Royal Neighbors of America

Why Royal Neighbors of America Final Expense (Simplified Issue Whole Life)?

Many families face unexpected expenses after the death of a loved one due to funeral costs, medical expenses, or possibly credit card bills.

Final expense insurance is permanent life insurance coverage designed to help cover these costs when the insured dies, easing the financial burden on loved ones. Preparing financially can help your clients alleviate some of their family’s stress in a time when they are grieving.

You may quote Simplified Issue Whole Life using Agent Access and Quick Quote.

Simplified Issue Whole Life Product Information

Face Amounts

Simplified Issue Whole Life: $5,000 - $25,000                    

Graded Death Benefit: $5,000 - $10,000 allowed at any time, subject to underwriting requirements

Issue Ages

• 50–85 (age last birthday)

Loans

• Certificate owners may borrow against the cash value of the certificate
• 8% interest rate in arrears; 6% in Montana
• Automatic premium loan option is available

Risk Classes

• Male/Female (premiums quoted for Montana application must use male rates for both male and female applicants)
• Tobacco/Non-Tobacco
• No Substandard
• No Preferred

Riders

Accelerated Living Benefit - Terminal Condition and Permanent Confinement (Form Series 1766)

• Rider available age 50-85
• Must be issued at the time of application
• No additional premium for the rider (in states where rider is approved)
• Qualifying Events:
• When the insured has been continuously confined to a nursing home for 90 days and the physician-certified confinement is expected to be permanent.
• When the insured is diagnosed by a physician as having a terminal condition and has a life expectancy of 12 months or less.
• Available on face amounts of $7,000 or more
• Up to 75% of eligible death benefit can be accelerated (minimum $5,000 maximum in aggregate of all certificates of $250,000) as a single payment
• An accelerated benefit payment is subject to an administrative fee and interest; review the rider for complete information and provisions
• Rider not available in all states; contractual provisions may vary by state.

State Availability

Check Product Approval Chart for details.

New to Final Expense Sales?

You've come to the right place!

Check out some of the following resources to learn more about how to sell final expense products.

[ARTICLE] Final Expense Insurance: Level, Graded, Modified, and GI (2nd Edition)

Watch a roleplay example of how a Life Insurance Review is done (with a focus on final expense in this example):

[WEBINAR!] How to Sell Final Expense Insurance: