Final expense insurance is a type of life insurance policy specifically designed to cover the costs associated with end-of-life expenses.
It is meant to provide financial assistance to the policyholder's loved ones during a difficult time by covering expenses such as funeral and burial costs, cremation expenses, medical bills, outstanding debts, and other related expenses. Final expense insurance policies are typically lower in coverage amount compared to traditional life insurance policies, making them more affordable and accessible. These policies often have simplified underwriting processes, allowing individuals with pre-existing health conditions or older age to obtain coverage.
Final expense insurance provides peace of mind, ensuring that one's final expenses are taken care of and relieving the financial burden on surviving family members.