Final Expense Life Insurance
For assistance call (800) 882-5009
Life Insurance Even If Your Health Maybe Isn't Perfect
Final Expense Life Insurance is generally meant to provide cash for funeral expenses and perhaps pay off some bills or credit cards. The face amount is most often between $10,000 and $25,000, although it can be higher or lower depending on your situation. Final Expense Insurance does not require any medical exam.
If you are age 50 on up and do not have enough life insurance, please read on.
Final Expense Life comes in four varieties. One of the four is available to nearly everyone regardless of your health. Read on to find the one for you.
If you are reasonably healthy you will probably qualify for a level death benefit policy. If you buy $15,000, then you are insured for the full amount of $15,000 from day one. Most people do qualify for a level death benefit policy.
Suppose you aren’t quite as healthy. Graded Death Benefit Life Insurance pays a percentage of the face amount as the death benefit in the first two years. The amount varies from company to company but generally is around 30% of the face amount in year one, 70% in year two, and 100% thereafter. The death benefit for accidental death is 100% immediately.
Examples of conditions that may be acceptable for a Graded Death Benefit Final Expense policy are:
- Chronic hepatitis
- Cirrhosis of the liver
- Early stage Parkinson’s disease
- Stroke more than two years ago
- Heart attack or heart surgery more than two years ago
- Cancer two or three years ago
More serious health conditions may be acceptable for a Modified Death Benefit Final Expense policy. In the first two or three years, modified death benefit policies pay a death benefit of a return of premiums paid plus interest. The interest rate depends on the company but may be in the neighborhood of 10% or 12%. Again, the accidental death benefit is 100% from the first day.
Examples of conditions that may be acceptable for a modified death benefit policy are:
- Aneurysm that has not been removed
- Cardiomyopathy in the last two years
- Diabetic coma in the last two years
- Drug or alcohol addiction in the last two years
- Heart attack or heart surgery in the last two years
If you cannot qualify for any of the above you still can get guaranteed issue life insurance. There are no health questions and you will not be turned down.
Policy details do vary depending on the company you choose. Get the specifics before you purchase your life insurance.
Buyers of final expense life insurance typically are age 50 to 85. They purchase final expense life to pay funeral costs and perhaps to leave additional money for a spouse or children.
Find your category and give us a call or request detailed information. We will respond quickly with your quote and product details.
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No Medical Exam
Anderson & Associates
222 S 5th
P.O. Box 353
Seward NE 68434
Phone: (402) 643-6140
Toll Free: (800) 882-5009
Fax: (888) 770-3098
Nebraska Agent License #2896601
Missouri Agent License #8371661