Final expense insurance can come in handy if you’d like to ensure your loved ones have the funds to help cover your end-of-life expenses, such funeral costs and medical bills. Fortunately, it comes with less expensive premiums, especially if you’re younger and in reasonably good health. Aflac offers final expense whole life insurance with coverage that can help give you peace of mind. Read on to learn more about final expense insurance and its cost to decide if this type of policy is right for you:
Also known as burial or funeral insurance, final expense insurance is designed to help pay for final expenses your family may face upon your passing. These might include burial and funeral costs, medical bills, and in-home care.1
Compared to traditional life insurance policies, final expense insurance usually features a smaller death benefit. As a result, this policy can be a more reasonable option. Aflac is pleased to offer final expense insurance at those rates.
Don’t wait until it’s too late. Help cover yourself and your family with affordable coverage from Aflac.
Final expense insurance offers fixed premiums that do not change over time. Request a quote from Aflac today.
These factors will likely impact the price you’ll pay for a final expense insurance policy:2
As with any life insurance policy, the older you are, the higher your premiums will be. For example, you’ll pay more if you’re 80 than if you’re 60.
Research shows that women live longer than men. Therefore, your rates might be less if you’re a woman buying a final expense policy.
You’ll need to answer several health questions when you apply for final expense insurance. The better your health is, the more affordable premiums you can expect.
The price you’ll pay for premiums can also depend on the life insurance company and coverage amount you choose.
Smokers typically have shorter lifespans than non-smokers. If you smoke, you’ll be classified as higher risk and, in turn, pay more for final expense insurance.
Here are several situations where you may want to consider final expense insurance:
You should consider final expense insurance if your primary goal is to help beneficiaries cover final expenses upon your passing. This can help alleviate the financial burden loved ones may face.1
Death benefits for final expense policies are typically low. If you only need a small amount of coverage, this type of life insurance may be your best bet.
A final expense policy doesn’t usually require a medical exam.1 All you have to do to apply is answer a few questions about your health. This makes final expense insurance great for those that would prefer to skip the exam, whether you’re in poor health or would feel uncomfortable taking an exam.
Final expense insurance can be worthwhile if you’d like the peace of mind of knowing your end-of-life expenses will be covered should you suddenly pass away. It can allow your loved ones to grieve rather than worry about finances.
Aflac offers final expense whole life insurance you might want to consider. You can enjoy lifelong coverage at reasonable rates and even build cash value. Start chatting with an agent today for a quote or more information.
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1 Moneygeek - Final Expense Life Insurance: How It Works, Benefits & Whether You Should Buy. Updated April 2, 2023. https://www.moneygeek.com/insurance/life/types/final-expense/#what-it-costs. Accessed May 1, 2023.
2 Bankrate - Final Expense Insurance. Updated March 23, 2023. https://www.bankrate.com/insurance/life-insurance/final-expense/. Accessed May 1, 2023.
Coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York.
68000 series: In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania, Texas, & Virginia, Policies: ICC1368100, ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68100-A68400. In New York, NY68100-NY68400.65000 series: In Virginia, Policies ICC0965JTO & ICC0965JWO. B61000 series: In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania, Texas, & Virginia, Policies: ICC18B61JWO & ICC18B61JTO. In Delaware, Policies B61JWO, B61JTO. B60000 series: In Arkansas, Idaho, Oklahoma, Pennsylvania, Texas, & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Q60000 series: Whole: In Arkansas, Delaware & Oregon, Policy Q60100M. In Idaho Policy Q60100MID. In Oklahoma, Policy Q60100MOK. In Texas, Policy Q60100MTX.Q60000 series: Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Oregon, Texas, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C.
Final Expense insurance coverage is underwritten by Tier One Insurance Company.
The life insurance policy described herein contains an optional Accelerated Death Benefits Rider that is intended for favorable tax treatment under Section 101(g) of the Internal Revenue Code. Aflac does not give legal or tax advice. Please consult with a qualified legal, tax, and accounting advisor before engaging in any transaction. In AR, AZ, ID, OK, OR, PA, TX and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (Tier One NAIC 92908).
This is a brief product overview only. Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY or VA. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations and exclusions. For complete details, including availability and costs, please contact your local Aflac agent.
Aflac does not offer Universal or Variable Universal life insurance.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
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