind.

Pre-need Insurance

Is a limited premium payment, whole life policies that are usually purchased by older applicants, though they are available to everyone. This type of insurance is designed to cover specific funeral expenses that the applicant has designated in a contract with a funeral home. The policy's death benefit is initially based on the funeral cost at the time of prearrangement, and it then typically grows as interest is credited. In exchange for the policy owner's designation, the funeral home typically guarantees that the proceeds will cover the cost of the funeral, no matter when death occurs. Excess proceeds may go either to the insured's estate, a designated beneficiary, or the funeral home as set forth in the contract. Purchasers of these policies usually make a single premium payment at the time of prearrangement, but some companies also allow premiums to be paid over as much as ten years.