Final Expense (NSDBP)

Final Expense Insurance: The Basics

A final expense life insurance policy isn't the same as what's known as “insuring your life.” Insuring your life concerns leaving your family and loved ones with enough support after you pass away. With funeral insurance, the value of your policy is proportionate to the expense of your desired funeral. While other forms of life insurance can top a million dollars, it's rare for final expense insurance policies to get above $40,000.

The percentage of U.S. households without burial insurance is at its highest level in 50 years, leaving millions of families heavily burdened with paying for their loved one's funeral costs.

Funeral costs are on the rise. According to the New Jersey State Funeral Directors Association, the average cost of an adult funeral is nearly $10,000. This cost does not take into account the additional cemetery costs and ancillary services, which means this bill can exceed $13,500. At present, the government death benefit only pays $255 to those who qualify.


How Does Final Expense Insurance Work?

Final expense insurance, like the prepaid plans, is meant to cover the cost of funeral and burial services. However, unlike burial insurance and preneed or prepaid funeral packages, final expense insurance can also help cover outstanding debts, probate fees, and other remaining expenses. This type of life insurance also allows you to choose your beneficiary, unlike burial insurance and preneed plans. While a preneed plan is usually payable to the funeral home, a final expense benefit goes straight to the beneficiary you choose. This type of policy can increase in value over time. It works like a savings account, with the balance going up as you pay in.

  • Final expense insurance policies allow you to select a beneficiary, which means you can choose an agent who's legally responsible for the allocation of benefits. Commonly, people choose a partner or relative to act as a beneficiary to ensure instructions are followed and funds are properly distributed.
  • You won't be required to take a medical exam to receive coverage, and your policy won't be canceled due to changes in health. Final expense insurance is available to those in poor health with graded benefits, meaning only a portion of your policy will be available for the first few years of coverage.
  • Additional benefits can be awarded in the case of an accidental death.
  • Final expense insurance can cover a number of costs. This allows loved ones to use the benefits for the expenses they need to pay, as opposed to just covering burial costs. This coverage includes common final costs, such as medical bills, probate or legal fees, and other expenses other policy types don't cover.
  • The flexibility of final expense insurance also extends to your choice of service providers. This means you can allocate funds without being tied to a certain provider, geographic area, or plan. Final expense insurance leaves your options open, a great benefit given the length of time that may pass between choosing and using a policy.
  • Given its flexibility, final expense insurance mitigates some of the worry preneed plans or burial insurance may leave unresolved. Many of the concerns and limitations of those plans don't apply to final expense.


Burial/Preneed/Prepaid Insurance

Final Expense Insurance

Expenses Covered:

Burial/funeral costs only

A variety of final expenses


Funeral home

Your choice

Specific Arrangements:

Locked in at the time you choose

Remain flexible, although you give instructions


Varies by provider and selection—solely covers funeral costs

A $10,000 policy costs about $2 per day.

Benefit Amount:

Once the plan is paid for, the benefit amount remains the same.

Tax-free savings are built up over time up to $35,000.

Balance May Be Borrowed Against:




 Announcing The National Senior Discount Benefit Program

(NSDBP) pays 100% of funeral expenses up to $40,000, regardless of your health condition, giving you peace of mind. No medical exam is required, and one nice benefit of the program is coverage builds cash value which can be used for family emergencies, such as medical bills, long term illness etc. Unlike term insurance which does not offer cash value and expires after the specified time period, whole life insurance protects you up to age 121 and gives you access to cash if you need it.

The National Senior Discount Benefit Program (NSDBP) is designed to help with final expenses and more. It can provide affordable protection that pays benefits directly to the person you choose to take care or your outstanding medical bills, unexpected expenses or debt that you leave behind.

  • For ages 50-85
  • Face amounts from $2,000 to $40,000
  • Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement Rider included in the policy at no additional cost
  • Optional: Accidental Death Benefit Rider
  • We offer competitive premiums that fit many budgets
  • The life insurance cannot be cancelled for any reason as long as the premiums are paid.
  • There is no medical exam; coverage is based on answers to a few health questions
  • Paid benefits do not decrease
  • Premium rates never increase
  • Benefits are paid to your beneficiary.

No Medical Exam Life Insurance






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