LOSING A LOVED ONE HURTS
Guaranteed Issue Final Expense Insurance helps those you love
Secure Your Family’s Future
Losing a loved one is never easy and with the rising costs of funeral services, it can also bring financial strain to those left behind. Final expense insurance can help ease that cost and stress.
How does Final Expense Insurance
work?
How does Final Expense Insurance
work?
You choose coverage amounts from $5,000 to $50,000 and the policy's death benefit is paid directly to your named beneficiaries.
If death due to natural causes occurs in the first two policy years, the death proceeds will be the return of premium and interest on the premium paid as specified in the policy contract. After two years, the policy will pay the face value purchased.
Learn & Plan
Ready to understand Final Expense Insurance better? We’ve got information and resources to help.
Protect Your Family For Less
Losing a loved one is never easy. The added stress of making final arrangements during a time of mourning can be very difficult for anyone. On top of that, funerals can cost a lot more than you think, which can further add a significant financial burden to those left grieving. Making a plan now to cover these end-of-life costs and protect your family can give you significant peace of mind.
No
Medical Exams
Final expense policies usually don’t require medical exams like traditional underwritten life insurance policies. You simply have to answer a few questions and your coverage starts.
Peace
of Mind
Final expense insurance is designed to provide your loved ones with cash to cover expenses associated with your burial, funeral and medical expenses. Policies are generally small and the death benefit typically ranges from $5,000 to $50,000 and can be paid directly to the funeral home if you decide to make arrangements in advance, or can be paid to the beneficiary you name who will be handling your final arrangements.
Learn & Plan
Ready to understand insurance better? We’ve got information and resources to help.
Protect Your Family For Less
Losing a loved one is never easy. The added stress of making final arrangements during a time of mourning can be very difficult for anyone. On top of that, funerals can cost a lot more than you think, which can further add a significant financial burden to those left grieving. Making a plan now to cover these end-of-life costs and protect your family can give you significant peace of mind.
No Medical Exams
Final expense policies usually don’t require medical exams like traditional underwritten life insurance policies. You simply have to answer a few questions and your coverage starts.
Peace of Mind
Final expense insurance is designed to provide your loved ones with cash to cover expenses associated with your burial, funeral and medical expenses. Policies are generally small and the death benefit typically ranges from $5,000 to $50,000 and can be paid directly to the funeral home if you decide to make arrangements in advance, or can be paid to the beneficiary you name who will be handling your final arrangements.
FINAL EXPENSE INSURANCE TERMS
Thank you for your interest in Final Expense Life Insurance. The information below may help you understand some of the more commonly used terms for final expense life insurance.
APPLICATION
A statement of information made by a person applying for life insurance. It helps the life insurance company assess the acceptability of risk. Statement made in the application are used to decide on an applicant's underwriting classification and premium rates.
CASH VALUE/CASH SURRENDER VALUE
The amount available in cash upon voluntary termination of a policy by its owner before it becomes payable by death or maturity. The amount is the cash value stated in the policy minus a surrender charge and any outstanding loans and any interest thereon.
BENEFICIARY
The person named in the policy to receive the insurance proceeds at the death of the insured. Anyone can be named as a beneficiary.
DEATH BENEFIT
The amount of money paid to the beneficiary when the policyholder dies. If loans are taken on these benefits, the payable amount will decrease. The amount of the benefit might also increase if there are more benefits payable when certain conditions are met.
FACE AMOUNT
The amount stated on the face of the policy that will be paid in case of death or at the maturity of the policy. It does not include additional amounts payable under accidental death or other special provisions or acquired through the application of policy dividends.
FINAL EXPENSES
Final expenses are the end-of-life costs an individual incurs shortly before and shortly after they die. That could include final medical bills and funeral costs. Some life insurance policies can be used to cover final expenses for the people the now-deceased individual leaves behind.
GRACE PERIOD
The period of time a policy remains valid even after a premium payment is due and goes unpaid. It’s usually a month so don’t wait too long to make things right.
INSURED
The person who is insured by a life insurance policy. When his or her death occurs, a payment will be made to the insured person's named beneficiary.
LAPSE
The closure of an insurance policy because of failure to pay the premiums within the defined grace period. The option to reinstate the coverage with similar premiums and benefits exists, but the policy holder will have to re-qualify for the coverage, as well as pay the unpaid premiums. Sometimes premiums go up after a lapse.
MEDICAL EXAM
It’s a tool life insurance companies use to determine the estimated risk level of an individual before insuring them although most final expense insurance is simplified issue coverage, which means there is no need to sit for a medical exam.
OWNER
The individual who purchased the life insurance policy. He or she is usually the same person as the insured but in certain cases, the owner could be a different individual who has been authorized to be the owner, such as a spouse, a child, a parent, a business partner with an insurable interest or a corporation.
POLICY
The printed legal document stating the terms of insurance contract that is issued to the policyowner by the company.
POLICYHOLDER
The person who owns a life insurance policy. This is usually the insured person, but it may also be a relative of the insured, a partnership or a corporation.
PREMIUM
The payment, or one of the periodic payments, a policyowner agrees to make for an insurance policy. Depending on the terms of the policy, the premium may be paid in one payment or a series of regular payments, e.g., annually, semi-annually, quarterly, or monthly. The premium charged reflects the expectation of loss, expenses, and profit contingencies.
RIDER
An endorsement to an insurance policy that modifies clauses and provisions of the policy, including or excluding coverage.
UNDERWRITTING
The process by which a life insurance company determines whether it can accept an application for life insurance, and if so, on what basis so that the proper premium is charged.
Address : 411 Buchloe Drive Marysville, OH 43040
Address : 411 Buchloe Drive Marysville, OH 43040
Call : (614) 796-4030
Call : (614) 796-4030
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