A whole life insurance policy called final expense insurance has a low death benefit and is easy to get approved for.
Funeral insurance, burial insurance, simplified issue whole life insurance, and modified whole life insurance are all forms of final expense insurance.
According to Richard P. Sabo, a financial planner and insurance fraud expert in Gibsonia.
Pennsylvania, final expense insurance has a death benefit designed to cover expenses such as a funeral or memorial service, embalming, a casket, or cremation.
The only difference between final expense insurance and life insurance is that insurers sell the smaller policies to make it more affordable.
However, beneficiaries can use the death benefit for any purpose, including vacation planning or property tax payments.
