In times of grief, the last concern a mourning family should bear is the financial strain of a funeral, an expense that reached nearly $9,000 in 2018. Fortunately, the death benefit provided by a life insurance policy can serve as a valuable resource to help offset these costs, offering much-needed relief during an already challenging period.

Often termed as “final expense life insurance,” policies with modest payouts, including guaranteed acceptance life insurance, cater to individuals seeking coverage without the need for extensive medical underwriting. This type of insurance is commonly employed by those in later stages of life, offering a swift approval process, typically within a few days, without the necessity of a physical examination or health inquiries. While beneficiaries retain the flexibility to allocate the proceeds as they see fit, these policies are frequently utilized to address funeral expenses, burial costs, and outstanding medical bills, providing a financial cushion during a time of emotional strain.