Sentinel Life Final Expense Insurance

The passing of loved member is always a difficult experience. All families would life to give their departed members an appropriate funeral service before bidding farewell. It would be wise for every person to go in for a comprehensive final expense insurance policy, which could take care of the funeral and burial costs. The insurance company of the insured customer would handle all the costs related to the funeral through the death benefits received from the policy.

For people who are not adequately insured, the burden of meeting these costs could be quite difficult and you may have to spend a considerable portion of money from your life savings. Funeral and burial costs have witnessed a steep rise over the last few decades and on average cost about at least $7,500. This is a substantial sum of money for a lot of families. Final expenses policies are easy on the pocket as they come with fixed premium rates.

Sentinel life final insurance is one of the most affordable and highly rated insurance packages in the market. The proceeds received from the policy can be used to address all funeral expenses inclusive of burial plot, casket charges, headstone engraving, transportation, funeral service, minister costs and wake- visitation. The remainder of the proceeds can be used to clear outstanding debts of any nature such as mortgage, car loans, credit card payment and other such expenses. The money from the proceeds can also be directed to your beneficiaries, which may come in really useful for them some time in future. A lot of people also tend to direct a part of proceeds to their grandchildren to help fund their college expenses.

Final expense policy comes with a whole host of features and this form of insurance can be very affordable for people among the lower income groups as well. The company also enjoys great goodwill among the community and enjoys the highest of ratings in the insurance market. There are different types of vantage plans that come with Sentinel life final expense insurance.

New Vantage (i): The death benefits received from this plan are equal to that of the face value mentioned in the package.

New Vantage (ii): In this type of package the death benefits are graded over the first three years of the policy. In the first year, the death benefits amounts to about 30% of the face value of the policy. The percentage increases to 70 in the second year and reached 100% in the third year and beyond. In the event of an accidental death, 100% of the death benefits can be obtained even in the first two years.

New Vantage (iii): This is slightly different from the former. In this type of plan the death benefits for the first two years of the policy is equal to that of the premium rates combined with an annual interest of 10%. From the third year and beyond the death benefits is 100% of face value as listed in the policy.

These new vantage plans are specifically useful for people who are:-
  • If you are looking for a plan that provides final expense coverage and also at the same time, looking towards avoiding the pressures of underwriting.
  • If you have been rejected by other companies
  • If you are finding difficulty in getting yourself placed.

Riders that come with Sentinel Final Life Insurance (New Vantage (i) only): -

Waiver of Premium Rider (WOP): - People from the age groups of 15-55 can derive this benefit. The rider expires once anniversary of the policy kicks in. This is then followed by the 60th birthday of the insured customer or results in the ending of payment of the base policy – whichever happens first. In the event that the insured party was to become disabled completely and permanently, the rider can be used to waiver the premium. The above physical condition would stop the insured from attending to work as per his or her qualifications while the insurance company would determine when the employee received the injury or fell critically ill. In order to file for this particular claim, the injured party must have gone through at least 6 months disability before becoming eligible for it.

Accidental Death Rider (ADR):- People from the age groups of 0-60 can avail this benefit. Here to the rider expires upon the anniversary of the policy. This is then followed by the 65th birthday of the insured party or by the ending of premium payments of the base policy – whichever occurs first.

Death benefits can be derived if the insures dies due to some form of accidental injury suffered on ones self. However there are exceptions to this. It is important that death does not occur through suicide, involvement in a major crime or as a crewmember who willingly operates an aircraft to its fatal descent – in such cases ADR is not applicable to the insured.

Children’s Protection Rider (CPR):- Every child above that is insured and above the age of 15 years is liable to receive $1000 during each unit of the term insurance. It should be noted that the coverage would cease at the earliest of the above parameters.
  • The child’s 25th birthday which would be followed by the anniversary of the policy.
  • The insured parent would receive the final premium payment.
  • At the 65th birthday of the insured parent which would be followed by the anniversary of the policy.

At the same time children who are dependent, can be taken into consideration for the application provided they have not yet turned 18. Those who are eligible for the above have to be either natural children or legally adopted or step children.

Hence consider Sentinel final expense policy as a serious and fruitful investment. The package comes with several riders and benefits to suit to the varying needs and requirements of people. Make sure to plan in advance with regards to your rate of premiums so that you have a good estimate of the proceeds that can be derived at the time of your death. The proceeds from the policy can also be used to address other financial concerns, which is an added plus in its favor.

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