Final Expense Insurance

Most people do not like talking about end-of-life issues, but it is important to plan for them. Expenses associated with death, such casket, funeral and burial costs can have a substantial financial impact on the loved ones you leave behind. Final expense insurance helps protect loved ones from paying these costs out-of-pocket. Ensure your family has one less thing to worry about with this end-of-life policy.

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Your Final Expense Options

Most people get final expense insurance to cover funeral and burial costs, medical bills, other end-of-life expenses, credit card debt. You can also choose to add protection to cover terminal illness and take advance payments for treatment or medical bills.

Funeral expenses are getting higher and higher each year. In 1960, the average cost of a funeral without a vault was just over $700. In 1985, that number rose to $2,737. In 2014, the average cost was more than $8,508. For 2022, Oregon’s average funeral expense is $10,418. And the costs will continue to rise!

The cheapest final expense insurance and funeral plans in Oregon are as low as one dollar a day. Yes, that’s right. With a little long-term planning, you can ensure your final expense insurance will help your family exactly the way you want it to when you pass away.

You have the option to purchase up to $100,000 of policy coverage that can extend to the age of 100.

Term Life

This is the cheapest final expense insurance option. It is a temporary coverage limited to a certain number of years (the term). Depending on your current age and other life factors, you may purchase a 10, 15, 20, 25, or 30-year term.

Whole Life

This is permanent coverage, and includes a death benefit plus an investment. Some of the premium you pay every month goes to build cash value. It is also usually the most expensive form of coverage because most policies do not require a medical exam for approval.

Guaranteed Universal Life (GUL)

This policy is often referred to as a hybrid between term and whole life. Rates are a little more expensive than term life, but less expensive than whole life, and instead of selecting coverage for a limited number of years, you get to choose up until a certain age, such as 90, 95, 100, 105, 110, or 120.

When you consult with us:

You will have a number of different options to choose from. To give your family the coverage that will help them the most, you will need to compare all of the different final expense insurance policies available to you. Health Plans In Oregon is here to help you and there is no obligation to sign up.

Facts about Final Expense Insurance in Oregon

  • Final expense policies don’t expire like term policies.
  • In most cases, a medical exam isn’t required.
  • The average final expense policy costs between $30 – $70 a month.
  • Premiums depend on your age, sex, health, amount of coverage, and the specific insurance company you choose
  • You can get instant quotes from a trusted insurance consultant like Health Plans In Oregon.

How Much Does Funeral Insurance Cost?

The average final expense policy costs between $30 – $70 a month. Premiums depend upon health, age, and the amount of coverage. Of course, different burial insurance companies have different rate charts. To give you an idea, consider a list of sample burial insurance rates for a 59-year-old woman who smokes:

  • $5,000: $22.65
  • $10,000: $43.08
  • $15,000: $63.51

Who Qualifies for Final Expense Insurance?

We can find a burial insurance policy for almost everybody, but choosing the right plan might save money and get you better benefits. For example, you can buy guaranteed acceptance life insurance plans that accept any qualified person from about age 50 to over 80. However, these plans impose a waiting period. If the insured person dies before this waiting period ends, the plan may only return premiums or pay some percentage of the face value. In some cases, it might be better to answer a few health questions and try to qualify for cheaper rates and better pay out.

How can your family utilize the funds from your life insurance policy?

We’re sure you don’t want your loved ones to worry about money while they’re grieving. Your family may be able to use final expense insurance to pay for: medical bills, nursing home or residential care, funeral service, burial or cremation, funeral flowers, music and other funeral arrangements. It can also be used as a donation to a charity that means something to you or your family.

Does Final Expense Insurance Expire?

Depending on which Final Expense policy you choose, some final expense insurance doesn’t expire as long as you continue paying your premium.

Are medical exams needed to get final expense insurance?

In most cases, a medical examination is not required. Typically, coverage is granted based on the answers to health-related questions on the application.

Another good thing with final expense insurance is – it is very flexible. You can easily select a policy to pay only for the things you think are applicable. For example, if you just want your family to have enough money to cover your burial expenses, you can purchase only what you like. If you want to add more, add more. It is that simple.

And here’s the most important part…
The right amount — In selecting your Final Expense policy, you will have to determine how much coverage you should purchase. You’ll need to determine how much is needed by your family in order to pay your funeral expenses, medical bills or debts you may leave behind. Don’t worry because we are here to guide you in every step you make.

When you consult with us:

You will have a number of different options to choose from. To give your family the coverage that will help them the most, you will need to compare all of the different final expense insurance policies available to you. Health Plans In Oregon is here to help you and there is no obligation to sign up. 

Give us a call at 503-928-6918. Our assistance is at no cost to you.

Get free help from your local, licensed, certified, 5 star reviews and well experienced licensed insurance agent​.

*By completing this form, you agree that an authorized representative or licensed insurance agent may contact you by phone, email, text, mail or face to face to answer your questions or provide additional information about your Medicare plan options. Not affiliated or endorsed by Medicare or any state or federal governmental agency. 

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