Final Expense Insurance

Understanding Final Expense Insurance

Final expense insurance, also known as burial insurance or funeral insurance, is a type of whole life insurance designed to cover end-of-life costs. These policies typically have smaller death benefits ($5,000 to $35,000) and simplified underwriting, making them accessible to most seniors regardless of health conditions.

Costs to Consider

There are many factors that go into deciding how much coverage you need to cover your final expenses. These costs will change over time, which is why it is vital to plan ahead:

• Funeral and burial costs: The average funeral in Florida costs $7,000 to $12,000
• Cremation costs: Typically $1,000 to $5,000 depending on services chosen
• Outstanding medical bills: Unpaid medical expenses that may remain after death
• Legal and probate fees: Costs associated with settling your estate
• Outstanding debts: Credit cards, personal loans, or other obligations
• Travel expenses for family: Costs for loved ones to attend services

Types of Final Expense Policies

• Simplified Issue: Requires answering health questions but no medical exam. Full death benefit from day one if approved.
• Guaranteed Issue: No health questions or medical exam required. Anyone aged 50-85 can qualify. Typically has a 2-3 year waiting period for the full death benefit.

Benefits of Final Expense Insurance

• Tax-free death benefit paid directly to your beneficiary
• Bypasses probate — funds are available quickly when needed
• Coverage lasts your entire life (never expires)
• Premiums are locked in and never increase
• No medical exam required for most policies
• Cash value accumulates over time

Green Insurance Agency helps seniors across Florida find affordable final expense insurance. We compare policies from multiple carriers to ensure you get the best coverage at the best price. Call (904) 717-1176 for a free quote.