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Final Expense - Simplified Issue whole Life - No Physical, No Medical Exam Life Insurance in most cases.
Imagine if we were immortals! The thought of final expense would have been nothing but creative imagination. Painters would have filled canvasses portraying death in its sundry forms. A movie with death as its theme would have been considered pure science fiction. Unless the laws of nature change on planet earth or our scientists come up with some idea and death becomes obsolete, planning for a burial is something that every human has to think of at one point in time.
We all know how powerfully engrossing living is. Ceasing to live sounds like negative thinking to most of us. And so we keep procrastinating our preparations for the future.
"Final expenses can include not only the cost of the funeral, but also the unanticipated charges such as medical costs not covered by your health insurance, federal and state taxes and/or other bills."[Standard Life and Accident Insurance Company, FORM PB-L499]
With Social Security offering a death benefit of only $255 to the surviving spouse or dependant children, without a final expense policy in force, you will actually leave your loved ones no other option but to beg, borrow or steal to give you a decent burial.
Final Expense/Burial insurance is inherently a whole life insurance policy.
 The difference?
The similarities?
The benefits?
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Premiums remain level
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Policies for most age groups do not require a medical exam
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Most policies are available from as little as $1,000 to as much as $75,000
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Accelerated death benefits (In the event of terminal illness diagnosis, final expense insurance plans typically allow the policy holder to collect up to 50% of the death benefit early)
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Income Tax-free death benefit
Following is an example of monthly EFT rates for given ages at $15,000:
NTU : NON-TOBACCO USER; TU : TOBACCO USER
| AGE |
MALE NTU |
FEMALE NTU |
MALE TU |
FEMALE TU |
| 20 |
$ 27.08 |
$ 25.08 |
$ 29.55 |
$ 27.29 |
| 25 |
$ 29.01 |
$ 26.98 |
$ 32.14 |
$ 29.45 |
| 30 |
$ 31.12 |
$ 28.43 |
$ 35.19 |
$ 31.96 |
| 35 |
$ 33.54 |
$ 30.07 |
$ 39.09 |
$ 35.05 |
| 40 |
$ 36.52 |
$ 32.69 |
$ 44.36 |
$ 39.00 |
| 45 |
$ 40.17 |
$ 35.86 |
$ 51.15 |
$ 43.79 |
| 50 |
$ 45.00 |
$ 39.29 |
$ 59.74 |
$ 49.69 |
| 55 |
$ 51.22 |
$ 43.97 |
$ 70.63 |
$ 56.92 |
| 60 |
$ 59.91 |
$ 51.65 |
$ 84.58 |
$ 66.40 |
| 65 |
$ 74.71 |
$ 62.63 |
$ 102.63 |
$ 80.48 |
| 70 |
$ 101.45 |
$ 78.16 |
$ 146.59 |
$ 102.43 |
| 75 |
$ 143.65 |
$ 106.86 |
$ 210.44 |
$ 136.94 |
| 80 |
$ 207.85 |
$ 159.05 |
$ 295.48 |
$ 189.96 |
| 85 |
$ 314.15 |
$ 236.95 |
$ 418.19 |
$ 267.16 |
Underwritten by Standard Life and Accidental Insurance Company of Texas, rated A+(Strong) by Standard & Poor, third highest of their eight rating categories; A(Excellent) by A.M.Best, third highest of sixteen ratings. Website : www.slaico.com. Rates are current as of March 14, 2003. Issue ages : 18-85.
The above table is just an example of what is out there. There are a number of top-rated companies that offer Whole Life policies to cover final expenses and more. What kind of product will suit your specific needs or what kind of product you are eligible for is usually based upon your age, health and other relevant factors which an insurance company may find necessary to look into before giving you an offer.
For more information and free consultation, please contact us at your convenience or if you would like us contact you with a quote, please fill out our life insurance quote form.
If you are one of those who do not like to go through a medial examination and do not mind paying a little extra for having that benefit, we have an excellent product. Please click on the following link to get an instant quote and coverage:
Simplified or Graded Whole Life insurance. Apply and pay online.
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