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Today I’m Going To Talk About The Four Kinds Of Final Expense Burial Insurance Plans To Stay Away From
Discover the four types of burial insurance never to buy in my new video listed below.
I intended this post for people 50 and older who are looking for a plan specifically to cover their final burial expenses.
If a person is looking for a mortgage protection plan or an income replacement plan, the suggestions here might be different, but the main purpose here is to help the people out there who are on low incomes, whether they are fixed or whether they have a tight budget, looking for an affordable plan just to take care of their burial expenses.
Here’s An Overview Of Today’s Topics:
- Term Life Insurance
- Universal Life Insurance
- Guaranteed Whole Life Insurance
- Mail-Order Insurance
- What should you do?
- Burial Insurance Rates, Age 40 to 90
Term Life Insurance
Let’s talk about the plans out there that you definitely want to stay away from. The first one is a term insurance policy. If you are over 50 years of age, no doubt you’re receiving all sorts of mail and seeing commercials on television from these companies –specifically AARP and Globe– that offer term life insurance.
Many people aren’t familiar with what term life insurance means. Well, I’ll keep it short and sweet: term is short for terminating. When I sit down as an agent with my customers, the first thing I talk about is term insurance. Term insurance covers you for a period of time before it terminates when you reach a certain age. Meaning if you outlive that coverage, you don’t have it; it’s gone, and you don’t have the protection that you really truly want.
Universal Life Insurance
The second kind of plan to avoid is called a universal life insurance program. Universal life would normally be comfortable, well-known companies that eventually will turn into problems for a lot of different people.
Guaranteed Whole Life Insurance
The third kind of plan to not purchase is a guaranteed issue whole life plan. These are plans where they as no health questions. They come from the companies you see on television such as Colonial Penn, Physicians Mutual, or Mutual of Omaha. The catch is if you pass away within the first 2 years you will not receive your full death benefit. Your beneficiary will only get a refund of what you paid in plus a bit of interest.
The very last kind of final expense burial insurance to avoid is a plan that comes through the mail. I’m an insurance agent and I advertise just like any business does, but it just seems that most of the time the insurance offers that comes through the mail –from all sorts of junk mail senders– usually have catches attached to them. Either their prices go up as you get older or the coverage cancels or doesn’t cover it all for a number of years.
The point is you gotta be very careful and avoid those plans that come through the mail. Deal directly with an insurance agent that represents different companies. You don’t want to deal with an agent that only sells one company; you want to deal with an agent that represents multiple companies that can shop around for you so he can get you the best price for the best coverage.
What should you do?
The truth is that it’s very easy to get coverage that starts from the first day for many people –although that’s not a guarantee– but it’s always worth trying to get before you go to one of those other companies that don’t ask health questions because we never know when we’re going to die. I’ve had several clients who were in seemingly good health who have passed away within the first 2 years of their policy. Fortunately, they were all covered, and their benefits were paid to their beneficiaries just as we had planned.
If you want to learn more about options for high-quality, first-day coverage that doesn’t terminate or go up in price, I urge you to either give me a call, shoot me an email through the Contact page, or submit your information through the Instant Quote box. I will be happy to give you a quote and let you know if I can help you.
If you like what I have, great! If not, that’s okay too. No high-pressure sales tactics here. I just want to help everyone I can get good insurance coverage so they can have peace of mind.
Burial Insurance Rates, Age 40 to 90*
Rates For $5,000 In Burial Insurance
Rates For $10,000 In Burial Insurance
Rates For $15,000 In Burial Insurance
Rates For $20,000 In Burial Insurance
Rates For $25,000 In Burial Insurance