Getting a final expense life insurance policy may be easier than you think. If you’re interested in investing in this type of insurance policy, all you need to do in most cases is select an insurance company and choose a plan that best suits your budget and needs.
However, comparing how each insurance company operates may take a bit more time and effort. For example, some companies may be known for their customer support, while others may have more comprehensive benefits. Additionally, some funeral expense insurance policies may include permanent premiums that don’t change, or premiums that increase as you age.
You might find it a good idea to compare final expense insurance quotes, regardless of your age or current medical conditions. While you can easily compare companies and quotes for final expense insurance online, you may also be able to apply directly with an insurer.
You might also consider looking at online customer reviews before committing to a particular policy or company. Here are some more tips you can use when comparing final expense insurance quotes:
- Check to make sure the insurance company is licensed in the state you live in
- Look at company reviews on third-party websites, such as the Better Business Bureau
- Compare multiple policies from multiple insurance companies
- Do not provide your banking information or Social Security number when requesting a quote
- Do not choose a final expense insurance policy with premiums you cannot afford
Additionally, it can be more convenient to compare quotes online. But once you’ve narrowed down your list, you might consider talking with an insurance broker or the insurer directly to better understand the policy and company that you’re considering.
During your search for an affordable final expense insurance policy, you’ll likely want to find a policy that provides adequate coverage and benefits with premiums that will not increase. Additionally, some companies may have easier claims processes, which means your loved ones may be able to file a claim more quickly.
Some of the most popular final expense insurance companies include the following:
- American Association of Retired Persons (AARP)
- Lincoln Heritage Funeral Advantage
- Colonial Penn Burial Insurance
AARP burial insurance is a nonprofit organization that focuses on seniors over the age of 50. The company partnered with the New York Life Insurance Company to create exclusive insurance policies for members. While these policies can provide great coverage, you must be an AARP member to get access to their insurance policies.
The Lincoln Heritage Funeral Advantage is another popular insurer choice for seniors because it does not require a health examination. However, their policies are limited to funeral insurance and do not cover other end-of-life expenses.
Finally, Colonial Penn burial insurance is part of the organization’s Guaranteed Acceptance Life Insurance policy. This policy may be an attractive option for some because you can’t be turned down for health reasons, including your medical history.