Final Expense in the Buckeye State
If you are worried about how your family might pay for your final expenses, burial (aka final expense) insurance may be perfect for you. This product offers you the chance to have a payment dispersed to your beneficiary when you pass.
Burial insurance plans work just like traditional life insurance—though the death benefit is smaller. They are a type of whole life insurance.
The benefits should still be more than enough to cover the average final expenses of deceased Ohio residents, which sits at approximately $12,470.
What Is Final Expense Insurance?
Final expense insurance is a whole life insurance policy that has a moderate death benefit. These plans are much easier to qualify for than traditional life insurance plans because they do not require a medical exam. Many people refer to final expense as funeral insurance or burial insurance because the death benefit provides an amount of money that is appropriate for paying those expenses.
Sometimes people use final expense insurance to pay for other costs too, such as living expenses or unpaid medical bills. Though, a final expense death benefit should not be considered a good option for replacing your income upon death.
How to Get Covered in Ohio
To purchase a final expense insurance policy, you must fill out an application and qualify for coverage. To qualify, you are required to answer a list of health questions that the insurance adjuster uses to gain a better understanding of how much risk is associated with insuring you. If you are unable to qualify due to your answers to the health questions, do not worry — you still have options.
What Is Guaranteed Issue Life Insurance?
If you are unable to qualify for traditional life insurance in Ohio, you still have the option of purchasing a guaranteed issue policy. These are a type of final expense plan that never refuse applicants—even if you have cancer, diabetes or Parkinson’s disease. While you will always be approved, these plans will cost much more than simplified issue final expense policies.
Call for a Free Quote
A final expense insurance policy can protect your family from unnecessary financial burdens when you die. Coverage is more affordable than you think—in Ohio, plans typically cost between $30 and $60 per month. Don’t put it off any longer. Call today for your free quote.
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