Term Life Vs Final Expense

Traditional life insurance provides financial support to your family members or other beneficiaries if you die. It comes in two major types: term and permanent. 

Term plans offer flexible protection for up to 30 years at affordable rates. Permanent plans guarantee lifelong protection, and they also include a cash value component that you can access during your lifetime. People typically buy life insurance in the prime of life to help their families fill financial gaps in case they die unexpectedly, like replacing income, covering daily expenses, or saving for the future. 

Final expense insurance, also known as “burial insurance,” has one main purpose: to cover funeral and end-of-life costs. The average funeral can cost $10,000 or more. Final expense eliminates the need to cover these expenses out-of-pocket or add financial stress at a time when your family is already grieving. 

With no strings attached, your family can also use a final expense payout to cover debts or provide a legacy to your kids or grandkids. As a type of permanent insurance, final expense plans last a lifetime, so your family can rest easy that the money will be there when they need it. 

The right life insurance choice for you will depend on many factors.  We will help you find the right policy, the right provider, and the right price point for you.