Typically, face amounts are dictated depending upon the carrier's terminal illness riders based on accident accelerated death benefit riders. There's no medical exam, no blood profile, no oral swabs, none of that stuff that isn’t fun for people. It is just simple basic health questions and, typically, it covers final expense. That’s any costs with funeral expenses and here's a big misconception with some people: they think that if you buy a policy for your loved one that the check goes to the funeral home. It doesn’t. It goes to the beneficiary, so whoever the owner of the policy gets to pick their beneficiary. They get to pick who gets the money, not the funeral home.
It's not subject to probate fees, other financial obligations that a family faces when losing a loved one. This is a great plan because it is the kind where benefits never go down and the premiums never go up. It's just a really standard, easy to explain plan that can be approved with a couple of health questions. There's cash value and if you miss a payment the cash can make your premium payments for you, so there's also all kinds of riders that can be added and if you do surrender at risk cash value. After a certain period of time, some companies have living benefits that live inside of it. The best final expense product we have is Foresters Plan Right.
