Final Expense life insurance provides coverage for every kind of final expense. It is the best type of Life Insurance for seniors. There is no lengthy procedure to get it. On top of that, final expense life insurance usually requires no medical examination, which makes its acceptance guaranteed. The coverage provided by Final Expense Life Insurance usually lies in the range of $5,000-$20,000.
There is a waiting period of two years. The death benefit is used for various purposes; paying off the loan, filling the hospital bills, and managing the funeral expenses. Final expense life insurance falls under whole life insurance, which means that the premiums are to be paid for a lifetime. However, the premium rates are incredibly affordable. Therefore, the final expense of life insurance is usually not too heavy on the pocket.