Final Expense Solutions in The Prairie State

Illinois stands out with two cities ranking among the top 10 in the nation for the highest funeral costs (Peoria and Bloomington-Normal). Managing these expenses during a challenging time can add stress, especially when life insurance or inheritance isn't readily available. Final expense life insurance policies offer a practical solution, allowing you to prepare for these costs with a low monthly premium.

What Is Final Expense Insurance?
Final expense insurance, also known as burial insurance, is tailored for seniors between the ages of 50 and 85. It provides an affordable life insurance policy with a modest benefit, specifically designed to assist in covering funeral, cremation, or burial expenses.

Final expense policies typically cover amounts ranging from $2,000 to $50,000. Most policyholders opt for plans in the $10,000 to $20,000 range, ensuring they can comfortably meet their funeral costs. Upon the policyholder's passing, the death benefit is directed to a chosen beneficiary, who can use it to settle funeral expenses, medical bills, and other end-of-life costs. You have the flexibility to outline your preferences for final arrangements and even plan to leave any excess coverage directly to the beneficiary.

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Choosing a Final Expense Plan
Qualifying for final expense is straightforward, involving no medical exam but only a set of health questions. For those with significant medical concerns fearing denial of coverage, there's an option: the guaranteed issue final expense plan, which requires no health questions. While these plans may cost slightly more and might have a waiting period before full coverage takes effect, consulting an advisor before opting for guaranteed issue is advisable.

Final expense plans are specifically structured to cover burial costs. In Illinois, the average cost of a full-service funeral with burial is $8,126, while cremation with a funeral costs an average of $6,697. A final expense coverage of $10,000 or more ensures your beneficiaries can manage the upfront payments often required by funeral homes, offering your family peace of mind after your passing.

Find a Final Expense Plan in Illinois
The seasoned team at Senior Life Services specializes in matching individuals with final expense insurance. For personalized assistance and a free quote, collaborate with our agents. Call us today at 800-548-3249 to connect.

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