Final Expense
Ensure end-of-life expenses, ranging from medical bills to funeral costs, are covered with final expense plans. Easy application and fast approval.
RAPIDecision® Final Expense provides up to $50,000 of coverage, with level premiums and coverage for the life of your policy. Our Rapid App underwriting process means quick policy approval typically comes in days, not months. There’s no waiting period. Upon approval, your full coverage begins immediately. No medical exam is required. Approval depends on the answers to a few health questions on the application and results from certain database records, like motor vehicle reports.
The death benefit can be used for final expenses including end-of-life and burial costs. The death benefit can also be used for other expenses, such as credit card debt or outstanding medical bills. As a type of permanent whole life insurance, the policy provides for the accumulation of cash value.
Want to apply for final expense coverage with no medical exam? Explore RAPIDecision® Guaranteed Issue.
When you’re younger, you may buy life insurance to protect your family during big life changes, such as raising young children or buying a house, in case the worst happens.
As you get older, you may no longer have these financial obligations. But there’s still one big expense that everyone has to plan for eventually: their funeral.
That’s where final expense insurance comes in. Also called funeral insurance or burial insurance, final expense life insurance was created for older adults to help cover the costs of a final sendoff, so their family doesn’t have to. These costs can be significant.
Final expense can help bring peace of mind to grieving loved ones. Here’s how it works:
You can get a RAPIDecision® Final Expense policy with no waiting period. A burial insurance policy through Fidelity Life is an affordable way to secure coverage that helps loved ones pay for end-of-life expenses. With a RAPIDecision® Final Expense policy, you can get covered in a matter of days, not weeks or months. Once you’re approved, coverage is effective immediately.
There are a range of affordable Fidelity Life products to choose from based on your situation and financial responsibilities.
The average funeral costs around $8,000 or more, a hefty bill that your family may not be prepared to meet. Expenses like caskets and your preference for a burial or cremation can affect the final amount.
If you’re looking for a funeral insurance policy specifically to help cover these end-of-life costs, RAPIDecision® Final Expense is likely a good fit. As a type of permanent insurance, it typically costs more than a term life policy, but lower coverage amounts keep it budget-friendly.
Unlike most permanent plans, RAPIDecision® Final Expense has a quick and easy approval process, no medical exam required. You’ll just be asked to fill out a health questionnaire as part of your application.
Trying to decide if RAPIDecision® Final Expense is the right choice? Here are a few questions to consider:
In general, final expense is a good choice for older adults who just need to cover those final expenses.
Tell us about yourself, and we’ll match you to available life insurance policies that meet your needs and work with your budget.
Select the life insurance policy that works best for you. We’ve made it fast and easy to get a quote online or to connect with one of our agents.
Check getting life insurance off your to-do list. We’ll walk you through the application and purchasing process. Coverage often starts the same day.
Life insurance policies with larger coverage amounts are meant to help cover ongoing financial responsibilities for your family so they maintain the quality of life you worked hard to achieve. These expenses may include a mortgage, college for children, as well as replacing lost income.
Final expense insurance offers smaller coverage amounts that can help with medical and end-of-life costs, as well as funeral expenses. It can also be used to pay off credit card bills or other debts. For more mature or retired adults who aren’t looking to replace lost income, but are looking to lessen the burden on friends and family when they pass, final expense insurance can provide that peace of mind.
While you might not have large financial responsibilities any longer, funerals can still add up. It’s important to make sure you have enough to cover all the expenses, which can include:
You also might want to set some money aside for other expenses, such as music, food, or a traditional church service. If you’d prefer a small ceremony in a separate location where loved ones can scatter your ashes, consider associated costs like travel and accommodation.
Beyond the cost of your funeral, some other end-of-life costs to consider include:
If you’re still looking at other options, don’t forget that:
Consider your current savings and assets before applying for a final expense policy. Once you’ve added those up, the difference between those assets (savings, income, investments, etc.) and any end-of-life expenses is the coverage amount you should consider buying. Our agents can help you find the right coverage level for your needs.
Final expenses can include medical costs, end-of-life care, and funeral services including burial and cremation. However, the death benefit can be used flexibly for whatever the beneficiaries decide. Credit card bills and other existing debts can be paid off using a final expense death benefit.
Many people choose a family member they trust as a beneficiary to take care of funeral costs.
If your spouse has passed away and you have no close relatives, though, it may make more sense to name your funeral home. This means your preferred funeral home would be the primary beneficiary of your policy payout. You can also name someone else as your secondary beneficiary to receive any money that remains after your funeral.
In this situation, the funeral home would receive the payout first when you die to cover your funeral costs and the rest would go to your secondary beneficiary.
You can usually arrange this ahead of time with your funeral home, but keep in mind that this is not an option for every facility. Some funeral homes require upfront payment and won’t accept other arrangements.
RAPIDecision® Final Expense is a permanent life insurance policy. As long as the premium is paid, the policy is in force and your insurance coverage remains fully intact.
Retired or more mature adults between the ages of 50-85 looking to supplement their existing life insurance or ensure final costs are taken care of may be interested in final expense insurance.
Remember costs go up as you get older, so if you anticipate needing a final expense policy, it’s better to get covered sooner than later.
Our innovative Rapid App process allows us to offer affordable, high-coverage policies right away to many of our customers. Approval depends on the answers to health questions on the application and results from public database sources, like Motor Vehicle Registration (MVR).
Policy issuance for RAPIDecision® Final Expense does not require a medical examination. Upon approval, full coverage begins immediately and your premiums and coverage amounts are guaranteed to stay the same for the life of the policy.
Fidelity Life is committed to helping you find the right life insurance. For more than 100 years, we’ve been helping everyday people like you get the life insurance you need and the peace of mind you deserve. Our mission is to work with you throughout your life. Whether just starting out, raising your children, or getting ready to enjoy retirement, we design products with families like yours in mind.
You can feel confident we’ll be there for your loved ones because we carry an A+ rating from the Better Business Bureau, as well as an A- rating (Excellent) from A.M. Best Company, the oldest and most widely recognized provider of ratings for the insurance industry.
Our commitment to our customers, and their families, shows up in our innovative products and our top-notch customer service.
Fidelity Life’s RAPIDecision® Final Expense is a simplified issue product, meaning it does not require a medical exam for policy issuance. Your approval is based on answer to health questions and results from public database sources, like Motor Vehicle Registration (MVR).
While it is often more expensive than term life insurance options, many people choose permanent life insurance for a variety of reasons. A permanent life insurance policy doesn’t expire. If your premiums continue to be paid, your policy stays in force your entire lifetime. This locks in both coverage and cost from the time you start your policy. As you age, life insurance premiums usually increase. So, a term policy that expires would be replaced by potentially the same coverage amount but a higher premium because you are older. A permanent policy, like RAPIDecision® Final Expense, maintains level premiums.
Customers may also want the option of a policy that builds a cash value, which is possible through a permanent life insurance policy.
No. Your RAPIDecision® Final Expense policy is a permanent life insurance policy with a guaranteed level premium. As long as you pay your premium, your policy is in force and your premium will not change.
Your RAPIDecision® Final Expense policy is a permanent life insurance policy. With a permanent life insurance policy, the premium covers both the death benefit and the build up of a cash value. The longer you keep your policy, the more the cash value can build. If you choose to lapse your policy, for whatever reason, the cash value at the time of lapse is paid to you. You can use that cash value however you choose.
Some health impairments are covered by RAPIDecision® Final Expense insurance, however it may not be appropriate for applicants with serious health issues or those with a limited life expectancy. However, once approved, coverage amounts are guaranteed for the life of the policy.
If RAPIDecision® Final Expense is not a good fit due to health concerns, RAPIDecision® Guaranteed Issue does not require a medical examination nor answers to any health questions. As a result, the policy requires no underwriting and all applicants within the age requirement can be approved.
If you are interested in RAPIDecision® Final Expense, you can start your quote here.
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