Final Expense in The Last Frontier

What Is Final Expense Insurance?

Final expense insurance is a life insurance type similar to whole life insurance, but without a medical exam requirement and fewer benefits than traditional policies. Some other common names used for final expense insurance are burial insurance and funeral insurance.

In Alaska, final expense plans work like regular whole life insurance. Once purchased, policyholders make ongoing premium payments to insure themselves or someone else. If the insured person passes away while the policy is active, it pays out a death benefit.

Final Expense Benefits in Alaska

The benefits provided by final expense plans are fairly consistent across states, although you might notice less variety in Alaska compared to other places. Typically, these policies offer death benefits ranging from $2,000 to $40,000, with higher amounts being rare.

When the insured person passes away, the money will be given to the beneficiaries. You have the freedom to choose who these beneficiaries are; the decision is entirely yours. For assistance in selecting the right beneficiaries for your situation, consult with an insurance agent today.