Applying for life insurance can be intimidating, especially if you’re getting older and your health is declining. If you’re nervous about getting a medical exam and qualifying for a policy, you’re not alone.
Fortunately, there’s a life insurance policy that’s easy-to-obtain without a medical exam—it’s called simplified issue final expense insurance, also known as SIFE. This whole life policy offers a small death benefit, ideally used to help pay for a funeral, burial, or cremation costs. It’s fast and easy to apply for and can relieve the financial burden on your family when you pass away. Best of all, there’s no expiration date on the policy, meaning it lasts for the rest of your life (up to age 121).
Wondering why SIFE insurance may be important for you? We can explain. Here are four common reasons why you should purchase a SIFE insurance policy.
You can get coverage in just 10 minutes.
Most traditional life insurance policies require a full medical underwriting process, which can take 45 to 60 days, or even longer if actuaries need to request more information. On the other hand, obtaining a simplified issue final expense policy is fast. You can apply for and get an instant coverage decision in just 10 minutes. Plus, all of this can happen without the burden of a medical exam.
Sometimes, it’s nice to do things the easy way, without a lengthy application process. SIFE insurance is designed to do just that—it’s a simple way to protect your family fast. Within minutes, you can check life insurance off your to-do list.
With a SIFE Preferred policy, you can get higher benefit amounts.
Lumico offers SIFE Preferred, which is the same easy SIFE policy, but with higher death benefits. For example, someone between ages 40 and 60 can apply for a SIFE Preferred policy that offers up to $50,000 in coverage. You can read more about what SIFE Preferred coverage amount you may qualify for here.
Remember, a death benefit (also known as a face amount) can pay for more than you may realize. Not only does it pay for a funeral and burial, but it can also help cover:
- Childcare expenses
- End-of-life care and medical bills
- A casket or cremation
- Flowers and catering
- Outstanding debt
- And much more
If you’re like most people, you don’t want to burden your family after you pass away. This is where simplified issue final expense insurance, and especially a preferred policy, can help. It’s an easy and fast way to secure sizeable coverage that fully protects your loved ones.
There’s no medical exam required.
If you’re older or have significant health issues, it can be nerve wracking to apply for life insurance. Some people feel nervous visiting the doctor, while others may worry about qualifying for insurance.
Either way, a SIFE insurance policy can help relieve these fears. There’s no medical exam required—just a few, simple questions about your health in the life insurance application. You don’t need to schedule a trip to the doctor or organize a nurse’s visit at your home. In short, it’s much less work and worry for you to manage.
Don’t hold back; getting a policy is actually easy.
When you think about getting life insurance, try not to feel overwhelmed. Policies like SIFE and SIFE Preferred make getting coverage very simple and fast. They’re ideal if you’re a senior, and even if you’re dealing with health issues. Plus, they don’t put you through a time-consuming application process or make you wait weeks before starting coverage.
If you’re interested in learning about our SIFE and SIFE Preferred insurance policies, talk to us today. They may be the option you need to get insured fast and enjoy the peace of mind you’ve been waiting for.