The purchase of whole life insurance online can present certain challenges for both the consumer and insurance agent looking to achieve that individual’s goals of protection. While this financial product offers many different options and plans, one very simple fit for both is structuring a small whole life insurance plan for funeral costs.

 

Many of my clients are people looking to secure a small amount of whole life insurance to offset the costs associated with their funeral so that their family members will not need to shoulder the costs. In most cases, a person will purchase a $25,000.00 policy that will provide an initial death benefit to cover those costs and continue to grow each year with an annual payment that, in most cases, can be as low as $500.00.

Furthermore, many clients also attach an option which allows them to purchase a guaranteed amount of additional insurance later in time without any further medical underwriting. This is certainly common with a person looking to leave a small tax-free gift to their respective family members.

Obtaining such an insurance policy was tailor made for the internet. Rather than meeting with an agent or broker in their office for an hour where they most likely will try to ‘up-sell’ you with more coverage an options than you need, applying online through an online site couldn’t be easier. You can obtain a free quote from a reputable, secure online site with solid financial ratings and complete the underwriting process without leaving your home. The application in most cases can be taken over the phone with the agent or completed on your end at another time convenient to your schedule.

If you are looking to obtain a small amount of guaranteed permanent insurance for funeral costs, search online for a collection of quotes and consider applying online. The underwriting process generally takes about 4 weeks and will provide you the convenience and privacy without an agent trying to push you into a whole life policy you DON’T need.