Final expense coverage is designed to cover medical bills and funeral expenses when you pass. A final expense policy is also known as burial or funeral insurance and is popular with seniors, you may purchase this coverage up until 85 years of age. No expiration if premiums are paid.
It’s the most cost-effective way to cover burial costs and any other expenses you provide for your loved ones. However, if you absolutely need financial protection and your age or health would disqualify you from getting traditional coverage, a final expense life insurance plan may be worth looking into.