Final Expense Life Insurance, Do I need it?

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Posted on 18th March 2010 by Rita in Retirement and Estate Planning |WHOLE LIFE Insurance

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Whole Final Expense Life InsuranceYou may have heard of the term “Final Expense” Life Insurance, wondered how this product differs from traditional insurance coverage and if this affects you? If so – you’re in luck… I believe it is important for you to know the difference in order for you to make the best decision when it comes to protecting your family and loved ones, so lets dive into this one a little bit here.

Being somewhat self-explanatory – “Final Expense” life insurance covers the cost of your final expenses… such as: funeral expenses, medical bills or wherever it is needed most when you die. The main difference between Final Expense and traditional life insurance is, Final Expense products are NOT designed for income replacement. These type of policies simply do not have large enough coverage amounts. (typical maximum face value for a final expense product is: $25,000) Many experts recommend having 10 -15 times your annual salary in life insurance coverage for income replacement coverage.

Since simplified underwriting is generally done for Final Expense Products, Final Expense life insurance can be the answer when you may not qualify for traditional term life insurance.

For those of you who are older and whose families do not depend on you for financial support, this product is for you. — Keep in mind, if you are not able to qualify for traditional term insurance coverage, but you qualify for this smaller face value product….Having SOME life insurance is always better than having none!

If you are healthy, young and have family to support, a Term Life product may be the product you are looking for.


FREE Final Expense Product Guide

Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.

Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
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  1. Life Insurance in Georgia says:

    Final expenses insurance is a good way to assure your loved ones that they will not be financially burdened by things like funeral arrangements when you pass away.

    18th March 2010 at 9:44 pm

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