# Final Expense and Mortgage Protection | Lighthouse Legacy > Final expense and mortgage protection with simplified underwriting, compared across carriers by Sharon Donovan. Day-one coverage where you qualify. Canonical page: https://lighthouselegacystrategies.com/final-expense # So your family never has to find the money in a week Two of the most common calls I get are about the same fear from different directions: a funeral bill landing on the kids, or a mortgage landing on a spouse. Both have simple, affordable answers when they are set up early. ## The first question is what the money is for Final expense is a small whole life policy with simplified approval and no expiration. Mortgage protection is coverage sized and timed to your home loan. Neither is exotic. Both are about who is left holding the bill. ### Final expense insurance A small permanent policy, usually between $5,000 and $50,000, designed to cover a funeral, burial and the last bills. A few health questions, no exam, and premiums that never increase. ### Day-one coverage where you qualify If you qualify for level coverage, protection starts on day one. Guaranteed-issue policies with no health questions usually carry a two to three year graded period. I always try to qualify you for day-one coverage first. ### Mortgage protection Term coverage matched to the years left on your loan. The benefit pays your family, not the bank, so they decide whether to pay off the house or use the money another way. ### Riders for the years you are still here Many mortgage protection policies can include living-benefit or disability riders that pay if you become critically ill or disabled. I show you which riders are available for your situation and what they cost. ### Book a consultation Twenty to thirty minutes on your goals, your obligations and what you already own. I will answer your questions and outline clear next steps based on what matters most to you. ### Not ready to talk? Run the free calculators first. Nothing is stored and no contact details are required to see a result. ## The same five steps, every time ### A short conversation Income, obligations, timeline and what you are actually worried about. No product is mentioned and nothing is sold. Usually 20 to 30 minutes by phone or video. ### A look at what you own Group coverage, old policies, pension paperwork, retirement accounts. I map what each piece is doing today and where the gaps are, and you get that in writing. ### Options, side by side Two or three routes with the trade-offs written down: guarantees, access to the money, cost, and the scenario where each one underperforms. ### Application and underwriting I handle the application, the carrier questions and the beneficiary designations end to end, and you have my direct number the whole way through. ### Annual review Jobs change, families change, rules change. I review every policy I place each year so it keeps doing the job you bought it for. ## About final expense specifically ### What is final expense insurance? Final expense insurance is a small whole life policy, usually between $5,000 and $50,000, with simplified approval and no expiration. It is designed to cover funeral and end-of-life costs rather than replace decades of income. Premiums are level, the policy builds a small cash value, and the benefit goes to the person you name. ### How much does a funeral cost? The median funeral with burial in the United States runs roughly $8,000 to $10,000 before cemetery costs, and the figure changes over time. A final expense policy sized to your wishes means your family never has to come up with that money in a week. Bring what you want and I will size it to that. ### How much does final expense insurance cost per month? Most of my clients pay between $30 and $90 a month depending on age, health, gender and coverage amount. Because I compare multiple final expense carriers, the same coverage can vary by 30 percent or more between companies. The comparison is where the savings come from. ### Can I get final expense insurance with health problems? Usually, yes. Most final expense policies use simplified underwriting: a few health questions and no exam. Even with serious conditions, guaranteed-issue options exist. I find the strongest option your health qualifies for and tell you plainly which one it is. ### Is there a waiting period for final expense insurance? If you qualify for level coverage, protection starts on day one. Guaranteed-issue policies with no health questions usually have a two to three year graded period, during which the benefit is limited. I always try to qualify you for day-one coverage first and explain the difference before you choose. ### What is the difference between final expense and regular life insurance? Final expense is a small whole life policy with simplified approval and no expiration, built to cover funeral and end-of-life costs. Regular life insurance is sized to replace income, pay off a mortgage or fund a family's future, and it is usually much larger. Many people own both for different jobs. ### Is mortgage protection different from the insurance my lender offers? Yes, and the difference matters. Lender-offered coverage typically pays the bank directly and shrinks as your balance drops. The coverage I place pays your family, who can use it for the mortgage or anything else, and the benefit does not have to decline. ### Do I need mortgage protection if I already have term life? Maybe not. A properly sized term policy can do the same job. I look at what you have and tell you honestly if you are already covered. A meaningful share of the people I meet already are, and I tell them so. ### How much mortgage protection insurance do I need? At minimum, enough to pay off your current mortgage balance. Many families add a cushion for a year of bills so the surviving spouse is not forced into quick decisions. We size it to your actual loan and your budget rather than a formula. ### Does mortgage protection cover disability or job loss? Many policies can include living-benefit or disability riders that make payments if you become disabled or critically ill. Job loss coverage is rare. I show you which riders are available for your situation and what they cost before you decide. ### How much does mortgage protection insurance cost? For a healthy applicant it is often comparable to term life, frequently $40 to $100 a month depending on age, health, mortgage size and riders. Comparing carriers matters most here because pricing varies widely for the same coverage. ### How do I get started? Call (501) 516-9456 or book a time on the contact page. For final expense, I need your age, your state and a few health answers. For mortgage protection, I need your loan balance and the years left on it. Most quotes take one short call. ## The other three pillars These are not competing products. They solve different problems, and which ones you need depends entirely on what your money is being asked to do. ### Retirement Income Planning Turning what you have saved into monthly income you can count on, built around your pension, your Social Security and the gap that is left over. ### Annuities Fixed and fixed indexed annuities that protect a balance you cannot afford to lose and turn it into income that arrives whether the market cooperates or not. ### Life Insurance and IUL Term, whole life and indexed universal life with living benefits, sized to the job you are hiring the policy to do rather than a rule of thumb. ## Start with a conversation, not a recommendation. Bring what you already own. Statements, policies, benefit summaries. You will leave with a written picture of where you stand whether or not you ever work with me. --- Lighthouse Legacy Strategies, the independent insurance practice of Sharon Donovan, a licensed life insurance and annuity agent in Arkansas, Missouri and Texas, based in Little Rock, Arkansas. Retirement income planning, annuities, life insurance and IUL with living benefits, final expense and mortgage protection. Sharon Donovan (501) 516-9456 (call or text), sharon.donovan@wealthwave.com. By appointment, including evenings. Most consultations happen by phone or video. Important disclosures: Lighthouse Legacy Strategies is an independent insurance practice. Sharon Donovan is a licensed insurance agent (NPN 18170848) in Arkansas, Missouri and Texas. This website is for educational purposes only and is not financial, tax, legal or investment advice. Guarantees are backed by the claims-paying ability of the issuing insurance company. Policy loans and withdrawals reduce cash value and death benefits. Not affiliated with any government agency. Full set: https://lighthouselegacystrategies.com/disclosures Powered by [Launch Automation](https://launchautomation.ai/websites/)