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Everyone's got their hands in your pockets. We're here to bring you the truth about local news, local businesses, and Florida programs available for residents and seniors. In this article, we're going to tell you what most "sales reps" wouldn't tell you about Final Expense Insurance, from the perspective of an insider, a licensed Florida State Certified Final Expense agent, and the fastest growing independent insurance agent in Florida. The reason we're the #1 growth company in Final Expense in Florida is because we tell the truth in a shady industry. We're here to make you money, not cost you money.
First, "What is Final Expense Insurance?"
Final Expense Insurance is a type of insurance policy that is designed to cover the costs associated with a person's funeral and other end-of-life expenses. It is also known as burial insurance, funeral insurance, or end-of-life insurance. This type of insurance policy typically has a relatively low death benefit, ranging from $5,000 to $25,000, and is intended to cover the costs of a funeral, burial or cremation, and other final expenses such as medical bills or legal fees.
Final Expense Insurance is a type of permanent life insurance, meaning that it will remain in force as long as the policyholder pays the premiums. It is often marketed to seniors and those who may not be able to qualify for traditional life insurance policies due to health or other issues. The premiums for final expense insurance policies are typically lower than those for traditional life insurance policies, and the application process is generally simpler and quicker.
Final Expense Florida is an independent agent that has created Florida State Certified programs with the best insurance providers in the United States. Our Final Expense Insurance has guaranteed approval for Florida residents (we can cover anyone, regardless of health or history), with no medical exams, no age limits, no health history limits, and a fixed premium that can never increase for the rest of your life and can't be cancelled by the insurance companies. Premiums can be as low as $20/month, but average around $75-$100/month.
Now, let's talk about real questions and truthful answers about Final Expense Insurance, the kinds of questions that would make a sales person squirm if you asked them face to face.
Here's what a salesman would tell a family member about Final Expense Life Insurance.
1. If you have tons of cash sitting around, you don't need it
2. If you have tons of life insurance, you still might want it. Final Expense Life Insurance pays out in a couple of days, doesn't wait for probate, and traditional life insurance takes weeks to months to pay. You can use the small Final Expense cash to pay for the immediate family needs. Funerals are expensive no matter how you do them, and look for an average of $10,000
3. Shop around. Look for an independent insurance agent who is not beholden to selling you what is called "captive" insurance, which means they're a slave to their employers often overpriced policies. Independent agents work for their clients, not the insurance companies.
4. Ask what the highest value is you can get
5. Most policies do not require a health examination, but be aware that your agent is required under state and federal law to be honest about anything you tell them.
6. If you smoke the occasional cigar, you're not a smoker
7. The SAME face value policy has dramatically different premiums depending on which company you are with
8. Some of the most famous companies are actually selling you TERM insurance, not final expense insurance (which is whole life insurance). That's a problem, because term insurance is cancelled usually when you reach 80. Final expense insurance covers you your entire life.
9. Make sure you get a premium you can afford easily. Don't overextend yourself.
10. If you want over $50,000 in coverage, you should be looking at term or whole life or universal life, not final expense. Final Expense is best for ... final expenses.
11. Make the agent TRY and grade you for the HIGHEST level (lowest risk to the insurance agency) policy. The lower risk you are, the higher the face value and/or lower premium. So don't let them judge you and get you something crappy when you might qualify for something better. Let the underwriters tell you if you have to take the medium tier,
12. Final expense can insure literally ANYONE under 85, regardless of health conditions.
13. The brand names you have heard of are way more expensive for the exact same thing. I turned down an offer from an insurance company that wanted us to sell their final expense policies. They rip people off, but it's a brand name almost everyone knows and they prey on people because of that. The higher the premium, the more the salesman makes. Be wary of salesmen who want to rip you off as they chase big commissions. You and I know LOTS of small commissions is more work, but in the long run we can sleep better at night because we're helping people, not ripping them off.
14. Ask tons of questions
15. Every state has a free look period, which is what they call a window of time after your policy is delivered when you can still cancel. Ask what the free look window is in your state. In Florida, it's 14 days.
16. Most policies have a 30 day grace period if you are late paying before they cancel your policy. The best agents will touch base with you if you are in any danger of having your policy cancelled because of a billing oversight.
17. Ask what the AM Best rating is for your insurance carrier. AM Best is like Consumer Reports for insurance agents. You want a carrier that is at least B+ if not A-. B or below is NO GO.
18. Tell your insurance agent where you got their information from. Specifically, if it came from a funeral parlor, we'd like to know that. Funeral parlors are prohibited by law from selling Final Expense policies. Makes sense, right? They can't create their own customers or they'd have an interest in cashing in on your policy. Nope. But we do get a TON of referrals from funeral homes, and we like to know that. We can also work with them when you do cash in your policy to help with arrangements and at least make sure you are being taken care of.
19. Ask if your Final Expense insurer has any FREE assistance during the funeral planning time. The better carriers DO, the cheapest carriers don't. That might be OK, but it is worth asking.
20. We sell term insurance separately, but not to (older) people and many insurance sales people don't explain to older people that once they hit a certain age, like 80, their insurance is cancelled and everything they paid is GONE. However, the opposite is true with Final Expense. As long as you pay the premiums (which can never increase) they can never cancel your policy.
If you are in Pinellas, Pasco or Hillsborough we do free appointments, no obligation. In 20 minutes or less you can protect your family. To schedule a free meeting at your home for additional information, visit www.FinalExpenseFlorida.com and make sure and tell them that Tidings Media referred you. Tidings Media customers get a free $60 planning guide just meeting with us even if you never buy the Final Expense Insurance for your family.
Final Expense Florida is a Florida registered d/b/a of Form America LLC and a sponsor of Tidings Media.
