What to Do Before Buying Final Expense Insurance
When searching for a life insurance policy, it can be hard to know where to begin. There are many ways to compare policies and providers, which can make the process feel overwhelming. However, we can help guide you in your decision making. Final Expense Direct shares a few tips for how to compare providers before you sign on the dotted line.
Compare the Premiums
A premium is the money an individual pays for a life insurance policy. Price is often the first factor we consider when choosing a policy. Everyone wants to get a good deal.
So, how can you maximize your savings in the long run? Check the premiums from multiple sources. Each provider has a unique batch of qualifying criteria, so you might pay more or less for coverage. It depends on the provider you choose.
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Assess the Quality of Coverage
After you compare the price, assess your coverage amount. The cheapest policy may not always be the best fit for your lifestyle or medical needs. Have you read the “fine print” of your policy? Do you know how much coverage you need? It will vary per person, but these are some items to consider:
- Casket — Account for this expense if you plan on burial. A casket could cost between $5,000 to $10,000 or more, but it depends on the kind of material.
- Cremation — If you plan on cremation, you will likely not need as much coverage. The average cremation costs $2,000 or less, so you could really save money.
- Funeral services — Do you want formal or informal? Include the funeral director or facility costs.
- Outstanding debts — like a mortgage, should also be considered because you can use a final expense policy to neutralize the costs.
Read Up on the Provider’s History
Once you have identified the price and quality of coverage, the next step is to research the provider’s history. What are their customers saying about them? Do they have an established track record or are they a recent startup?
Americo, Foresters Financial, and Mutual of Omaha are just a few of the top insurance providers we represent. All of these carriers have a rich history in the insurance industry.
By working with an agent like the ones at Final Expense Direct, you get an unbiased, clear, and accurate overview of a provider. The right final expense policy is out there for you. When you’re ready to compare policies and providers, contact our team for assistance. It’s easy to get a quote — we will just ask for your zip code to look up the best rates in your area.
Looking for Final Expense Insurance Quotes?
Final Expense Direct works with all of the top insurance companies in America. It only takes one phone call to get quotes from multiple companies. We’ll make sure we find the perfect plan for you and your specific needs, so call 1-877-674-0236 today!