By OnePoint Insurance Agency – proudly serving Georgia and beyond

Why This Decision Matters

Losing a loved one is hard enough. But when that grief is compounded by funeral costs, medical bills, or an unpaid mortgage, the pain multiplies. Choosing the right life insurance isn’t just about money—it’s about peace of mind and protecting your legacy.

Two popular options—Final Expense and Term Life Insurance—may sound similar but serve very different needs. Let’s break them down.

What Is Final Expense Insurance?

Also called burial or funeral insurance, Final Expense Insurance is a type of whole life policy that covers end-of-life costs.

Key Features:

• Coverage: $2,000 to $50,000

• Medical Exam: Rarely required

• Policy Length: Permanent (lifetime coverage)

• Use: Funeral costs, medical bills, legal fees, minor debts

Best for:

• Seniors ages 50–85

• Fixed-income individuals

• Those who might not qualify for traditional life insurance

Heads-up: This is not income replacement. It’s meant for final expenses only.

What Is Term Life Insurance?

Term Life Insurance provides coverage for a set number of years—like 10, 20, or 30. If the insured dies during the term, the policy pays out a tax-free death benefit. If they outlive the term, coverage ends unless renewed or converted.

Key Features:

• Coverage: $50,000 to $5,000,000+

• Medical Exam: Sometimes required, but many no-exam options exist

• Policy Length: 10, 20, or 30 years

• Use: Income replacement, mortgage payoff, child education, business protection

Best for:

• Parents of young kids

• Homeowners

• Entrepreneurs

• Primary earners in their prime working years

Note: Term policies don’t build cash value. If you outlive it, it expires.

Quick Comparison Table

Final Expense vs. Term Life Insurance – Quick Comparison

Coverage Amount

• Final Expense: $2,000 – $50,000

• Term Life: $50,000 – $5,000,000+

Policy Length

• Final Expense: Lifetime (permanent)

• Term Life: 10, 20, or 30 years (temporary)

Medical Exam Required?

• Final Expense: Rarely needed

• Term Life: Often not required for lower coverage

Cash Value Accumulation

• Final Expense: Yes (small amount)

• Term Life: No

Primary Purpose

• Final Expense: Covers funeral costs, medical bills, and minor debts

• Term Life: Replaces income, protects against large debts, supports dependents

Cost per $1,000 of Coverage

• Final Expense: Higher

• Term Life: Lower

Real-Life Scenarios

Lillian, 74 – Retired in Augusta, GA
She gets a $15,000 final expense policy with no exam. Six years later, it pays for her funeral—no burden on her kids.

Marcus, 36 – Father of 3 in Marietta, GA
Buys a $750,000 term policy for under $30/month. Dies in an accident 12 years later. His family is financially secure.

Linda, 53 – Business Owner in Columbus, GA
Gets both: $500,000 term life and $20,000 final expense. One protects her business and family, the other her funeral.

Common Misconceptions

“I’m too old to get covered.”
False. Many final expense plans accept applicants up to 85.

“My job’s life insurance is enough.”
It usually ends when you quit or retire—and rarely covers enough.

“Term is only for the rich.”
Not true. $500,000 policies can cost under $1/day for healthy applicants.

“Term always needs a medical exam.”
Not anymore. Many insurers offer no-exam options up to $1 million or more.

How to Choose the Right Policy

Ask yourself:

• Do I need to replace income or just cover funeral costs?

• Do I want the lowest premium or permanent coverage?

• Should my policy build cash value?

• What financial gaps would I leave behind?

Still unsure?
Click here to schedule a free consult »
Or call us now at 770-884-8117.

How Claims Are Paid

• Claim is filed

• Death certificate submitted

• Processed in 7–14 business days

• Payout via check or direct deposit

Tip: Final Expense usually pays out faster due to simpler underwriting.

The OnePoint Advantage

Why do families across Georgia and beyond trust us?

• No-pressure consultations

• Bilingual agents

• Dozens of A-rated carriers

• Annual policy check-ins

• Full claim support

Let’s Secure Your Legacy

Protecting your loved ones shouldn't be confusing or expensive. Whether you need $10,000 or $1 million in coverage, OnePoint Insurance is here to help.

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