Layered protection with final expense insurance

By Carl Lishing, HealthMarkets Insurance Agency

Most people are familiar with term life insurance, but its often overlooked cousin, final expense insurance (whole life), can prove to be just as valuable.

Final expense insurance can pick up where term life leaves off. Many people purchase term life to cover things like support for a spouse or children. But it does have an end date, often terminating at 20 years.

Final expense insurance can be an important tool to help ensure that things like funeral expenses are paid, personal debts are paid and attorney fees are covered to settle an estate. One advantage is the policy pays right away if you die.

Even if you’re set to inherit from an estate, there is some wait time to do things like dispose of real estate and distribute assets. In the meantime, costs can mount.

With final expense insurance, payment is immediate, so anyone handling the estate details can pay for the funeral or any bills required to run a home. The money can be used for whatever is necessary. Other advantages include premiums in varying amounts with coverage levels that you choose, and premiums that don’t go up as you age. The death benefit is certain, as long as premiums are paid. And there is a cash value, something that term life doesn’t offer.

Coverage amounts can be as low as a few thousand dollars, or much higher. Typically, there is no medical exam involved, you simply choose the amount of coverage you wish to pay for.

I can help you determine if this product is best for you and your family. And, as always, there is no charge for my guidance.

You can reach licensed insurance agent Carl Lishing at 216-228-0765. HealthMarkets Insurance Agency is located at 16506 Detroit Avenue, in Lakewood. Office hours currently by appointment. Find out more at ClevelandInsurance.info.

HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and the District of Columbia. Not all agents are licensed to sell all products. Service and product availability varies by state. Agents may be compensated based on enrollment. No obligation to enroll. 48545-HM-0522l