USAA has been around since 1922, supporting active-duty and veteran military members and their families. New York Life is licensed in every state and has an A++ (Superior) rating from AM Best. The Chronic Care Rider, which protects against financial hardship if you become chronically ill, and the Living Benefits Rider, which allows you to access a portion of the death benefit to pay for care if you're terminally ill, are especially beneficial for seniors.
Accidental Death Benefit: gives extra payout if your death is ruled an accident. Living Benefits: can use a portion of benefits to pay for treatment or care if terminally ill. Chronic Care: protects against financial hardship if you become chronically ill. Option to Purchase Paid-up Additions: can purchase more coverage without an exam. Disability Waiver of Premium: premiums are waived in the event of a disability. Riders for the whole life policies include: Custom Whole Life Insurance: same as above, but pay premiums for as little as five years. Whole Life Insurance: guaranteed life insurance coverage and cash value. It offers two main types of whole life insurance available to age 90: To apply for coverage you can easily fill out a form on its website to get connected with a financial professional. New York Life was founded in 1845 and has been paying dividends every year since 1854. Transamerica is rated A (Excellent) by AM Best. Transamerica has the highest coverage amounts, as well as online quotes and applications, making it a strong choice for no-exam final expense policies.Īlthough it does not pay dividends on its whole life policies, Transamerica is licensed in all 50 states. The payout from final expense policies can cover outstanding medical bills, debts, and funeral arrangements. Child/Grandchild Rider: can provide coverage to eligible children/grandchildrenĪlthough finding a company that offers no exam whole life insurance policies can be difficult, many offer final expense policies without an exam. Accidental Death Benefit Rider: gives extra payout if your death is ruled an accident. There are two riders available for the Final Expense Solution Portfolio Insurance policy: Easy solution: for ages 18 to 80 (50 to 75 in New York). 10-pay solution: for ages 0 to 85, paid up in 10 years. Immediate solution: for ages 0 to 85, paid up at age 121. The Final Expense Solution Portfolio has three different options: The company offers three final expense policies, including a Final Expense Solution Portfolio life insurance policy with a benefit amount of $1,000 to $50,000 for those ages 0 to 85. In 1999, Transamerica became part of Aegon N.V., but still does business in the U.S. 
Transamerica was taken over by Bank of America in 1930 and split from that company in 1956. AM Best was founded in 1899 and gives an independent and objective opinion on a company’s creditworthiness and financial strength. Northwestern Mutual is rated A++ (Superior) by AM Best.
Accelerated Care Benefit: helps cover potential long-term care costs in futureĪlthough you can’t get a quote or purchase a policy directly online, working with a representative may ensure you get the right type and amount of coverage needed. Additional Purchase Benefit: ability to purchase additional coverage. Waiver of Premium: ability to waive premiums if you become disabled or ill. Policies can be issued to those ages 18 to 80, with a selection of riders to add on and customize each policy. Cash value benefits, including the ability to borrow against. Typically used to transfer wealth to heirs. Covers two people and only pays out to beneficiaries when both insureds have died. Start with what you can afford and gradually shift more coverage to whole, if desired. Can add on riders, such as accelerated care benefit and waiver of premium for disability. 
Allows you to customize part of your insurance to be temporary and the rest permanent. It also offers a combined term and whole life product, called Whole Life Plus, as well as a Survivorship Whole Life plan. After you are done paying premiums your coverage remains. With the 65 Life, you pay premiums until age 65, and with the 90 Life, you pay premiums until age 90. Northwestern Mutual has two main whole life policy options: the 65 Life and 90 Life. It also offers a combined term and whole life plan, called the Whole Life Plus, which is the only one of its kind, and it has a long history of paying dividends on its whole life policies. As a top-rated financial services and insurance company, Northwestern Mutual has two different whole life insurance plans to choose from. Northwestern Mutual was founded in Milwaukee, Wisconsin in 1857.
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