Simplified Issue Whole Life is a final expense life insurance solution designed to help families pay for the funeral expenses of their loved ones. This solution offers lower coverage limits for final expenses (up to $30k) and just a few underwriting questions, making it a great option for healthy seniors.
Simplified Issue Whole Life FAQ
- What type of insurance is this?
This is a Simplified Issuance Whole Life policy that is designed to help your loved
ones pay for final expenses. It offers life-long coverage that builds cash value. Your
premium remains the same for the life of the policy.
- This type of policy offers between How much coverage can I get?
$1k and $30k.
- Is there a physical exam?
Not at all. We want to ensure this process is as pain (and needle)-free as possible.
- How long am I covered?
Coverage is lifelong and does not expire.
- Is there a waiting period for the coverage to start?
With immediate benefits plans, your coverage is the full face amount of the policy
from the moment that your policy is issued. That means that for those with
moderate to no health issues, full coverage is available from day one. Up to $30,000
in coverage.
- How long until I’m covered?
Once you are approved and the first premium is processed, you are covered
immediately.
- What features or riders are available?
Accumulation of cash value – Over time your policy will begin to accrue cash value and
have loan value over time.
- Do premiums increase over time?
Your premiums are guaranteed to remain the same for the life of your policy.
Senior Life prides itself with paying claims within 24 hours of receiving the necessary
paperwork. You can use Senior Life’s online claim form to report a death. If you need
assistance, you can reach out to their claims department at (877) 777-8808, and one
of their claim’s representatives will guide you through the process.
- Who is the issuer of my policy?
Policies issued by Senior Life Insurance Company. Senior Life Insurance Company has been built from the ground up by agents and was recently named one of the top 9 fastest growing life insurance companies in America with assets under $1B. Since 2000, Senior Life’s goal has been to make it easy for consumers to purchase affordable final expense products hassle free, as well as to offer legendary customer service to their policyholders, agents, partners, and employees.
Advisory Services offered through MRA Advisory Group, a Registered Investment Adviser. This information was developed by Broadridge, an independent third party. It is general in nature, is not a complete statement of all information necessary for making an investment decision and is not a recommendation or a solicitation to buy or sell any security. Investments and strategies mentioned may not be suitable for all investors. Past performance is no guarantee of future results. Nothing herein, nor any attachment, shall be considered to constitute (i) an offer to sell, nor a solicitation of an offer to purchase, any security or (ii) tax or legal advice.