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Who to Choose for Final Expense





Tony Neiswander
Case Design Specialist

Lately I have heard lots of questions about final expense carriers. Everyone wants to know who to go to, how it works, and will their client even qualify. Final expense is one of the most bare bones policies you can find. It is used for exactly what it says in the name: final expenses. These policies won’t be big enough to leave massive death benefits for beneficiaries. These are for clients of low means that just want to make sure that the rising cost of funerals doesn’t have a massive impact on their loved ones once they are gone. The benefits will be enough to pay the funeral home and a little bit extra to pay off any possible medical costs incurred by the client before passing.

Since the clients that are looking for these policies are normally not well off, it is very important to find the right price for them. On top of that, their health might not be the best either. That poses the question of how can you get the best for both of those concerns. That is where Settlers Life comes in. Their product combines a low premium with very lenient underwriting. There are three levels of products within this company, a gold, silver, and bronze. Depending on how you answer underwriting questions, you will receive one of these three offers. Bronze is easily the most accessible and will allow coverage for even the least healthy of clients. In order to qualify for Bronze you must answer NO to these two questions:

  • Is the proposed insured currently hospitalized, bedridden due to disease, confined to a nursing facility, or receiving hospice or home health care?
  • Has the proposed insured been diagnosed by a member of the medical profession with AIDS, ARC, or tested positive for HIV?

These are literally the only two questions standing between your client and being qualified for the Bronze product at the very least. Since this is very easy to qualify for it has a low face maximum of 15,000, but as the underwriting class raises so do the faces.

Settlers is a great opportunity for any client that comes to you when it’s too late to buy your typical life insurance. Their health may have taken a downturn and they realized that they have waited too long to purchase protection. This is a solution that can help protect those clients and their families from a massive bill at the time of their passing. This product has worked wonders for a lot of agents already. Calculating a premium is a simple as a few clicks.

Contact us today if you think this product can fit any of your clients.

TONY NEISWANDER, MBA  |  CASE DESIGN SPECIALIST   636.695.2842  TNEISWANDER@FIRSTHEARTLAND.COM

 

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