We feel the best feature of this policy are the graded benefits. Many comparable policies have a waiting period in which if death occurs (not as a result of an accident) during the first 2-3 years, the policy returns all premiums paid plus 6% (depending on the plan).
We think the graded death benefit of this policy allows for greater coverage during the first years of the plan.
The policy follows a streamlined underwriting approach utilizing third-party data to evaluate insurability.
Eligibility requirements include:
- Medical Information Bureau (MIB) – A consumer reporting agency that operates an information exchange on behalf of insurers
- Prescription history – A search of previously filled prescriptions which is compared to a proposed insured’s medical history noted on the application
Other traditional underwriting requirements, such as labs, exams, or attending physician statements are not required with this product.
Applications may route to manual underwriting in instances where there is inconsistent information from 3rd party data sources.
Financial payments for end of life expenses such as funeral and burial costs can be very expensive. TBLI Simplified Issue Final Expense insurance is a simple way for you to help lessen the burden on your family by ensuring they have the means to help cover these costs.
Get insured quickly and easily up to $15,000
Issue agents 50 – 80
Applicants receive an instant decision and immediate coverage in about ten minutes
Solutions tailored to the insurance needs of people age 50+
Selection of riders to add to or customize your coverage
No additional charges for monthly payments and no hidden policy fees
If death occurs (not as a result of an accident) during the first 3 policy years following the date of issue, the face amount payable will be as shown in the Policy Schedule
1st Year = 10% of Coverage Amount
2nd Policy Year = 25% of Coverage Amount
3rd Policy Year = 50% of Coverage Amount
If death occurs as a result of an accident, then the full Coverage Amount is eligible for payment.
If death occurs after policy year 3, then the full Coverage Amount is eligible for payment.
In order to be eligible for coverage, applicants must be either a U.S. Citizen or Permanent Resident (Green Card).
Available riders for Modified Final Expense