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Final Expense Life Insurance

What is Final Expense Life Insurance?

What is final expense life insurance?

Final expense life insurance is a life insurance policy with a death benefit of $25,000 or less. More importantly, a final expense life insurance policy will reduce the financial burden on your loved ones. For example, the insurance will provide a source of cash to pay for final expenses such as burial costs, funeral expenses, debt settlement, and sometimes, leave a gift for loved ones.

Life Insurance Company Financial Health

life insurance company financial health

When selecting a final expense life insurance, one of the most important aspects is confidence that the insurance company will be in business for years to come. With this in mind, to judge the financial health of a life insurance company, look at the company’s ratings from companies such as A.M. Best, Moody’s, and Standard & Poor’s. Accordingly, A.M. Best has 15 rating levels. Moody’s financial rating system has 21 levels. And Standard & Poor’s has 20 rating levels.

We offer final expense life insurance from three top-rated life insurance companies:

Gerber, Mutual of Omaha, and Transamerica Life Insurance.

A.M. Best rates Gerber Life Insurance as an A-rated company.

A.M. Best rates Mutual of Omaha Life Insurance as an A+rated company. They have a rating of A1 from Moody’s. And Mutua of Omaha has a rating of A+ from Standard and Poor’s.

Furthermore, A.M. Best rates Transamerica Life Insurance Company as an A-rated company. They have a rating of A1 from Moody’s. And Mutua of Omaha has a rating of A+ from Standard and Poor’s.

Ratings are important. However, they are not foolproof. An A-rated company’s financial stability does not guarantee it will avoid collapse. But the bankruptcy of a well-rated life insurance company is extremely rare.

How to Plan With Financial Expense Life Insurance

How to Plan With Financial Expense Life Insurance

When your buy final expense life insurance, you are a hero to your family. You are not thinking about yourself. You are thinking about them. But after you buy the life insurance, have you wondered if that is all you need to do?

If you know anyone responsible for taking care of the affairs of a deceased family member, you know how beneficial life insurance is to the family. On the other hand, you probably saw a lot that they did after their loved one passed away.

Even though they were grieving, they had to arrange a burial and a funeral if that was what their family member wanted. But wait. How did they know the deceased member wanted a funeral?

But there must have been countless questions they had. How did they know what to do?

Questions That Family Members Need to Know

Questions That Family Members Need to Know

FYI, we’ll show you a way to answer these questions below.

  • What type of funeral arrangements should you make?
  • Should there be a burial, an interment in a mausoleum, or a cremation?
  • Did they have a prepaid funeral plan?
  • How much should you pay for all of the funeral expenses?
  • Was there any life insurance to help pay for expenses?
  • Are there any debts that need to be paid?
  • What important papers are there, and where are they?
  • Where are the tax records, and does there need to be a tax return need to be filed?
  • Did they have Social Security, and how do you stop the benefits?
  • Are they eligible for Social Security death benefits?
  • If they were a veteran, are there any after-death benefits?
  • If they were a veteran, do they want a military burial?
  • Did they have a will? Where is it, and what should you do with it?
  • Where do they have a bank or credit union account?
  • Did they have any investment accounts?
  • Did they have any retirement accounts, and who is the beneficiary?
  • What real estate did they have?
  • Did they have any business interest, and who is the beneficiary?
  • Did they have any loans, credit cards, or a mortgage?
  • Do they have any outstanding medical bills, and how will those be paid?
  • Did they have a lawyer, accountant, insurance agent, or financial advisor?
  • If they were employed, who did they work for, and do they have any company death benefits available?
  • If they were a religious person, who from their church, mosque or synagogue should you contact?
  • Should there be an obituary, and what do you put in it?
  • Did the loved one have any final bequest, or did they want to leave specific items to certain people or charities?

How to Help Your Family One Last Time

Certainly, planning your final estate is not a task that anyone really looks forward to. But your sense of responsibility will tell you it is the right thing to do. With this in mind, we want to help make your planning a little easier.

Moreover, below you will find a unique guide that will help you prepare answers to your family’s questions after you pass away. In fact, it will give you direction on what you can do now.

This guide is for the hero in you. There was probably a season in your life when you were the one always there for your family. Even though you can’t physically provide for your family the way you once did, you can still help them. The guide will help you organize your last wishes so your dreams for your loved ones can go on.

The design of the guide will help you organize crucial financial information. Additionally, it will help you document your last wishes, show key contacts, and help your loved ones pay your final expenses. Once you complete the guide, keep a hard copy with your other important documents and let your family know where to find it.

By guiding your family through this journey, you are lightening their burden and giving them and yourself peace of mind.*

How to Get Started Now

Please click the black download button below to download the Legacy and Last Wishes Guide.

If you want to see which final expense life insurance policies are available, complete the information at the top of this page.

If you need more than $25,000 of life insurance, click here to see what life insurance policies are available.

Finally, if you are unsure how much life insurance you need, click here to see an easy-to-complete guide that will help you calculate the amount of life insurance you need.

To see how much final expense life insurance may cost for you or your loved one, enter your information below. Instantly you’ll get a no-obligation quote. If you’d like to apply for the insurance, follow the prompts.

*Note: This guide is provided to you for informational purposes only and does not cover all aspects of your specific situation. With this in mind, Advice 4 Life Insurance, its owner, agents, insurance providers or affiliates do not provide specific tax or legal advice. In conclusion, please consult an attorney or tax professional regarding your own personal situation.