"Easy Issue", no medical exam type Life Insurance policy is declined.
However, No questions asked, Guaranteed issue life policies are limited to lower face amounts then simplified issue no medical exam policies, and the death benefit paid for death due to an illness within the first two policy years is limited to return of all premiums paid, or all premiums paid plus interest earned at a specified interest as determined by the company.
View why dignitypre-planning is the right thing to do.
Life Over 65 - Senior Whole life Rates for Seniors Age 50 to Over 65, including up to age 89
Many companies now permit the application to be taken over the phone by a licensed agent, instead of face to face. However, some companies still require an agent be physically present with the applicant at the time of the application.
They then have a home office employee call the applicant to verify that the applicant provided the
information on the application and it is true and correct.
What is Burial Insurance?
Final Expense Insurance?
Senior Whole Life Insurance?
Years ago, burial insurance was commonly sold by funeral homes, or by insurance companies with ties to a specific funeral home. The burial insurance policy covered the services provided by the funeral home named in the policy. However, if the services were provided by a funeral home other than the one named in the policy, the benefits were extremely limited and did not come close to covering the cost of a funeral and burial.
Fortunately, those types of policies are not permitted for sale today.
Today, a true whole life insurance policy
is typically offered in increments of $1,000 up to $20,000, $30,000, $50,000, or in some cases even $100,000.
Since it is commonly used by seniors for burial and final expense insurance protection, it is still commonly
referred to as Burial Insurance, Final Expense Insurance, Senior Life Insurance, or Easy Issue, No medical Exam Life Insurance.