Understanding Suitability for Life Insurance

We believe there are four factors that can help guide you in making the right decision when deciding between a term, whole, universal, or variable life insurance policy. Those four factors begin with your plan. A plan is created to determine your appropriate or optimal coverage and protection as well as your management style andContinue reading “Understanding Suitability for Life Insurance”

Insurability

Insurability is the probability of mortality based on assumed risk, whereas in life insurance, the basis is the health condition of the proposed insured. Your probability of mortality is the likelihood that your health condition will shorten your life expectancy. Mortality experience is death itself. Underwriting is a confidential and private risk assessment taken byContinue reading “Insurability”

Why have people not purchased final expense insurance from you?

Here at Broadnax, we are transparent and want to provide our current and prospective clients with as much information as possible in order to make an informed purchasing decision. There are times when people decide not to purchase final expense insurance because it may be too expensive due to being simplified issue versus fully underwrittenContinue reading “Why have people not purchased final expense insurance from you?”

What types of final expense insurance are there?

Let’s recap. All insurance policies must be underwritten, either fully, partially, or not at all. We know that final expense insurance is partially underwritten, also meaning the policy is simplified issue. Within simplified issue insurance, there are benefit plans. Benefit plans determine if and when the designated beneficiary becomes eligible to receive the death benefitContinue reading “What types of final expense insurance are there?”

Why should I shop for final expense insurance with you?

Final expense insurance is normally marketed to middle-aged, elder, and senior adults with fair to good health. However, we offer final expense insurance to 10 applicant age groups that encompasses all ages for people of poor to excellent health. Our applicant age groups include infants 0 to 2 years old, toddlers 3 to 5 yearsContinue reading “Why should I shop for final expense insurance with you?”

What are your health risk classifications for your clients?

We group our clients into four health risk classes at time of application: excellent health, good health, fair health, and poor health. Excellent health means you have no health risks. Good health means you have one health risk. Fair health means you have two to three health risks. Poor health means you have four orContinue reading “What are your health risk classifications for your clients?”

What other options do I have available if final expense insurance is not right for me?

As you are aware, final expense insurance is more expensive and provides less coverage with a higher premium than traditional life insurance that is fully underwritten. Our company only offers insurance policies with accelerated underwriting that can be used to fund final expenses. However, there are four alternatives you can choose to fund final expensesContinue reading “What other options do I have available if final expense insurance is not right for me?”

Why have people purchased final expense insurance from you?

Loved ones also have their own lives to manage, so your untimely and unfortunate death can create a financial burden due to the lack of proper financial planning before your death. Therefore, the small death benefit of final expense insurance is a need to cover final expenses. Final expenses include the costs of the funeralContinue reading “Why have people purchased final expense insurance from you?”