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Final Expense Insurance

Is final expense insurance worth it?

For many people, especially retirees on a fixed income without savings set aside for funeral costs, final expense insurance can be worth it: most plans have a level premium and pay the death benefit as long as the policy stays in force, subject to any graded or contestability period, which can spare family members an unexpected expense.

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Key details about final expense insurance

It may be less necessary if you already have significant savings specifically earmarked for funeral costs, or an existing life insurance policy large enough to cover them.

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Compare the total premiums you may pay over time with the benefit amount, and review your current coverage and savings before deciding.

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