Simple Burial Insurance
No Exam & No Waiting Period
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We work with individuals across the nation to secure the best life insurance rates.
WE SPECIALIZE IN BURIAL INSURANCE
Burial insurance is just like other life insurance in that the carrier is trying to make a profit by taking on a risk in exchange for payment. The carriers appetites for certain health risks like COPD, cancer, and insulin dependent diabetes are represented by their willingness or unwillingness to make an offer and the cost of the offer.
Final expense insurance is different from the term commercials you see on television that are geared for healthy 35 year old people. It is more expensive and it is for older people - often with serious health conditions. That being said, if you are in decent health, rates can be very affordable.
Now if you have COPD or are an insulin dependent diabetic, you don't need an insurance website to tell you it's a serious condition. The life insurance companies take it seriously also. In fact there are only a few carriers that will grant first day coverage with no waiting period to folks with either insulin dependent diabetes or COPD.
See, many carriers will consider diabetes or COPD as a "graded" condition. Graded policies pay a partial benefit during the first two years of the policy. Most graded options pay out 25-40% of the death benefit if you pass away during the first year. The second year of the policy will pay out 60-70% of the death benefit. After 2 years the full benefit will pay out.
So called "final expense" policies are no exam whole life policies that are generally very forgiving when it comes to qualifying guidelines. Being that they are whole life policies, you can be assured that :
NODLB.com Goes Through The application questions As part of Your Burial Insurance Quote
Unlike nearly all other brokers who give a meaningless quote prior to asking you any questions, just so they can get your email and phone number, we run through the actual application questions as part of the quote path. We do it this way so you know what type of policy you will qualify for. Then, the quote tool can help you to decide the amount of coverage and payment you are comfortable with.
It is only after you found out what you qualify for, what it will cost, and you are ready to move forward that we ask you to provide sensitive information. We do it this way because we don't want to bother you if you are not ready to get coverage. When you receive a call from an agent at NODLB.COM it will be to confirm the application answers and process the application.
While it is the case that "final expense" carriers are very lenient about your health, when it comes to certain conditions/ medications carriers are less forgiving. With a couple notable exceptions all insulin dependent diabetics and COPD cases will be offered graded coverage or worse . In this case "worse" is a modified plan that only pays out the premiums paid (plus interest) for 3 years. Modified plans generally don't make sense because you can get Guaranteed Issue coverage less expensively.
Now, evenn in the case of no exam carriers , you will need to meet certain requirements. These requirements are broken into four parts:
- 1Age & Build
- 2Application Questions Part 1
- 3Application Questions Part 2
- 4Prescription History
Okay, So Now I Know the Type of Coverage I Can Get Approved For. How Do I Apply?
If you you meet the requirements for Fist day coverage, simply fill out the quote form and hit Get Quote. The rate will be shown. You can try changing the amount of life insurance to comfortably fit your budget. Once you have a payment you are comfortable with, simply click the Apply Now button. This will lead you to an application where you answer the questions we just listed above and hit SUBMIT.
That's Great for Folks Who Qualify, But What If You Have A Condition And Can't Answer No to All The Questions?
Graded Coverage
Just because you don't qualify for First Day Full Coverage does not mean you don't qualify for good insurance.
If you answered NO to the questions in part one, but Yes to questions in part TWO . you will be able to qualify for a graded policy.
Depending on the carrier this will pay 30-40% of the benefit in year one, 60-70% in year two and the full benefit in year three.
The process is the same. You choose GRADED COVERAGE on the quote tool and and find a premium you find comfortable within your budget. At that point simply hit the Apply Now button. Fill out the application and SUBMIT.
Guaranteed Issue Policy
If you answered YES to any of questions in part , you will be offered guaranteed issue coverage.
Depending on the carrier these policies will return the premiums you paid plus interest in year one, 20-30% in year two,and 50-50% in year three. After three years the full benefit is available to be paid out.
The process is the same. You choose GUARANTEED ISSUE on the quote tool and and find a premium you feel comfortable with. At that point simply hit the Apply Now button. Fill out the application and SUBMIT
Carrier Phone Call , Pharmacy Report and And Voice Signature for All Burial Insurance.
Upon submitting your application you will be contacted by a licensed agent from to process your application. This will consist emailing disclosures and initiating a 3 way telephone call with a representative of the carrier. This call will go over the call will take 10-20 minutes , it will cover the questions you answered in the application as well as your pharmacy records and any MIB records( the MIB or Medical Information Board, is a repository for any record other life insurance companies have on you from previous applications).
In order to complete the interview successfully, you will provide the following:
Beneficiary Information
Drivers license number and expiration date
Social Security Number
Checking Account routing number and account number
The day of the month that you want your payment to be drawn
(If you are using a cell phone make sure you are charged up)
What's Is Voice Signature And How Does It Work?
Voice signature is simply the carrier using a third party verification service to interview and record your answers to the application questions. The recording serves as the carries record of your answers to application questions, acknowledgment that you have received the appropriate disclosures, and are aware of the provisions of the life insurance policy.
Once the interviewer has obtained your checking account information, completed the disclosures , and application questions (this can be a little tedious), she will step away from the call for 2-3 minutes and return with an underwriting answer. At this point it's time to celebrate- you are done with the process and you have life insurance. The policy will be mailed to you.
So you probably noticed there are very few carries from which to choose. This is for a few reasons:
- 1Most carriers will not insure some conditions at all, and even fewer will do "first day" Level coverage.
- 2There are have limited the carriers here to companies that will allow for "voice signature". We have done this to eliminate the technology issues faced by many people when trying to use the computer to sign the policy.
- 3We have only offered simple issue whole life policies. While we are aware that some term carriers will underwrite burial policies , they will not do so with no exam and voice signature.
What Makes NODLB.com Different?
In addition to being one of the few agencies in the country with a focus limited to burial insurance over the phone, we may also be the only agency that thoroughly qualifies you for a policy before throwing out a quote. That is different.
To Sum It All Up For You....