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Final Expense Undewriting Requirements

Underwriting requirements for final expense policies differ from other types of life insurance policies. Final expense policies, also known as burial policies, are small life insurance policies intended for a person’s last expenses when they pass. The face amounts range from $3,000 to $50,000 and the age to qualify is typically between 50 to 85. They are mostly intended to pay for funeral costs, but they are also designed to take care of have them in place to pay for other costs such as final bills, taxes, and probate fees.

Final expense policies are usually whole life policies and the underwriting requirements does not include a medical exam. This is known as simplified issue. Instead there is usually a list of health questions, which the applicant must be able to answer “no” to in order to qualify. The insurance company will also request information about the applicant’s health history from available sources, and they will periodically request an Attending Physican Statment from the applicant’s primary physician. Sometimes the insurance company will require the applicant to do a phone interview.

If you have health issues, you can still qualify for a final expense insurance policy with graded benefits. The underwriter will determine what your premium will be based on your health history.

Final expense life insurance is affordable and gives peace of mind to those who do not want to leave a burden on their loved ones.

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