Final Expense

Final expense coverage offers your clients peace of mind.

Covering funeral expense and other final expenses when a family member passes away eases the financial burden on their survivors.

The Final Expense Market has exploded in the past 10 years. There are now numerous carriers in the marketplace which gives you and your clients a lot of choices.

Ocean State Brokerage represents the major carriers including:

Americo | Gerber | Mutual of Omaha | Transamerica

Lafayette Life | Aetna (including new CVS Accendo)

Cigna | AIG | American Amicable

Forrester’s | NGL (Funeral &Estate Trusts) | Lumico

Great Western | Oxford Life | United Home Life

Many of these carries now allow e-signature and some do voice signatures so personal contact is limited or not needed. (Contact me for specifics on desired carrier)

In today’s market you can get coverage up to $50,000 and up to age 89 with selected carriers.

We can layer coverage with different carriers to get more if needed.
One note of caution about the Final Expense Market.

These products are designed to be underwritten solely by the answers to the health questions the carriers put on their respective applications.
Yes there are “knockout” questions that differentiate between a level death plan or a modified or graded benefit plan.

All carriers ask essentially the same health questions.

The difference is how they ask the question and the time-frame they use for their “lookback” period.

One carrier may lookback 12 months, another 24 months. This makes all the difference when it comes to what plan your client may qualify for.

The applications are simple Yes or NO answers. Due to HIPPA rules the carriers are not permitted to ask more than what they ask for on their applications.

Some carriers ask height and weight. A couple do not.

There is ONE major carrier that will allow one major condition (COPD) to get a level death plan if they do not have any other underlying conditions. (You know this by studying the app for this particular carrier)

The bottom line is before you quote a client or prospect I recommend you first qualify them based on their height and weight, their medications, any recent hospitalizations and any other health conditions they may have.

Once this is known pick a carrier that they can qualify for.