Life insurance can serve many purposes depending on where one may be in their lives. These different stages of life may be categorized by age, financial conditions or family status.  Health status also plays a vital role in the need for life insurance. Listed below are the different categories of life insurance offered by AFG.

Mortgage Protection – This type of insurance pays off the mortgage in the instance of an untimely death, provides disability income and accident coverage.

Term Insurance – This insurance is less expensive than whole life insurance, and will provide coverage ranging from 10 years up to 30years depending on the plan selected.

Whole Life – This type of insurance provides coverage for the life-time of the insured and may grow in value over time.  In most instances the insured may borrow against the policy if necessary.

Final Expense
The last thing most considerate people would want to do to their loved ones is saddle them with the humiliation of borrowing, begging, and arguing in an attempt to find the money to pay the final expenses of the deceased. This is a big concern of many seniors who are without life insurance, or who may be underinsured.

But funeral costs are on the rise, people are outliving their retirement, and money to buy additional life insurance just isn't there—not to mention the fact that health issues would keep many seniors out of the life insurance market.

Burial Insurance – also called "final expense" insurance is an alternative that has become more popular in recent years in spite of fears about scams and policies that could not be used.  With this type of life coverage there is generally no medical, health or physical exam required. And if purchased from a reputable company—with the proper provisions in place—burial insurance can take care of the final expenses so your family won't have to.

Burial insurance is simply a type of policy for which you pay a premium, and the benefit goes to the funeral home. The policies can be written in a variety of ways. For example, you can pre-select everything you want at your funeral, from type of casket, to service accessories, number of cars, and so forth. When you have made your selections, the funeral director can add all the costs for you. Usually you will receive some sort of guarantee that the costs will not exceed the face value of your policy. Also, you want to make sure the policy can be moved from one state to another in case you decide to relocate.

With another type of final expense policy, you simply choose a face value that you do not want your funeral to exceed. When you die, the benefit will go to the funeral director first. However, if the face value exceeds the actual cost at the time, any additional funds should go to a contingent beneficiary. It's something you have to ask about as many funeral directors will assume that they are to have the entire face amount regardless of costs unless your contract indicates something different.

Burial insurance is generally easy to get because the underwriting guidelines are more lenient than whole life or even Level Term. However, there will be some health questions. If your health is such that you cannot get whole life burial insurance, you can still get a graded benefit life. With the graded benefit, you must live two years before the entire face value will be paid. If you die in the first two years, your beneficiary receives the premium plus interest—except in the case of an accident whereupon he/she receives the entire face value. A graded benefit policy is a "guaranteed issue," meaning you cannot be turned down. It may be slightly more expensive than regular burial insurance, it is still be cheaper than traditional life insurance.

At AFG we are partnered with some of the best life insurance companies and products in the industry. Our agents are trained to find the most high quality, affordable plans available for each one of our clients. 

If you have life insurance needs we can help. To schedule an appointment with one of our highly qualified agents, call us today at 678-205-2763.