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Final Expense guides
AARP life insurance: how the New York Life program worksAARP does not insure anyone. New York Life issues the term, permanent and guaranteed acceptance policies sold to members. What they offer and the catches.Burial insurance vs final expense vs preneedBurial and final expense insurance are the same small life policy; preneed is a prepaid funeral contract. How each works and what happens if plans change.Mail-order and direct-response life insuranceDirect-response life insurance is sold by mail, phone, TV and web ads without a local agent. How it works, what it costs, who it suits, and what to check first.Final expense insurance: what it covers and costsFinal expense insurance is a small whole life policy meant to pay funeral and end-of-life bills. How it works, what it costs per $1,000, and who should skip it.What a funeral costs and how families pay for itNFDA's 2023 medians put a funeral with burial at $8,300 and with cremation at $6,280, before cemetery costs. What drives the bill, your FTC rights, ways to pay.Graded death benefits: why the first two years matterA graded death benefit pays only premiums plus interest for natural death in the first two or three years. How the schedule works, with a worked example.Guaranteed issue life insurance: no health questions, with limitsGuaranteed issue life insurance accepts you with no health questions, but pays a reduced benefit early on and costs more per $1,000. When it makes sense.Life insurance after 80New life insurance after 80 is limited to guaranteed issue and some simplified policies. What exists, what it costs, and what to do with policies you own.Life insurance at 70: options and costsAt 70 you can still buy term, whole life, guaranteed universal life or guaranteed issue coverage. How each works, what drives the price, and how to choose.Life insurance for seniors: what's available after 65Seniors can still buy term, whole life, guaranteed universal life, and no-exam final expense coverage. What each costs, who needs it, and when to skip it.Medicaid eligibility and life insurance cash valueHow Medicaid counts life insurance in its asset test: term vs whole life, the $1,500 face-value rule, burial exemptions, the look-back and estate recovery.Preneed funeral insurance and funeral contractsHow prepaid funeral contracts and preneed insurance work, what the FTC Funeral Rule does and does not cover, and the questions to ask before you sign.Simplified issue life insuranceSimplified issue life insurance swaps the medical exam for a few health questions and database checks. How it works, what it costs, and when it beats the rest.Life insurance ads on TV: what "$9.95 a month" buysTV life insurance ads quote a low monthly price for guaranteed acceptance whole life. What a unit buys, the two-year benefit limit, and how to compare.