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Finding a burial policy is the Empire State is easier than you might think.
In spite of New York’s incredibly high insurance regulations, there are still plenty of reputable life insurance companies in the state that offer affordable burial insurance.
Today, we are going to show you just how you can find the best policy in NY. You will be delighted to know that it’s easier than you might have thought 🙂
Article Quick Navigation Links
- Leading Causes Of Death In New York
- New York’s Life Expectancy
- The Free Look Period
- How A Final Expense Policy Works
- Simple Method To Find The Best Burial Insurance Plan
- How Choice Mutual Can Get You The Best Policy
Rank Cause of Death Total Deaths
1 Heart Disease 44,039
2 Cancer 35,738
3 Lower Respiratory Disease (COPD & Emphysema) 7,110
4 Accidents 5,927
5 Stroke 6,176
6 Alzheimer's Disease 2,556
7 Diabetes 4,094
8 Influenza/Pneumonia 4,892
Please don’t look at that list and think these health issues are insurable.
Here’s the deal
Most of those health issues are easily insurable! The only question is: Which company will accept these risks?
We have access to many companies, so we can likely find you one that will accept these conditions without imposing a waiting period.
However, there are some health situations where a waiting period cannot be avoided. For example, having Alzheimer’s or dementia is one of them.
No matter what, we can insure anyone regardless of their health, and most qualify for a policy that has no waiting period.
New York ranks very high in the nation regarding average life span. On average, a citizen of New York will live to be 80.5 years of age.
Their current rank is 6th in the entire USA.
Keep this in mind…
Life insurance rates are the same no matter which state you live in except for Montana (they have unisex rates).
In New York, the free look period must be at least 10 days, and no greater than 30 days. Every insurer will dictate their exact period, but again it must be between 10 & 30 days.
During this time, you can review your insurance contract and be free to refuse it for any reason. Furthermore, if you do decide to cancel it, you are entitled to a full refund of any monies paid.
The insurance company cannot stop you from cancelling, and they must return your money if you paid anything.
Free look periods basically entitle you to a refund of your premium if you decided to cancel. You can still cancel a life insurance contract after the free look period has ended. The only difference is you won’t get a return of any money.
There are many situations where it’s appropriate to replace a life insurance. Just know you can freely do so anytime even if it’s well beyond the initial free look period.
Just make sure that you are replacing for the right reasons.
To learn more about New York’s free look period, visit their website.
You may or may not be aware of this, but burial insurance is also frequently referred to as “final expense insurance” and “funeral insurance”.
Regardless of which term you see, all three labels refer to the same thing.
Ultimately, these are life insurance policies. They are just very specific types of life insurance.
Burial policies are always whole life insurance. For that reason, they come with the following benefits:
- Payments cannot increase
- Death benefits cannot decrease
- The policy cannot expire at any age
In the end, a final expense policy will quickly payout cold hard cash directly to your family so they have the funds to pay for your funeral.
This alleviates your loved ones from having to come out of their own pockets for your final expenses.
Underwriting That Is Incredibly Forgiving
By far the biggest and most amazing feature among funeral insurance policies is underwriting.
Here’s the bottom line
Final expense policies have underwriting that is designed to absorb the risk of many major health issues. This means that folks with health issues can still qualify for a policy. Whereas, with other more traditional types of life insurance, they would be declined ☹
It gets even better if you can believe it. There are even burial policies out there that have no health questions whatsoever. They guarantee approval for everyone.
Granted, these always come with a 24-month waiting period before the policy will pay out a death benefit.
They are usually a last resort and meant for folks who have very serious issues such as CHF, Alzheimer’s, or currently have cancer.
The overwhelming majority of applicants are able to qualify for a burial insurance plan with some company that has no waiting period.
Please never assume you won’t be approved because you likely can!
Look, it’s not rocket science.
You need to compare multiple offers if you truly want to find the best final expense policy.
But how do you do that?
First, you cannot buy these directly from the insurance companies. You must buy through an agent or agency.
This does not mean you pay more. The insurance companies just distribute their final expense insurance through agencies rather than managing an in-house sales force.
The key is to work with the right agency…
To find the best final expense insurance in New York, you must work with an independent agency that represents at least 10 different insurance companies.
An agency such as this will assess your health, so they can determine which burial insurance companies will accept your health conditions.
Then they will compare quotes from all these carriers to isolate which one(s) cover you the soonest and cost the least.
It’ just that simple. Just like when you go to the doctor for advice on your health, you are putting your faith in an agency that is equipped to advise you the topic of burial insurance.
There is no shortage of companies eager to take your business.
Here’s the deal
Not all agencies that sell burial insurance are the same. Most of them only represent a few companies. Some of them only represent one insurance company 😞.
We are different for three main reasons. It’s for these three reasons that we can boldly claim that Choice Mutual can help you find the best burial policy in a way no other agency can.
- We have a firm commitment to you. Our objective with each person is simple. It’s to match you with whichever company is truly best for you. We could care less which insurance company that happens to be.
- Our independent status allows us to represent lots of different insurance companies. This freedom to shop around and compare offers from multiple carriers is the biggest reason why we can ensure you will get the best policy.
- This is all we do, and we are true masters at it. For years we have done nothing but final expense insurance. We have a throughout understanding of how each insurance company underwrites. This knowledge is key to identifying which companies will accept you. Applying with a company that won’t accept you is a waste of your time, and very demoralizing. We get approvals because of our experience.
If you need burial insurance on your parents or yourself, call us today. We won’t put you through a sales pitch.
We’ll give you straight talk, and help you get the best deal out there.