Final Expense

Elderly couple

What is final expense insurance?

Final Expense insurance is a life insurance option for the older crowd that doesn’t need income replacement coverage for dependents who need your income to survive. 

Final Expense, also known as Funeral or Burial Insurance, is meant to cover just that — your funeral, burial, leftover medical bills, and other final expenses.

This is a permanent life insurance product that does not expire as long as premiums are paid.

Is there a required medical exam for final expense coverage?

Unlike other traditional life insurance policies, final expense policies don’t require an in-depth research into your health.
Coverage is offered in two types: guaranteed issue life insurance or simplified issue life insurance.
Guaranteed issue asks a few questions to make sure you don’t have a terminal illness. Simplified issue has a more detailed questionnaire, but no medical exam.

Simplified issue

• Policy is active as long as premiums are paid
• No expiration date
• Immediate coverage after 1st payment
• No medical exam
• Higher coverage amount than guaranteed issue

Guaranteed issue

• Covered as long as premium is paid
• No expiration date
• Limited benefit for the first two years
• No medical exam
• Best for those who have serious health issues
• For those who can’t qualify for simplified issue

How much is it?

Final expense life insurance is very affordable! There are options available for almost any budget, especially those with fixed income.

What coverages are available?

You can expect coverage amounts averaging around $5,000 to $25,000.
For reference, the average funeral cost is around $9,000 with an expectation to reach $13,000 in the near future.
A final expense expert at BTW Insurance can help you decide what coverage amount that fits your needs and budget.

Here at BTW Insurance, we work with multiple companies and want to find you the best possible option based on your health and situation.
As an independent broker, we work for you. Not the insurance companies.
We educate our clients so they can make an informed and comfortable decision to give them peace of mind.