Top FAQs

The average face amount (Death Benefit) of a Final Expense Life Insurance policy in 2015 is about $14,776, however, everyone’s situation is unique. A good guide is to start with the estimated cost of the funeral service of your choice and then to add the additional benefits you would like to leave to your loved ones. The calculator above helps you do this. It is important to remember that funeral and burial costs have consistently increased over time.

• The average funeral cost today is $9,343.

• Additional fees for cemetery, monument, flowers, & obituaries can increase this cost to nearly $12,000.

• When considering the cost increases over the past 40 years, with an estimate of 5% inflation per year, by 2030 the cost would rise to $18,276.

• The Social Security Death Benefit only provides a lump sum benefit of $255 for those who qualify.

If I am eligible for Medicare, how do I enroll?

  • If you have already started receiving Social Security or Railroad Retirement benefits, you will automatically be enrolled and will receive your Welcome paperwork and Red, White, and Blue Medicare card in the mail 3 months before your 65th birthday. Your Medicare coverage will start the first day of the month you turn 65 (if your birthday is on the first day of the month, your Medicare coverage will start the first day of the prior month).
  • If you have not yet started receiving Social Security, you can apply online to enroll in Medicare Parts A & B at http://www.ssa.gov/medicareonly/ - you should do this approximately three months before age 65 or three months before you retire. You can also enroll over the phone by calling Social Security at 1-800-772-1213. If you worked for a railroad, call the RRB at 1-877-772-5772. Or, last but not least, you can schedule an appointment to enroll at a local Social Security office. (This also applies if you deferred Medicare Part B in the past due to employer coverage.)
  • If you are under 65 and receiving Social Security benefits due to disability you will automatically be enrolled after receiving benefits for 24 months and your coverage will start effective on the first day of your 25th month. If you have ALS you automatically get Part A and Part B the month your disability benefits begin.

In most cases, you will receive your Medicare card about 3 weeks after you apply. If you are already receiving Social Security benefits when you turn 65, your enrollment into Medicare is automatic. Your card will just show up in your mailbox about 2 months before you turn 65.

Your Part B premium amount will be deducted from your Social Security benefit check before it's mailed to you. If you have Part B but aren’t yet collecting Social Security, you’ll get a bill from Medicare.

You only give the information that you are comfortable with. The amount and type of information that is requested is dependent on what type of policy and which companies you would like to be approved with. For Medicare Supplement insurance, unless you are in an Open Enrollment or Guaranteed Issue period, this usually includes general health history questions as well as a brief phone interview, and sometimes your current prescriptions. When applying for final expense life insurance, this will usually just entail a series of general health history questions, and only rarely a brief phone interview.

To officially apply and submit your application to the carrier of your choice, the required forms include your full legal name, date of birth, address, citizenship and social security number.

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