(305) 378-5210
Final Expense Insurance
Protect your family from the financial burdens that arise during life's most difficult moments. A life insurance policy designed to help cover funeral expenses, outstanding debts, and other end-of-life costs, so your loved ones can focus on what truly matters.
Protect your family with coverage designed to help with expenses that arise during the most difficult times.
Final Expense Insurance is a permanent life insurance policy that helps protect your loved ones from expenses such as funeral, cremation, burial, medical bills, and other final obligations . In the United States, the median cost of a funeral, including a wake and burial, is approximately $8,300 , and it can be even higher when you add cemetery plots, a headstone, flowers, and other expenses.
In addition to financial protection, certain plans offer access to the Loyalty Family Support Plan , which provides guidance for funeral planning, access to a national network of providers, support for religious and cultural needs, assistance with international transfers, and a guide to organizing your final wishes.
What Does Final Expense Insurance Cover?
It is a permanent life insurance policy designed to provide funds to your beneficiaries and help cover expenses such as funerals, cremation, burial, medical bills, and other final expenses. Depending on the plan and your eligibility, coverage options of up to $50,000 may be available.
Do I need a medical exam to get coverage?
No medical exam, blood tests, or clinical screenings are required. The application process involves answering questions about your health history to determine which coverage option best fits your needs.
We also offer plans for individuals with certain pre-existing health conditions that may make it difficult to qualify for other life insurance policies, providing more opportunities to obtain the protection you need.
What Benefits Does My Family Receive Beyond the Insurance Coverage?
Some plans include access to the Loyalty Family Support Plan, which provides funeral planning guidance, access to a nationwide network of service providers, support for religious and cultural needs, assistance with international transportation arrangements, and a guide to help you organize and document your final wishes.
Everything You Need to Know
Discover some of the key benefits and features of your coverage.
Permanent Life Protection
Unlike term life insurance, final expense insurance is designed to provide lifetime protection , as long as the policy remains active. Premiums for whole life plans are designed to remain constant, helping you plan for the long term.
Full or Modified Benefit
Depending on your age and health history, you may qualify for a plan with full death benefits starting on day one or an option with modified benefits during the first few years, followed by full coverage thereafter.
Coverage up to $50,000
Different coverage amounts are available to fit each family's needs and budget. With certain plans, eligible individuals may qualify for coverage of up to $50,000.
Cash Value
Some Final Expense Insurance options accumulate cash value according to the policy conditions, providing an additional feature to the death benefit protection.
Additional Protection for the Family
Depending on the plan, additional benefits such as coverage for dependent children and additional protection for accidental death may be available, allowing for expanded family protection within the same strategy.
It is not limited to a funeral home
Final Expense Insurance is a life insurance policy, not a prepaid contract with a specific funeral home . This allows the family greater flexibility when making final arrangements according to their needs and preferences.
You Can Extend Support to Your Family
With the Loyalty Family Support Plan , the policyholder has up to 60 days after the policy is issued to add up to four co-members . These family members can also access the program's support team when they face the loss of a loved one while the membership is active.
Frequently Asked Questions
Which is better: Final Expense Insurance or a prepaid funeral?
For many families, Final Expense Insurance may offer greater flexibility and protection than purchasing a prepaid funeral plan directly.
A prepaid funeral plan is generally based on specific products and services arranged in advance. Depending on the contract, limitations may apply if the individual moves, passes away far from home, or the family decides to use a different funeral home. Some plans may even require additional fees to transfer arrangements to another provider or location.
It is also important to carefully review which expenses are actually guaranteed. Over time, funeral service costs may increase, and certain additional expenses—such as transportation, cemetery fees, grave opening and closing, flowers, death certificates, obituaries, or other services—may not be included. This could leave the family responsible for covering the difference during an already difficult time.
Final Expense Insurance works differently. It is a life insurance policy that provides a financial benefit to designated beneficiaries rather than restricting the funds to a specific funeral service package. This allows families to choose their preferred funeral home, decide what type of service they want, and use the funds for other final expenses, such as medical bills or outstanding debts.
Additionally, some plans offer access to the Loyalty Family Support Plan, which can help families locate funeral service providers, coordinate arrangements, and receive assistance even when a loved one needs to be transported or buried in another city or country.
Instead of paying today for a specific funeral arrangement that may no longer meet your family's needs years from now, Final Expense Insurance can provide financial resources and greater freedom to make those decisions when they are truly needed.
Does my Final Expense Insurance require me to use a specific funeral home?
No. Final Expense Insurance is not a contract with a specific funeral home . Your beneficiaries can make funeral arrangements according to the family's needs and preferences.
In addition, some plans include the Loyalty Family Support Plan , which can help the family locate funeral providers within a national network and guide them through the process.
Can I make my funeral arrangements in advance and also have Final Expense Insurance?
Yes. Funeral planning and insurance can serve different purposes. You can document your preferences—such as burial or cremation, religious service, music, cemetery, and other wishes—and maintain a policy that provides financial resources for your family when the time comes.
The Loyalty Family Support Plan also includes a Memorial Planning Guide that allows you to organize this type of information in advance.
Does Final Expense Insurance only cover funeral expenses?
No. While it can help cover funeral, cremation, and burial expenses , it's a life insurance policy, not a funeral package. The benefit can provide resources for other family needs, such as outstanding medical expenses, debts, or other final obligations.
Do I need a medical exam to get Final Expense Insurance?
A traditional medical exam, blood tests, or clinical trials are not required. The application is based primarily on a few questions about your health history and medications.
There are also options for people with certain pre-existing conditions that may make it difficult to get other types of life insurance approved.
Can I get Final Expense Insurance if I have health problems?
There may be options available. The plan you qualify for will depend on your age, medical history, and answers to the health questions.
Some plans are specifically designed for people who may not qualify for other options due to certain medical conditions .
Does Final Expense Insurance have a waiting period?
It depends on the plan and your eligibility. Some people may receive the full death benefit from day one , while other plans offer a modified benefit for an initial period before reaching the full benefit.
Up to what age can I buy Final Expense Insurance?
There are options available for different ages and needs. Some plans allow you to apply for coverage up to age 90 , subject to eligibility.
Can I use an annuity to help cover my final expenses?
Yes. For people who prefer to set aside money in advance for their final expenses , there are also annuity options that can be part of a planning strategy.
The available Annuity Plan offers lump-sum or flexible payment options, with a minimum initial premium of $75 and amounts up to $100,000 , depending on eligibility. The funds receive monthly compound growth, and upon death, the death benefit is equal to the accumulated value of the fund .
This alternative may be especially interesting for people who already have savings and wish to allocate a portion of that money for funeral expenses and other final needs , instead of relying solely on their relatives to cover those costs when the time comes.
An Elite Insurance agent can help you compare whether a Final Expense Insurance policy, an annuity, or a combination of both makes more sense for your situation.