Did you know that there are numerous ways to get burial insurance with no waiting period? Assurance Life is a burial insurance broker who works with many different companies so our clients get the best burial insurance possible, usually with no waiting period. The first step to obtaining burial insurance with no waiting period is to start the application process.
Then Assurance Life takes your information and compares numerous companies to get you the best permanent life insurance for your age and health. Once approved, coverage begins immediately for those approved for preferred coverage. It’s that simple- 1-2-3 steps and most applicants start their Day One coverage burial insurance.
Step One- Applying for Burial Insurance with no Waiting Period
The application for burial insurance is quick and simple. There is a short list of yes or no health questions that are part of the FREE QUOTE process offered by Assurance Life. We can also help you determine the death benefit amount that suits your needs based on funeral or cremation costs in your state, debts you would like paid, and whether you would like to leave money to family members. All these factors help to calculate the right amount of whole life insurance you will need to cover your final expenses.
Step Two- Find the Burial Insurance Company That is Right for You
Once the short application is completed, we look for any red flags that would prevent DAY ONE coverage with no waiting period. Then, as a broker with access to multiple companies, we match your health profile to the company with the best funeral insurance rates and NO WAITING PERIOD. The difference between using an agent and a life insurance broker to find you the best final expense insurance is that an agent works for just one company, limiting the options for the most coverage at the lowest rates. Assurance Life is a broker which means we deal with numerous companies.
We are also experts in the field so we know exactly which companies offer no waiting periods for even some serious or long term health problems prior cancer diagnosis, heart disease, and even COPD. Even clients with those health conditions can be eligible for burial insurance with no waiting periods by going with a broker who can compare companies. Best of all, there is NO MEDICAL EXAM NEEDED! All approvals are based on the short yes or no questionnaire, not based on a medical exam.
Step Three – Coverage Begins- DAY ONE- NO WAITING PERIOD
Once Assurance Life matches you with the perfect burial insurance company for your needs, the final steps of setting up your burial insurance are handled. You will name your beneficiary or even more than one beneficiary if you prefer. This person will be the one who should know your wishes for funeral plans, paying debts, and leaving any leftover monies to family members. Once your beneficiary is chosen, you will decide how you would like to make your monthly payment.
Most funeral insurance companies offer a few choices for collecting the monthly payment. If you would like your coverage to begin as soon as possible, Assurance Life can set up the payment to begin as soon as your policy is booked with the insurance company. Otherwise, you can choose any time of month that is best for your budget and income. That is the final step! Once the first payment is collected, your coverage begins immediately- no waiting period!
What About the Red Flags?
As stated earlier, most applicants qualify for day one coverage for their burial insurance with no waiting period. However, there are some red flags on the health questions list that prevent a client from qualifying for immediate coverage. While many, many serious health concerns do not prevent day one coverage, there are some that simply don’t qualify. Some of examples these red flags are current treatment of cancer, being on dialysis, or having an Alzheimer’s diagnosis. If you have one of these conditions or another that prevents day one coverage, Assurance Life can still help with your burial insurance needs.
With access to so many companies, we are able to offer two other levels beyond the preferred immediate coverage plans. Those options are graded and guaranteed issue whole life insurance plans. The graded coverage means that the death benefit is phased in over a two year period. If the insured were to pass away during the first two years of having the plan, a percentage of the death benefit is paid rather than 100% of the benefit.
The amount goes up the longer the plan has been in place. After two years, the benefit of the burial insurance plan is paid out at 100%. With guaranteed issue, the plan works just like its name. The approval is guaranteed, regardless of health. However, there is a two year waiting period before any death benefit would be paid. If the insured dies within those two years, 100% of the monthly payments are refunded with interest. So the payments are not just lost if something does happen during the waiting period. With both the graded and guaranteed issue, if death is accidental during the first two years, the death benefits are paid out in full.
The good news is the vast majority of applicants qualify for immediate coverage but Assurance Life is proud to assist those whose health conditions require a different type of policy. Guaranteed issue life insurance policies are perfect fit for those with severe health conditions. If this includes you, its important to get a plan in place NOW so your two wait will be over before you know it.
Burial Insurance with no Waiting Period
Assurance Life can help you get a FREE QUOTE for burial insurance with no waiting period. It is an important step in protecting your family and giving them peace of mind at a time they need it most because your final expenses will be taken care of. Assurance Life has access to over 25 of the top burial insurance companies in the US. Some of these companies include Mutual of Omaha, AIG, Gerber and Royal Neighbors of America. Contact us at 800-517-0810 and one of our licensed specialist will assist you with a life insurance no waiting period plan.