Final Expense Insurance & Planning
While Term and Permanent Life Insurance policies are designed to cover final expenses, transfer a financial legacy, accumulate cash value (permanent) and help replace an income in the event of your death—final expense insurance is designed to cover just the costs associated with your funeral.
For individuals who have less than optimal health and need coverage, final expense insurance may be an appropriate solution.
Family Tree Financial Group has access to numerous options to address your final expense needs.
These will generally fall into three categories:
Level Benefit
A term life insurance policy with a death benefit that doesn’t change, no matter if you die 5 years or 20 years into the policy’s term.
Graded Benefit
A graded benefit policy allows an individual with less-than-perfect health to purchase a permanent life insurance policy. The death benefit amount starts low, often 25% of the face amount within the first year of coverage, and then increases each year after.
Guaranteed Issue
This type of policy, as the name suggests, is issued without regard to the health issues of the applicant.