non senior final expense.

[mswebb06]

Never!

 

[Newby]

I hate to sound crass, but do you think there might be some surreptitious thinking here-----like planning the perfect murder?

Hmmmmm...she's going to off her husband but that 1.5mil won't quite be enough to support her lavish lifestyle.

Better add another $15,000 FE to put her right in the sweet-spot financially.

 

[arnguy]

Never!

Just being humorous, but that is what happens to the mind from watching too many episodes of "48 Hour Mystery" on CBS TV.

 

[hjdinfl]

From what I read of the original question the wife recognizes that final expense is one slice of the insurance planning pie. They may have enough to pay off the mortgage with the term and maybe pay bills if there is group insurance through work but no funds to bury each other. Permanent whole life coverage works great here! The problem is that the $25,000 policy that is almost twice what they need to cover the funeral now may not be enough at 70 when someone dies. So do you go UL with an increasing death benefit?

 

[Greenhorn]

Great post on this new industry. I was reading about it in Senior Advisor.

 

[Winter_123]

From what I read of the original question the wife recognizes that final expense is one slice of the insurance planning pie. They may have enough to pay off the mortgage with the term and maybe pay bills if there is group insurance through work but no funds to bury each other. Permanent whole life coverage works great here! The problem is that the $25,000 policy that is almost twice what they need to cover the funeral now may not be enough at 70 when someone dies. So do you go UL with an increasing death benefit?

You have two questions in one going here. One is about who offers non-senior whole life. The other is about whether that will last over time or get eaten up with inflation. The client sounds like she is a little eccentric and may have her own ideas so all you can do is flop some things out and see if she salutes.

Mutual of Omaha has a whole life express product, simplified issue, up to 25,000, available to younger folks as well.

If she wants something that will keep up with inflation well into her later years, then she just needs to get a small univeral life policy and wire it so that the benefit is the cash value plus the face amount. Or something like that. She sounds a little wacky. I dont completely remember the original post but it sounded like she could already take care of final expenses with her original coverage and then just save some dollars over in annuity and name a beneficiary if she wanted to build a separate little pot over time. Obviously, an annuity is not insurance, but she has insurance and if she died sooner rather than later I dont think her heirs would come up short without the dinky final expense plan, unlike folks who have nothing else going.

My take anyway.

Winter