Trinity Life Insurance

Written by Kim Wilhelm

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Last Updated 14 Jun 2024

Trinity Life Insurance Company Overview

Trinity Life is an Oklahoma-based life insurance company. It, along with subsidiary Family Benefit Life, have been selling annuity and life insurance policies since 1997 in the following states:

  • Alabama
  • Arizona
  • Arkansas
  • Colorado
  • Georgia
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Pennsylvania
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • West Virginia

What About Trinity Financial Corporation and Family Benefit Life Insurance Companies?

Trinity Financial Corporation is the insurance holding company that funds both Trinity Life and Family Benefit Life Insurance companies. 

Trinity Life Insurance Policy Offerings

Trinity Life Insurance Company has three types of life insurance policies available. 

Term Life Insurance

The Trinity Life First Term life insurance policy offers level premiums for 10, 15, 20, or 30 years, with coverage ranging from $25,000 to $5 million. Policy issue ages depend on the term year:

  • 10, 15, or 20 years: Issue ages 18 to 60
  • 30 years: 18 to 50 for non smokers, 18 to 45 for smokers

The term life policy doesn’t build cash value like whole life insurance, but it is convertible to a permanent whole life plan until age 95, regardless of health status. Once the term expires, you can renew it annually at your current age.

The policy has three rider options available to purchase:

  • Accelerated death benefit: Allows the insured to access part of the death benefit while still alive if diagnosed with a terminal illness.
  • Accidental death benefit: Pays an additional death benefit if the insured dies an accidental death before age 70.
  • Waiver of premium for disability: Available to applicants 55 and younger, premiums will be waived until age 65 when the insured becomes totally disabled.

First Whole Life Insurance

Available from 15 days to 80 years, Trinity Life First whole life insurance is a great option for children life insurance. It offers a guaranteed death benefit and cash value growth with level premiums for life.

The policy has limited pay options: 

  • Pay until death
  • 10 years of payments
  • Single premium lump sum

This policy has the same rider options available as First Term life insurance products. 

A whole life policy is the best option for low child insurance cost. The younger the child, the cheaper the premium. If you choose a 10 pay policy, you can pay the policy in full and transfer ownership to the child when they’re an adult. 

The cash value will continue to grow even though payments are no longer needed, and the child has guaranteed life insurance, regardless of their health as they age.

Golden Eagle Final Expense Insurance

For most seniors, the Golden Eagle Final Expense life insurance policy might be the better fit. Since it’s specific to seniors, it has a more relaxed underwriting process than standard whole life insurance, which means more seniors can qualify.

Like the First whole life insurance products, the final expense policy has guaranteed level premiums and face amount coverage for the life of the policy. 

It also builds cash value and comes with an accelerated death benefit and nursing home confinement rider. 

The Trinity Life Insurance Company Golden Eagle final expense burial insurance plan doesn’t require a medical exam like the First whole life insurance policy. 

Depending on your answers to the application health questions, you can qualify for one of two senior life insurance policies.

Simplified Issue Death Benefit

Coverage ranges from $2,500 to $25,000 with an immediate death benefit. 

This means even if you die the day after the policy effective date, your beneficiary will receive the full death benefit.

If you don’t qualify for the simplified issue whole life policy, you can still qualify for the graded death benefit option.

Graded Death Benefit

Coverage ranges from $2,000 to $10,000 with a 2-year waiting period

If you die in the first two years of the policy, your beneficiary will only receive a partial amount.

They calculate the death benefit amount in the first two years is calculated using a formula based on your:

  • Age at policy issue
  • Gender
  • Tobacco status

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Trinity Life Senior Life Insurance Underwriting Guidelines

There are around 10 health questions on the Trinity life insurance for seniors final expense application. 

If you answer “no” to every question, you’ll be eligible for an immediate death benefit.

Graded Benefit Underwriting

If you have the following health problems, you’ll only be eligible for the graded death benefit option:

  • Been diagnosed, prescribed, hospitalize for in the last 2 years:
    • Angina
    • Aneurysm
    • Cardiac surgery
    • Circulatory surgery
    • Heart attack
    • Kidney failure
    • Stroke 
    • Transient ischemic attack (TIA)
  • Have you ever been diagnosed for:
    • Chronic asthma or bronchitis
    • COPD or emphysema 
    • Epilepsy
    • Cirrhosis of the liver
    • Liver disease or failure
    • Hepatitis B or C
    • Parkinson’s
    • Multiple sclerosis 
    • Systemic lupus

Watch Out for Golden Eagle Final Expense Application Denial 

There are several pre-existing medical conditions that would cause your application to be denied for Trinity life insurance for seniors:

Does Trinity Life Offer First-Day Protection?

Yes, Trinity Life Insurance does offer first day protection on all policies except for the graded death benefit funeral insurance plan. First day protection means you are eligible for the full death benefit on the first day of the policy effective date.

Pros of Trinity Life Burial Insurance

  • Competitive prices for some
  • Free rider benefits
  • Allows Direct Express payments from Social Security
  • Telephone application
  • Quick decision

Cons of Trinity Life Burial Insurance

  • Many won’t qualify for immediate death benefit
  • Low graded benefit coverage amount

When Can Trinity Life Burial Insurance Make the Most Sense?

Trinity life insurance can make sense for seniors eligible for an immediate death benefit. The simplified issue life insurance policy has competitive rates, but the coverage cap is $25,000.

If you need more coverage, consider: 

Trinity Life Insurance Company also has competitive prices for Type 1 diabetics who became insulin dependent after age 40.

But you might also want to consider Liberty Bankers Life, especially if you became insulin dependent after age 25 or want to get family life insurance coverage.

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Are You Ready to Compare Life Insurance Costs?

Are you ready to compare life insurance costs for your insurance needs? 

Call our agents at Final Expense Direct today. We partner with many final expense life insurance companies to help seniors like yourself get the coverage you need, no matter your health status.

Looking for funeral insurance for your parents or grandparents? We can help you with that, too. 

Final expense life insurance is a great way to pay your end-of-life expenses and preserve your family’s future by removing the financial burden they could face if you die without life insurance

We can provide peace of mind so when the Good Lord calls you home, your loved ones can mourn without having to worry about paying for a funeral or cremation.


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