Final Expense in The Centennial State
Many people fear dying because they are worried that their families will be unable to provide for themselves once they are gone. Life insurance is a great way to get rid of this uncertainty. Though, some people are not able to qualify for life insurance. In these instances, the least they can do is provide enough income to offset the costs of their final expenses.
Final expense insurance is a way to ensure that your family will not need to pay out-of-pocket for your end-of-life expenses. To learn more about what these plans offer, continue reading.
What Is Final Expense?
Final expense insurance is a unique form of coverage that offers similar benefits to traditional life insurance. However, final expense is not exactly the same as a traditional life plan. With a traditional life plan, you would be subjected to a medical exam that may disqualify you from the application process. Final expense does not require such an exam.
Instead, final expense insurance plans only require applicants to answer a select set of health questions. The answers to these questions are used to get some idea of how much risk is involved with insuring you. Thanks to this difference, many people who do not qualify for traditional life insurance are able to qualify for final expense!
Who Needs Final Expense?
You should get final expense insurance if you do not have significant assets saved up and you suspect you may die at some point in the near future. With this coverage, there is no need to worry about how your end-of-life expenses will be paid for. These plans, which are often called burial insurance, are designed specifically to pay off someone’s funeral, burial, and other final expenses
Final Expense Costs
The cost of final expense insurance varies from state to state. If you are in Colorado, you can expect your coverage to be between $40 and $80 per month. Though prices do differ depending on your answers to the health questions that were asked doing the application process. If you are someone with significant health difficulties, expect your premiums to fall on the higher end of the stated range.
Start with Your Free Quote
Senior Life Services is a final expense agency that has experience working with people who need this type of coverage. We understand that shopping for life insurance can be overwhelming, so we want to make the process as easy as possible. To get started with a free quote, call 800-548-3249.
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