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Final expense life insurance is a type of whole life insurance designed to cover end-of-life expenses, such as funeral and burial costs. It's primarily intended for seniors and their families to ease the financial burden associated with these expenses.
Final expense insurance typically has lower coverage amounts compared to traditional life insurance. It's meant to provide just enough coverage for funeral and burial expenses, whereas traditional life insurance offers larger death benefits for broader financial protection.
Final expense insurance offers peace of mind by ensuring that your loved ones won't face the financial strain of covering your funeral, burial, and related expenses. It can also be easier to qualify for, even if you have pre-existing health conditions.
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