Final Expense Insurance
What is Final Expense Insurance? Easy answer: Final Expense insurance, also known as burial insurance or pre need insurance, is a small whole life policy designed to take care of the insured’s burial costs once they pass away.
Final Expense Plans
As mentioned above they are small whole life policies. These plans were created by the insurance industry to address a very specific niche within the life insurance marketplace. Each carrier is different , but in general , here are some common guidelines in order to qualify for a Final Expense plan
- Age of issues is generally 50+.
- Maximum age of issue is generally 80 but some will go up to 85
- The maximum face amount is generally $50,000 on down
- Level benefit plan if you qualify. This means the full face amount will be in force once the policy is issued
- No Medical Exams
- Simple Yes and No answers to health questions.
Whole Life Plans – As Final Expense Plans
These whole life plans are designed to last the insured’s lifetime with a maximum payment age to 121. Obviously people don’t live to be 121 so calling it a Whole LIfe policy is a term that is used.
Final Expense Insurance Companies
There are several great companies that deal , specifically , with Final Expense Plans. Although some are household names , such as AARP Life Insurance, there are other AM Best A Rated companies such as :
Monumental Life Insurance
Royal Neighbors of America
Just to name a few!
Each carriers has its own unique product and guidelines. My job is to match your needs with the right carrier.
[stextbox id=”info”]If you work with someone that only offers a couple of plans you are not getting a clear picture of what is available out in the marketplace[/stextbox]
How do I get a Final Expense Insurance quote?
Thats the easy part. The best way is to call me. My number is 512-963-5000 or you can use our quote module and run a quote.
Before you run a quote, remember, these quotes do not “Interview” you so you may or may not qualify for a quote that you self generate. If you are in good health with only minor health impairments then you should be ok. Otherwise, call me.512-963-5000