8 Reasons Seniors buy FInal Expense Insurance

Typically, final expense insurance policies are available to persons  18 to 80 years of age, although actual ages may vary from company to  company.

There are 3 Types of Final Expense Policies depending on your age and health.

Level Premium, First Day coverage plans typically use simplified underwriting to confirm health status and is for healthy people or folks with relatively few health issues.

Graded Benefit (2 year return of Premium) is for people with some health issues and will have a different rate structure, and a Graded benefit during the first 2 years.  What that means is if you pass away during the first 2 years of the policy, your family will get every penny of premium you paid into the plan plus interest.

Guaranteed Issue with Modified Benefit (2 Year Return of Premium) is for folks with more health issues and asks zero health questions and there is no medical exam required.

Additionally, premiums for final expense insurance is generally less expensive than traditional life insurance. For these reasons, a final  expense policy is a great option for seniors and people with major  pre-existing health conditions.