FINAL EXPENSE OVERVIEW
Essentially a whole life policy, the death benefit is designed to cover funeral costs, medical bills, and other end-of-life expenses. It offers affordable premiums with straightforward benefits to ensure that your final arrangements are handled without financial strain on your loved ones.
FINAL EXPENSE PROS & CONS
Benefits of Final Expense Insurance
The most notable advantages of Final Expense insurance include:
1. Pricing
Final expense insurance is usually less expensive than other types of policies due to its smaller death benefit. Factors like your age, health, and coverage amount will determine what you pay.
2. No Medical Exam
While many life insurance products require a medical exam, final expense insurance does not. When applying for final expense insurance, all you have to do is answer several questions about your health
3. Fixed Premium
With final expense insurance, premiums are locked in once you get approved. They’ll never increase as long as your policy remains active.
4. Tax-Free Cash Benefit
Beneficiaries can use for anything they want, including funeral expenses, charitable gifts, or to give to a loved one.
5. Beneficiaries can use the death benefit for any expense
Final expense insurance is flexible. Your beneficiaries can use the death benefit payout to help cover virtually any cost, like your funeral, medical bills, or even day-to-day expenses.
Drawbacks of Final Expense Insurance
Here's a look at the disadvantages of Final Expense insurance
1. Lower payout
In many cases, payouts for final expense insurance range from $2,000 to $50,000. If you’re looking for a higher coverage amount, you may need to consider alternative options.
2. Some policies have waiting periods
Depending on the insurer, your policy might have a waiting period. This means that a certain amount of time must pass before benefits are paid out.
3. Can cost more than other policies
Depending on the insurer, your policy might have a waiting period. This means that a certain amount of time must pass before benefits are paid out.

How Final Expense Works
Also known as burial insurance, final expense insurance is a permanent policy designed to pay for end-of-life expenses. As long as you pay your premiums, loved ones will receive a death benefit when you pass away. While it won’t be as large as the payout they might collect if they had a traditional term life or whole life policy, it should be enough to help cover final expenses, like burial costs and medical bills.
What expenses can final expense insurance cover?

Funeral &
Burial costs

Medical bills

Legal fees

Hospice care

Everyday bills

Savings
Do You Need A Final Expense Program?
If you currently have no means to pay for your funeral costs, final expense insurance is the perfect solution to ensure your family isn’t stuck with the burden of unpaid funeral bills.
The National Funeral Directors Association (NFDA) reports that the average cost of a funeral is $9,420 (burial including a vault & viewing). Most American families cannot stomach a $10,000 unexpected bill.
That is why final expense life insurance is the ideal way to ensure your passing won’t result in a financial burden.
Note: Social Security only pays $255 to eligible survivors for burial costs.
However, if you currently have enough cash, investments, or other means to pay for your funeral costs, then a final expense policy isn’t necessary.
Sadly, most seniors are not in that situation, and a policy is the only way they can cover their end-of-life expenses.
How to decide if Final Expense Insurance is right for you?
Before you commit to a final expense insurance policy, consider these factors:

Your Coverage Needs
Are you simply looking to cover your funeral and burial expenses? Do you hope to leave your loved ones with some money to pay for end-of-life costs? If so, final expense insurance is likely a good fit.

Your Budget
You should also determine how much you can afford to pay for a life insurance policy. If you’d like sufficient coverage without breaking the bank, final expense insurance may be worthwhile.

THE BHB ADVANTAGE
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TOP RATED BROKERS
Working with a broker who is licensed and certified with multiple A rated carriers is the best approach. They can provide guidance and customize plans that fit your needs. At BHB we offer no-cost, no-obligation consultations that can be scheduled for any day and time of your choosing. We never sell your information to others.
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WIDE -RANGING OPTIONS​
As an independent agency, BHB has access to policies from over 30 respected insurance providers. This extensive selection allows you to compare rates and coverage options easily, helping you make well-informed choices.
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COST-FREE FOR CLIENTS
​Our brokerage services come at no cost to you. We are compensated by insurance companies through commissions on policies sold, meaning there are no broker fees, additional premiums, or hidden charges when you purchase a burial insurance policy through BHB. In fact, you’ll save money by comparing various policies to find the best offer.