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Everything You Need To Know About Final Expense Insurance

What Is Final Expense Insurance?

Life insurance with a reduced death benefit is called “final expense insurance,” and it’s typically used to pay for a person’s funeral and other final expenses. This type of coverage, sometimes referred to as funeral or burial insurance is intended for senior individuals (those 50 and up) who are preparing for their inevitable demise.

You can buy it as a supplementary policy to your primary life insurance to increase your coverage or obtain it as a guaranteed issue plan with no health questions asked.When compared to other plans with a similar payout, final expense insurance tends to have a higher premium.

Although it may be more difficult to qualify for other forms of coverage, final expense insurance can be more attainable if you’re regarded as high risk by life insurance agencies, such as Franklin Life & Annuity. If you’re above a particular age or start having health issues, it’s also an excellent choice.

Benefits Of Final Expense Insurance

There are several advantages to purchasing final expense insurance for an elderly person who needs help paying for burial or other final expenses. You don’t need a medical test to buy a final expense policy, and claims are usually settled quickly. The result is that the recipients have no out-of-pocket expenses.

When it comes to covering the costs of a funeral, numerous people find that last-expense insurance is a more suitable solution than a prearranged funeral plan. Once the necessary waiting period has passed, the beneficiary will get a death benefit to cover the last expenses.

There are several potential issues with prearranged funeral services. Prepaid funeral plans are risky because the funeral home you choose may shut down, or you may relocate after making the initial payment. It’s important to remember that there are caps on other forms of financial aid as well, such as inheritances and the Social Security Death Benefit.

It might take several months for a will to proceed through probate, meaning loved ones have to wait for money, and Social Security payments rarely amount to more than a couple of hundred dollars.

If you have burial insurance, your loved ones won’t have to worry about paying for your cremation and funeral out of their own pockets or navigating the complexities of a prepaid arrangement.

How To Know If Final Expense Insurance Is The Correct Option?

You may want to consider final expense insurance if you are retired or about to retire and are concerned about how to pay for your funeral and other final expenses. You should consider getting a term or universal life insurance plan if you still have significant out-of-pocket costs.

Term life insurance plans from most providers often cover the insured for up to $150,000 until age 70, while permanent policies typically cover the insured for up to $150,000 until age 85.

If you want to make sure that you don’t leave any expenses or debts behind for your family members to worry about, final expense insurance can be a good option. It’s an affordable and easy way to ensure your loved ones are looked after when you’re no longer there.


Now that you’ve understood how final expense insurance works, the next step is to find a reliable final expense insurance agency in Houston, and who better than Franklin Life & Annuity for it? We are among the finest providers of final expense insurance in Houston, Texas.

We have a team of highly-skilled insurance agents that will help you understand which life insurance policy is the best for you. Get in touch with us today and get the best final expense insurance in Houston.

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