Final Expense

Minimum and maximum age requirements may apply, such as being between the ages of 45 and 85.  Also, the largest death benefit you can select might be smaller if you're older.  These are a few points to consider when learning if you qualify for final expense insurance.

As long as you meet any age requirements, obtaining a policy can be easy.  While you shouldn't be subjected to a medical exam, you will have to answer some basic questions regarding your health.  Depending on your answers, you may not qualify for coverage on day one.

With serious health concerns, you'll likely only qualify for a policy that does not require medical questions, an exam, or medical records.  While you can get a policy, these policies always have a two- to three-year waiting period before benefits will be paid.

Most insurance carriers require a minimum value of $50,000 - $100,000 on whole life or term insurance.  These higher amounts lead to higher premiums which might make term or whole life insurance unaffordable for end of life expenses only.