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Are you doing your due diligence on Standard Life and Casualty Insurance Company? If so, you have hit the jackpot. In this Standard Life and Casualty burial insurance review, we unpack their whole burial insurance program. By the end of this piece, you should have a very good idea about whether or not they may be a good fit for you.
We break down our review articles into two segments. First, we give you a brief overview of the company via our quick review. The second part is the full review which is a thorough in depth analysis of their entire burial insurance program. If you want to know all about their underwriting, and policy options, the full review is what you are looking for then.
Our Quick Standard Life and Casualty Burial Insurance Review
Standard Life and Casualty Insurance is a solid burial insurance company. Their final expense plan is very competitive if you can qualify for it. As a company, Standard Life and Casualty Insurance is highly rated and well respected. They have a well balanced portfolio which means you can trust they will pay their claims. Sadly, this company has a very limited state offering. The mainly operate in on the east coast and throughout most of the southern states.
Standard Life and Casualty Insurance has only one burial insurance plan. It’s a straightforward accept or decline. There are no other options. Additionally, their underwriting is far more strict than most final expense companies. With this in mind, their rates are some of the lowest in the industry. They are renown as having some of the lowest burial insurance prices. If you can qualify, it’s a great value. Just make sure you read the application carefully.
Ultimately, they are wonderful company to deal with and their rates are bottom of the barrel. If you are medically eligible for their coverage, you should jump on it.
Based out of Rock Hill South Carolina, they have been in business over 60 years now. Standard Life and Casualty Insurance currently operates in 16 states. They mostly operate on the east coast and most of the southern states. Standard Life and Casualty Insurance has some of the strongest financials in the business. Their surplus of assets on hand is one of the highest in the business. Additionally, they offer health, critical illness, life, disability, cancer, and accident insurance. With that, this article will only be discussing their burial insurance program.
The Full Standard life and Casualty Review
Here you are going to find a total breakdown of their burial insurance plan. You are going to see detailed information about the underwriting, pricing, competitive anlalysis, and our take on their program. If you are looking to explore all the little details about their final expense insurance, this full review will give you just that.
Standard Life and Casualty’s “Secure Advantage”
Choice Mutual Grade= A
Quick facts about this plan:
- Coverage never expires
- Premiums never increase
- Benefits never decrease
- No waiting period
They call their final expense coverage Secure Advantage. It’s common for insurance companies to label their products. Therefore, this is no surprise. Browse our other company reviews. You will see just how regularly this occurs.
only one burial insurance option
Standard Life and Casualty Insurance Company only has one burial insurance plan. You either qualify for it, or you don’t. However, that is not necessarily a bad thing. Quite frankly, most final expense companies have different 2-3 versions of their plans. There will typically be a low, medium, and high option. In most cases, only one or two of their plans are even worth considering. In the end, Standard Life and Casualty Insurance Company has done a great job with their one plan.
How their final expense works
First of all, their burial insurance plans are whole life. As a result, you will find they are very easy to understand. Certainly they cannot expire regardless of your age. Furthermore, the payments cannot increase, and the benefits can’t decrease. They are truly that simple to understand.
Insider Tip: Be very aware of companies like AARP and Globe Life. They will try to sell you fake burial insurance plans. Their plans expire once you reach a certain age. In addition, the prices on their plans go up as you age. Of course, they somehow fail to tell people up front. Regardless of who you deal with, make sure you know how the plan works. If you have questions about this kind of stuff, call us or fill out the quote form. We are here to help.
Policy options & availability
You are eligible to apply for this coverage if you are 50-85. In addition, you can buy as little as $5,000 in protection. Your age determines your maximum face amount. If you are between 50-80, you can buy as much as $25,000. On the other hand, you can buy a maximum of $15,000 if you are 81-85.
As previously mentioned, Standard Life and Casualty Insurance Company only operates in select states. Presently, they offer their burial insurance in the following 16 states: AL, CO, FL, GA, IN, KY, LA, MS, MO, NV, NC, SC, SD, TN, TX, UT.
The Accidental death rider
The accidental death rider is the only rider available with Standard Life and Casualty Insurance Company. It does cost extra, but it’s relatively cheap. This rider will payout an additional death benefit if you pass away specifically because of an accident. You can only add this rider if you are 65 or younger. Furthermore, the additional you receive with this rider expires once you turn 70. Lastly, you can purchase no more than $10,000 in accidental death protection. Remember, this benefit will pay out in addition to your base benefit amount (if death is accidental).
what information they use to determine eligibility
Standard Life and Casualty Insurance Company has underwriting criteria that’s very similar to most burial insurance companies. Their risk analysis will take into consideration four separate things about you. First of all, there are your answers to the health questions. Then there is your height to weight ratio. Lastly, there is your prescription history and MIB file. They will analyze all this information to determine your eligibility.
No medical exam burial insurance
Their application process is pretty much the same as other companies. First, there is no physical or medical exam. At no point will anyone have to come to your home to draw blood or take a urine sample. In fact, this is an industry standard practice.
Standard Life and Casualty Insurance Company utilizes what’s called a point of sale interview as part of the application itself. Basically, the point of sale interview is a short phone call with the insurance company. On this call, they ask you the health questions, and obtain various authorizations from you. This will enable them to electronically review your medication history, and your MIB file. Will all this information, they can make a final underwriting decision. By the end of the call, they will give you an approval or decline.
The health questionnaire
When applying for any kind of life insurance, the first step is the health questionnaire. Above all else, this is the most significant step in the process. Your answers to the health questions do more to determine your eligibility than anything else.
As previously mentioned, Standard Life and Casualty Insurance Company only has one burial insurance option. You are either going to qualify, or you will not. Below are their health questions. If you have any of these conditions, you are not eligible. Furthermore, you must not have a prescription history that shows treatment for these conditions. If you do, they will decline you.
Here are all their health questions:
- Have you had, or been medically advised to have, an organ transplant, or have you been medically diagnosed as having a life expectancy of 12 months or less?
- Have you been medically treated or diagnosed as having Acquired Immune Deficiency Syndrome (AIDS), AIDS related complex (ARC), or any immune deficiency related disorder or tested positive for the Human Immunodeficiency Virus (HIV)?
- Are you currently: hospitalized, confined to a bed or nursing facility, or using oxygen equipment to assist in breathing, or receiving hospice care?
- Do you have any impairment, whether physical or mental, for which you need or receive assistance or supervision in performing normal activities of daily living such as dressing, eating, bathing, incontinence, toileting, taking medications, or moving without any type of physical assistance?
- In the last 6 months, have you been disabled or received disability compensation?
- Have you ever been medically diagnosed, treated or taken medication for:
- Alzheimer’s, dementia, mental incapacity, or organic brain syndrome?
- Schizophrenia, bipolar disorder, or psychosis?
- Lou Gehrig’s disease (ALS), Huntington’s disease?
- Congestive heart failure or cardiomyopathy?
- Chronic kidney (renal) failure, insufficiency or disease; or ever had kidney dialysis?
- Paralysis of two or more extremities?
- Liver failure or insufficiency?
- Within the past 60 months have you been treated by a member of the medical profession for: Insulin shock, diabetic coma, diabetic retinopathy, or hospitalized two or more times for any diabetic complications?
- Within the past 24 months, have you been confined more than twice to a hospital, nursing facility, convalescent care facility, assisted living facility, mental facility or hospice care?
- Within the past 24 months, have you been diagnosed with internal cancer or melanoma; or have you been diagnosed by a member of the medical profession as having more than one occurrence or any metastasis of any cancer in your life time (excluding basal cell or squamous cell skin cancer), or are you currently being treated for cancer or recurrence of cancer?
- Within the past 24 months have you:
- Been medically diagnosed, treated or taken medication for: angina, chronic hepatitis or hepatitis C, respiratory failure, cystic fibrosis, chronic obstructive pulmonary disease (COPD), pulmonary fibrosis, emphysema or used oxygen to assist breathing?
- Been diagnosed as having, been treated for or hospitalized for: heart attack, heart disease, heart or circulatory surgery (including pacemaker, by-pass, heart valve replacement, angioplasty, stent implant) any procedure to improve circulation to the heart or brain, or uncontrolled high blood pressure?
- Had a stroke, mini-stroke or transient ischemic attack (TIA)?
- Had Hodgkin’s disease, lymphoma, leukemia, cirrhosis, liver disease or systemic lupus (SLE)?
- Had any neuromuscular disease (including, but not limited to, cerebral palsy, multiple sclerosis, grand mal seizures) or Parkinson’s disease?
- Had an amputation caused by disease?
- In the past 10 years, have you been convicted of a felony or are you now on parole or probation?
- In the last 5 years have you been treated for, or been advised to have treatment for, or used alcohol in excess or any drugs of abuse; or have you been convicted of operating a vehicle while intoxicated or impaired, or had your driver’s license suspended or revoked; or attempted suicide?
- Have you been declined or postponed for life or health insurance in the past 12 months?
Don’t worry if some of these conditions apply to you
First, Standard Life and Casualty Insurance Company is literally just one of many final expense companies. If you do not qualify for this plan, don’t worry. For one thing, there is a really good chance we have access to another company that will take you with open arms.
Standard Life and Casualty Insurance Company’s underwriting on this plan is built to accept people in really good health. As such, there are many people who will not qualify for it. Standard Life and Casualty Insurance Company clearly only wants health business sent their way which is totally fine. However, if you are not one of them, there are dozens of other companies that have far more lax underwriting that you can apply with.
In fact, we’re able to secure an immediate benefit burial insurance plan for 90% of our customers. When one insurance company does not work for you, we simply take a look at the others. At the end of the day, we shop all the top burial insurance companies in the nation to find you which one will accept your health conditions, and give you the best price.
We can still help you if you don’t qualify for an immediate benefit. Ultimately, a guaranteed issue plan is there for you. Basically, guaranteed issue is a burial insurance policy with no health questions or medical checks. They literally just issue the policy. However, it does come with a two year waiting period, and it costs a bit more. We would try our best to qualify you for a plan with immediate benefits. It would be cheaper and it would offer instant protection. However, if that is not possible, we can always use Gerber Life for their guaranteed issue policy.
This is Immediate benefit burial insurance
If they approve you, your coverage is active in full on the very first day. There is no waiting period in any way. Again, you would need to say no to all the above health questions. Additionally, you must not have any medications in your history to suggest otherwise.
Is this final expense plan good or not?
This is a great final expense plan if you can qualify for it. Standard Life and Casualty Insurance Company is notorious for having some of the lowest prices in the business. Therefore, their underwriting is more restrictive than most companies. However, it’s understandable given their rates. All around, if you are healthy enough, they are a great burial insurance option.
They accept many common health issues seniors deal with
This burial insurance plan is built to accept many common health conditions that come with age. For the most part they will still approve you with the following conditions.
- High blood pressure
- High cholesterol
- Diabetic nerve problems
- Heart medications
- Blood thinners
Standard Life and Casualty Summary
Standard Life and Casualty Insurance Company has a fantastic burial insurance plan for people in really good health. Without question, their prices are some of the lowest in the industry. If you have a plan with them now, hold on to it. It will be hard to beat it.
If you cannot qualify for this plan, do not fret. There are dozens of other companies out there that can probably service you. Additionally, they don’t cost much more than Standard Life and Casualty Insurance Company. Quite frankly, most burial insurance companies have similar prices. The biggest disparity among the insurers is in their underwriting. More specifically, there is great diversity in underwriting right now. There is almost always a plan that accepts pretty much every health condition you can think of. It’s quite rare that we cannot find a company to cover whatever conditions you have.
In the end, if you need burial insurance, contact us. We are a highly experienced independent agency. Burial insurance is our specialty. In addition, you can count on us to always do what’s best for you and your family.
In conclusion, look no further if you are looking for peace of mind. Call us at 1-800-644-2926. On the other hand, we can call you. To do so, fill out the quote form, and we will be in touch ASAP.