Also known as Final Expense or Simplified Issue Life Insurance is a life insurance product with a specific, simple application process and a smaller face value. Typically, face values can range from $5,000 to $25,000, although, policies can often be written outside of that range in either direction. This particular type of insurance is designed to be more convenient and able to be purchased without requiring a medical exam or a lengthy questionnaire.
Generally, the passing of a loved one will leave behind unpaid expenses that, if left unattended, will be a burden on the family. Burial insurance is simplified life insurance that pays off these debts, ensuring that everything is taken care of should the worst occur.
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