This is a solicitation for insurance. Not affiliated with or endorsed by Medicare or any government agency. We do not offer every plan available in your area. Currently we represent 11 organizations which offer 102 products in your area. Please contact Medicare.gov, 1‑800‑MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
Final expense life insurance can be used by the beneficiary designated as needed rather than being limited to specific funeral services and providers. Final expense life policies will have a lower face value than most traditional term or whole life policies as they are intended for a specific purpose of covering those final costs rather than providing comprehensive support for surviving family members. This type of policy generally doesn’t require a medical exam, but premiums will be higher the older you are, and some benefit payouts may be limited during the first few years of coverage for those with significant health issues. Reducing or skipping premium payments will impact the amount of interest paid and may impact how long the policy lasts. Accessing the cash value of a policy will reduce the available cash surrender value and the death benefit. Policy guarantees are based upon the claims-paying ability of the issuing life insurance company. When choosing a life product, make sure that life insurance needs are met long-term, especially if personal situations change — for example, marriage, birth of a child or job promotion. Weigh the costs of the policy, and understand that life insurance, and long-term care coverage linked to life insurance through riders, has fees and charges that vary with sex, health, age and tobacco use. Riders that customize a policy to fit individual needs typically carry an additional charge. The payment of long-term care rider benefits, as an acceleration of the death benefit, will reduce both the death benefit and cash surrender values of the life policy. Additionally, policy loans and withdrawals will also reduce both the cash value and the death benefit. Care should be taken to make sure that life insurance needs continue to be met even if the rider pays out in full, or after money is taken from the life policy. There is no guarantee that a rider will cover the entire cost for all of the insured’s long-term care, as this may vary with the needs of each insured. Reducing or skipping premium payments will impact the amount of interest paid and may impact how long the policy lasts. Accessing the cash value of a policy will reduce the available cash surrender value and the death benefit. A policy owner does not have the ability to make unlimited payments into the policy. If too much is paid into the policy, it will become a Modified Endowment Contract (MEC) and withdrawals and loans will be taxable. Policy guarantees are based upon the claims-paying ability of the issuing life insurance company. Interest and other guarantees in an annuity are subject to the claims-paying ability and financial strength of the insurance carrier that issues the product. Annuities are long-term vehicles. Many have surrender charges over many years, and withdrawals from an annuity prior to age 59 ½ may be subject to a 10% tax penalty.
