Final Expense

When someone passes away, their loved ones must often take responsibility for planning their funeral and paying off any remaining debts they may have. If you don’t qualify for traditional life insurance, final expense coverage can allow you to protect your family from these costs. These plans work by providing them with a death benefit that can be used to afford your end-of-life expenses.

Rather than leaving behind costs that your loved ones will have to deal with, you can plan ahead and ensure that they have the money they need by purchasing final expense insurance. If you have savings available to pay these costs yourself, final expense insurance can still be useful.

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Here’s what final expense insurance has to offer.

What Is Final Expense Insurance?

Final expense insurance is a type of whole life insurance policy that has few eligibility requirements. These plans offer smaller death benefits than traditional life insurance, but the upside is that they are easier to qualify for. Through a final expense insurance plan, you can receive coverage that will provide your beneficiaries with a death benefit payment ranging between $2,000 and 75,000.

How Does Final Expense Work?

Final expense insurance works like any other life insurance plan. If you die while covered by the policy, your beneficiaries will receive a death benefit. The only difference between final expense and traditional life insurance is that you won’t be required to complete a medical exam. Instead, you will be asked to answer some relevant medical questions. Your answers to these questions will be used to determine the price of your coverage. Other factors, such as age and gender will also be used in the price calculation.

What Is A Funeral Trust?

Hamil Legacy offers the unique option to invest your final expense death benefit into a trust that will be coordinated to pay for your funeral expenses. Through a trust, the policyholder can give control to a trustee, who will manage the death benefits after the insured dies.

This option is best for people who want to have control over how the death benefit is spent after their death. To learn more about our optional funeral trust plan, you should speak to one of our representatives. They will explain the process of allocating your death benefit to a trust.

Final Expense Insurance Cost

The cost for final expense insurance varies from customer to customer. If you want to get more detailed information about how much you must pay for final expense insurance in your area, give Hamil Legacy a call today. Our agents can help you compare quotes and apply for the plans you find interesting.