First, determine if you are better off with regular life policy - Go over the disadvantages of final expense. Review our buying guide showing the differences between term, whole life, and funeral coverage. The more medical questions you answer and tests you take, the more coverage you can buy. However, most term policies have a minimum policy amount of $50,000 to $100,000. You may not be interested in buying that large an amount, or want your plan to expire. You also want to compare different types of final expense plans.
When buying a life insurance policy, you want to know:
The maximum amount you can buy - This will depend on your health. Burial plans offer between $5000 - $50,000 in coverage (term and whole life can go up to 1,000,000).If you qualify - Anyone not dead can buy life insurance. Go here to choose a type of life insurance coverage.
The cost There are many ways to lower the cost of a burial.
How fast you can get easy issue coverage? - Many policies can go into effect the day of the postmark on the application. Burial policies are usually low benefit, so there is low risk on the part of the company.
If there is a medical exam - That will vary according to the amount you apply for and if you think you can pass one. If you are in bad health, there is no point in you getting refused coverage, so you should apply for a guaranteed issue type policy.
If pre existing conditions are covered - Once you are approved, full coverage in is effect. There is a two year exclusion on suicide or fraud on all life insurance.
If the premiums can increase - Most premiums are set, but some companies can increase their premiums if they do so for everyone, while others have a set increasing amount, or will increase it based on inflation.
Contact Us - Resources - Sitemap