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Final Expense Insurance is a kind of whole life insurance that is aimed towards covering funeral and medical expenses when the beneficiary passes away. It is also commonly known as burial insurance or funeral insurance.

The average cost of final expense insurance cost varies based on numerous factors such as age, gender, health, the kind of insurance chosen, and the coverage amount. However, you will pay a larger sum for final expense insurance compared to a standard insurance policies. Hence, the cost can vary between $30 – $70 per month.

Upon the approval of your online quotation application, you will be issued various policy quotations tailored to suit your needs. In case where further understanding is needed on the customer’s end; they are free to contact one of our experts to gain complete insight on all the aspects of the insurance policies they are issued to establish complete transparency. While we always work towards making the quotes the best value for our customers, the final quotation prices may vary from the initial ones based on the outcomes of the underwriting procedures.

Based on your preference, we will send you the policy delivery requirements either through postal mail or online through email (optional assistance through phone is also available). Once the customer agrees on the policy requirements and confirms through their signatures over company forms and any preceding payments, they will have finally purchased their life insurance policy

The policy options you choose will play a major role in mitigating the financial burdens for your loved ones once you pass away. The duration of your policy should be chosen carefully to cater to all potential claiming instances.

Your coverage duration choices may vary between 5-30 years of life insurance, however, that depends on your age, exact insurance plan, and the general policy ranges of the companies involved in the insurance sector.

Your policy coverage amount also depends on the coverage needs for which you are insuring yourself for. There may be instances where a larger coverage may be necessary to alleviate the funeral and medical expenses for your loved ones, instead of risking buying shorter coverage plans and leading to future financial burdens for your family.

In cases where the underwriting process has been concluded and your insurance application has been declined by the company, you have the freedom to choose another insurance company with less strict rules regarding their policy underwriting plans.

You can also apply for graded benefit policy or guaranteed whole life insurance policy which doesn’t take your health into consideration when determining your qualification for the policy plan. However, these insurance policy plans are far more expensive compared to others.

There are certain precautions to be taken before going through a medical exam for individuals with varying medical conditions:
Diabetes –

• It is recommended to schedule the exam 2-3 hours after having a meal. However, in cases where blood is to be extracted, it is recommended to fast for 6-8 hours before undergoing the medical exam.
• It is also recommended for the individual to empty the bladder after eating.
• Drink 2 glasses of water before taking the exam.
• Avoid content with sugar in it before taking the exam.
• Exercise that strains the body is also discouraged for at least 24 hours before taking the exam.

Hypertension –

• Avoid caffeine, alcohol, and other stimulants.
• It is recommended to schedule an exam in the morning.
• Do not forget to take your daily medication.
• Take some time to relax before having the examiner observe your blood pressure.

Urinary Problems –

• Empty your bladder right after the meal preceding your medical examination.
• Avoid any sugar content before taking the examination.
• Exercise that strains the body is also discouraged for at least 24 hours before taking the exam.
• Drink 2 glasses of water before the examination.

Additional Pointers –

Be completely transparent regarding your health issues and medical history with both the examiner and in the medical application. Never try to hide any medical conditions or records from the insurance entity. This will ensure a smooth sailing for the medical exam procedure.

Final Expense Insurance is best geared towards seniors and individuals with severe health issues who are unable to become eligible for traditional insurance coverage.

There are a few key factors to keep in mind when evaluating life insurance companies:

• What is the financial stability of the company – to determine whether the promises of the company’s capacity to pay out their insurer’s claims hold true or not.
• What is the customer support rating of the company – insurance sector is a domain where a high level of interaction with the customers is always necessary. Therefore, it is paramount to explore whether the potential company you are choosing for your insurance quotes has a strong track record of facilitating its customers in both introducing their policies and handling outlying circumstances that deviate away from the normal processes.

Whether the company’s policies are geared towards your needs – different insurance companies focus on specializing in different aspects of insurance policies. Therefore, it is important that the company you’re looking towards has a strong foundation and track record for providing policies that suit your needs the most to avoid any service mishaps in the future.

Underwriting is the process of analyzing the information regarding the customer’s insurance application and all necessary data with regards to potential risks so that a correct insurance policy charge is attached to the application. These charges are then attached to a health class which is assigned to the individual once the underwriting process has concluded.

Following data is required for the underwriting procedure:

• All medical records
• All medical examination reports
• All laboratory test reports
• Completed insurance quotation application
• All reports centered around vehicles and driving
• Inspection report (a report generated by an executive of the insurance company being applied to through a telephonic interview)
• Medical Information Bureau report

The underwriting process takes approximately 4-6 weeks from the time the underwriting entity confirms they have received the complete set of information to begin the process. Once the process begins, the underwriter reviews all the available information and determines the range of the applicant’s health class and the premium associated with the potential insurance policies associated to that health class. They will then notify the applicant’s Case Manager regarding the results. The Case Manager will then notify the applicant whether the application has been accepted or rejected and, in case of acceptance, discuss all the possible policies the applicant can accept based on their assigned health class and underwriting results. The policy will then be either sent to the customer via postal mail or email based on their preference, after which they will be allotted a certain amount of time to choose and accept one of the listed offers.