Pricing

• What’s My Price?
• What Companies Are Best?
• Term Life Insurance Companies
• 2-Year Waiting Period Companies
• The $9.95 “Per Unit” Myth
• Actual Male & Female Pricing (65 Years Old)
• Additional Riders Available

WHAT’S MY PRICE?

To get you exact pricing, we (or any other company) will need to know your:

• Gender
• Age
• Smoker/non-smoker status
• State you live in
• Basic health information
• Desired coverage

That’s seven variables needed to get you a plan with the most value, the lowest pricing, and first-day coverage.

If you want to see actual sample pricing, view the chart at the bottom of this article (male & female pricing included)

WHAT COMPANIES ARE BEST?

At Final Expense Guy, all of our plans offer 1st-day coverage or benefits. We don’t encourage people to buy policies with 2-year waiting periods…ever!

Below is a list of almost all the final expense life insurance companies in the United States. Some companies are better than others. Some have 1st-day coverage, some do not.

Here is a list of most of the final expense companies in the United States (in alphabetical order):

• AAA Life Insurance: EXPENSIVE! 2-year waiting period only. No health questions.
• AARP: Low Price BUT Term life, 5-year price increases, cancels after age 80
• AETNA (CVS Health): Low price. Good for overweight people & COPD
• Allstate: Expensive & strict underwriting
• Assurant/American Memorial: Moderate pricing
• Americo: Expensive & terrible smoker rate program
• American Amicable: Moderate rates, good smoker rates
• AIG/American General: EXPENSIVE! 2-year waiting period only. No health questions.
• Christian Fidelity: In-person application only
• Family Benefit: : GREAT PRICING & easy underwriting, great for diabetics
• Farmers Insurance: Expensive & strict underwriting
• Foresters: Moderate rates about 8% more expensive
• Gerber: EXPENSIVE! 2-year waiting period only. No health questions.
• Globe Life: Term life insurance, 5-year price increases, cancels after age 80
• Great Western: EXPENSIVE! 2-year waiting period only. No health questions.
• Grange Insurance: Average pricing
• Greek Catholic Union: Good pricing, limited state availability
• Guarantee Trust Life: GREAT for CHF, COPD, heart problems, serious health issue
• Liberty Bankers Life: Niche carrier for specific health problems
• Lifeshield Life Insurance Company: Average pricing
• Lincoln Heritage: EXPENSIVE! About 40% more expensive & up to 3-year wait plan
• Mutual Of Omaha: No same day approval, slow & difficult underwriting
• New York Life: Low Price BUT Term life, 5-year price increases, cancels after age 80
• Oxford Life: Good pricing, in-person application only
• Pioneer Insurance Company: More expensive
• Prosperity Life/SUSA: Niche carrier some health problems, good with seizures
• Royal Neighbors Of America: GREAT PRICING FOR for overweight & recent hospitalizations & diabetics
• Security National Life: Moderate pricing
• Sentinel Security: Moderate pricing
• Standard Life And Casualty: Moderate pricing
• State Farm: Expensive & strict underwriting
• Transamerica: Slow & difficult underwriting
• Trinity Life: GREAT PRICING & easy underwriting, great for diabetics
• TruStage: Low Price BUT Term life, 5-year price increases, cancels after age 80
• United Home Life: More expensive

Shopping for all of these companies is often difficult to impossible for most consumers. The best solution for most people is to allow Final Expense Guy to help compare our 1st-day coverage policies to all of the companies shown above.

We can then educate and inform you on how to qualify for the best benefits that offer the most value.

But keep reading to find out more…

TERM LIFE INSURANCE COMPANIES

Term life insurance is NOT appropriate for final expense life insurance (unless you know the exact date you will die).

Why would you choose a term life insurance plan that will cause your price to increase every 5 years and cancel after you turn age 80? (exactly at the time when you need this insurance the most.

Term life is cheap at first and gets more expensive as time goes on…until it flat out cancels on you before you die, and all that money you invested is gone…bad stuff!

Common term life companies:

• AAA Life Insurance
• AARP
• Fidelity Life
• Globe Life
• New York Life
• TruStage

2-YEAR WAITING PERIOD COMPANIES

Why would you ever buy a policy that won’t pay out a penny in death benefits in the first 2 years?

You might say, “Well, I’m pretty healthy, and I don’t expect to die in the next two years, so I’m OK with a waiting period.”

Here’s some bad news for you: nobody who is reasonably healthy ever expects to die in the next two years, yet people die unexpectedly all the time.

Don’t get suckered into buying a costly 2-year waiting period plan!

When you work with a company like Final Expense Guy, our #1 goal is always to help you qualify for first-day coverage or benefits.

Common Guaranteed Issue Whole Life 2-year waiting period companies:

• AIG
• American National
• Colonial Penn
• Gerber Life
• Great Western
• Lincoln Heritage (watch out for their 3-year wait plans…yikes!)
• Mutual of Omaha

THE $9.95 “PER UNIT” MYTH

Colonial Penn offers $9.95 plans…but for how much coverage?

• If you are a 73-year-old man, $9.95 will buy you $620 in coverage…with a 2-year waiting period to suffer through!

• If you are a 73-year-old woman, $9.95 will buy you $880 in coverage…with a 2-year waiting period to suffer through!

Be cautious of ANY company that offers “teaser rates” or “bait at switch” rates that seem too good to be true.

Here is the actual Colonial Penn pricing on a per-unit basis. (remember, you can only buy a maximum of 8 units total!)

ADDITIONAL RIDERS AVAILABLE

Some companies offer riders at an additional cost, and some companies offer riders that are free of charge. The companies with the most riders are not always the best when considering pricing and coverage options.

Here are some rider-specific features:

• Terminal Illness – included at no extra cost
• Nursing Home Confinement – included at no extra cost
• Accidental Death – additional fee to add to policy & often cancels at age 70
• Children Rider – additional fee to add to a policy
• Grandchildren Rider – additional fee to add to policy