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Final Expense blog
How to buy a final expense policy from first quote to deliveryA numbered walk through the purchase: sizing the amount, comparing quotes, answering health questions, choosing a benefit type, signing and checking the policy.Work out your final expense number with a worksheet and a sample familyAdd funeral, debts, medical bills, travel and estate costs, subtract money already set aside, and reach a target amount, with a labeled sample household.Seven final expense insurance claims that sound true and are notSeven things commonly said about cheap, guaranteed and no-exam final expense policies, each tested against what the contract and the claim process actually do.Final expense insurance or a funeral savings account: how to chooseWeigh what a final expense policy guarantees against what savings keep flexible: health, discipline, timing, access, Medicaid and who the money must reach.Final expense insurance: the questions families ask, answered in depthPlain answers on coverage amounts, waiting periods, level premiums, beneficiaries, cancelling, paid-up status and what happens to benefits that go unspent.How a graded death benefit pays out in year one, two and threeThe arithmetic of a graded death benefit: premiums returned with interest, percentage steps, the accident exception, and how timing changes one death's payout.A guaranteed issue policy from application to first claimFollow one hypothetical applicant through the short form, the waiting period, the premiums and two possible claims, to see what a beneficiary actually receives.Mistakes seniors make when buying final expense coverageEight buying errors, from sizing the policy wrong to missing the graded period, with how each happens, what it costs the family and how to avoid it.