Can final expense insurance be combined with life insurance?

Yes, final expense insurance can be combined with life insurance. The two types of insurance serve different purposes, but they can complement each other well.

Final expense insurance is a type of life insurance that is designed to help cover end-of-life expenses such as funeral costs, medical bills, and outstanding debts. The benefit amount is typically smaller than that of a traditional life insurance policy, and the application process is often simpler and less strict.

Life insurance, on the other hand, is designed to provide financial protection to the policyholder's loved ones in the event of their death. The benefit amount can be used for a wide range of expenses, such as mortgage payments, college tuition, and living expenses.

When combined, final expense insurance can provide coverage for end-of-life expenses, while the life insurance component can provide ongoing financial protection for the policyholder's loved ones. This is particularly useful for people who want to ensure that their loved ones are taken care of both in the short-term and long-term.

It’s important to consider and weigh in the pros and cons, and look for the best options for your individual needs and budget before making a purchase. It is advisable to consult with a licensed insurance agent or financial advisor who can guide you through the process of finding the right coverage for you and your family.

Last updated: January 10, 2023