You can get easy approval burial insurance in Oklahoma today! Not only is it easy approval, but the insurance is also affordable as well! This burial insurance in Oklahoma is within reach for many of the states residents!
Before we get into the costs of burial insurance and how to apply for coverage, let’s discuss what exactly is burial insurance in Oklahoma and how it works.
What is Burial Insurance In Oklahoma?
Burial insurance in Oklahoma, properly called final expense life insurance, is a small whole life insurance policy intended to cover your final expenses. Coverage amounts for this type of policy typically range anywhere between $2,500 and $50,000. Also, there is no medical exam when you apply for coverage.
That’s right, with these types of policies, there is no medical exam during the application process. These products offer what’s called “simplified underwriting.”
All you have to do is answer a few simple health questions when you apply! There is no need for a urine or blood sample or any medical records when you apply for coverage.
That’s one of the great things about burial insurance of final expense insurance in Oklahoma. Whether you have perfect health or you have health conditions, you may still qualify for coverage! For many folks, burial insurance makes it super-easy to qualify for coverage!
Also, when you apply, many companies today offer same-day approval! There is no need wo wait weeks or months before you know the outcome of your application.
Burial insurance rates are also very affordable. These policies offer low-cost affordable rates even for folks with health issues.
In addition, their great rates can be affordable for folks even if you are on a fixed income.
Overall, burial insurance in Oklahoma or final expense insurance can be a great product for many individuals.
With that being said, it is important to know differences in burial insurance products that are available to you. Now every final expense insurance product is created equal.
You will find that burial insurance products may offer one of the following three types of death benefit coverages – first day coverage, graded death benefit, and 2-year waiting period with return of premium.
Let’s discuss the differences in each of the three types of death benefit coverage as this is important.
Burial Insurance With A First Day Coverage Death Benefit
Burial Insurance or final expense insurance in Oklahoma with first day coverage will pay the death benefit whenever death occurs so long as the policy is issued and inforce.
Burial insurance with a first day coverage death benefit has no waiting period. A policy with a waiting period will typically not pay the full death benefit if you pass away within the first two years of the policy.
That’s why when considering burial insurance in Oklahoma, it is important to consider policies that offer first day coverage.
Burial insurance policies with first day coverage offers the security that your loved ones will receive full benefits, if you were to pass at any time.
With that being said, let’s look at another death benefit coverage that some burial insurance policies offer – the graded death benefit.
Burial Insurance With A Graded Death Benefit
Burial Insurance or final expense insurance with a graded death benefit pays only a partial death benefit if death occurs within the first 2 years of the policy. However, if death occurs after the first 2 years of the policy, the policy will pay 100% of the death benefit to your beneficiaries.
Now some burial insurance policies with a graded death benefit will only pay 100% of the death benefit in the first 2 years if death occurs due to accident. Otherwise, if death occurs by any other causes in the first 2 years, the policy will only pay a partial death benefit.
Also, with a policy that has graded death benefit, you may find that the partial death benefit offered in the first 2 years will increase incrementally.
For example, in death occurs in year 1, you will receive 50% of the death benefit and if death occurs in year 2, you would receive 75% of the death benefit.
Now burial insurance with a graded death benefit is typically easier to qualify for than a policy with first day coverage. These types of policies ask less health questions on the application compared to burial insurance with a first day coverage death benefit.
You should consider a policy with a graded death benefit if you are having difficulties qualifying for a policy with first day coverage due to your health.
It is typically the next best option for burial insurance coverage if you can’t qualify for a policy with first day coverage.
That being said let’s move on the last death benefit coverage offered with burial insurance or final expense insurance.
Burial Insurance With a 2-Year Waiting Period & Return of Premium
Now burial insurance with a 2-year waiting period and return of premium is pretty much a graded death benefit policy. However, instead of paying a partial death benefit if death occurs in the first 2 years, the policy will pay a return of your premium plus interest.
For example, the policy may pay a return of your premium plus 10% interest if death occurs in year 1 or year 2. However, if death occurs after year 2 is completed, the policy will pay 100% of your death benefit.
You will typically find this death benefit coverage associated with guaranteed issue products. Guaranteed issue products generally ask no health questions when you apply and approval is pretty much guaranteed.
These policies are great if you cannot qualify for burial insurance or final expense insurance with either a first day coverage death benefit or a graded death benefit.
A guaranteed issue product is generally your last option for burial insurance coverage if you cannot qualify due to health conditions.
Speaking of health conditions, let’s look at some of the health conditions that are accepted when applying for burial insurance coverage.
What Health Conditions Are Accepted For Burial Insurance In Oklahoma?
Health conditions and how it relates to burial insurance is very important. In order to qualify for burial insurance, you must answer some health questions.
For example, a burial insurance or final expense application may ask: ” In the past 5 years have you been diagnosed with cancer?”
Answering yes and no to such questions will help determine if you qualify for a burial insurance policy.
Also, as you may see, such questions may work in your favor if you are applying for burial insurance in Oklahoma. Let’s say you were diagnosed with cancer over 5 years ago and are cancer free.
You can still qualify for a policy as you are outside of the period of 5 years of diagnosis as the question asks you.
These simple health questions are what helps make burial insurance in Oklahoma easy to get approved.
That being said, here is a list of health conditions that may be accepted for a burial insurance policy in Oklahoma:
Cardiac Chest Pain
Basal Cell Skin Cancer
Black Lung Disease
Chronic Lung Disease
Chronic Obstructive Pulmonary Disease (COPD)
Chronic Respiratory Disorder
Drug Abuse/ Dependency
Peripheral Artery Disease
Peripheral Vascular Disease
Procedure For Brain Circulation
Transient Ischemic Attack
As you can see there are a lot of health conditions covered on this list. However, this list is not exhaustive and does not include every possible health condition.
Nevertheless, as you can see from the list, there are many conditions which you may have and still may possibly qualify for burial insurance in Oklahoma.
Now in Oklahoma, the leading causes of death according to the CDC (Centers For Disease Control and Prevention) are heart disease, cancer, and chronic lower respiratory disease.
Despite being the leading causes of death in Oklahoma, you may get burial insurance in Oklahoma even if you possessed one of these health conditions at some point and recovered.
This is just more proof that burial insurance is generally easy to qualify for a policy.
Before we move on, you must also know that the final expense insurance companies will also conduct a check of your prescription drug history.
This is done when you apply for coverage.
They use this information to determine any discrepancies in your health history.
That being said, lets discuss some of the best final expense insurance companies in Oklahoma.
Best Burial Insurance In Oklahoma
Now here are three of my favorite final expense companies in Oklahoma. They are Mutual of Omaha, Aetna CVS Health, and Guarantee Trust Life Insurance Company. These three companies are great for burial insurance in Oklahoma.
Now Mutual of Omaha is a well-known insurance company. They have been offering insurance for over 100 years and has an A+ (Superior) rating from AM Best. Their product is called “Living Promise.” Living Promise offers reliable benefits with affordable rates. If you are considering burial insurance in Oklahoma, you should take a look at Mutual of Omaha.
Another good company to get final expense insurance from is Aetna CVS Health. Aetna CVS Health comes with great brand recognition as they have offered insurance for almost 170 years. Aetna is generally known for its health insurance products. However, they also offer a solid final expense product.
Aetna CVS Health offers valuable coverage at a low-cost rates. They are also have an “A” (Excellent) rating from AM Best.
One other solid company to consider is Guarantee Trust Life Insurance Company. Guarantee Trust Life Insurance company has a unique product called “Life Select.” Life Select offers final expense coverage or home care coverage in the event you need it.
This product offers flexibility allowing the insured to receive home care if they become chronically ill or to pay off funeral costs. In addition to offering a remarkable, Guarantee Trust Life Insurance has a solid financial rating of “A-” from AM Best.
Now all in all these are three good companies to consider for burial insurance in Oklahoma. Any company you decide to go with for burial insurance in Oklahoma should be based on your personal needs.
That’s why it is important to work with an agent like myself to help guide you in your decision.
Let’s look at an example of how much final expense policy would cost to cover funeral expenses in Oklahoma.
Example – Cost of Burial Insurance To Cover Funeral Expenses in Oklahoma
Cost of living in the 50 states can vary from state to state. The state of Oklahoma ranks 2nd in states with the lowest cost of living. This is based on a survey conducted by Council for Community & Economic Research.
Therefore funeral expenses in Oklahoma are likely lower compared to other states. Nevertheless, it is still an expense for many individuals.
The average cost of a funeral in Oklahoma is $6,772.
Let’s say a 60 year old male and female couple wanted burial insurance to cover their funeral expenses.
It would cost the 60 year old male $31 a month and the 60 year old female $24 a month.
Those are great low cost rates! Someone on a fixed income may be able to afford burial insurance in Oklahoma!
Since we are talking about rates, let’s look at more sample rates for burial insurance in Oklahoma.
Sample Rates For Burial Insurance in Oklahoma
When folks are looking for burial insurance in Oklahoma, they often would like to know how much does it cost. Well. to help out my readers, I have provided some sample rates of coverage below.
The rates are based on your age, gender, and the amount of insurance you choose.
Let’s look at these great low-cost rates:
Sample Burial Insurance Rates In Oklahoma
As you can see, burial insurance in Oklahoma can be quite affordable. Now that you know how much burial insurance in Oklahoma may cost you, get a policy today!
You’re next step is to get a FREE personalized quote and start the application process !
Get Burial Insurance in Oklahoma Today!
Getting burial insurance of final expense insurance in Oklahoma is easier than you think. The process is simple. All you have to do is start by getting yourself a free quote. After receiving your quote, you can complete the entire application over the phone.
It’s that simple. This process is made even simpler when you work with an experienced agent as myself. I have over 10 years of experience in the insurance industry and I can help guide you to the companies that best fit your needs.
Whether you are looking for burial insurance coverage for yourself or burial insurance coverage for your parents, I can assist you.
So why wait? Get started to day by filling out the free quote form at the side of the screen now! You may also call me at (800) 498-3955 to start the process! I look forward to speaking with you!