An addition to Life Insurance
It might be a lesser-known type of life insurance, but for many, final expense insurance is worth considering. You may not need final expense insurance if you already have permanent life insurance in place, but if your term insurance has expired, final expense insurance can help your family meet those extra costs at the end of your life. Final expense insurance can cover costs that may include medical bills, funeral costs, and even trips to scatter your ashes.
While you will pay higher premiums compared to your term insurance policy for the same amount of coverage, some policies include guaranteed acceptance if you’re aged 50 to 80, no medical exam, and no increase in your premiums, even if your health changes.