Whole Life Final Expense Plans Are Not "Apples To Apples". The only consistency between one and another is that premiums do not increase, benefits do not reduce, and the company can not cancel an insured's policy for any reason other than non-payment of premium. There are significant differences as to how everything else works. The minimum and maximum coverage amounts available, the time it takes to pay claims, qualifications to get approved, rates, riders, additional benefits, and claims pay-out history. Think about this, in 2019 the 2nd largest final expense company paid a little over $600,000 in claims for the year. The company I offer is the #1 largest and the top-rated final expense company in America, and we paid around $180,000,000 in claims. That is hard to believe, but based on my experience over the last 17 years (13 as a broker and the last 4 as with #1) I'm not surprised by this. In 2021 we paid over $280,000,000 and #2 paid less than $2,000,000. ...
- Why Most Seniors Choose Ohio Final Expenses -