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Shopping for final expense life insurance in the Bluegrass state doesn’t have to be hard.
In fact, we have hundreds of Kentucky clients who found it to be much simpler than they originally thought it would be. Today, we are going to show you just how easy it is.
In this article, we’ll show you some important state specific data, talk about how burial insurance works, and give you a time tested formula to always find the best burial policy.
Article Quick Guide
- Leading Causes Of Death In KY
- Kentucky Life Expectancy
- The Free Look Period
- A Simple Breakdown Of How Burial Insurance Works
- Proven Formula To Find The Best Policy
- Why Choice Mutual Is Your Company
|Rank||Cause of Death||Total Deaths|
|3||Lower Respiratory Disease (COPD & Emphysema)||3,187|
The most common causes of death in KY really are no different than all the other states.
The health issues in that list above generally aren’t an issue. In most cases, we can find you a company(s) that will accept these conditions.
Even if you happen to have something very high risk such as Alzheimer’s, we still have companies that will issue you a new policy.
In the end, we can cover anyone!
Presently, KY ranks 45th in the nation for life expectancy. The average Kentucky resident lives to be exactly 76 years old.
Here’s the deal with this statistic
Just because KY residents rank low in the nation for average life span does not mean that you will pay more for your final expense life insurance. The rate you pay will be the same as someone in any other state.
Having said that, whatever your current age is, you need to act now. We say this because rates go up with age. Furthermore, with age comes illness which can further increase you rates.
In the end, your burial insurance policy will never be cheaper than it is today.
The free look period in Kentucky last 10 days. During this time, you can refuse your insurance contract for any reason. If you had paid any money, you will be entitled to a full refund.
If you do decide to return your policy, the insurer cannot stop you. They have to comply with your request. The free look period entitles you to this option.
Beyond the free look period, you can still cancel a life insurance policy anytime you please. No company can lock you into a contract to keep a policy for any period of time.
Sometimes it’s necessary or advantageous to replace your life insurance policy. Just know that you can do so anytime you like outside of the free look period.
If you do cancel a life insurance policy outside of a free look period, you will not get a refund of the premiums you paid.
You were insured while you had the coverage, and the insurer would have had to pay the claim had you passed away. It’s no different than car insurance. You don’t get a refund if you never used it. You were insured the whole time and that is what you were paying for.
If you have questions about the free look period, check with your state department of insurance.
Many of our clients come to us not knowing exactly how a burial policy works. It’s understandable given all the misinformation online about this subject.
So let’s clear the air
First of all, burial insurance is life insurance. It’s just a specific type of life insurance. They are always a smaller face value very relaxed underwriting whole life policy. Because they are whole life, you can expect these policies to function in the following way:
- The monthly payments will never change
- The death benefit will never change
- The policy will never expire at any age
You will hear burial insurance also be referred to as “final expense insurance” or “funeral insurance”.
The whole concept is very simple.
You take out your policy which protects you forever. When you pass away, it pays out cold hard cash tax free directly to your family. This gives them the money needed to cover your funeral costs.
If there is any money left over, its stays with your family.
They Are Built To Get You Approved
The most notable feature to final expense policies is the underwriting. These plans were designed to accept many major health issues. The insurance companies fully understand that some health issues naturally occur with age.
For this reason, the overwhelming majority of applicants are approved for a burial insurance policy.
Even for those who have super duper high risk conditions like AIDS or Alzheimer’s, there are policies that have no medical underwriting whatsoever.
No matter what, everyone can be approved for a burial insurance plan.
If you’ve made the decision that you want to the peace of mind that a funeral insurance policy provides, the next step is to get qualified.
So here’s the bottom line
You want to get the best policy at the best price right?
Of course you do! Everyone ones wants that.
So let’s discuss precisely how you can find it.
First, let’s clearly define what you are looking for.
- A policy that covers you as much as possible as soon as possible
- Look for a policy that is provided by a financially stable insurance company
- Get the best rate on the market
Do this to find just that…
To find the best burial insurance in Kentucky you need to work with an independent final expense agency that represents at least 10 different insurance companies. They will shop around to ensure they find you which company will offer you the best deal based on your individual situation.
As you can see, your job is merely to find the right company to assist you with this. Obviously, we highly recommend Choice Mutual because this is all we do, and we work with over 15 different insurance companies.
Nevertheless, if you choose to work with a company other than us, just make sure they are independent. Also, make sure they focus on final expense insurance, and they represent at least 10 life insurance companies.
If you search online for burial insurance, there are a ton of websites that will sell you a policy.
But here’s the thing
They are not all the same. In truth, most of them are simply lead vendors. If you give them your information, they will merely sell your information to multiple companies. This will result in dozens of phone calls for weeks.
Additionally, the majority of burial insurance agencies only represent a few insurance companies at best. This gives you very little chance at getting the best deal.
Ultimately, you need a highly qualified and equipped company to help you with this.
Here’s why you should choose us…
- We only sell final expense life insurance, and we have been doing this for years. We fully believe in being total masters at this industry rather than being average at many. You are dealing with true experts when you call us.
- Our independent status allows us to represent multiple insurance companies. Presently, we have over 15 that we work with. Our goal is nothing more than to compare quotes to find which one will offer you the best deal.
- We have one objective and that’s YOU. Seriously, we only care about serving what’s in your best interest. We are not married to any particular insurance company. We will impartially evaluate your situation and recommend the funeral insurance company that will be your best fit.