Final Expense Insurance: What are the Qualifications?
Common types of Life Insurance:
But what exactly is final expense life insurance all about?
When talking about insurance, many are skeptical about acquiring final expense insurance or also known as burial insurance, but that was in the past. Today, people are getting more accustomed when talking about death and planning for a smooth passing. If you are concerned about your loved one in case of an unplanned death, then you need to think wisely and consider burial insurance.
Understanding Burial Insurance and Burial Insurance Quotes
Just like other insurance policies, it can cover all funeral expenses or part of it depending on the family’s decision on the type of casket and method of interment. It will ease the burden from the bereaved family and focus on moving on with their normal lives. The following are essential features of this policy.
- An applicant does not have to undergo any medical examination.
- The claim can start from $2,500 up to $75,000 or more depending on the coverage plan.
- The claim is issued within 48 hours after filing.
- The monthly premium will not increase.
- A Bereaved family beneficiary can use the money for any purpose.
It is good to know that the application process is very simple. All you need to do is to call a reputable and experienced insurer or visit their website. An agent will contact you through a voice call and discuss the application with you or you can now use our new direct to consumer online application form and provide a digital signature. They will give you several payment methods and once payment is made, then you will have your burial plan. Anyone can apply even without any dependencies to ensure decent funeral services.
However, it is important to take note that not all are qualified for this policy as there are qualifications that you need to meet.
- People who are currently admitted to a hospital are not qualified.
- People who are in hospice cannot apply for this policy.
- Those who are terminally ill with less than a year to live will not be granted.
- Those who are 89 years old and above are not qualified.
- People who have AIDS or HIV positive will not qualify for the policy.
- People suffering from dementia or Alzheimer’s disease will not be granted.
Important Final Note about Burial Insurance
If you are not suffering from the above conditions, then it means that you can easily apply for this policy. It is for people who want to provide a safety net for their family in case of their untimely demise. Because of its affordability and fixed monthly premium, many considered it as their only option to get coverage for their funeral expenses in case of death.