How much coverage do I need?

Add up what would still need paying: the mortgage, other debts, final expenses, and the income your household would lose. Subtract savings and any coverage you already have. What's left is the gap. We'll do that arithmetic with you rather than quoting a rule of thumb.

I have health conditions. Can I still get covered?

Usually yes, at a higher rate or through a simplified or guaranteed-issue policy. Because carriers underwrite differently, the same person can get very different answers from different companies — which is exactly what an independent agent is for.

Is the work policy enough?

Group coverage is usually one or two times salary and usually ends when the job does. It's a good start, not a plan. Owning a policy outside work means it follows you.

Does Medicare pay for a funeral?

No. Medicare covers health care, not funeral costs. Social Security pays a one-time lump-sum death payment of $255 to an eligible surviving spouse or child. That's the extent of it — which is why final expense policies exist.

Life Insurance

Life insurance can provide a death benefit to beneficiaries and help protect against financial obligations such as income replacement, final expenses, debts, or legacy goals. Policy types, premiums, underwriting, cash value, guarantees, and exclusions vary.

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Common types of life insurance

Term life insurance for coverage over a defined period
Whole life insurance with permanent coverage and policy-defined cash value
Final expense or burial insurance designed for smaller death-benefit needs
Other permanent life products with features and guarantees that vary by policy

How much coverage to consider

A useful starting point is to total the financial obligations that would remain if your income stopped, then subtract accessible savings and other resources. Consider debts, mortgage or rent obligations, dependent support, final expenses, and the amount of income your household would need replaced.

What to compare before applying

Death benefit amount and coverage duration
Premium guarantees and whether premiums can change
Medical underwriting, health questions, or simplified-issue requirements
Cash-value guarantees, surrender charges, loans, and nonforfeiture provisions for permanent policies
Exclusions, contestability provisions, and policy-specific limitations

Beneficiaries and ownership

Beneficiary designations and policy ownership are important. Review them after major life events and make sure the policy reflects your current intentions. Estate, tax, and trust questions may require advice from a qualified legal or tax professional.

Frequently asked questions

Is the lowest quoted premium always the best choice?

No. Compare the same death benefit, policy type, duration, underwriting class, guarantees, and policy provisions. An initial quote may change after underwriting.

Can life insurance be used for final expenses?

Yes. Many people use life insurance to help beneficiaries manage funeral, burial, debt, or other final expenses, but the policy should be sized for your broader goals and budget.

Compare represented life insurance options

O’Neal Insurance Group can help you compare represented life insurance options and explain differences in underwriting, guarantees, benefits, and policy structure.

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