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FINAL EXPENSE LIFE INSURANCE

Protect loved ones from financial hardships

Final expense insurance

Losing a loved one is an extremely difficult experience. Picking up the pieces while dealing with the accompanying emotions can be stressful. And making matters worse is the financial burden out-of-pocket expenses can impose at the end of life. They average $11,618.¹

Without a final expense life insurance policy, families may have a hard time coming up with these funds quickly. Final expense life insurance can help prevent families from having to withdraw from their savings or sell precious assets to come up with the necessary funds required to bury a loved one.

What is final expense life insurance?

While most people don't like to talk about end-of-life issues, it is important to plan for them. Expenses associated with death, such as caskets and embalming, can have a substantial financial impact on those you love. Final expense life insurance can help protect loved ones from having to pay these costs out of pocket.

In 2017, the cost of the average funeral exceeded $8,700.² In most cases, a basic funeral service will include a memorial, death certificates for the deceased, and housing the remains. In addition to those costs, there are also charges involved for goods and services, such as transportation, preparation and embalming, use of the funeral home, a casket and headstone, a burial plot, gravesite, the burial service, or alternatively, cremation. There may also be additional costs, such as flowers and the printing of memorial cards.

Final expense life insurance policies from Transamerica

Purchasing a final expense life insurance policy through Transamerica is easy, and your age and health may not affect your approval for coverage. We offer the following three policies:

Immediate solution
10-Pay solution
Easy solution

Advantages of Transamerica's final expense life insurance policies:

No waiting period for coverage to begin
No increase in premium due to age

Consumer Brochure, including NY

Social Security only pays a lump final expenses sum of $255 for those who qualify.³

- Social Security Administration

¹ "Out-of-Pocket Healthcare Expenditures at the End of Life," The National Bureau of Economic Research home page, nber.org, accessed Aug. 26 2019.

² National Funeral Directors Association, Statistics, nfda.org, updated July 18, 2019.

³ "Benefits Planner: Survivors | If You Are The Survivor," SSA.gov, accessed Aug. 26 2019.

This life insurance does not specifically cover funeral goods or services, and may not cover the entire cost of your funeral at the time of your death. The beneficiary of this life insurance may use the proceeds for any purpose, unless otherwise directed.

Immediate Solution 121, 10-Pay Solution and Easy Solution are whole life insurance policies issued by Transamerica Financial Life Insurance Company, Harrison, NY 10528 in New York and by Transamerica Life Insurance Company or Transamerica Premier Life Insurance Company, Cedar Rapids, IA 52499 in all other jurisdictions. Policy Forms Nos. WL10 and WL11. Policy form and number may vary, and this product may not be available in all jurisdictions. Insurance eligibility and premiums are subject to underwriting. In most states, in the event of suicide during the first two policy years, death benefits are limited only to the return of premiums paid.

Transamerica Financial Life Insurance Company is authorized to conduct business in New York. Transamerica Life Insurance Company and Transamerica Premier Life Insurance Company are authorized to conduct business in all other states.