A final expense policy is designed to cover the costs associated with funeral and burial. These policies usually have restricted amounts at face value. The underwriting is generally more lenient since it is designed for individuals who have waited until later in life to purchase life insurance or have health problems that make getting life insurance difficult. Final expense policies are not guaranteed life issue policies. And Individuals with server health issues can still be declined to receive a final expense policy. The policy stays in effect so long as the premiums are paid.
These products are attractive to individuals who have health issues and have attained the age of 40 or more and do not want to burden their family with the costs associated with their passing. These policies reduce the stress on a family much more efficiently than a “go fund me” internet request.