This is a general guide, not an underwriting decision or medical advice — final approval and pricing depend on the carrier's review of your full application. Not affiliated with any government program. Jorge Castillo · NPN 4654668.
The four ways final expense gets underwritten
Whatever the quiz says, this is what the answers are sorting you into. Carriers differ, and the same health history can land differently at two companies, which is the whole reason an independent agent shops it rather than sending you to one.
Level benefit
The best outcome. Full coverage from day one, and the lowest cost per dollar of benefit. Generally for people whose health questions come back clean or close to it, with conditions that are managed and stable.
Graded benefit
Pays a partial benefit if death occurs in the first couple of years, then the full amount after. Usually offered when there is a more recent or more serious health event in the file. Costs more than level for the same benefit.
Modified benefit
Similar shape to graded, with a longer or steeper waiting period before the full benefit applies. Often the route when a condition is recent, or when treatment is ongoing.
Guaranteed issue
No health questions at all. Acceptance is guaranteed within the carrier's age limits, and there is a waiting period, typically two years, before the full benefit is payable. Accidental death is usually covered from day one. It is the most expensive per dollar and it exists for people the other tiers cannot reach, which is genuinely a lot of people.
Three things worth knowing before you apply
Being declined once does not mean declined forever. A decline is one carrier applying one set of rules on one day. Underwriting guidelines differ between companies and they change. If it has been a while, it is worth asking again.
Managed conditions are usually still coverable. High blood pressure, medication-controlled diabetes, a procedure years ago with a clean recovery. These stop many people from even asking, and they should not.
Nobody can tell you the outcome before the carrier does. This quiz gives you an honest read on where you would likely land, not a decision. Only the carrier's underwriting can approve a policy, and no agent should promise you a result or a timeline in advance.
Educational information for New York, New Jersey, Georgia and New Mexico residents; not affiliated with any government program. Tier names, waiting periods and age limits vary by carrier and by state. This is a solicitation for insurance. Jorge Castillo · Joram Castle Group · NPN 4654668.