Security National Life Burial Insurance Review

Written on August 2, 2016 by Choice Mutual

In this article, you are going to learn about Security National Life’s burial insurance program. As a matter of face, be sure to see our list of the best burial insurance companies. You will learn about both of their plans, how they underwrite them, and your options within each plan. Additionally, we provide our expert  professional opinion and recommendations. Ultimately, look no further if you are searching  for an in depth Security National Life burial insurance review.Security National Life Burial Insurance Review

If you just want to run some quotes to see which company will give you the best price, just fill out the quote form. You will see real prices from all the top final expense companies in the nation. An agent will follow up with you to answer all your questions and help you locate the best burial insurance plan possible.

A Choice Mutual review article always gives you two options. First, we offer you a quick review. Basically, this is a general overview about the company, their burial insurance plans, and our opinion of their whole program. If you don’t care about all the little details, you might prefer the quick version. On the other hand, we also have a very thorough and exhaustive review that covers everything. If you interested in learning about face amount options, health questions, underwriting information, etc this review is what you want.

 

Our Quick Security National Life Burial Insurance Review

For starters, Security National Life is a well respected highly rated insurance company. They are one of the few final expense companies that will issue new coverage up to age 90. Similarly, Aetna will issue new coverage up to age 89. Finally, Security National Life will allow you to pay with a direct express card if you have one.

Altogether, Security National Life has three different burial insurance plans. All of them are whole life insurance, so they won’t change or expire. In addition, two of their plans come with immediate protection. Only their graded plan comes with a two year waiting period.

To begin with, their preferred plan is great if you can qualify for it. It comes with a fair price relative to the their competitors. Like some final expense companies, they will look at how long you have been on medications when they make their decisions. This can be particularly helpful if you are on certain heart prescriptions or blood thinners.

Their standard plan is terrible. If you are taking insulin, they will place you in their standard plan. To be perfectly clear, nobody should ever take this plan. It’s a bad deal all around. At the end of the day, many other burial insurance companies will give you a far better rate if you are an insulin diabetic.

Their graded plan is a fantastic deal. There are many health situations where their graded plan is likely to be your best and cheapest option out there. It does come with a waiting period, but that is understandable considering the conditions the graded plan accepts.

Security National Life is a great company with a solid burial insurance program. To learn about every detail of the company and their burial insurance program, please read on.

 

Company Background

Security National Life is was founded back in 1965. Presently, they are based out of Salt Lake City Utah. Altogether, they have three main divisions in their overall business model. They deal with life insurance, funeral services and mortgage loans.

They may be a young company, but they are well respected in the final expense industry. As mentioned, they deal with much more than just burial insurance. With that, this article will only be discussing their burial insurance program.

Security National Life Burial Insurance Review

The Full Security National Life Review

The complete Security National Life burial insurance review is below. If you wish to learn about all the details, please read on. You will find a complete breakdown of each of their plans and how they work. We include all policy options, and our opinion of their underwriting.

 

Security National Life Insurance’s “Simple Security Plan”

Choice Mutual Grade= A

Quick facts about these plans

  • Coverage never expires
  • 3 plans available- 2 with a full immediate death benefit
  • The monthly premium cannot increase
  • The benefit will not decrease

3 distinct burial insurance plans

For starters, Security National Life calls their burial insurance the “Simple Security Plan. In total, Security National Life has three burial insurance plans. Ultimately, your health will decide which plan you qualify for if any. First, they have their preferred plan. This is their cheapest plan, and it comes with immediate protection. Second, they have their standard plan. This one is the second cheapest plan, and it too comes with first day coverage. Lastly, is their graded plan. This one costs the most, and has a waiting period.

 

So how does their burial insurance work?

These plans, like all final expense plans, are super easy to understand. First of all, it’s whole life insurance. Because of this, they cannot expire. In addition, the price cannot increase, and the benefits cannot decrease.

 

No riders available

Security National Life does not have any riders that you can add on to your policy. If you want to explore some sweet rider options, take a look at American Amicable.

 

Pay your final expense with a direct express cardSecurity National Life Burial Insurance Review

With Security National Life, you can pay for your burial insurance with your direct express card. This is quite rare. The overwhelming majority of final expense companies will not allow you to pay with the green direct express card. If you have no bank account, and all you have is the direct express card, Security National Life could be your saving grace. This is another company that will allow you to pay with your direct express card.

 

No Medical Exam Burial Insurance

To begin with, Security National Life doesn’t require any physical or medical exam as part of their application process. Furthermore, their underwriting process is a bit different than most companies. They do not utilize a point of sale interview at the time of the application. Basically, a point of sale interview (POS) is a three way call with you, your agent, and the insurance company. On the call, they ask you the health questions and check your prescription history. In most cases, companies that use a POS give you an instant decision regarding your eligibility. Since Security National Life does not do a POS, you have to wait for your approval. Generally speaking, it takes no more than a day to receive a decision. In the end, Security National Life will qualify you based on your answers to the health questions, your prescription history, and your MIB file.

As is the case with all burial insurance, the health questionnaire is the first step when applying. Your answers are easily the most significant factor regarding your eligibility. Below you will find Security National Life’s knockout questions. If you say yes to any of these questions, you are not eligible for any coverage. Furthermore, they will decline you if your MIB file or prescription history show traces of treatment for any of these conditions.

 

Here are the knockout questions:

  1. Are you now, or within the past 30 days been confined or treated in a hospital, nursing home, health care facility or in hospice care
  2. Do you currently have, been diagnosed with, or are you currently being treated for any tumors or cancers?
  3. Within the past 5 years have you received medical advice, treatment, been advised to have treatment or surgery, or taken medication for Alzheimer’s or organ transplant?
  4. Within the past 10 years have you tested positive for the Human Immunodeficiency Virus (HIV) or been diagnosed as having Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC), caused by the HIV infection?

 

Stay calm if you have any of these conditions…

First of all, there is one situation from this section where you could easily acquire coverage elsewhere. If the first knockout question applies to you, this company will almost certainly approve you. However, it’s going to be a bit trickier if you said yes to the other questions. In that case, we would get you a guaranteed issue burial insurance plan by Gerber Life.

It has no health questions and they do not check your medical history. They literally just issue the policy without asking you a single thing. For this reason, the policy does come with a two year waiting period. Every guaranteed issue policy has mandatory two year waiting period. Additionally, it does cost a bit more than policies with health questions. Although, this is understandable considering they are issuing the policy blind. As you can imagine, a guaranteed issue policy can attract some very unhealthy people. Again, if questions 2-4 apply to you, we can always help you get a plan with Gerber Life.

 

The Security National “Graded Plan”

Choice Mutual Grade= A

Quick facts about this plan

  • Coverage never expires
  • Has a waiting period
  • The monthly premium cannot increase
  • The benefit will not decrease

First of all, to be eligible for the graded plan, you must not have any of the knockout conditions. Next, if you have any of the following health issues, Security National Life will approve you for their graded plan.

Here are their Graded health questions:

  1. Within the past two years, have you received medical advice, treatment, been advised to have treatment or surgery, or taken medication for:
    • Angioplasty, stent implant, bypass surgery, heart valve surgery or pacemaker?
    • Any type of tumors or cancers?
    • ALS (Lou Gehrig’s disease), dementia, brain tumor, brain disorders or strokes of any kind?
    • Heart disease of any type, angina, heart attack, enlarged heart, congestive heart failure (CHF) or other heart disorders or conditions?
    • Lung disease, emphysema, or chronic obstructive pulmonary disease (COPD)? Or any type of other pulmonary disease or condition?
    • Kidney disease or failure, renal failure or insufficiency, liver disease, hepatitis, cirrhosis, disease of the pancreas or other organ failure or disease?
    • Parkinson’s disease, paralysis, multiple sclerosis, lupus, muscular dystrophy, epilepsy, seizures or any other neurological disorders?
    • Diabetes with complications that could include eye disease or disorder, circulatory disorder, neuropathy, amputation, or take 100 units or more of insulin in a 24- hour period?
    • Paranoia, schizophrenia, bi-polar disorder, major depressive disorder, or any other mental disorder or disease?
    • Diagnosed, tested, treated for, or told that you abuse or use in excess: alcohol, drugs (including prescription drugs), narcotics or any other substance?
  2. Within the last two years, have you ever been advised by a medical professional to have tests, surgery, treatment, or additional medical evaluations that have not been performed, or do you have any medical test results pending?
  3. Do you use a medical appliance such as a wheelchair, walker or hospital bed, oxygen or do you need assistance or supervision by another individual with dressing, eating, personal hygiene (bathing or toilet), walking, or transferring to or from bed or chair?
  4. Within the past year have you had any application for life insurance declined or postponed for any reason?

 

3 strikes and you are not eligible for this burial insurance plan

First of all, if you say yes to three or more of these questions, you are not eligible for any coverage.

 

Standard waiting period for a final expense plan

This graded plan does come with a waiting period. In all states except Nevada and Arkansas, it lasts two years. Security National Life will refund 110% of your premiums if you pass away during this time. After the two years is up, your full death benefit is payable.

 

face amount options & age availability

First, you can apply for this plan if as long as you are 40-85. The minimum amount of coverage you can buy is $2,500. On the flip side, your age determines your maximum face amount. Below is a breakdown of the maximum face amounts by age.

  • Age 40-75: $25,000
  • Age 76-80: $15,000
  • Age 81-85: $10,000

 

circumstances where this burial insurance plan is a good option

The below circumstances are scenarios where this graded plan might be one of your best options. If you experienced any of these conditions, you will have to accept a waiting period from every company. Security National Life’s graded plan also has a waiting period. However, the reason why we are saying it’s possibly your best option is due to the price. Ultimately, the price for this graded plan is very likely going to be lower than your other options out there given these conditions.

  • Angioplasty, heart or circulatory surgery within the last 12 months
  • Cancers (not basal cell or squamous cell) within the last 24 months
  • Chest pains or a heart attack within the last 12 months
  • Alcohol or drug abuse within the last 12 months
  • Oxygen use (not for sleep apnea)
  • Congestive heart failure

 

When you really shouldn’t take this plan

Basically, this plan is a bad option if you have any of the leftover conditions from this section. Take a look again at the list above. If you have those health conditions, this plan is strong. On the flip side, everything else is a no go. In the end, you can get better pricing and immediate protection with other final expense companies for the remaining conditions. It’s a no brainer.

 

“Standard Plan” from Security National Life

Choice Mutual Grade= F

Quick facts about this plan

  • Coverage never expires
  • Coverage starts immediately
  • The monthly premium cannot increase
  • The benefit will not decrease

To begin with, to be eligible for this plan, you must not have any knockout or graded conditions. If you do, you can qualify for the standard plan. Below is the only health question for this section. If you say yes, then Security National Life will approve you for their graded plan.

 

Here is the standard health question:

  1. Do you use any type of insulin medication for any type of diabetes?

 

Immediate coverage burial insurance

This plan comes with first day coverage. There is no waiting period whatsoever. However, it really doesn’t matter because this plan is awful.

 

Policy face amount options and age restrictions

You can apply for this plan if you are 40-90 years old. Like the graded plan, you can buy no less than $2,500 in protection. In addition, your age determines your maximum face amount. Below is a breakdown of the face amount limits by age.

  • Age 40-75: $25,000
  • Age 76-80: $15,000
  • Age 81-90: $10,000

 

Don’t waste another second on this burial insurance plan.

Here’s the cold hard truth. This plan should not be purchased by anyone in any situation. Ultimately, many other final expense companies welcome insulin dependent diabetics with open arms. Royal Neighbors, Foresters and Mutual of Omaha are just a few, and there are many more. The bottom line is this. You can easily get a much cheaper price with so many other final expense companies.

 

The “Preferred Plan” option with Security National Life

Choice Mutual Grade= A

Quick facts about this plan

  • Coverage never expires
  • Coverage starts immediately
  • The monthly premium cannot increase
  • The benefit will not decrease

Above all else, you cannot have any of the conditions that appear on the application. Remember, you have pass certain checkpoints. You must say not to all the questions on the application. In addition, your prescription history and MIB file must show no evidence of treatment for any of the conditions that appear in the health questionnaire.

 

No waiting period final expense coverage

First of all, this plan has no waiting period whatsoever. You could pass away two days after your policy began, and Security National Life would still be willing to pay the claim.

 

face amount options & age availability

If you are between 40 and 90, you can apply for this plan. Like all other plans, you have to buy at least $2,500 in coverage. Furthermore, your age will dictate the maximum you may buy. Below is a list of face amount maximums by age.

  • Age 40-75: $35,000
  • Age 76-80: $15,000
  • Age 81-90: $10,000

 

How  is this burial insurance plan good?

For starters, the price for this coverage is competitive. Relative to other burial insurance companies, it’s a fair deal. You will notice they gladly accept basic ailments that come with age. These are things like hypertension, controlled diabetes (no insulin), arthritis, or cholesterol issues. Truthfully, all final expense companies accept these conditions.

Truth be told, there aren’t really underwriting niches where this plan stands out in a unique way. As long as you don’t have any of the conditions from the application, you can easily get this plan. If you do, you will have quality first day coverage at a fair price. That is more than can be said for a lot of companies. However, there are two key attributes about this plan that are worth giving special praise.

 

Final expense coverage for ages 86-90

Without question, it’s incredibly rare for any burial insurance company to accept people in this age range. If you are this old, Security National Life could be your new best friend.

 

They go by first fill when they check prescriptions

As previously mentioned, Security National Life will electronically review your prescription history as part of the application. They are going to look at what medication you are, and were on. Furthermore, they will look at when you first starting taking all your medications. If you have been taking a medication for two or more years, they will consider them maintenance drugs. However, if you first started taking the meds within the last two years, they will not place them in this category.

The end result of maintenance drugs is a lower price and better health rating. This practice is only done by certain final expense companies. For those that do it, you can get yourself better prices because of this practice. Foresters and Transamerica will assess your medication history the same way Security National Life does.

Security National Life Burial Insurance Review

Security National Review Summary

Security National Life’s burial insurance program has some quality options. For starters, if you qualify for their preferred plan, go for it. It has a good price that you can feel confident about. Additionally, their graded plan can be really strong in the situations we outlined. However, do not forget to avoid their standard plan. Stay far away from it.

In the end, we gave it a them an overall B rating for two reasons. First, they simply have too many conditions that force you into their graded plan. Many of their graded conditions are gladly accepted by many other insurance companies. Secondly, their standard plan for insulin dependent diabetics is a joke. We aren’t sure if they have looked at their competition lately, but they need to. The overwhelming majority of final expense companies do not impose a penalty for insulin usage. Together, these two reasons are why we cannot give them an A rating.

 

About the Choice Mutual Difference

Choice Mutual is the most trusted burial insurance resource on the web. Nowhere else will you find a more experienced and qualified agency to guide you on your search for final expense insurance. We are not a jack of all trades. For the last five years, we have focused only on burial insurance. We always have and always will be experts in this business. Finally, you might be wondering what sets us apart from the other companies. All in all, there are 3 key elements that make Choice Mutual uniquely qualified to serve your burial insurance needs.

  1. We are an independent agency. This independence is why we can freely represent all the top final expense companies in the nation. In the end, we shop all the companies for you, so you get the best deal possible on your burial insurance.
  2. We have a P.H.D. in burial insurance underwriting due to our vast experience exclusively in this business. This intimate familiarity of burial insurance underwriting enables us to know with virtual certainly which company will provide you with the best burial insurance plan based on your individual risk.
  3. We are truly committed to helping you secure the best burial insurance plan possible. We do not care which insurance company happens to be your best option. All we care about is doing what’s best for you and your family.

If you need help with burial insurance, we would love to earn your business. You can call us at 1-800-644-2926. If you prefer that we call you, just fill out the quote form. A licensed agent will be in touch shortly.

About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual works with all the top burial insurance companies throughout the nation to secure you the best price possible.

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