Life insurance for final expenses
Permanent whole life coverage sized for final expenses, legacy gifts, and debt protection. Level premiums and a death benefit that never decreases.
What it covers
- What it pays for
- Pays a death benefit, generally not taxed, to beneficiaries for any purpose: funeral/burial costs, medical bills, debts, or legacy gifts.
- How it works
- Level premiums locked at issue, with a death benefit that never decreases as long as premiums are paid.
- Who can get it, and when
- Simplified underwriting with health questions (no medical exam); tiers with no health questions are available, with graded benefits, for harder-to-insure applicants.
What it costs
Premiums depend on age, the face amount, tobacco use and health class.
Hawkins Insurance Group, LLC is not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
What is good about it
- A death benefit for any use by beneficiaries
The catch
- Graded benefit options pay less in the first years
- Face amounts are modest compared with traditional whole life
- Premiums higher per dollar of coverage than term life
Mistakes to avoid
- Not understanding graded benefit terms. Death in the first years may only return premiums paid plus interest
- Buying more coverage than needed and overpaying premiums that could go toward savings instead
- Replacing an existing policy to get a different one may require new underwriting and restart the graded period
Common questions
- Graded policies accept you without full health qualification but pay reduced benefits if death occurs in the first years.
- Final expense is permanent. It never expires as long as premiums are paid. Term life ends at a set age, often when coverage is needed most.
Keep learning
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