Jefferson City, MO Final Expense Life Insurance
Serving Jefferson City, Columbia, Osage Beach, Hermann, Fulton Missouri
Make a Good Choice
In all, there are three different types of policies regarding final expense life insurance. Let's try to understand exactly what each one offers to ensure that you have the best policy that meets all of your needs and that you are paying the right monthly premium. Hutchison Insurance Group will look at all options of Final Expense Life insurance. For example, you might feel inclined toward a policy that says you will either have no health questions to answer or claims that your acceptance will be guaranteed. Granted, both of these factors sound great. In reality, these policies will require paying a premium that is much higher. However, there are always multiple factors to consider and there are times when these guaranteed issue policies are right for a customer. This is only one of the many ways Hutchison Insurance Group can help. They know all of the variables involved.
The actual death benefit itself is limited to a return of the premium plus interest in the event that death occurs anytime within the first two years of the policy going into effect. If you are someone who doesn't have any serious health issues, the chances are greater that you will be able to qualify for plans that are much cheaper in cost which will also pay out immediately upon your passing. Instead of settling for a plan that is simply more convenient for you, you should take the time to learn more information about how you can save money while, at the same time, increasing your overall payout.
Policies with Level No Waiting Periods
"Level" is a term that, in this case, is used to describe the fact that the policy payout will always be the same every single year. 100% of your total death benefit will be paid out without having to wait through the otherwise-mandatory two-year waiting period. Additionally, the term "level" also describes that the premium will be the same amount every year as well. This plan is often seen as being the most popular due to the fact that a lot of people will be able to qualify for coverage through them. These types of plans generally accept clients with a myriad of different health issues, and they are also very affordable and available without having to take an exam.
Graded Policies
These types of policies are specifically designed for individuals who suffer from more serious health issues, and have done so within the past two years. Within the first two policy years, the death benefit itself will be less than the actual full face amount of the policy. For instance, graded policies can pay approximately 40% of the total death benefit during the first year, while in the second year, they can pay 75% of the benefit. When year three begins, 100% of the death benefit will be payable to whomever is deemed to be the beneficiary.
Guaranteed Issue Policies
For these plans, individuals will not be required to answer any health questions whatsoever in order to be able to qualify. The benefits that are paid within the first two policy years are limited to a return of all premiums that are paid, as well as a further interest ranging from 10% to 20%. When the second year comes to an end, 100% of the death benefit will be paid. This will continue throughout the remainder of your policy. These types of plans are recommended for individuals who typically either suffer from serious health issues or have had organ transplants.
Medical Exams Not Required
A majority of final expense-related insurance plans are offered with the provision that medical exams are not required in order to qualify for them. Instead, in order to become eligible for these plans, insurance providers will often require information such as the following:
*Height
*Weight
*General health history
*Smoking status
Many individuals will qualify for these plans at rates that are affordable to them, as well as without having to go through any kind of a waiting period.
Highlights
*No medical examinations required
*Covered for your entire life
*Cash value guaranteed
*Premiums will never increase
*Coverage amounts range between $5,000 and $50,000
If you need Final Expense Life insurance, contact Hutchison Insurance Group today for answers to your questions and a free quote!