Get FREE QUOTES from trusted senior life insurance companies that give LOCKED-IN Guaranteed Rates, 1st day coverage, and policies that last your entire lifetime:

FINAL EXPENSE 101 FACTS:


Seniors receive many mail solicitations from insurance companies and "Associations for Retired Persons" about life insurance policies to be used for "final expenses" or funerals and other debts. Many people sign up for these policies through the mail and we often find they haven't read the fine print.

Some "final expense" policies are MUCH better than others.

We advise senior to NOT sign up for any life insurance through the mail or a telemarketer unless you have met with a local agent who has shopped rates for you with at least 10-companies. Very few people should be buying "guaranteed issue" insurance because MOST of them will get a much better price and coverage with a "simplified issue" policy, and your local agent is the best place to shop it.

Here are some things to watch out for with "final expense" life insurance:

  • Does the coverage last your entire lifetime or does it end at age 80? Many policies are sold where the coverage ends on your 80th birthday...is that really what you want?

  • Is there a chance of unscheduled price increases? Be aware of fine print that says " You cannot be singled out for a rate increase. We can only raise your premiums if we raise them for everyone in your age class." THIS IS NOT A GOOD PRICE GUARANTEE! I would only buy a policy that says "Your rates can NEVER be increased for ANY reason.

  • Are there scheduled rate increases? Some policies are designed to have rate increases each time you enter a new 5-year age band. I don't recommend those policies, but if you are considering one, make sure you can afford what the premium is at age 76-80 or older, NOT just what it is when you sign up. Failure to do so MAY cause you to drop it later after you have paid a lot of money in.

  • Does your policy have a two-year waiting period before you have coverage? If you're even reasonably healthy, you can get a policy with immediate coverage. Only people with serious health conditions should accept a policy that won't cover health-related deaths during the first two years.

So how do you find a better final expense policy?

Call a local agent who specializes in these types of plans and can meet with you face-to-face. He/she will ask basic health questions such as current medicines you take, height, weight, tobacco use, and current health conditions. Then they can match you with the company that will make you the best insurance offer.

MOST people will qualify for coverage with no waiting periods, no rate increases, and lifetime coverage and usually at better rates than the junk mail offers you get daily.

At Senior Benefit Services, we SPECIALIZE with senior life insurance. We've sold thousands of Final Expense Life Insurance policies and have beaten the rates and terms of the mail-order insurance companies over and over. We support our clients not only when they buy the coverage but also at the time of a death claim or if they need policy service in the future.

Mrs. Pearson's story
Mrs. Pearson was worried that her kids would be left with large bills and funeral expenses when she died. She knew she needed to buy some life insurance coverage. She was a member of an association for retired people, and they were always sending offers about life insurance. She trusted the association, so she didn't read the fine print too well.

She paid on the policy a couple of years before she realized her premium was scheduled for an increase. After she began to read the details of her policy, she realized that her premium would go up every 5-years and would increase over 500% from the time she bought it until she was age 75.

If Mrs. Pearson lived one day past her 80th birthday her insurance policy would end and she would NOT receive a refund of any of the money she had paid. This is not at all what Mrs. Pearson wanted but it was all disclosed in the policy she bought... so it was legal.

Mrs. Pearson called our office and within 2-days was covered at a low price with a policy that guarantees she will never have a rate increase and the coverage will never end. That's what she was looking for the whole time.

This is a true story, and Mrs. Pearson is her real name. And there are a LOT of other Mrs. Pearsons.
At Senior Benefit Services, we are experienced at matching you with the best value in life insurance.

Call us FIRST before signing up for ANY life insurance policy through the mail or from an unfamiliar agent. You deserve better!


Call Us Today
(270) 883-0361