Why is Final Expense Insurance so important?
New Jersey Final Expense Insurance is also known as Burial Insurance, Senior Life Insurance or Funeral Life Insurance. Final Expense Insurance is designed to cover bills that your loved ones will face after your death. These costs will include medical bills, funeral expenses, Legal/Probate, the list goes on. A funeral and associated costs could run well over $10,000.. The question is:
Where will the money come from?
Social Security: pays only a $255 lump-sum death benefit and only to qualified dependents. See Social Security Special Lump Sum Death Payment page for more information. Also, Social Security income may be reduced by as much as 50% with the death of a spouse.
New Jersey Department of Human Services: There is assistance of up to $2,246 for a funeral home and $525 for cemetery fees for New Jersey residents under certain circumstances Individuals should check with the local county department of social services to determine if any assistance or resource is available. Check the New Jersey Public Assistance Burial Page for more information
Veteran's Administration: may pay a $300 burial allowance under certain circumstances. See the U.S. Department of Veteran Affairs Burial Benefits page for more details.
Savings: Do you have the funds necessary to cover such costly expenses?
Loved Ones: Do your children have the funds necessary to cover such costly expenses? Do you want to leave this burden to them?
Today's Choice, Tomorrow's Peace of Mind
Final expense insurance is the most affordable method to prepay your final/funeral expenses
As Baby Boomers age, many realize they haven't taken care of life insurance in time to qualify for a larger term or whole life policy - for some, health issues have made that difficult or impossible. With little to no underwriting and no need for a medical exam, final expense insurance is an affordable option for many people.
Types of No medical Exam Burial Expense Insurance
Many life insurance companies offer Life insurance plans for people to skip the medical exam. The majority of Final Expense Life Insurance does not require a medical exam regardless of age. This is called a simplified issue. Most simplified issue life insurance applications will consist of a series of medical questions that determine your eligibility to qualify the the Life Insurance coverage. Death benefits range from $2,000 up to $100,000.
Most people qualify immediately so it's an instant win for you.
Final expense policies are whole life insurance policies which offers the guarantees you'll prefer for a final expense product. Whole life insurance is guaranteed for a lifetime as long as the premium is paid. Since final expense insurance is typically purchased with a lower death benefit than normal life insurance, most people find the monthly premium very affordable and the policy will build cash value over time. Issue ages are from age 40 to 89.
Some carriers offer a terminal and chronic illness rider so you can access a percentage of these funds if you are diagnosed as such. We represent many final expense life insurance companies such as Americo, Assurity, Cigna, Humana, Motorists Life, Mutual Of Omaha, Settlers Life,Transamerica and many more. If you or a loved one needs final expense coverage we are here to help. Feel free to use our no cost instant final expense burial insurance quoting tool to compare the companies we represent as much as you like. There is no need to meet with us in person. Everything can be done over the phone and by email.
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