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Who should consider final expenses insurance?

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Should you think about getting final expenses insurance?

Wanting to protect the people you love from financial worry is important to Canadians. We took a poll, and 72% want to provide some financial support to their family after they pass away.

Thinking about your loved ones’ financial position after you pass away is a big burden to carry – especially when it’s way better to focus on the good things in life, like creating a home you love, travelling the world and watching your family grow up.

Here’s where you can learn more about how final expenses insurance can help.

We’ll send you a free information brochure with everything you need to know about North Cover.

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Who can get final expenses insurance?

Regardless of your stage of life, whether you love to travel abroad or opt for spending time at home, final expenses insurance coverage can play an important role in your overall financial planning.

Getting a final expenses insurance policy with North Cover is simple – acceptance is guaranteed for Canadian residents aged between 20 and 80 (excluding Quebec), and there are no nosy health questions, medical tests, or confusing paperwork needed to apply.

Final expenses insurance isn’t just great for yourself, either. We’ve also designed our policies so you can cover yourself with a single plan, or you and your partner with our joint plan.

Considering final expenses insurance? We’ve got you covered.

At what age can you get final expenses insurance?

Once you’ve blown out the candles on your 20th birthday cake, Canadian residents (excluding Quebec) are guaranteed acceptance for North Cover Final Expenses Insurance – and it stays that way until you’re 80 years old. Applying is easy, with no forms, medical or blood tests, meaning you won’t have to worry about your current health and lifestyle impacting your coverage.

Plus, your policy gets better over time:

Early cash out option at 85

Hitting 85 is already something to celebrate, but you can also choose to cancel your coverage and cash out 75% of your benefit amount.

Don’t pay after 90

Once you turn 90, you no longer have to pay any premiums – and still get to keep your coverage and all the benefits it provides.

Your North Cover Final Expenses Insurance policy also covers any cause of death, with coverage for accidental death in the first 12 months and any cause of death after this time (excluding suicide for 24 months).

Can I buy final expenses insurance for my parents?

You can purchase final expenses insurance for your parents or another loved one. You can pay the premiums for them, as long as you either have power of attorney (POA) or they consent in writing and have walked you through the process and answered all necessary questions.

If you don’t have POA, they will be the policyholders and have complete control over the policy.

If you do have any questions, our team of Canadian-based licensed advisors are always happy to help and are just a phone call away.

How does final expenses insurance help Canadians?

Many of us aren’t prepared for the costs that can come after we pass away. Expenses like funerals, burials, cremation, and more can add a ton of financial stress to your loved ones’ plate.

Final expenses insurance helps ease some of that financial burden that many of us are keen to avoid. Final expenses insurance coverage can go towards whatever your family needs to pay for most when you pass away, from funeral expenses to bills.

Am I covered out of the country?

If you love to travel, we won’t limit that! Frequent travellers, including snowbirds, should consider final expenses insurance.

North Cover Final Expenses Insurance covers you wherever you are in the world as long as you’re a Canadian resident living in Canada (excluding Quebec). The only rule is that you must not have plans to move internationally when going through the application process.

Help protect your family financially with final expenses insurance

How much final expenses insurance coverage do I need?

How much final expenses insurance coverage you need is up to you. Seriously, we mean it. With North Cover Final Expenses Insurance, you can select a coverage amount from $3,000 to $25,000.

If your final wishes are modest but your savings aren’t, you may want a little less coverage. On the other hand, if you imagine a big celebration of life, that might come with a big bill – and you can avoid your loved ones having to cover it by making sure you consider this when it comes to your level of coverage.

Here are some things to consider when choosing a coverage amount for final expenses insurance:

  • How you want your family to celebrate you after you pass, such as your desired funeral arrangements. This might range from a small gathering to a celebration of life that’s the party of the decade.
  • How much you have in personal savings, as well as your family’s savings.
  • If your loved ones will need to travel after you pass away, such as to attend your funeral or deal with your assets, and any other associated travel and accommodation costs.
  • Government support you may be eligible for, such as financial assistance for veterans.
  • Personal bills or any debts you may leave behind, such as a mortgage, credit card debt, or medical bills.

Our team of licensed advisors can make sure you have a policy in place that’s right for your personal finances, your family’s needs, and more.

How much does final expenses insurance cost per month?

Your monthly premiums are based on the coverage amount you choose, from $3,000 all the way up to $25,000. Some other factors that play a part in how much final expenses insurance costs are your age and smoking status.

Another bonus? When you turn 90, you’ll no longer need to pay premiums, but your policy will remain active.

How do I buy final expenses insurance?

We’ve made buying final expenses insurance easy. If you’re a Canadian resident (excluding Quebec) aged between 20 and 80, you’re eligible to buy North Cover Final Expenses Insurance – and better than that, you’re guaranteed acceptance.

Get a quote from one of our licensed advisors today. There are no medical tests, no invasive health questions, and no complicated paperwork to apply – we promise.

Is final expenses insurance cheaper if you’re healthy?

North Cover Final Expenses Insurance doesn’t require you to provide your medical history or undergo any medical tests in the application process. However, non-smokers do receive lower premiums than smokers.

Remember that even when you’re in the best shape of your life, planning ahead is important. You never know what’s around the corner, so it’s important to have coverage in place. That way you can protect your loved ones financially and your peace of mind.

We make it easy to take care of your loved ones. Get in touch and we’ll show you how!

Benefits of choosing North Cover Final Expenses Insurance

Acceptance guaranteed

If you’re a Canadian resident (excluding Quebec) and between 20 and 80, you’re guaranteed acceptance for final expenses coverage. It’s that simple.

No medical tests or tough questions

Life tests us enough. We don’t want to add to that. Get final expenses insurance coverage without any medical tests, blood work or nosy questions.

Coverage for any cause of death

Life is full of surprises, including the kind no one likes thinking about. You're covered for accidental death in the first 12 months, and any cause of death after this time (excluding suicide for 24 months).

3 x payout for accidental death

If your death is the result of an accident, your loved ones will get triple your coverage amount.

Your coverage, your choice

How much you need should be up to you. With North Cover Final Expenses Insurance you can choose a level of coverage between $3,000 and $25,000.

Single or multi-life coverage

We all have different needs, so pick what works best for you. If single coverage works for you, awesome. And for those needing it, we also have multi-life coverage for you and your partner.

Quick, simple claims

Your loved ones will receive their cash payout fast through a simple claims process. They’ll have money on hand to help cover funeral costs or any other final expenses.

Early cash out option

When you hit 85, you can end your policy and still get 75% of your benefit amount. Who says getting older is a bad thing?

No premiums after 90

You’ll have a lot of celebrate on your 90th birthday – including no more premiums to pay (but you get to keep your coverage!).

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How to get covered

Ask for a quote

Get in touch with our team of licensed advisors who can provide you with a quote in minutes.

Select coverage

Tell us what amount you need and tailor your policy to what works for you. If you're unsure, our licensed advisors can help guide you.

Get covered

Protect your loved ones from your final expenses, including funeral costs.

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