Final Expense Insurance is the name given to an insurance policy that is designated for paying the final expenses of the policyholder. The technical term for this type of insurance is Simplified Whole Life Insurance. An individual pays a monthly premium for the duration of one’s life to cover funeral expenses, medical bills, and or anything else that maybe out standing. One of the big advantage to Final Expense Insurance is there are No Medical Exams or Blood Draws required for approval.
Other terms often associated with Final Expense Insurance are Funeral Insurance and also Burial Insurance. Today a full service funeral can cost upwards of $10,000 dollars. Purchasing a burial insurance policy will lesson the financial burden on surviving family members and ensure that your final wishes will be met.