![]() To learn more about the final expense insurance policies that we offer, or to begin contracting with MCC Brokerage, contact us today. law, petroleum, gasoline and diesel usage and pricing 2.1K views, 24 likes, 7 loves, 159 comments, 5 shares, Facebook Watch Videos from KCRA 3: LIVE Gov. By providing your elderly clients with final expense insurance, you can help them rest easy knowing their affairs are in order as they approach the end of their life. When a client enrolls in final expense insurance, they name someone a beneficiary - usually a spouse, sibling, or a son or daughter - to use the death benefit money to execute their funeral plan. This type of policy will require your client to fill out a more detailed medical questionnaire but will offer much more coverage than a guaranteed issue policy. CNBC reported that 40 of American families couldn’t cover an unexpected expense of 400. Simplified issue life insurance, on the other hand, is for individuals who are considered only moderate risk. Open Care Seniors whole life final expense plan offers first-day coverage, but they tend to be more expensive than other companies. This means that if you are healthy you are getting the same policy that someone that has cancer, dementia, or are terminal illness. ![]() They also tend to offer lower maximum coverage amounts. Ok, this final expense policy offers up to 25,000 in coverage to seniors aged 45-85. Guaranteed issue policies tend to cost more because they will cover high-risk individuals with few questions asked. Different Types of Final Expense Insuranceįinal expense insurance typically comes in two types of policies - guaranteed issue life insurance or simplified issue life insurance. ![]() However, with a solid final expense policy in place, your clients won’t need to worry about their surviving loved ones having to pay these costs out of pocket. If not covered, these expenses can have a substantial financial impact on family members. While traditional life insurance policies are primarily meant to replace income that’s lost when a loved one dies, final expense insurance can help cover expenses associated with death, such as caskets, embalming, and other funeral costs. Final Expense and Preneed plans are designed to pay for funeral, burial and any other related expenses upon death. Most people don’t like to talk about end-of-life issues, but it is important to plan for these types of concerns.
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