Everything below is general information, not personal advice. Your situation may differ, and the carrier's underwriting makes the final call on approval and pricing.
Frequently Asked Questions
What is final expense insurance?
A small whole-life insurance policy ($5,000-$35,000) designed to cover funeral, cremation, and other end-of-life costs. Your beneficiary receives a lump sum they can use for anything.
What is the difference between cremation insurance and burial insurance?
There is no real difference — both are names for final expense life insurance. The policy pays cash to your beneficiary, who decides whether to use it for cremation, burial, or anything else.
How much coverage do I need?
Add up what you want covered: cremation ($1,000-$5,000 in Florida) or burial ($7,000-$12,000), plus any medical bills or debts. Most people choose $10,000-$20,000. These are starting ranges — prices change over time.
Do I need a medical exam?
For most final expense policies, no. You answer health questions on the application. Guaranteed-issue policies don't even ask health questions.
What is the 2-year waiting period I keep hearing about?
Guaranteed-issue policies (no health questions) typically have a 2-year graded period: if you pass away from natural causes in the first two years, your beneficiary receives a refund of premiums plus interest instead of the full benefit. After two years, the full benefit pays. Accidental death is usually covered in full from day one.
Can I be turned down?
Simplified-issue policies can decline based on health answers. Guaranteed-issue policies cannot turn you down for health reasons if you're in the eligible age range — that's what "guaranteed" means.
Will my rate go up?
No. These are whole-life policies with fixed premiums. The price you start with is the price for life, as long as you pay on time.
Is the payout taxed?
Life insurance death benefits are generally income-tax-free for your beneficiary under federal law (IRC Section 101(a)(1)). This is general information, not tax advice.
What is Florida's 10-day free-look?
Florida law gives you 10 days after receiving a new life insurance policy to cancel for a full refund — no questions asked (FL Statute 627.4553).
Does this replace a preneed funeral contract?
They're different things. A preneed contract pre-pays a specific funeral home for specific services. Final expense insurance pays cash to your family, who can use it anywhere. We sell insurance — we do not sell preneed contracts.
How fast does the money pay out?
It varies by carrier, but final expense claims are often paid within days to a few weeks after the carrier receives the death certificate and claim forms. I'll help your family file when the time comes.
What if I stop paying premiums?
The policy can lapse (cancel) if premiums stop. Because these policies build cash value, you may have options like using cash value to keep it going — ask before you stop paying.