Final expense insurance is designed to cover the bills that your loved ones will face after your death. These costs will include medical bills and funeral expenses. Final expense insurance is also known as burial insurance. Unfortunately, even bare-bones funerals can cost thousands of dollars.
Mortgage life insurance provides a means of paying off your mortgage upon death. You pay regular premiums to keep the coverage in force. With a mortgage life insurance policy, you choose is the beneficiary of your policy. Typically a spouse is the beneficiary.
Term Life is life insurance that provides coverage at a fixed rate of payments for a limited period of time. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions
