Coverage types
Final expense, term, and other types of life insurance
How final expense coverage generally differs from term life insurance, and questions to ask when deciding which type fits your situation.
Term life insurance
Term life insurance generally provides coverage for a set period, such as 10, 20, or 30 years. If the term ends while you are living, coverage typically ends unless the policy allows renewal or conversion. Terms, pricing, and renewal options vary by insurer.
Final expense insurance
Final expense coverage is usually a smaller whole life policy intended to last for your lifetime as long as premiums are paid. It is often used to help with end-of-life costs. Benefit amounts, waiting periods, and health questions depend on the policy.
Questions that help you choose
Ask how long you want coverage to last, what you want the benefit to help pay for, what premium you can keep up with, and whether the policy has a waiting or graded benefit period. Review the actual policy documents before deciding. This is general information, not personal financial advice.
Educational information only. Policy terms, underwriting, and applicable law govern any coverage.