Final Expense

Final expense is the coverage you have been looking for to help cover the costs for your funeral services. Those services can be expensive, and in New Mexico, are around $7,000. To prepare for the cost of your memorial service, you can purchase a final expense policy with low monthly premiums to secure your loved ones coverage.

Final expense is an affordable form of life insurance made specifically to allow seniors to purchase small policies to cover their funeral and burial or cremation expenses.

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What is final expense for?

Final expense is intended to help your beneficiaries pay for the costs of your funeral. That means everything from the clergy to the funeral home fees, transportation, flowers, musicians, burial, cremation, and more. In El Paso and Dona Ana counties, you can expect to pay around $6,907 for a burial or $4,517 for a cremation. The death benefits that final expense policies give to your beneficiaries are intended to cover those costs. Larger policies can also help cover any medical bills, estate taxes, or debts left behind.

Who is final expense for?

Final expense is made for seniors between the ages of 55 and 85. These plans cater to seniors by offering affordable monthly premiums. The insurance companies can do this because the benefit is much smaller compared to normal life insurance policies, which most seniors find to be too expensive.

You won’t need to go through a medical exam to secure one of these plans. No, they only ask a few written health questions. Even if you have serious health concerns, there is still a policy out there for you. We can help you find a guaranteed issue policy that will offer the coverage you need.

Why buy final expense?

These policies allow you to plan ahead for the expenses of your funeral service, taking that financial stress off of your loved ones’ shoulders. Your loved ones will need to pay for the funeral at the time of the service. Without the benefit of final expense coverage, they would have to quickly come up with the money themselves, adding to the stress of that difficult time.

If you don’t already have a life insurance policy and want to leave some money for your loved ones after you pass away, final expense is the answer. For a small monthly premium, your policy will guarantee your beneficiaries a sum that can cover the cost of your funeral services, easing that financial strain on your family.

Who qualifies for final expense?

Nearly every senior qualifies for a final expense policy. These plans were made to help seniors find an alternative to regular life insurance policies and secure a benefit for their families.

Do I qualify if I have health problems?

We can help even people with serious health conditions find policies. Guaranteed issue policies are made specially for ailing seniors.

At Poarch Insurance, we are committed to serving the El Paso and Dona Ana region. For help securing a final expense policy, contact us today.