Final Expense is also called burial insurance; there are a variety of plans being sold to people who want to make sure all their financial responsibilities are taken care of before they depart this life. Burial insurance is, a type of life insurance, and can be a term or permanent life policy. Many insurance companies offer it, and funeral homes include it in their burial packages.
Burial insurance is a type of life insurance used to pay for funeral services. Policies can be bought online or by telephone without waiting for an insurance-company doctor exam. Applicants are asked about age, smoking history and whether they have serious health conditions. Acceptance maybe guaranteed. Some require a two-year premium-paying period before policy will pay out and only provide coverage to age 100.
Burial insurance builds cash value over time. Burial insurance can be purchased for small amounts of $10,000 or less, other term or whole life insurance may require larger minimum coverage amounts. Premiums for burial insurance may be more affordable than bigger policies.