![]() ![]() This is due to the fact that the average lifetime expectancy of an American male is 77, and the life expectancy for a female is 82. Most insurance companies will not insure anyone over the age of 85. These policies pay out immediately and do not have a 2-year waiting period like some other policies. We offer whole life insurance, guaranteed universal life insurance, and term life insurance. Up until age 80, there are many options for final expense life insurance, especially if you are in good health. Types of Policies Available and Age Limit These two factors will typically determine the type of coverage you can qualify for. ![]() Unless you have a dangerous job, participate in hazardous sports, or travel to dangerous places, your rates are determined by your age and your health. Life insurance rates are determined by age, health, and lifestyle. How Are Rates and Eligibility Determined? With all the options available, how will you know which policy is the best one you can qualify for if you don’t shop the market? 4. You want to make sure that the price fits your budget so you never have to worry about missing a payment and losing the policy.įinal expense policies are not one size fits all, so be sure to work with an agent who can offer you quotes from multiple companies rather than just one or two. The price is important because a final expense policy should be the last policy you ever have to buy. When shopping for a final expense policy, you want to pay attention to the fine print and the price. What to Look for in a Final Expense Policy Final expense policies are usually less than $100,000 of coverage (typically $10,000-$50,000) and do not require a medical exam. To cover final expenses, there are numerous types of policies available. How Much Life Insurance Can You Buy for Final Expenses? These bills are commonly referred to as “ final expenses” and can consist of medical bills, outstanding auto loans, mortgage debt, credit card bills, or burial expenses. Most of the clients we work with want to make sure they have some level of coverage when they pass away to make sure they do not leave any debt or bills behind for their loved ones. Life insurance is commonly purchased to cover the cost of a funeral or to pay any remaining final expenses at a fraction of their actual cost. ![]() What Is a Final Expense Life Insurance Policy Used For? ![]()
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