Are you a senior or baby boomer looking for life insurance coverage? You may have seen a television commercial recently from Select Advisor Final Expense about their life insurance product.
Their plan is designed specifically with seniors and baby boomers in mind.
But what exactly does this plan entail?
Is it really a life insurance company?
What are the policy sizes available?
To help answer these questions, we’ll review their TV commercial, provide answers to frequently asked questions about Select Advisor Final Expense – and discuss better options for those seeking final expense life insurance coverage.
Table of Contents:
- What Is the Select Advisor Final Expense Plan?
- Is Select Advisor Final Expense Plan a Life Insurance Company?
- Policy Sizes
- Review of the Select Advisor Final Expense TV Commercial
- Better Options for Seniors
- Frequently Asked Questions
- Next Steps
Select Advisor Final Expense
While there is limited information online, Select Advisor Final Expense, and its corresponding plan, is actually a solicitor for life insurance, focusing on advertising guaranteed issue life insurance to the senior population.
The best source of information disclosing who the organization is – happens to be found in the fine print of their television commercials:
Company provides customers an introduction to companies participating in our advertising programs. All plans are provided by third-parties unaffiliated with us, under terms and conditions arranged directly between the customer and those third-party entities.– Select Advisor Final Expense Life Insurance
In other words, Select Advisor Final Expense is merely a solicitor of insurance for life insurance companies who buy into their commercial programs.
Overview of the Plan
The Select Advisor Final Expense Plan provides describes an affordable way for seniors and baby boomers to find life insurance protection without having to undergo medical exams or answer lengthy questionnaires about their health history.
It offers coverage amounts of up to $30,000 depending on the age of the applicant. Premium payment options include annual, semi-annual or monthly payments.
Their “plan” is essentially describing various policy features that life insurance companies – who participate in their advertising – can provide.
Benefits of the Plan
Benefits of their plan, which is actually the features of various life insurance carriers, include:
- Guaranteed acceptance regardless of age or health status.
- Flexible premium payment options.
- No medical exam required.
- Quick approval process with same-day issue in most cases.
- Lifetime coverage.
- No rate increase.
- No benefit decrease.
Important – Numerous guaranteed issue life insurance policies exist outside of Select Advisor Final Expense solicitors.
Applicants must be under 85 years old at the time of application in order to qualify for coverage under this plan. Additionally, they must meet certain residency requirements and have a valid Social Security number.
Is Select Advisor Final Expense A Life Insurance Company?
Select Advisor Final Expense offers advertising for final expense and guaranteed issue life insurance products.
What Is The Policy Size?
The maximum coverage amount available depends on the age and budget of the applicant.
According to their commercials, the maximum amount of coverage offered is $30,000.
Typically, guaranteed issue life insurance policy sizes range from $2,000 – $40,000, but most companies cap coverage at $25,000 for guaranteed issue coverage.
Key Takeaway: The Select Advisor Final Expense Plan (a commercial for life insurance carriers) offers coverage of up to $30,000 and a variety of payment options.
Review of the Select Advisor Final Expense TV Commercial
The Select Advisor Final Expense TV commercial is an advertisement for life insurance coverage designed specifically for seniors and baby boomers.
The commercial focuses on the importance of having life insurance to protect loved ones from financial hardship in case of death or disability. It also emphasizes that their policies are affordable and they provide quality customer service.
The commercial does ask an important question:
If something were to happen to you, how would your loved ones pay for your funeral, final expenses, and other debts?– Select Advisor Final Expense
It highlights the importance of having life insurance coverage, especially for seniors and baby boomers who may not have other sources of income if something were to occur.
Additionally, it emphasizes that Select Advisor’s policies are affordable (all guaranteed policies are), which can be beneficial for those on a budget.
However, the commercial is vague about any additional benefits or riders available. It’s also vague about who is actually providing coverage.
It is important to do further research and compare quotes – beyond Select Advisors Final Expense – before making any decisions.
Better Options for Seniors and Baby Boomers Seeking Life Insurance Coverage
When it comes to life insurance, seniors and baby boomers should always comparison shop for the best coverage.
This means that while Select Advisor Final Expense may be a good start in terms of investigating guaranteed issue life insurance, or final expense, options, it’s just that – a starting point.
You want to look into other options before submitting a life insurance application.
There are a variety of companies offering different policies with varying premiums, coverage amounts, riders and benefits beyond those companies participating in Select Advisor Final Expense.
It’s important to research each company thoroughly before making a decision in order to get the most value for your money.
Working with an independent agent or brokerage firm is necessary as they have access to more competitive rates than those offered directly by insurers. Additionally, they can provide personalized advice tailored specifically to your needs and budget.
Advantages of working with an independent agent include:
- An independent agent or brokerage firm has access to more competitive rates than those offered directly by insurers due to their relationships with multiple carriers.
- They can help you find the best deal possible based on your individual circumstances and budget requirements without having any bias towards any particular insurer’s products or services.
- They provide personalized advice tailored specifically towards your needs that would not otherwise be available if dealing directly with an insurer’s representative.
- Independent agents are not limited by corporate guidelines when recommending policies that meet your specific goals and objectives in mind.
Seniors and baby boomers seeking life insurance coverage can benefit from comparison shopping for the best policy options available, as well as taking advantage of working with an independent agent or brokerage firm.
Key Takeaway: When selecting a life insurance policy, it is important to comparison shop for the best coverage and consider working with an independent agent or brokerage firm who can provide personalized advice tailored specifically to your needs.
Frequently Asked Questions
Here, you will find commonly asked questions and their detailed answers.
What is the average cost of final expense insurance?
The average cost of final expense insurance depends on a variety of factors, such as age, gender, sometimes health status and the amount of coverage desired.
Generally speaking, premiums for this type of policy are lower than other types of life insurance policies due to its limited death benefit. The average cost can range from $10 to hundreds of dollars per month depending on the individual’s circumstances.
It is important to shop around and compare quotes in order to find the best deal that fits your budget and needs.
What are the top guaranteed issue life insurance companies?
When researching the best companies that provide guaranteed issue life insurance, you will consistently come across three:
All three have been providing life insurance products for a long time and are known for their competitive rates, customer service, and financial stability.
Their guaranteed issue life Insurance policies offers coverage of up to $25,000 (Great Western offers more) with no medical exam or health questions required.
There is also a simplified underwriting process that makes it easy to apply and get approved quickly.
Is final expense life insurance worth it?
Yes, final expense life insurance – often through a guaranteed issue policy – is worth it.
Consider the following:
- It provides financial protection for your loved ones in the event of your death.
- Can help cover funeral costs or other expenses that may arise.
- Final expense policies are typically easier to qualify for than traditional life insurance policies.
- They are a great option for seniors and baby boomers who may have difficulty obtaining coverage elsewhere.
- Premiums tend to be lower than those associated with more comprehensive plans.
Ultimately, final expense life insurance is a valuable tool for providing peace of mind and financial security.
To recap, the Select Advisor Final Expense Plan is a means to advertise for final expense and guaranteed issue life insurance through television commercials.
While the commercial may have caught your attention, it’s important to review all of your options before making a decision on which life insurance plan is right for you.
With careful research and comparison shopping, you can find the select advisor final expense plan or another provider that meets your needs at an affordable price.
Are you looking for a way to protect your loved ones from the financial burden of final expenses? Guaranteed Issue Life Insurance provides affordable protection and peace of mind.
Our comprehensive education, quotes, and reviews provide you with all the information needed to make an informed decision about what coverage is best for you. Take action now and get guaranteed issue life insurance today.