We picked these five companies based on their financial standing, industry reputation, and easy-to-navigate application and claims practices. All of these are simplified issue policies. We avoided the guaranteed issue because we believe that you shouldn’t have to pay more in Helena, MT for the same insurance.
Transamerica is an excellent all-around player for final expense insurance. They cover many health conditions while offering a ride range of benefits.
They’ll issue between $1,000 and $50,000 depending on your age. Anyone 45 to 85 can apply. Their approval time ranges between 2 and 5 business days.
You can add an accidental death rider, which doubles the benefits paid.
Transamerica has an A+ from A.M. Best.
Phoenix offers a broader range of options with their final expense. It’s also a simplified issue policy with no medical exam.
It’s one of the only companies that will allow applications from people in their 30s. They also allow up to $100,000 in coverage for anyone 59 or younger. If you apply in your 60’s, you can get up to $75,000 in coverage. 70-80 years of age limit the high end to $50,000.
They offer 3 optional riders on the policy:
A.M. Best gives Phoenix a B rating. This is the lowest rating we recommend considering for something long term like life insurance.
Their final expense policy offers a face amount between $2,000 and $40,000. Anyone from 45 and 85 can apply. With a 3 business day turnaround, it’s a fast process. You can choose here between:
Mutual of Omaha has an A+ rating from AM Best.
We like Foresters Financial because they tend to have lower premiums across the board. They’re also remarkable with their final expense product by adding a cash value accumulation component. They offer policies to anyone between 50 and 85 years old. You can get between $2,000 and $35,000. Like Mutual of Omaha, you can choose what type of final expense policy you want: level benefits, graded benefits, or modified benefits.
Level benefits work like typical life insurance. You must answer no to all of the medical questions to qualify for this type. Graded and modified are slightly different versions of a waiting period - where they restrict benefits if the insured passes within the first 2 years of owning the policy. Modified will return all premiums paid plus 10% annual interest. Graded returns premiums paid with 4.5% yearly interest.
Foresters Financial maintains an A rating with A.M. Best.
We love that Americo’s final expense policies offer coverage for people with health conditions that might not otherwise qualify for simplified issue final expense - particularly lung-related diseases. These don’t even have waiting periods. Anyone between 50 and 85 years old can get $2,000 to $30,000 in coverage. The policies are simple, with no riders and no medical exams.
A.M. Best gives Americo an A rating on their financial stability.
The final important thing to consider for final expense is how much do you need in Helena, MT? The $10,000 average burial or cremation and funeral in the United States doesn’t account for regional differences.
You might be looking at a $7,000 average in a mid-west state versus a $15,000 average in cities with a super high cost of living.
Aside from regional costs, consider how much your Helena, MT region charges for the following:
We picked these five companies based on their financial standing, industry reputation, and easy-to-navigate application and claims practices. All of these are simplified issue policies. We avoided the guaranteed issue because we believe that you shouldn’t have to pay more for the same insurance in Helena, MT.