Pre-Need Funeral Planning*
Pre-need Funeral Planning policies are designed for the funding of pre-arranged funerals. Policies have an increasing death benefit; therefore, when using a “Preneed” funeral funding policies you are assured there will be enough funds to pay for your funeral in the future, regardless of how much funeral prices increase when you purchase a guaranteed funeral. Preneed policies may be Medicaid exempt, when you are faced with applying for medical assistance. Your preneed policy or the value of that policy cannot be taken away.
Single Premium Details
Designed for persons who wish to pre-pay their funeral in full. This is a guaranteed issued product. There are NO health questions to be answered. This product is used primarily for "spend-down" situations when applying for Medicaid. The minimum amount available is $500 and the maximum amount is $25,000. This product is available for anyone ages 0-99.
Pay Plans
3-Pay, 5-Pay, and 10-Pay
Full Benefit or Graded Benefit
Full Benefit
Our multi-year Pay Plans may be selected for 3, 5, or 10 years. Only a few simple health questions need to be answered to qualify for our simplified issue, Full Benefit Payment Plans. You may select the Plan that best fits your budget. Regardless of which Plan you select, after your first payment the full benefit will be paid in the event of your death. Pay Plan premiums may be paid monthly (through electronic payments), semi-annually or annually. During the first 24 months of the policy, you may exercise a “Pay-Up” option. After 24 months you may “Pay-Up” your Plan, however, there will be a minimal conversion charge. All plans are subject to a two-year contestability period.
Graded Benefit (Not Available in All States)
When applying for our Graded Benefit Plans there are no health questions. These Plans are designed for people who cannot qualify for our Full Benefit Plans because of recent health issues and are returning to good health. This Plan is NOT for imminent death situations. The premiums are the same as our Full Benefit Plans, however, only percentage of the death benefit is paid out until the grading period is completed.
The percentages are:
3-Pay
50% during year one
100% year two and beyond
5-Pay & 10-Pay
30% during year one
70% during year two
100% year three and beyond
Issue Ages by Plan
Single Premium Guarantee issue ................ 0 - 99
3-Pay Plan (Full Benefit and Graded) ............ 0 - 90
5-Pay Plan (Full Benefit and Graded) ............ 0 - 85
10-Pay Plan (Full Benefit and Graded) ........... 0 - 80
Minimums and Maximums
Single Premium.............................................. $500 - $25,000
All Premium Pay Plans.................................... $1,000 - $25,000
Maximum on any combination of Policies....... $25,000
Options and Riders
- Death Away From Rider available (in most states) and will automatically add $750 to the death benefit.
- Grandchild Rider available on all Plans to grandparents for unmarried grandchild(ren) ages 1 to 19, currently living with or dependent of parent, grandparent or legal guardian for primary support.
- Two Year early "Pay-Up" option on all Premium Pay Plans.
- A $500 minimum Single Premium Rider (down payment) available on all Premium Pay Plans.
* Information is used to show example of product, all policies have different guidelines per the applicant.
