Final Expense life insurance in detail
Why final expense life insurance?
Final expense life insurance is life insurance that will provide the funds to take care of our final expenses so our families won’t have to. Final Expense life insurance is the best policy to take care of final expenses because it will last our whole life. The premiums will never increase and the coverage will never decrease. Final Expense life insurance also builds a cash value that can be used to pay our premiums if we find ourselves in a financial bind someday. The cash value should serve as a safety net to help us keep our policies if we’re ever unable to make payments in the future. Final expense insurance also referred to as burial insurance does not have a two year waiting period like guaranteed issue policies have, and will not increase premiums like some term life insurance policies do. The younger you buy your final expense life insurance policy the lower cost it will be, it’s on sale now compared to any other time in your life because you’ll never be younger than you are today.
Do I have to meet certain conditions to get approved for final expense life insurance?
No, we simply complete an application online consisting of a few heath questions and do a three way call with the underwriter for an immediate approval. There’s no exam or anything else to do. While we’re on the phone the underwriter will look at your medical conditions with the online Medical Insurance Bureau and your prescriptions with Scrip-check, to give us a decision right over the phone.
Final expense insurance is typically a low cost, low payout solution. For this reason, it’s easier to get approved compared to other types of life insurance. Considering the lower payout, people that tend to opt for final expense are in the older age group that aren’t looking for a ton of coverage. If you’re looking for a payout amount that will cover burial expenses with a bit extra, final expense is your ideal choice.
Will health conditions prevent me from getting a final expense life insurance Policy?
No, we can write a policy for anyone age 50 to 80 years old irregardless of your health.
The better your health the lower the premium will be just like with any life insurance policy, but with several companies to choose from we’ll find you the best rate there is for your individual situation. Because the final expense policies are simplified issue, they are much easier to qualify for. So people that have had heart attacks, heart surgeries, cancer, and other major health problems can usually be insured with first day coverage if it’s been over 2 or 3 years since they had they were treated. If you currently have a major health problem we can issue a guaranteed issue policy for you.
When will my final expense life insurance policy become active if I’m approved?
As soon as you’re approved and the first premium is paid. A final expense life insurance policy has no waiting period which means your policy covers you day one. Guaranteed Issue policies offered by AARP, Colonial Penn, Met Life, and others have a 2 year waiting period. Whole Life insurance policies do not have a waiting period. Call 1-800-657-7178 to get covered today!
Final Expense Insurance Vs. Whole Life Insurance
What is the difference between Final Expense and Whole Life Insurance? Nothing, they are the same, when you need life insurance coverage to take care of your final expenses for your whole life, whole life insurance will be there.
Why are there so many companies to choose from?
The primary reason is to offer you the lowest quote possible, but also because of the underwriting guidelines for health conditions. Some companies have no weight chart so a person can be insured no matter how little or much they weigh. Some companies write diabetics with insullin and others won’t. Some companies write people that have had cancer after 2 years and others won’t for 5 years. We only write life insurance and know which companies will write a policy for you and which one’s won’t. If you have no major health conditions you can choose the company offering the lowest quote, but if you do have present or past health conditions we can fit you with the company that will write you for the lowest rate. For questions or a personal quote call 1-800-657-7178.
Life Insurance typesFinal Expense Life Insurance
No Medical Exam Life Insurance
Universal Life Insurance
Whole Life Insurance
Term Life Insurance with Living Benefits
Indexed Universal Life Insurance
Guaranteed Life Insurance
Second To Die Life Insurance
Mortgage Life Insurance
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