Royal Neighbors of America Final Expense Review: 2024 Update
Posted in Companies last updated on December 4, 2023
Are you a senior looking for an insurance policy that meets your specific needs? If so, then Royal Neighbors of America Final Expense might be a good option.
Here, we uncover the benefits, cost and application process associated with this particular policy.
We’ll also provide an overview of what makes it such a great option for seniors over 50 years old who are seeking coverage in areas like final expense. So let’s dive into our Royal Neighbors of America final expense review to learn more about why this is one product worth considering.
Table of Contents:
- Overview of Royal Neighbors of America Final Expense
- Benefits of Royal Neighbors Final Expense Policy
- Cost of Royal Neighbors Final Expense Policy
- How to Apply for Royal Neighbors Final Expense Policy
- Frequently Asked Questions
- Next Steps
Overview of Royal Neighbors of America Final Expense
Royal Neighbors of America is a life insurance provider that specializes in providing final expense policies to seniors over the age of 50.
Final expense policies, also known as burial insurance policies, are designed to help cover funeral and burial costs, as well as other end-of-life expenses. Royal Neighbors offers varying coverage options that are worth taking a look at.
The company’s final expense policy provides an affordable way for seniors to ensure their loved ones will not be burdened with the cost of their funeral or other end-of-life expenses.
The policy pays out a lump sum death benefit upon the insured’s passing that can be used by family members to pay for these costs.
It also includes a terminal illness rider which allows beneficiaries access to some or all of the death benefit while the insured is still alive – if they become terminally ill or need long term care services due to chronic illness or disability.
Further, there is an optional accidental death rider that you may add on to your policy for an additional cost. With an accidental death rider, your policy pays twice the amount of your death benefit should you pass away as a result of a qualifying accident.
Key Policy Features:
- Issue ages: 50 – 80.
- Permanent life insurance.
- Minimum coverage amount: $7,000
- Maximum coverage amount: $30,000
- No medical exam.
- There are health questions.
- Many health conditions accepted.
- Fixed premium payments.
- Quick application turnaround time.
The cost of Royal Neighbors’ final expense policy varies depending on factors such as age, gender, and health status but typically ranges from $35 – $175 per month for coverage amounts up to $35,000 dollars.
This makes it one of the most affordable life insurance options available for seniors who are concerned about the cost of burial insurance – and may not qualify for traditional whole life policies due to medical conditions.
Applying for a Royal Neighbors final expense policy is easy and straightforward; applicants simply fill out an online application form with basic information about themselves such as name, address, date of birth, then submit it along with any required documents like proof of identity and medical records if applicable.
Once approved by underwriting staff at Royal Neighbors headquarters in Rock Island, Illinois, the applicant will receive confirmation often within minutes – outlining details about their new policy including premium payments due dates etc.
Final expense policies from Royal Neighbors provide peace of mind knowing that your loved ones won’t have a financial burden when you pass away.
They offer competitive rates compared to other providers, making them an ideal choice for senior citizens looking to secure their future without breaking the bank.
Royal Neighbors of America Final Expense is a great option for burial insurance for seniors looking to secure their financial future. Now let’s take a look at the benefits of this policy.
Key Takeaway: Royal Neighbors of America offers an affordable final expense policy for seniors over the age of 50, providing a lump sum death benefit to cover funeral and burial costs as well as other end-of-life expenses.
Benefits of Royal Neighbors Final Expense Policy
Royal Neighbors of America’s final expense policy is designed to provide seniors with peace of mind and financial security.
With no medical exam required, it easy for seniors to apply for coverage. The flexible payment options make the policy affordable, allowing you to choose a monthly premium that fits your budget.
The policy provides up to $25,000 in coverage and can be used for any type of end-of-life expenses such as medical bills or estate taxes. This ensures that your loved ones are not left with an unexpected financial burden after you pass away.
Royal Neighbors also offers additional benefits such as terminal illness rider, which allow you access to some of the death benefit if you become terminally ill before passing away.
In addition, Royal Neighbors allows beneficiaries access their funds quickly through electronic transfer or check delivery within 24 hours upon receipt of all necessary paperwork from them.
This eliminates long wait times associated with other insurance companies and gives families quick access when they need it most during this difficult time in their lives.
Overall, Royal Neighbors final expense policy provides seniors with reliable coverage at an affordable price while giving families peace of mind knowing that their loved one’s final expenses will be taken care of in case something happens unexpectedly.
Cost of Royal Neighbors Final Expense Policy
The cost of a Royal Neighbors final expense policy is determined by the amount of coverage chosen and the age and health status of the insured individual.
Generally speaking, premiums are affordable and start at around $25 per month for those 50 and older in decent health. Note – a number of common health conditions are accepted.
Burial insurance rates for elderly seniors may be slightly higher due to increased risk factors associated with aging. However, Royal Neighbors offers competitive rates that can help provide peace of mind in knowing your loved ones will be taken care of after you’re gone.
Your Royal Neighbors final expense policy rate is determined buy:
- Age
- Gender
- Coverage amount
- Health status
Royal Neighbors also provides flexible payment options to make it easier for seniors on fixed incomes to afford their policies. You can choose from monthly payments or annual payments depending on what works best for your budget.
When choosing an amount of coverage, consider how much money would be needed to cover funeral expenses as well as any outstanding debts or bills left behind by the deceased person such as credit card debt or medical bills not covered by insurance.
Royal Neighbors final expense policy offers an affordable way to cover the costs of end-of-life expenses.
The more coverage you choose, the higher your premium will be but it could save family members from having to pay out-of-pocket expenses later down the line if something unexpected happens during their time apart from each other.
Key Takeaway: Royal Neighbors of America offers affordable final expense policies for seniors that can provide peace of mind in knowing their loved ones will be taken care of after they are gone. The cost is determined by the amount of coverage chosen and age, health status.
How to Apply for Royal Neighbors Final Expense Policy
Applying for a Royal Neighbors final expense policy is quick and easy. All you need to do is provide some basic information about yourself such as your name, address, date of birth, and Social Security number.
You can apply online or by phone in just minutes.
Be sure to work with an independent life insurance agent before and during the purchasing process – that way you have someone working on your behalf to find the best policy to fit your needs.
Note – if you are a senior over 80 years old, you may need to look into applying with another carrier. Royal Neighbors only accepts applicants up to age 80, while other burial insurance carriers will issue coverage to seniors up to age 85.
When applying online, you will be asked to fill out an application form with the required information. Once completed, submit the form and wait for confirmation that your application has been accepted.
If approved, you will receive a copy of your policy right away, either online or through the mail.
If applying by phone, a Royal Neighbors underwriter will guide you through the process step by step. During this call they will ask for all necessary information needed to complete your application including your basic medical history – so it’s important to have this ready before calling in order to expedite the process.
Always be honest on a life insurance application. Failing to do so could mean disqualification or cancellation of your life insurance policy. Even if your policy is issued, your beneficiaries can be denied your death benefit, if it is found that you were knowingly dishonest on the application.
Additionally, make sure that when signing up for automatic payments from bank accounts, sufficient funds are available at all times; otherwise there may be additional fees incurred due to nonpayment which could result in cancellation of coverage if not rectified quickly enough.
Applying for a Royal Neighbors of America final expense policy is a simple and straightforward process that can provide seniors with peace of mind.
Key Takeaway: A Royal Neighbors final expense policy is quick and easy to apply for. All you need is some basic information such as your name, address, date of birth, and Social Security number.
Frequently Asked Questions for Royal Neighbors of America Final Expense
Is Royal Neighbors of America legit?
Yes, Royal Neighbors of America is a legitimate insurance provider. They were founded by nine women, with the knowledge that not just men, but women and children also needed insurance protection.
Their primary products include life insurance and annuities. They have an A+ rating from the Better Business Bureau and an A rating from A.M. Best.
How long has Royal Neighbors of America been in business?
Royal Neighbors of America has been in business for over 125 years. Founded in 1895, it is the oldest women-led life insurance company in the United States.
Royal Neighbors provides a variety of products and services designed to meet the needs of seniors, including final expense.
Royal Neighbors is committed to providing quality service with integrity while helping its members protect their families’ futures through sound financial planning.
Who founded Royal Neighbors of America?
Royal Neighbors of America was founded in 1895 by seven women in Rock Island, Illinois. The organization was created to provide life insurance and other financial benefits to women who were not eligible for coverage through traditional providers at the time.
Its mission is to empower women financially and help them protect their families. Royal Neighbors has grown into a national fraternal benefit society that provides life insurance, annuities, investments, and retirement planning services and more to its members across the United States.
Next Steps
Royal Neighbors’ final expense policy is a great option for seniors over the age of 50. It offers competitive rates, flexible payment options, and peace of mind knowing that end-of-life expenses are taken care of without burdening loved ones.
The cost is also affordable with no medical exam required to apply. With this policy in place, you can rest assured that your family will be taken care of when you pass away.
Royal Neighbors has been providing insurance solutions since 1895 and their commitment to customer service makes them an ideal choice for those looking for reliable coverage at an affordable price.
Their burial insurance policies are designed with seniors in mind and provide a range of benefits such as cash value accumulation, living benefits, and more.
If you’re considering a final expense policy from Royal Neighbors, it’s important to understand all the details before making any decisions so you can make sure it meets your needs now and into the future.
Speak with one of their agents today to learn more about how they can help protect your family after you’ve gone.