If you or a loved one aren’t already covered by funeral insurance or another life insurance policy, now is the time to start shopping for one. If you don’t think you qualify for life insurance or are afraid that you can’t afford it, a burial policy can be a wonderful option; it is designed to be cheaper and to offer an easier application process.
Here at United Life Group, we work with many A-rated burial insurance companies, and we provide burial insurance for seniors and other individuals in multiple different states. One popular company that we work with is Royal Neighbors of America, and you might find that their funeral insurance is the perfect option for yourself or a loved one.
Plan Options from Royal Neighbors of America
This company actually offers two different burial policy options. The first is its Simplified Issue whole Life. This type of policy offers between $5,000 and $25,000 in coverage and is a cheap option for many seniors. The good thing about the Simplified Issue Whole Life policy is the fact that it pays out immediately at the time of death, and there is no waiting period.
For those who don’t qualify for the above-mentioned policy, there is another alternative. The Graded Death Benefit policy is another option for burial insurance for seniors. It comes with between $5,000 and $10,000 worth of coverage. If natural death occurs during the first year, 30 percent of the policy’s face value will be paid out to the individual’s beneficiary. If death occurs in the second year, 70 percent of the policy is paid out. During the third year and after, 100 percent of the policy’s face value is paid.
Different individuals qualify for different policies, but going through the application process can provide you with answers about the coverage that is available for you.
What are the Benefits of Choosing Royal Neighbors of America Burial Insurance?
There are plenty of reasons why many Americans count on Royal Neighbors burial insurance. Here are some of the many advantages of choosing one of its policies:
- Policies are available for individuals between the ages of 50 and 85.
- Face amounts range between $5,000 and $25,000. This money is paid directly to your beneficiaries at the time of your death to cover any final expenses.
- You don’t have to worry about outliving your policy because coverage is permanent.
- The rates are fixed for life and cannot be raised due to health or age.
- Royal Neighbors of America burial insurance is competitively priced for customers of all ages.
- No medical exam is required.
- These policies do build up a small cash value over time.
- Although there are some health-related questions, they are limited.
- You will not be asked about your height and weight during the health questionnaire.
- This organization operates as a non-profit.
- Royal Neighbors has an A.M. Best rating of A-.
Are There Any Disadvantages?
When looking at burial insurance quotes, it is important to look at the pros and cons of each company so that you can find the one that is right for you. Here are some things to consider before choosing a policy through this company:
- A paper application is required.
- A medical history check is required, but it is more limited than the questionnaires that are required by many other insurers.
How to Find the Best Policy for You
As you can see, Royal Neighbors has quite a few advantages and is a great option for many people who are seeking burial insurance quotes online. Here at United Life Group, we can help you get signed up for coverage through Royal Neighbors so that you can feel confident in knowing that you have a policy through a reputable company.
Before signing up for one of these policies, however, you may want to look for quotes online to find out what else is out there. Here at United Life Group, we actually work with several top-rated companies and can help you get quotes right here. For more information about the coverage that is available for you, try typing your ZIP code into the above field to see rates instantly.