What Can a Death Benefit for Final Expenses Be Used For?
Anything. It’s possible that the insured intended to use it for funeral expenses, flowers, medical bills, or nursing home costs.
Nonetheless, the cash will have a place with the recipient, who can pick to involve it for something different, for example, charge card obligation or a retirement fund.
Sabo explains that it is not worth the time to process applications and conduct all underwriting for smaller policies, so many life insurance companies have increased their minimum death benefits to $50,000.
According to Sabo, some businesses specialize in final expense insurance and have developed a system and underwriting to sell fewer policies and generate lower profits, despite performing volume.
