Everything below is general information, not personal advice. Your case may differ. The carrier's review of your application — called underwriting — makes the final call on approval and price.
Frequently Asked Questions
What is final expense insurance?
A small whole-life policy meant to cover funeral, cremation, and other end-of-life costs. Most plans pay $5,000 to $35,000. Your beneficiary gets a lump sum they can use for anything.
What is the difference between cremation insurance and burial insurance?
No real difference. Both are names for final expense life insurance. The plan pays cash to your beneficiary, who decides how to use it.
How much coverage do I need?
Think about what you want covered: the service, cremation or burial costs, medical bills left behind, and small debts. Most people pick $10,000 to $20,000. See the coverage guide page for a simple worksheet.
Do I need a medical exam?
For most final expense plans, no. You answer health questions on the form. Guaranteed-issue plans do not even ask health questions.
What is the 2-year waiting period I keep hearing about?
Guaranteed-issue plans (no health questions) often have a 2-year graded start. If you pass from natural causes in the first two years, your beneficiary gets back what you paid in premiums, plus interest — not the full payout. After two years, the full payout is paid. Death by accident is often covered in full from day one.
Can I be turned down?
Plans with health questions can decline you based on your answers. Guaranteed-issue plans cannot turn you down for health reasons if you are in the allowed age range.
Will my rate go up?
No. These are whole-life plans with fixed premiums. The price you start with is the price for life, as long as you pay on time.
Is the payout taxed?
Life insurance payouts to a beneficiary are most often not subject to federal income tax. This is general information, not tax advice. Talk to a tax pro for your case.
What is Florida's 14-day free-look?
Florida law gives you 14 days after you receive a new life insurance policy to cancel it for a full refund. No questions asked.
Does this replace a preneed funeral contract?
They are different. A preneed contract pre-pays one funeral home for set services. Final expense insurance pays cash to your family, who can use it anywhere. We sell insurance. We do not sell preneed contracts.
How fast does the money pay out?
It varies by carrier. Claims are often paid within days to a few weeks after the carrier gets the death certificate and claim forms. I will help your family file when the time comes.
What if I stop paying premiums?
The plan can lapse — that means it ends — if premiums stop. Because these plans build cash value, you may have options. Call me before you stop paying.