3 Things To Compare When Finding A Final Expense Insurance Policy

Written by Ross Quade Published: / Last updated:

In the process of trying to find a final expense insurance policy and wondering what the best way to compare your options is?

With so many options to choose from, how do you know which one is really the best one for you and your loved ones? After all, what may be the best policy for someone else might not be the best policy for you. From finances to final wishes, choosing a final expense policy is a highly personal matter.

Discover 3 of the most important things to keep when comparing final expense insurance policies.

1.) Compare Price

How much are you looking to spend on a policy? While you may not know the exact amount, consider an average or range. For example, what is the maximum amount you would be willing to spend on a policy? Remember, your goal should be to maximize your coverage with spending the least amount possible, without sacrificing quality.

SEE ALSO: Is Final Expense Affordable on a Fixed Income?

In addition, you will also want to consider how often you plan to pay these premiums. Premiums on policies can range from a monthly, quarterly or annual basis. What is the cheapest option? Policies can vary greatly depending upon the provider. Be sure to compare the total cost of the policy to get a more accurate understanding of the true cost of the policy.

2.) Compare Quality

Price should not be the only consideration that you keep in mind, though. While you should not aim to pay more than you have to, you also shouldn’t sacrifice quality either. Sure, some providers may look fantastic on paper, but at what cost? If you want to maximize the value of your policy and options, then you’re going to need to take into consideration the quality of the provider as well as the plan.

For example, what is the provider’s reputation? How fast do they process claims? A provider’s track history can be quite telling of the level of service you can expect. For example, a brand new provider may offer an incredible deal, but you may be more comfortable going with a well-known and highly reputable provider instead.

3.) Compare Level

In addition to the price and quality, you will also want to consider the level or amount of coverage you wish to obtain. Are you seeking a basic plan or looking for something a bit more substantial? Final expense plans can vary greatly, often ranging between $5,000 to $50,000 on average.

SEE ALSO: Getting Ready To Apply For Final Expense Insurance? Here’s What You Need To Know

With funeral and burial costs on the rise, how much coverage do you need? Consider the type of services you wish to have. For example, cremation costs are far lower than full-service funeral costs. In addition, you will also want to make sure that you account for the cost of inflation as well.

Now that you’re ready to compare policies, you may be wondering where to start first. While in the past you would have needed to track down every provider individually in order to make an informed decision, luckily that is not the case today.

As a burial comparison, FinalExpenseInsurance.com makes it easy to find the answers you need, regardless of health. No matter your age or condition, we can help.

Begin comparing quotes instantly by entering your zip code at the top of the page, or feel free to contact us.

About Prime Mutual
About Prime Mutual

Prime Mutual has been helping seniors compare the best final expense insurance companies throughout the United States since 2016. We believe in educating our clients, building trust, and assisting them plan for end of life expenses. With a growing population of seniors in retirement, it is more important than ever to have a financial plan in place to help struggling families honor their loved ones.

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