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Nobody wants to think about his or her death, but dying it is inevitable. As morbid as it is to think about, it’s important to plan for your passing. Not making the proper plans could leave your family with some difficult decisions and a sizable amount of debt and other final expenses.
When you’re shopping for insurance protection for your family, there are dozens of different factors that you’ll need to consider and hundreds of companies that you can choose from. It can be an overwhelming process trying to decide which plan is best for you and how does burial insurance work once its in place, but that’s why we are here. It’s our mission toe ensure that you’re getting the best insurance policy to meet your need. Perhaps you’re young or maybe needing burial insurance for seniors; whatever the case, we can help!
Metlife Burial Insurance – What You Need To Know
We know that you’re a busy person, and you don’t have time to sit around and compare dozens of life insurance companies, and because of that, we are giving you all the essential information as quickly as possible. It’s important that you have all of the correct facts when you’re shopping for burial insurance.
To wrap up the whole article in one sentence: Metlife is not going to be the best option for a burial insurance plan. While they are a quality company that has years of experience, their premiums are going to be much higher than other options on the market.
Aside from having one of the most recognizable spoke’s characters, Snoopy, MetLife has over 100 years of insurance experience. As a company, they have a unique background.
Metlife, Inc. was originally established as Metropolitan Life Insurance Company in 1868. Through the years, the company has gone through dozens of different changes, but they have continued to provide quality insurance through the years.
When the company was originally formed by a group of New York businessmen, the goal was to insure Civil War soldiers and sailors during wartime. In the 1870s, the president of the company brought industrial insurance programs to the United States (they were working in Great Britain before), and after that, the insurance company became a notable name in the insurance market.
Metlife offers several different kinds of insurance products that you can choose from when you’re shopping for insurance coverage. Metlife is almost a one-stop-shop for all of your insurance needs. They have dental plans, disability policies, auto insurance, homeowner’s insurance, critical illness insurance, and several other products. They offer just about any insurance plan that you could ever want.
As a company, they operate in the United States, Japan, Asia, Africa, and over 50 other countries. In those countries, they have over 90 million customers, which makes them one of the largest insurance companies on the market. Just because they are one of the most well-known companies, doesn’t mean that they are going to be the best option.
Metlife Burial Insurance
One of the dozens of products that they offer is a burial insurance plan. These policies are a great way for an applicant to get insurance coverage. Metlife offers a “Guaranteed Acceptance” whole life insurance policy that will give your family the insurance coverage that they need, but how does their plan stack up to the competitors?
The first thing that we are going to look at is the duration of the plan. Their burial insurance policy is whole life, which means that it’s never going to expire. As long as you continue to pay the monthly premiums for the plan, you’ll have burial insurance coverage. This is a unique factor what you’re looking at burial insurance, most plans are only temporary coverage and will only be active for a certain number of years. If you don’t want to worry about losing coverage in the future, then these plans could be an excellent option.
Another benefit to Metlife’s guaranteed acceptance policy is that the premiums are never going to increase, regardless of how long that you have the plan. Some companies are going to increase your premiums every year or five years, but Metlife locks in your rates the day that you buy the premium, and they are going to stay at that rate forever.
As you can imagine from the name, anyone can purchase one of these policies, regardless of health or any pre-existing conditions. A burial insurance plan doesn’t require a health exam, and they are not going to ask any health questions, which means that you won’t be declined for life insurance. With a traditional insurance policy, there is a chance that the company will decline your application, but everyone deserves to have the insurance that their family will need, and your health shouldn’t keep you from getting it.
Another component that you should take note of is the two-year waiting period that comes along with one of the Metlife final expense plans. With their plan, if you were to pass away within the first two years, then your family won’t get the face value of the policy. Instead, they would only get a return of the premiums that you’ve paid. After the two years has passed, your policy will operate as a traditional plan. These waiting periods are extremely common with burial insurance plans, and it’s rare that you will find a company that doesn’t attach a two-year waiting period to their plan.
The biggest disadvantage to Metlife’s final expense insurance is the rates. Metlife has quality insurance products and excellent customer services, but their premiums are going to be much higher than other companies. If you’re looking to get the cheapest final expense insurance policy, Metlife is not going to be the best option for you.
Is A Burial Insurance Plan Right For You?
It’s important that you have the proper insurance protection in place if something were to happen to you. Burial insurance coverage is an excellent option, but it’s a specialized policy that doesn’t work for everyone. If you didn’t have the right coverage, your family could be left with a massive amount of debt and other final expenses. There are several categories that you should consider when you’re trying to decide if a Metlife burial insurance policy is right for you.
The first thing to look at is your health. If you have several drastic pre-existing conditions, then these policies could be the only option, but you should only use these as a last resort. If you’ve been declined in the past, or have a condition like diabetes, there are still plenty of traditional insurance options that you can choose from. There are specialized insurance companies that work with high-risk companies and will offer you affordable coverage.
The next thing to look at is your debts and other expenses that you would leave behind to your family. The goal of a burial insurance policy is to give your family the money to cover any of your funeral expenses, but that may not be the only debts that you leave behind. If you still have major expenses like a mortgage or student loans, then you’ll need to apply for a traditional policy that gives more insurance protection.
Working With An Independent Agent
More than likely, Metlife funeral insurance is not going to be one of the best options for you, but don’t worry, there are hundreds of other options that you can choose from. The best way to compare all of your choices is to work with an independent insurance agent. Unlike a traditional agent, an independent agent work with dozens of highly rated companies across the nation and they can bring all of the best insurance rates directly to you.
Our experienced agents have years of experience working with all kinds of applicants, and we know which companies have the best funeral plans. Finding the perfect company could save you hundreds of dollars every year on your insurance coverage.
Not only can we help you find the lowest premiums, but we can also ensure that you’re getting the right kind of insurance plan for your family. We can walk you through the decision-making process. We know that it can be an overwhelming process trying to decide which plan is going to meet your needs, but that’s why we are here to help.
Metlife And Burial Insurance
As a company, Metlife offers quality insurance plans, but for anyone that is looking to get a burial insurance plan, we suggest looking elsewhere for coverage. You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance coverage that your family deserves. If something tragic were to happen to you, and you didn’t have coverage, your family could be left with thousands and thousands of dollars of debt. Losing a loved one is never easy, but having financial struggles is going to make the situation that much worse.
If you have any questions about burial insurance or Metlife, please contact one of our agents today. We would be happy to answer those questions and connect you with the best plan to meet your needs. Don’t wait another day to get the process started.