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Final Expense Insurance

What is Final Expense Insurance?

Final expense insurance is an insurance policy used to pay for burial expenses and funeral services when the named insured dies. 

Such a policy helps ease the financial burden placed on a family when a loved one dies.

More About Final Expense Coverage

Final Expense insurance is a basic issue life insurance policy that covers people until they reach 100 years old. It is quite similar to universal life insurance and is sometimes referred to as graded life or burial insurance with easy issue permanent coverage.

As an inexpensive insurance choice, final expense coverage can be used to cover the funeral and burial costs of the policy holder. Most people who do not want to place a hardship or burden their families with these burial and funeral costs will take out burial insurance polices.

Burial premiums can begin with higher costs at first than other forms of insurance since they include cash value features. An important advantage of burial premiums is that they are fixed, which means they remain the same even if your health deteriorates.

Final Expense coverage can pay for the casket, funeral service, visitation/viewing, hearse, digging and filling the grave, the actual cemetery plot, or burial vault or grave liner, minister, headstone, flowers, and other expenses related directly to named insured's funeral. 

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Important Things to Know About Medicare Supplement Coverage

  • If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.

  • You pay the private insurance carrier a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.

  • A Medigap policy covers one person. If you and your spouse both want Medigap coverage, we'll work with you to setup two separate policies.

Conditions That May be Covered:

  • Alzheimer's disease

  • blindness

  • deafness

  • kidney failure

  • A major organ transplant

  • multiple sclerosis

  • HIV/AIDS contracted by blood transfusion or during an operation

  • Parkinson's disease

  • paralysis of limb

  • terminal illness

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