Final Expense Facts
Ages 50-85
What is the typical issue age range for most Final Expense products?
Pays additional monies for an death by accident
Accidental Death Benefit Rider
Underwriting style that uses yes/no questions along with medications and their use
Simplified Underwriting
Enough Cash for a Funeral
60% & 75%
Percentage typically advanced to agents upfront on Final Expense sales
Product type is designed to cover funeral, burial, or cremation costs
What is Final Expense
Allows children to be added for a small face amount of coverage
Child Rider
One of the following health condition is commonly acceptable for Final Expense Day 1 coverage:
Diabetes, ALS, or Dialysis?
Diabetes
Builds a lot of Cash Value Quickly and can make you our "own bank"
Indexed Universal Life
$81
The monthly premium amount that should cause an agent to make sure they can afford the policy
Carrier offers Day 1 coverage for clients with COPD but no oxygen use
Cica & Am Am
Rider lets clients increase coverage in the future without proof of insurability
Guaranteed Insurability Rider
Kidney/Dialysis-friendly carrier
Cica
Multiply for Your Child
Jumping Juvenile
No Chargebacks except on Early Death Claims
Gerber
$50K
Maximum face amount typically available with Final Expense policies
Rider waives premium if the insured becomes totally disabled
Waiver of Premium Rider
Underwriting class for a client that takes insulin and has diabetic neuropathy
Return of Premium, Graded, Modified or Limited
Give it back!!
Return of Premium
50% Advance
Cica's Advance Amount
HIV or ARC
Almost always declined for Day 1 coverage across most carriers?
3 different living benefit riders that can accelerate a death benefit
Chronic Illness Rider, Critical Illness Rider, and Terminal Illness Rider
Underwriting Class that allows Day 1 coverage at several different price points
Substandard or Table Rated
New Each Year
Annual Renewable Term
Starts at 6 month, 7.1 months or 9 months
Paythrough or Backend