The first question to ask is:

“How much is my beneficiary guaranteed to receive?”

Don’t focus only on the amount shown in an advertisement or sales presentation.

Find out exactly how much the policy guarantees and whether the full benefit is available from the beginning.

This is one of the most important things to understand. Some policies provide the full death benefit immediately. Others may have a waiting or graded-benefit period, particularly during the first few years.

Ask:

“If I die during the first year, exactly how much will my beneficiary receive?”

Then ask about the second and third years. A policy that costs less each month may have a different early-death benefit. That difference matters.

Ask:

“Is this premium guaranteed to stay the same for the life of the policy?”

You want to understand what you’re committing to—not just what the first month’s payment will be.

Here’s a hypothetical example of a 65-year-old female looking for $15,000 in coverage.

Suppose two carriers offered the following:

Hypothetical example only — these are not actual quotes.

At first glance, Plan B looks better because it’s $15 less per month. But Plan B has a graded benefit during the first two years, while Plan A provides the full $15,000 benefit immediately.

So which one is actually better? That’s the problem. The cheapest policy isn’t necessarily the best policy.

There can be important differences that aren’t obvious from a TV ad or a monthly premium. That’s why having an experienced independent broker compare the options can be so valuable.

A monthly premium can make a policy sound inexpensive.

For example:

$65 per month = $780 per year

Over 10 years:

$7,800

Over 20 years:

$15,600

Now you can start asking a more meaningful question:

“What am I paying over time for the coverage I’m getting?”

That’s a much better question than simply asking which policy has the lowest monthly payment.

Not every senior needs the same type of policy. Depending on your health, you may be able to qualify for a policy that asks health questions and may offer more favorable pricing or benefits.

Other policies may require little or no medical underwriting, but can have higher premiums or graded benefits.

Don’t assume that “no medical exam” or “guaranteed issue” automatically means it’s the best option.

You don’t necessarily need the largest policy available.

Think about what you want the insurance to accomplish:

• Funeral or cremation expenses
• Burial expenses
• Medical or other final bills
• Debts
• Money you’d like to leave your family

Then consider money you already have in savings or other life insurance.

The goal is not to buy the most insurance. The goal is to have enough coverage to accomplish what you want at a premium you can comfortably maintain.

Before buying, ask:

“What happens if I can no longer afford this premium?”

Depending on the policy, there may be cash value, surrender value, reduced benefits, or other provisions.

You should understand those options before you buy—not after you need them.

Before buying, ask:

“What happens if I can no longer afford this premium?”

Depending on the policy, there may be cash value, surrender value, reduced benefits, or other provisions.

You should understand those options before you buy—not after you need them.

This is where an independent broker can be useful.

Instead of showing you one company’s policy and telling you it’s the best, an independent broker may be able to compare policies from multiple insurers.

The goal should be:

“Which policy makes the most sense for this person?”

—not simply: “Which policy has the lowest price?”

Final expense insurance isn’t complicated because the insurance itself is mysterious. It’s complicated because two policies that look similar on the surface can have important differences underneath.

You don’t need to become an insurance expert to make a good decision.

You just need to know what questions to ask and what numbers to compare. That’s where I can help.

Lifeguard Insurance Services helps seniors understand and compare final expense insurance options, so they can make an informed decision—not simply buy the first or the cheapest policy they’re shown.

I’m Kal Reece, and I work with individuals and families to help them understand their options and find coverage that fits their needs, health and budget.

You just need to know what questions to ask and what numbers to compare. That’s where I can help.

Lifeguard Insurance Services helps seniors understand and compare final expense insurance options, so they can make an informed decision—not simply buy the first or the cheapest policy they’re shown.

I’m Kal Reece, and I work with individuals and families to help them understand their options and find coverage that fits their needs, health and budget.