Before looking at policies, decide what you want the insurance to accomplish.

Maybe you want to help cover:

• Funeral or cremation expenses
• Burial costs
• Medical or other final bills
• Credit cards or other debts
• Money you'd like your family to have available

Then consider any savings or life insurance you already have.

You may discover that you need less coverage than you originally thought.

The first thing I'd want to know is:

"How much is my beneficiary guaranteed to receive?"

That's more important than the number printed in a large advertisement.

Make sure you understand whether the full amount is guaranteed and whether there are circumstances that could result in a different benefit.

Some policies provide the full benefit immediately.

Others may have a graded or waiting-period benefit, particularly during the early years.

Ask:

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

Then ask about the second year.

Don't settle for simply being told that a policy has a "waiting period." Find out what the dollar benefit actually is.

Ask:

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

Then look beyond the first month's payment.

For example, a $60 monthly premium is:

$720 per year

$7,200 over 10 years

$14,400 over 20 years

That doesn't automatically mean the policy is a good or bad value.

It means you can now compare the cost over time with the benefit you're receiving.

Guaranteed-issue insurance can be useful for people who may have difficulty qualifying for other coverage.

But it isn't automatically the right choice for everyone.

If you're willing to answer health questions, you may have other options worth comparing.

That's why I believe your age and health should be considered before choosing the type of policy, rather than simply choosing the policy that advertises the easiest application.

Before buying, ask:

"What happens if I can no longer afford the premium?"

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

Knowing this ahead of time is much better than finding out after you've had the policy for several years.

The company behind the policy matters, too.

Make sure the insurer is authorized to sell insurance in your state, and consider its financial strength and reputation.

But don't stop there.

A financially strong company can still offer a policy that isn't the right fit for your situation.

The policy itself matters just as much.

Already have life insurance?

Don't automatically replace it.

Your existing policy may have benefits or guarantees that are difficult or expensive to replace at your current age.

Compare what you already have with anything being proposed before giving up existing coverage.

After you've looked at everything, ask the agent:

"Why is this particular policy a good fit for me, and what are the disadvantages?"

That question can tell you a lot.

You should get an answer that makes sense—not simply:

"Because it's the cheapest."

or

"Because you're guaranteed to qualify."

Choosing a good final expense policy isn't about finding a magic insurance company.

It's about matching the coverage, cost, guarantees and policy features to your particular situation.

That's where an experienced independent broker can be helpful.

Instead of trying to compare policies yourself, you can have someone explain the differences and help you understand what you're actually buying.

The goal isn't simply to find the lowest premium.

It's to find coverage that makes sense for you.

Want us to look at your situation and see what makes sense?

Call me, or request a quick Review.

Insurance products, availability, underwriting and policy terms vary by insurer, state and individual circumstances.