SERVICES / LIFE INSURANCE
A thoughtful plan today.
Less uncertainty tomorrow.
Help your loved ones focus on what matters during a difficult time. Final expense life insurance can provide money for funeral costs, remaining bills and other needs after you pass away.
Final expense coverage is commonly a smaller whole life policy. A named beneficiary receives the benefit and can generally decide how to use it. It is different from a prepaid funeral arrangement with a specific provider.
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Commonly a smaller whole life policy intended to help with end-of-life expenses. Proceeds are generally paid to a named beneficiary, who can use them for funeral costs or other needs, subject to any assignment. Coverage, premiums and early benefit restrictions depend on the policy.
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An agreement for specified funeral goods or services, funded through a trust, insurance or another arrangement. It is not the same as unrestricted life insurance proceeds. Ask the funeral provider about price guarantees, excluded costs, cancellation, refunds and transfer to another provider.
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Term insurance covers a defined period; other permanent policies can address longer-term needs and may offer larger benefits. Existing life insurance may already cover final expenses. Compare the protection gap and an affordable ongoing premium before adding a policy.
MAKE AN INFORMED CHOICE
Immediate or level benefit: The stated death benefit may be available from the effective date, subject to exclusions and policy conditions.
Graded or limited benefit: Certain deaths during an initial period may pay a reduced amount or return premiums plus stated interest instead of the full benefit.
The duration, covered causes and accidental-death treatment vary. Get the actual benefit schedule in writing; do not assume every no-exam policy has a waiting period.
Keep beneficiary information current and discuss your wishes. A life insurance benefit is generally paid to your beneficiary, rather than being restricted to a particular funeral home.
THE POWER OF CHOICE
Examples of companies offering relevant insurance options. DMD can help you explore which products are available for your needs and state.
Whole life options through United of Omaha for end-of-life planning.
Final expense whole life insurance information and options.
PlanRight whole life insurance designed for final expense planning.
Product availability, underwriting, benefits, guarantees and riders vary by insurer and state. Logos identify their respective companies and do not guarantee eligibility, approval or a particular product’s availability through DMD.
Generally no. Beneficiaries can use proceeds for other financial needs, subject to any assignment or arrangements they have made.
Some plans do not require an exam, but health questions or other underwriting may apply. The insurer determines eligibility and the type of coverage offered.
That depends on the policy. Confirm the effective date, initial benefit limits, exclusions and any graded-benefit period before you enroll.
The insurer may require insurable interest and the insured person’s knowledge or consent. A licensed agent can explain the application requirements.
FOR DMD AGENTS
Prioritize an affordable ongoing premium and an appropriate benefit. Explain immediate versus graded benefits, health questions, exclusions and beneficiary choices using the issued carrier’s materials.
Let’s talk about the people and plans you want to protect. Our team can help you understand your choices and take the next step with confidence.
This page provides general educational information, not a quote or a coverage recommendation. Insurance coverage is subject to the issued policy’s terms, exclusions, limitations and payment of required premiums.
LEARN MORE: Transamerica final expense overview ↗ / Foresters PlanRight ↗