What Is Final Expense Insurance?

Final expense insurance is a whole life insurance policy that has a small death benefit and is easy to get approved for. Final expense insurance is also called funeral insurance, burial insurance, simplified issue whole life insurance, or modified whole life insurance. All relate to small whole life policies with a face value (and death benefit) of $2,000 to $35,000

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Kay Takeaways

• Final expense insurance is a small whole life insurance policy that is easy to qualify for.

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• The beneficiaries of a final expense life insurance policy can use the policy’s payout to pay for a funeral service, casket or cremation, medical bills, nursing home bills, an obituary, flowers, and more.

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• The death benefit is usually somewhere between $2,000 and $35,000.