Final Expense Life Insurance Made Easy
If you are looking for an affordable final expense life insurance policy, you have found the right place. Assurance Life works with over 25 of the best final expense insurance companies in the US. We shop ALL of our life insurance companies on your behalf, to find you the best rates. Since we help seniors nationwide EVERYDAY, we’ve got you covered. Call us now at 800-517-0810.
What is Final Expense Insurance?
Final Expense insurance is a whole life insurance policy intended to pay for the policy holder’s final expenses upon death. Sometimes final expense insurance is called funeral insurance, burial insurance, final expense life insurance, permanent life insurance and whole life insurance. A whole life insurance policy is just what it sounds like- coverage for your WHOLE life, as long as premiums are paid. This is different from term life insurance which has a predetermined expiration date.
Benefits of Final Expense Insurance:
- Pays final expenses in your family’s time of need
- Peace of mind for you and your family
- Monthly payments WILL NEVER increase
- No medical exam required
- Policy can’t be cancelled due to age or health
Types of Final Expense Insurance Plans
There are different levels of coverage available for final expense insurance plans. The level of coverage is primarily based on age and health. Assurance Life will provide a short yes or no health questionnaire and based on the responses, the level of coverage is determined.
The highest level of coverage is for those in relatively decent health. Preferred/Level coverage starts immediately with no waiting period and the rates will be the LOWEST for this level. Preferred/Level coverage is the best final expense insurance you can qualify for. (90 percent of all of our clients qualify for preferred coverage.)
Next would be a plan that phases in the death benefit over a two year period. Graded benefit whole life insurance – for instance, if death occurred in year one, some insurance companies would pay out a certain percentage such as 30% of the death benefit. Then in year two, a higher percentage such as 70% is paid. Finally, after two years, the full death benefit is paid. This is great option for those with some recent health issues.
For clients with more significant health issues we offer guaranteed issue life insurance plans. This is a type of plan where the client is guaranteed approval regardless of any current or prior health conditions. Also known as final expense insurance with no health questions.
Amounts of Coverage Available
Once the level of coverage is determined, it is important to choose the amount of coverage you need. There is a wide range of death benefits available ranging from $5000-100,000 to be paid out to your beneficiary upon death. You will want to consider funeral cost in your area, any debts to be paid out of the policy, and finally, if you would like additional money to remain for family members or friends.
The most common final expense life insurance policy amount is $10,000 because the average funeral cost is around $9,000. However, Assurance Life can help you determine the amount of coverage that is best for your individual situation. A few questions to ask yourself when determining how much Insurance do you need:
- Family Income – How much is available?
- How will your family pay for your final expenses?
- Anyone else depend on you financially?
- Would you like to leave some money behind for children?
- Any other family members who you would like to leave money for?
- Estate taxes?
Age Limits on Final Expense Insurance Policies
Final Expense Insurance can be a perfect policy to secure when you are young because the rates are low and your premiums remain fixed for your lifetime. Assurance Life has companies who specialize in children’s policies all the way up to seniors as old as age 89. So whether you are considering a whole life plan for children or grandchildren, or final expense insurance for seniors in their twilight years, we have plans for ages birth-89 years old.
How Do Burial Insurance Policies Work?
Thankfully, burial insurance plans are one of the simplest whole life insurance policies to apply for. The application process is quick and easy. ALL the questions asked, are simple Yes and No questions so it is not complicated to start your coverage.
Best of all, there are NO MEDICAL EXAMS required. Once the application is completed, Assurance Life gets quotes from several top final expense insurance companies so that we are able to find the most coverage at the lowest premiums for you. Finding you the best funeral insurance for seniors policy is our goal. You can check out our Buying Burial Insurance Guide for more information.
Who Needs a Final Expense Life Insurance Plan?
Final expense insurance is for any person who isn’t financially prepared to pay the high expenses associated with funeral and final expense costs. When you have final expense life insurance, you can rest assured knowing that despite any change in personal financial circumstances, your funeral insurance policy would be in place to give your family peace of mind.
So many factors affect our personal financial situations- our growing senior population, people living much longer, having to stretch retirement savings over many years, cost of expensive health conditions that can drain savings, caring for our own children’s families, and much more.
In light of so many variables, everyone needs final expense insurance. Having a final expense insurance means that you know 100% that your funeral & final expenses will be paid and your last wishes can be carried out in the way you would like. This means your family can focus on remembering the good memories rather than worrying about how things will be paid for.
How to Get a Final Expense Insurance Policy?
A lot of people think getting any kind of life insurance policy is a complicated, long process, requiring home visits, and medical exams. That could not be farther from the truth.
First a client fills out an online life insurance quote and then one of our insurance specialists compares numerous companies to find the perfect fit for you. Once the process is started, thanks to new technology, your final expense life insurance plan can be handled entirely by phone and online. Once the simple Yes or No application is complete, approval can be instant or within 24 hours.
An agent does not have to come to your home. Everything can be completed through this simple phone call. There are many payment options to fit the needs of each family. Assurance Life will make sure the details fit your needs. After approval, you will confirm the policy online and coverage will begin according to the terms of the policy. Final expense insurance for seniors is Simple, Easy, and No Hassle….. We even have burial insurance with no health question plans.
Is Everyone Approved?
YES! Every person is approved for some kind of final expense insurance policy. Assurance Life has many companies so we can find the one for your unique situation based on your age and health. We even have plans that don’t ask any heath questions and your acceptance is GUARANTEED.
What is Guaranteed Issue Life Insurance?
Guaranteed Issue Life Insurance is a whole life insurance policy that doesn’t require any underwriting and everyone who applies is approved. Yes, you can’t be turned down. In fact, you don’t even have to answer any health questions during the application process. Guaranteed Issue Life Insurance plans are perfect for those with severe health conditions and for those you can’t get approved for other traditional life insurance policies.
Since there isn’t any underwriting when applying for guaranteed life insurance, the application process takes less than 10 minutes. Guaranteed acceptance life insurance plans are a great fit for those with serious health conditions. Other names for Guaranteed Issue life insurance are guaranteed life insurance, guaranteed acceptance life insurance, guaranteed whole life insurance, guaranteed issue burial insurance and guaranteed issue final expense insurance.
The most popular guaranteed issue life insurance carriers are AIG and Gerber. If you are looking for life insurance guaranteed issue – Assurance Life has you covered.
Why Use an Independent Life Insurance Broker?
It’s SIMPLE. Using an independent life insurance broker saves you time and money. Assurance Life ALWAYS recommends getting several quotes from several final expense insurance companies before you buy your policy. You could call the 25-50 different insurance companies yourself or allow an independent life insurance broker like Assurance Life do all the work for you.
Plus, allowing a life insurance broker to shop your health conditions against several different companies will ensure you get the RIGHT policy that matches your EXACT health conditions. Matching your health conditions with the correct company will save you a ton of money over time. Let us find you the best final expense insurance plan.
Health Conditions We Help Insure
Assurance Life has final expense life insurance policies for everyone, regardless of health. You may be used to hitting roadblocks due to your particular health condition. Rest assured that we can help you regardless of your health conditions.
Here are just some of the common health conditions that won’t prevent you from getting burial insurance for your family:
Diabetes, Nephropathy, Diabetic Coma, Hepatitis B or C, Cirrhosis, COPD, Kidney Disease, Kidney Dialysis, Cancer, Leukemia, Melanoma, Chronic Kidney Disease, Systemic Lupus, Bipolar, Depression, Schizophrenia, Parkinson’s Disease, Multiple Sclerosis, Heart Attacks, Strokes, Stents, Angina, TIA, Congestive Heart Failure, Aneurysm, Alzheimer’s Disease, Seizures, Drug or Alcohol Abuse, Height/Weight Obesity, Oxygen Use, Cardiomyopathy, Dementia, Amputation due to disease, Huntington’s Disease, Cystic Fibrosis, Angina, Pacemaker, Wheelchair or Walker Use
Some of the Life Insurance Companies We Use
- Mutual of Omaha
- Royal Neighbors of America
- Liberty Bankers Life
- AIG GIWL
- Transamerica Life Insurance
- Sentinel Security Life
- Prosperity Life Group
- Gerber Life Insurance
Things you need to know about the “Other” companies:
Other Types of Life Insurance We Offer:
- Whole Life Insurance
- Burial Insurance
- Funeral Insurance
- Guaranteed Issue Life Insurance
- Cremation Insurance
Term Insurance vs. Whole Life Insurance
Is term insurance better than whole life insurance? This is a question we get asked often. It’s a tough question to answer most of the time because it really depends on your season of life. Surprisingly a combination of both could be the most beneficial. Assurance Life is able to help you examine your insurance needs and determine the best path. If your primary purpose for life insurance is to pay funeral costs, remaining debts, and leave a small amount of money to family members, then a whole life final expense insurance policy is the perfect plan for you.
Plus, this is a perfect plan for adult children who are looking for burial insurance for parents. Just remember: term insurance is known as temporary life insurance and burial insurance is permanent life insurance since it never expires.
Why Assurance Life?
Assurance Life is a independent life insurance broker meaning we work with many different insurance companies, not just one life insurance company. This means, Assurance Life works for YOU, the client, rather than working for the insurance company. This is very important to understand. It pays to have options. Working with an independent life insurance broker gives you options.
With access to top rated life insurance companies, we always find the most coverage at the lowest rates regardless of medical conditions, age or budget. Finding you the best final expense insurance quotes won’t be a problem. Regardless of what you decide, make sure you find an expert who is licensed, knowledgeable, and ethical.
The burial insurance companies we work with include Mutual of Omaha, AIG Final Expense, Royal Neighbors of American, Liberty Bankers Life and Sentinel Security Life just to name a few. Our companies have served their customers’ final expense needs for over 50 years.
With Assurance Life, you can rest assured and have peace of mind that your final expenses will be taken care of. Call us at 800-517-0810 so we can help you find the best final expense life insurance policy or click GET FREE QUOTES below.