Guaranteed Whole life insurance also known as Final Expense life insurance...
is a type of permanent life insurance coverage designed to provide protection for your family by locking in benefits that can help pay for end-of-life expenses, as well as cash value that can be accessed in an emergency.
Guaranteed acceptance for ages 45-85
Coverage amounts: $2,000 – $25,000
Benefits that are never reduced because of age or health
No medical exams or health questions to answer
Affordable rates that never increase
How Does Final Expense Life Insurance Work?
Final expense life insurance works like any other life insurance contract. When you die, your beneficiary receives the death benefit. They can use the money for any reason, including paying for your end-of-life costs and final expenses.
If you have specific needs or wishes for your death benefit, communicate them to your beneficiary, understanding that they can use the money any way they choose. Consider these final expense insurance qualities to help you decide if it’s the right fit.
Very few requirements
It’s easy to apply for final expense insurance and to qualify for coverage. Final expense life insurance doesn’t require a medical exam. Those who apply for guaranteed issue life insurance don’t have to answer medical questions or take an exam. You just have to meet the age criteria (if applicable), choose your coverage amount and apply.
Guaranteed death benefit
The death benefit amount is guaranteed to be paid upon death, as long as the policy premiums are paid. The beneficiary can use the death benefit for anything; it is up to them to decide how to use it.
Since it’s a whole life policy, final expense insurance builds cash value over time. It grows tax-deferred, and you can access it while still alive. You can borrow against it or use the cash value to pay premiums instead of paying them out-of-pocket. The insurer will deduct any outstanding loan balance from the death benefit upon death.
Premiums are locked in from the day the policy is approved. No matter how old you get, you’ll never pay more for your coverage as long as the policy stays in force. The policy may be paid in full once you reach a certain age (usually 100) depending, on the policy and insurance company,
The application process is fast and easy, and coverage is typically approved within a few days, and you may even get approval the same day. Coverage starts after the company approves the policy and receives the first payment.
By now you have more than likely received multiple mailers, ads, or seen TV commercials for Final Expense life Insurance. You may have questions or may be unsure if your quote is the best option?
As a resident and licensed Insurance agent in the State of Arizona & Ohio for Auto, Home, & Life Insurance feel free to contact PJS Insurance Services with those questions. We can look at different options and programs available and get a quote from multiple companies you know and trust. Proudly serving families in Mesa, Gilbert and Queen Creek.
Contact me today at (602) 750-0616
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Experience the difference. To find out how our Independent insurance agency can help you find the right Life insurance coverage, please contact PJS Insurance Services. Give us a call today at (419) 318-9130.