What exactly does final expense life insurance cover? What are some of the best final expense life insurance companies in the US? How can one find cheap final expense life insurance rates? Finding the best final expense life insurance policy is important for those who want this important kind of protection. Many people ask themselves what they can do to protect their families with the devastating costs of funerary services, burial fees and any other expenses associated with death. To them and to many other people there are good news!
Final expense life insurance is perhaps the best things for a person to get, so that they can be certain that their last minutes at a hospital, above ground in a cemetery or in front of their families at the funeral home are memories that will never be forgotten. Although pain and suffering are associated with this kind of insurance, it is important to understand that death expenses are not cheap; and that it is better to plan ahead by purchasing a life insurance with final expense benefits than to keep living without anything.
What Exactly Is Final Expense Life Insurance?
Unlike the other kinds of life insurance the final expense insurance is not a kind that will pay your beneficiary the amount of death benefit that you collect through your entire life (if you have a permanent life insurance policy) or the amount of life insurance that you purchase if you die in the specified time written in your policy (if you have term life insurance). Final expense life insurance is very simple because it just guarantees the policy holder that at the time of death his family will have no economic burden at the time of organizing a decent funeral, paying for the hospital expenses, and actually being able to purchase decent burial services.
Most insurance companies only require that a person be a certain age and that they pay a certain amount of money so that they can be covered at the time of their death. This is due to the fact that for a final expense life insurance policy most companies do not require that person passes an examination or that they are in perfect health condition. The reason for this is that they are not risking anything because they are not insuring people for a certain amount of time. What they are doing is basically collecting payments or premiums from the policy holders so that they will have the benefit of having a decent funeral and burial expenses.
Who Are Some Of The Companies With Final Expense Life Insurance Policies And Are They Easy To Find?
There are many companies out there that offer this service; all you have to do is search in your local phone directory or in a search engine online for the many companies that do offer the policy. Below you will just see some of the companies that offer final expenses life insurance policies with a brief description of what they offer the customer. It is important to know that there are many companies out there in the market and they are not limited to the ones being mentioned in this article. The ones mentioned are only to show the readers the different coverage that companies give out when a customer only wants a final expense policy.
1. United Heritage Life Insurance: The final expense life insurance policies in this company are ones designed to captivate the attention of every customer in the market looking for a good insurance policy that will cover the high costs of funeral and burial services. The maximum amount of life insurance you can get should never exceed $25,000 and it is designed for low and middle income Americans that need to pay for the services after you die. The people purchasing the plan must be in between the ages of 45 and 85 and must be in good credit standing.
If you are 65 to 85 years old at the time of applying you will only be able to get a maximum of $10,000. The good thing about this policy is that the premiums are not that high. The minimum annual premium is $150 a year, which would be about $13 a month only for death benefits!
2. Insure America Life Insurance: This pengeluaran hkis another Final Expense Life Insurance Company. As said before the premiums with this type of insurance are lower simply because they are not covering the risk of someone dying but only the burial and funeral expenses. With this policy however you will have immediate cash benefits in case the policy holder was to die unexpectedly, the benefits are paid directly to the beneficiary of the person that owns the policy, you do not require a medical exam in order to qualify, your rates will never be increased from the time of purchasing the policy till the future and the policy is renewable.