Peace of Mind and Protection
You and Your Loved Ones Deserve
Don’t leave your loved ones with a financial burden they cannot bear. Life insurance helps you keep your promise to meet your financial needs when you can’t be there to provide it yourself. Leave your loved ones with cherished memories and the means to pay for your final expenses by applying for final expense insurance today.
Why do I need life insurance?
The death of a spouse or single parent often creates pain and suffering for survivors. All too often, hardships are increased with the financial burden that could have been reduced or eliminated with enough life insurance.
Sadly, 47 percent of all Americans – at least 122 million people – have NO life insurance coverage at all. This life insurance need was at one time estimated to be nearly $5 trillion and the number of uninsured individuals and households has only grown. Michael White’sbank Insurance & Investment Fee Income Report, 2001
Final Expense life insurance protects you and your loved ones against the financial hardships of your death. Life insurance can help pay for medical bills, legal fees, and funeral and burial expenses.
How much life insurance do I need?
The answer to this question depends on your situation. As you assess your current life insurance needs, think about the following reasons to own life insurance:
Major Expenses – One in five people who lose a spouse to terminal illness pay $10,000 or more in out of pocket medical expenses. Survivor Study, LIMRA international, 1999
Outstanding Debts –Rather than leave debts to your surviving spouse and family, you should have enough life insurance to pay credit card balances, medical bills, legal fees, and other debts.
Burial and Funeral Costs – Social Security only pays a death benefit of $255 www.socialsecurity.gov to qualifying individuals. Funeral costs are on the rise. The average funeral expense is estimated to be $7,323. 2006 National Funeral Directors Association General Price List Survey
How do I qualify for this life insurance?
Silver Premier Choice Whole Life insurance is available to seniors between the ages of 50 and 85. Specific height and weight restrictions apply.
Do I have to take a physical exam?
No physical exam is required. In order to see if you qualify for coverage, you only need complete an application with a licensed agent and participate in a brief telephone interview where you will provide answers to a short form statement of health presented to you.
Will my life insurance coverage ever be reduced?
Your life insurance coverage can never be reduced or canceled as long as premiums are paid.
Will my premiums ever increase?
Your premiums will never increase while coverage is in force.
Are life insurance death benefits taxable?
Life insurance death benefits received by a beneficiary are not subject to income tax according to current federal income tax laws. Consult your tax advisor.
Are there any exclusions?
The death benefit will not be paid if the insured’s death results from suicide, while sane or insane within two years* from the date of issue. Instead, the sum of premiums paid less the amount of any indebtedness on the date of death will be returned to the beneficiary. In addition, any increase in death benefit will not be paid if the insured’s death results from suicide, while same or insane, within two years of the date of issue for the increase in coverage. Instead, the benefit will be the previous death benefit amount plus the sum of the premiums paid on the increase in coverage.*
*One year in Colorado and North Dakota; in Missouri, benefits will be paid for all causes of death unless evidence shows suicide was intended at the time the policy was purchased. In North Dakota, the requirement of sane or insane does not apply and in Washington, this exclusion does not apply.
How can I contact 5Star Life Insurance Company to inquire about Final Expense Life Insurance?
Call us toll free at 1-800-776-2322, Mon – Fri, 8:30A.M. – 5:00P.M. Eastern.