by Guest » Thu Jun 14, 2012 08:29 am
I have got a life insurance policy with my present wife as the beneficiary.
Can I get a final expense insurance as well?
Is there any age limitation within which I have to buy a final expense plan?
Are medical check-ups done for this type also?
Can I get a final expense insurance as well?
Is there any age limitation within which I have to buy a final expense plan?
Are medical check-ups done for this type also?
Posted: Thu Jun 14, 2012 09:33 am Post Subject:
Typically, a "final expense" policy in my mind is anywhere from $5K - $25K. With the carriers I deal with, 85 is the oldest age at which they'll issue a policy - not to say there aren't some that will issue at later ages. Quite a few final expense policies have few medical questions and you're either approved or declined - no medical exam needed. Some are guaranteed issue, no matter your health at all. However, if you're in good health, and aren't opposed to an exam, you might be able to get a better rate. For example, you might pay the same for a $10K non-medical policy as you would a $25K medical exam policy if your health is decent. Hope that helps!
Posted: Thu Jul 05, 2012 10:47 am Post Subject:
Some life insurance providers may hesitate insuring someone older than 65 under a Final Expense policy. It doesn't hurt to ask though. There are several aggregator websites that host Final Expense quotes; using the quote generator usually doesn't cost anything. Are you looking for an FE policy because your current coverage is not enough and you're not in good enough health to qualify for a larger policy? You could look at getting a term life insurance policy for a smaller amount. That way, the medical examination may not be as expansive. Life insurance through your employer may also be a good option.
Pat Cassidy
Disclaimer: I work for AccuQuote and this is my personal opinion.
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