Final Expense Life Insurance for Insurance
Final expense life insurance is popular with seniors because of its affordable price, smaller benefit amounts, and emphasis on covering funeral costs.
Traditional life insurance policies such as term insurance are primarily intended to replace any income lost when a loved one dies. These policies are most important to families during the earlier years when we are working, paying a mortgage, making car payments, and raising our kids.
Once we have retired, paid off the mortgage, and the kids are out of the house, traditional life insurance policies are not needed as much. What we do need is a way to pay for any expenses we leave behind when we pass.
Burial insurance for seniors is a smart and compassionate insurance solution for seniors looking to protect their loved ones from rising funeral costs. It is typically easy to qualify.
There are two types of Final Expense Insurance:
GUARANTEED ACCEPTANCE LIFE INSURANCE
Guaranteed Acceptance Life Insurance provides permanent protection with no medical exam for up to $25,000 in coverage, guaranteed.
- If you get sick with a qualifying chronic condition illness and need to access a portion of your policy benefits early, our Chronic Illness rider is included with your policy at no additional charge.
- If you become terminally ill and require access to your policy benefits, you are eligible to receive 50% of your death benefit thanks to the accelerated death benefit Terminal Illness Rider included in your policy.
- Each rider’s benefit can be used to help pay medical expenses, supplement income or for any purpose. Remaining policy values will be paid to your beneficiaries at death.
- Required premium payments stop at or before age 90.
Graded Death Benefit
- Rest assured, that if death occurs by accident, at any time, the full death benefit will be paid.
- If death occurs during the first two years and is not an accidental death, the benefit paid will be 110% of premiums paid to date.
- In the event of death after two years, the graded death benefit no longer applies, and the full death benefit is paid.
SIMPLIED ISSUE LIFE INSURANCE
Simplified Issue Life Insurance provides permanent protection from $5000 up to $35,000 in coverage with no medical exam and just five questions regarding your health. Based on those answers and the results of our instant underwriting system, you will be offered one of two premium payment and death benefit options:
- Level: 100% of the death benefit will be payable on the first day, as long as the policy is active.
- Graded: For the first two policy years the death benefit will be equal to 110% of premium paid. After two years, the death benefit is equal to the full amount you applied for.
If you do not qualify for the Level death benefit or the Graded death benefit, you will qualify for our Guaranteed Acceptance Life Insurance.
Two Accelerated Benefits - The level death benefit includes two ways for you to receive an accelerated payment of your death benefit:
- Nursing Home Confinement Rider, which accelerates your death benefit if you are confined to a nursing home.
- Terminal Illness Rider, which accelerates your death benefit if you are diagnosed with a terminal illness.
The accelerated benefits above are included with the Level benefit only.
Limited-Pay Feature
The policy offers a Limited-Pay feature which is built into the policy and here is how it works:
When you reach what is known as your Maximum Payment Age, you will not have any additional premiums and your coverage will remain in-force until age 100.
Take a few minutes now to give your family peace of mind!
The application is short and the process is quick and painless.
The policy can be easily tailored to your personal needs and budget.
And protection for your loved ones is guaranteed.