WHAT EXACTLY IS A BURIAL INSURANCE POLICY / FINAL EXPENSE INSURANCE POLICY?
Burial Insurance and Final Expense Insurance are phrases used to describe a Permanent Life Insurance Policy that usually starts around $5,000 and can go up to $50,000 for ages 50 – 89. Any money left over after paying the funeral cost and other final expenses will be a gift for your loved ones.
FINAL EXPENSE INSURANCE AND BURIAL INSURANCE POLICY CHARACTERISTICS:
* You Do Not Need To Take A Physical Exam To Apply
* Your Monthly Premiums Are Guaranteed Never to Go Up
* Your Death Benefit Is Guaranteed Never To Decrease – It Is A Level Benefit
* The Insurance Company Can’t Cancel Your Policy Due to Your Age Or Health
* Your Death Benefit Is Paid Out Tax-Free Directly To The Beneficiary Of Your Choice
Burial Insurance is also referred to as Simplified Life Insurance because the underwriting is simple which makes it easier for seniors to get approved for coverage. This helps seniors with most health conditions still be able to qualify for coverage giving them peace of mind knowing that there won’t be any expenses left to their family. In fact, here are a few examples of health conditions that you can get approved for burial insurance / final expense policies:
Diabetes
COPD
Emphysema
Heart Attacks
Strokes
Cancer
Anxiety
Depression
Epilepsy
Atrial Fibrillation
Obesity
Plus many more…
Even though you maybe able to qualify for coverage while having health conditions, there can be a wide range of the monthly premiums depending on each insurance company. Insurance companies have their own rules that will affect your eligibility and your rates.
There are also policies for people who have too many serious health conditions and do not qualify for an immediate coverage final expense insurance policy – these policies are called Guaranteed Issue Policies. The Guaranteed Issue Policies do not have any health questions or medical underwriting at all – they are guaranteed to be approved. This type of policy can be a blessing for those who have serious health issues, but it does have a two year waiting period before coverage begins.
We understand guaranteed issue policies are necessary for certain serious health conditions, but most of the time we are able to find our clients immediate final expense insurance coverage. We have even helped clients who came to us with a guaranteed issued policy qualify for immediate day one coverage.
Since we are specialist in burial insurance / final expense / funeral insurance policies, we are able to help you find the best company for you usually with immediate coverage while saving you money. That is our mission, and it’s truly a joy to be able to help others in this way.
WHY WOULD YOU WANT TO BUY A BURIAL INSURANCE POLICY / FINAL EXPENSE INSURANCE POLICY?
There are many reasons people buy burial type insurance policies, but the main reason is they care about their family and don’t want to leave a burden of funeral cost and other final expenses. Or you may want to leave extra money as a gift to children, grandchildren, to a church or charity. Or if you have a mortgage payment, you want to make sure there is money to pay the mortgage until the house can be sold (usually 6 months to a year). Whatever your reason is, we are here to help you find the best policy for your specific situation.
WE MAKE APPLYING FOR A BURIAL INSURANCE / FINAL EXPENSE POLICY SIMPLE FOR EVERYONE
WE CAN HELP YOU WITH YOUR APPLICATION WITHOUT HAVING TO COME INTO YOUR HOME
Your personal licensed agent will help you fill out the application and submit it to the insurance company for you. If you prefer to sign by email, you will receive an email from the insurance company where you can sign the application by clicking a few places (we will walk you through this). By submitting the application this way, we will usually get a decision on your application immediately from the insurance company.
If you do not have an email, we will send you the application in the mail to sign and then you mail it back to us. Your personal agent will double check and make sure everything is filled out correctly, then submit it to the insurance company for you. By submitting the application this way, we will usually get a decision from the insurance company in a few days.
We can also help you apply over the phone and your voice will be your signature. Using this method of applying for coverage, there isn’t any paperwork involved at all. Everything is done over the phone during a 3-way call with you, your licensed agent, and the insurance company. We set this up for you and the insurance company will ask you the application questions over the phone. This way will also give us an immediate decision from the insurance company regarding your application.
The good news is that it doesn’t cost you anything to have your own licensed agent help you from our office. All of this is done for you without an insurance agent ever having to come into your home. We help you choose wisely without any hassle and are here for you for life.
