You can fund your final expenses by prepaying a funeral plan with a funeral home, putting aside a lump sum outside the estate settlement process, or life insurance. ​Here is why whole life insurance is the most popular.

• ​​​​Whole life insurance can cost pennies on the dollar when compared to other policies

• ​​You are free to change any part of your funeral arrangements during your lifetime

• No need to tie up your own funds. They can be used during your lifetime

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"Each type of life insurance has been designed to meet your specific needs" -
Dennis Waton, President of Advanced Senior Advisors LLC

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Term Life Insurance

Term Life insurance is the least common, and least expensive type of policy used for final expenses.
​What it entails:
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• ​Premiums that can increase each year, or stay the same for a selected number of years before increasing
• Lower premiums especially if you are in excellent health
• Accidental death, plus many other riders that can be added to the policy
• Term Life insurance is traditionally used for temporary needs such as covering a mortgage or children's education in the event of premature death

Whole Life Insurance

Whole Life insurance is the most common and safest way to fund a final expense. When looking at final expense insurance, it will be a Whole Life policy that is presented. What it entails:​

• Premiums that can never go up
• Benefits that can never go down
• Cash Value
• Additional benefits for accidental death
• Modified Benefits for poor health

Contact Us to Discuss Your Options

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Interested in Universal Life Insurance*?
*We don't usually recommend this type of insurance, however, we are always happy to discuss it with you if you are interested

Universal Life insurance combines some features of both Term and Whole Life insurance with an investment feature:

• Excess of premiums above the current cost of insurance is credited to the cash value of the policy
• Premiums can be decreased as long as there is sufficient cash value to cover the death benefit
• Premiums can be increased to over-fund the death benefit, and increase cash value so that the policy can be used as a savings vehicle
• As with Term insurance, higher premiums should be expected, you may need to fund the death benefit later on​ ​

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