Final Expense in Utah

What Is Final Expense Insurance?

Imagine having a final expense plan that’s all about you – it’s a life insurance policy designed to make sure your chosen beneficiaries are taken care of. This benefit is given out when the person covered by the plan passes away. The insured person can be whoever you decide to protect. The insured person can be you, a family member, friend, or anyone who you wish to insure. 

With final expense insurance, you’re choosing a similar product much like permanent life insurance. The only difference between a final expense and a traditional life insurance plan is that final expense insurance does not require a medical exam.This unique feature means these plans typically provide smaller death benefits to those participants. But don’t let that discourage you from considering it, especially if you face challenges qualifying for other life insurance options.

Smaller Death Benefits in Utah

When you’re shopping for final expenses, your concern naturally revolves around how much money your family will receive when you pass away. It’s crucial for you to ask because this inquiry directly shapes whether your passing will impose a financial burden on them. Ideally, you can qualify for a final expense plan that provides sufficient funds to ease them of any debts or expenses associated with your passing.

As for what to expect, most final expense plans come with death benefits ranging between $5,000 and $50,000. How much coverage you get will dictate the cost of your policy. Usually, plan premiums are about $40 to $80 per month, though these prices can be lower or higher depending on age, gender, and other factors. Your answers to the health questions asked during the application process will also significantly impact the cost of coverage.