Final Expense Life Insurance – No Medical Exam
Author: weissheiss
Final expense policies are designed for seniors who need life insurance coverage for their families. These types of policies are usually chosen to take care of funeral costs, final bills, taxes, and probate fees. They are affordable and issued fairly quickly without a medical exam.
Affordable Permanent Life Insurance
Final expense life insurance is whole life insurance so the coverage is permanent, and the premiums will never increase. The face value typically ranges from $3,000 to $25,000, though some policies have face amounts as high as $50,000. The qualifying ages are normally between the ages of 50 and 85. Permanent life insurance is an excellent choice for seniors because they are guaranteed to have insurance for as long as they live, and as long as they continue to pay their premiums. Most seniors are on a fixed income, so permanent life insurance allows them to have a predictable insurance payment every month. It also gives them peace of mind with knowing that their insurance will never be cancelled and their premium payments will never increase.
No Medical Exam
Unlike other types of life insurance policies, final expense life insurance does not require a medical exam. If the applicant can answer no to a few health questions, then they are typically approved. Most seniors have some type of health issue whether it is high blood pressure, cholesterol, diabetes, or something else, so they worry about not being able to get insurance because of that. With final expense policies, the insurance companies knows that most people will have at least one health condition as they get older.
Guaranteed Issue Policies
Even if you have more serious health issues such as cancer, heart disease, or COPD, there are companies that will offer final expense policies to you, though the premiums will differ. These plans known as guaranteed issue final expense policies, so even seniors who think that they can’t get insurance anymore, will be approved.
If you think that you have waited too long to get life insurance, then you should look into getting a final expense life insurance policy. It’s affordable, permanent life insurance coverage, and it will give you peace of mind knowing that your family will not have a financial burden when you die.
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