Final Expense FAQ's

Final Expense FAQ’s and Burial Insurance FAQ’s

People who inquire about Final Expense overwhelmingly ask one question right off the bat: “What is BY FAR the #1 question?”. The cost is a function of age, health, lifestyle, tobacco use and other factors (including how much coverage you want/need). The best we do is say rates will range from ~ $9 per month (this would be a healthy non-smoking 50 year old female) up to $600 (this would be an 85 year old male smoker applying for $40,000 of coverage). Agree, 99.999% of sane people would never pay $600 per month for $40,000 of coverage. But there are policies and programs available for anyone and everyone between those two extremes. An average monthly payment is typically between $40-50 per month for $10,000 coverage (less if you are in your 50’s and more if you are in your 70’s or 80’s).

While we can certainly provide an immediate and fast real-time quote, underwriters are still mandated to inquire about health, lifestyle, and tobacco usage. Whether from a system, website or person, I GUARANTEE THAT YOU HAVE BETTER OPTIONS. These systems and web pages aim to streamline the process, ensuring that you can easily and conveniently fulfill your need for an instant quote. These systems are quoting ONE CARRIER/ONE POLICY or are providing information from inaccurate (outdated) quote data. But there are policies and programs available for anyone and everyone between those two extremes. The only way to truly compare carriers is to do it yourself or work directly with an independent broker (like us). If you are working with an independent broker. He/she will require 15-30 minutes to get quotes from multiple carriers to find the best option to meet your needs.

“I thought this was free”, we hear this frequently. Indeed, state regulations actively govern these policies. What the means is that the price/rate I give you will be the same price/rate the next person gives you. Discounting life insurance is illegal under no circumstances! Securing proper life insurance coverage is a vital step in safeguarding your family’s financial future. Be aware that attempting to obtain discounted life insurance is not only unethical but can have serious legal consequences. Ensure you work with reputable and licensed insurance providers to get the coverage you need without compromising integrity or legality.

, which is the oldest trick in the book for the snake oil agents. The “Bad Actors” in the insurance industry will use this tactic to collect your information. But there are policies and programs available for anyone and everyone between those two extremes. Show up at your door and bait-n-switch you from believing. State-sponsored benefits sometimes force individuals into purchasing costly and undesired insurance policies.

We ALL love us some Alex Trebek, the face of Colonial Penn. Colonial Penn is the ONLY carrier that will promise you a plan customized to you for $9.95 per month. If ALL you want to or can afford to spend is exactly $9.95 per month. Colonial Penn is the ONLY choice for you and we would refer you directly to Colonial Penn. That said. If your goal is to find the most coverage for the lowest payment and have more than $9.95 in your budget.

There are other that provide much more coverage for your dollar. We take GREAT PRIDE and spend a lot of time knowing the industry. Learning all the carriers and learning all the policies. But there are policies and programs available for anyone and everyone between those two extremes. We selectively choose are carriers so that we have the absolute best options for most ages and health classes. Indeed, there are cases where our carriers will not be the best value/fit for you but our underwriters. Brokers will consistently provide open and honest communication with you regarding your optimal choices.

Final Expense FAQ’s. Life insurance is a CRITICAL DECISION. Underwriters and brokers undergo rigorous training to comprehend the intricacies of industry carriers, policies, all while balancing these details with YOUR specific needs. If they can’t find a good fit. It does more harm to everybody to push a policy that does not fit. Example (real example), in a case where a 70 year old non-smoking male inquired about insurance and insisted on $10,000 worth of coverage at the absolute lowest rate. Oxford (or Christian Fidelity if available in your state) offers the absolute lowest rate for this policy. However, bear in mind that an agent might choose not to reveal this information if they lack the proper license or contract to sell for that particular company.

LITTLE KNOWN FACT – Independent underwriters and brokers work for YOU, not for any one individual company or carrier. But there are policies and programs available for anyone and everyone between those two extremes. Independents will (or should) find the best carrier and policy for you. BEHIND THE SCENES – Independents only earn a living if you KEEP your policy. If you cancel the policy or stop paying the agent does not earn a living. The #1 reason people don’t keep their policy is that it’s too expensive -> WE ALWAYS MAKE SURE WE WORK IN YOUR BUDGET!

Final Expense FAQ’s. This is a very important question and kind of a complex answer. #1) Historically the industry requires the underwriter to submit your application in person. Times have changed, and now, many carriers (though not all) enable you to handle this over the phone. Old school insurance pros are still training new agents on old school ways. #2) The lifeblood (and raw material) for an agent is “leads”. Agents will by leads from marketing companies and many of these leads inquire because of bait-n-switch tactics. The BEST way for that agent to sell you the bait-n-switch is in person. He/she possesses advanced training and exceptional skills in transitioning seamlessly, and will strongly advocate for arranging an in-person meeting. But there are policies and programs available for anyone and everyone between those two extremes.

Most carriers have a reputation for paying out in 7-14 days from when claim is submitted. These agents tend to be very pushy. #3) Some underwriters and independents have “sweetheart” deals with one carrier, carriers will provide exclusive bonuses to push their product. This does YOU no good, that agent is compromising your best interest for a bonus to sell you specifically one policy from one carrier. RECOMMENDATION – If you meet with an independent agent, INSIST on seeing at least two quotes from different carriers.

VERY IMPORTANT, as mentioned above the insurance industry requires all carriers to subscribe to a federally regulated exchange so that consumers can transfer a policy from one carrier to another. This regulation is VERY VERY important to our industry and important to you. Have you ever had buyer’s remorse for anything? Buyer’s remorse in insurance is extremely prevalent, many people are left wondering and uncertain if they indeed found the right policy for them. The exchange gives consumers options for buyer’s remorse or even if someone is interested in making sure they always have the best policy to meet their needs.

Buying life insurance is a lot different than buying a car, do you agree?

Assuming agreement, it’s vital to remember that these policies operate under state regulations. This means that whatever rate one person provides you, the next person must offer you the exact same quote. State regulations ensure consistency in pricing across different providers, so you can expect uniformity in the quotes you receive from various sources. Most carriers have a reputation for paying out in 7-14 days from when claim is submitted.

This regulatory framework aims to promote fairness and transparency in the insurance industry, safeguarding consumers by preventing price discrepancies for the same type and amount of coverage. Second, with very few exceptions, all Final Expense and Burial Insurance policies are THE SAME. You are paying a premium for prescribe death benefit. The biggest difference from company to company is price (RATE). You can shop Final Expense or Burial Insurance all day and every day. And waste a lot of time to get the same quote over and over again.

The BEST WAY TO SAVE TIME AND MONEY is to find an independent broker (or website, but that website is ultimately managed by a broker) that will shop your needs around to the most # of carriers possible. We can be that person. We are contracted with and have access to dozens of companies. But there are policies and programs available for anyone and everyone between those two extremes. Not many brokers can stake that claim!

VERY, VERY IMPORTANT QUESTION. We’ve all encountered those chilling tales of death benefits languishing in limbo for months, or worse, stretching into years. Each state has it’s own laws but most states allow insurance companies 30 days to evaluate the claim.

Most carriers typically process and pay out claims within 7-14 days from the date of submission. DON’T LET THIS SCARE YOU. Most carriers have a reputation for paying out in 7-14 days from when claim is submitted. But there are policies and programs available for anyone and everyone between those two extremes. You can do a little due diligence and research ratings and reviews about company’s history for paying claims.

#1) Work with us because our 100% focus is to help protect you, your family and make sure you get the perfect policy from the right carrier at the best price. #2) Our underwriters and brokers are contracted with up to 12 carriers and are highly trained each carrier’s policies, enabling us to hone in the right policy at the right price for you. #3) If we do not have the best policy for you, we will gladly refer you elsewhere to make sure your best interest is served; #4) 2 of our 12 carriers provide our underwriters and agents custom and unique programs for specialized cases of age, health and tobacco use

– At the ABSOLUTE BEST RATES IN THE MARKET. If you are between ages and 50-85 and are a non-smoker with a history of being “super healthy”, one of our unique programs (carriers) offers the absolute best rates. The other carrier and policy provides smokers with the ability to get non-smoking rates.

About

Cheapest Final Expense is an independent insurance brokerage that offers services across all 50 US states, including the District of Columbia. The content provided on this site is intended solely for educational purposes. The insurance quotes presented on this website are not final. Despite our efforts to ensure the accuracy of all rates displayed, errors can occur. If there happens to be a discrepancy in pricing, the insurance provider’s rates will take precedence over any prices listed on our site.

Availability of products may vary by state. The eligibility for products from each insurance provider depends on several factors, including the state of residence of the person insured, their age, and any medical underwriting criteria. Plans that do not have a waiting period necessitate medical approval for the applicant and are subject to a contestability period. All guaranteed issue plans that do not ask health questions will adhere to a waiting period determined by the insurance company before any benefits are payable under the terms of the policy.

Coverage offered through Cheapest Final Expense may be underwritten by any of the following insurance companies: Ameritas, Lafayette Life, Mutual of Omaha, One America, or Wellabe.

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