Final expense and life insurance, in plain words.
Life insurance pays money to the people you choose when you pass away. Many people I help want a smaller policy that pays for the funeral or leaves money for bills, so the family isn't left with the cost. I'm Erick Vallarino, an insurance agent here in the Valley, and I help people anywhere in Texas. Ask me for a quote. It costs nothing to ask.
This is life insurance, not a Medicare plan.
You don't need life insurance to have Medicare. If we're meeting about your Medicare, we'll set a separate time to talk about life insurance. That's a Medicare rule, and it keeps things clear.
The kinds of life insurance, in plain words.
Every policy is different, so we read the details together.
Final expense
A smaller whole life policy meant to pay for a funeral or leave money for bills. Some people call it burial insurance. The money goes to the person you name, who can use it for the funeral or anything else.
Whole life
It lasts your whole life as long as you pay the premiums, and with many policies the payment stays the same. It also builds a cash value over time. If you borrow from it and don't pay it back, your family gets less, so we go over that together.
Policy check-up
Bring me the policy you have, or one your mom or dad has. I'll explain in plain words what it pays, who gets the money, and what it takes to keep it. If it still fits, I'll tell you to keep it.
Health questions, or none at all.
Some final expense policies ask a few health questions. Whether you're approved, and the price, can depend on your answers. Your age and how much the policy pays also change the price.
Others ask no health questions at all. Those usually pay less than the full amount if the insured person passes away in the first two years, except in some cases, like an accident. After that, they pay the full amount. I'll show you exactly how each one works.
It isn't a contract you pay ahead of time with a funeral home. It's a life insurance policy, and the person you name gets the money.
Questions I'll help you ask.
We go over these together, for every policy, before you sign anything.
- Does it ask health questions, or none?It changes the price and when it pays in full.
- Does it pay the full amount from the first day?Some policies pay less in the first years.
- Can the price go up later?Ask now, not after you sign.
- What if I miss a payment?Many policies give you a short time to catch up. We check yours.
- What happens if I borrow from it?A loan you don't pay back lowers what your family gets.
- Who gets the money, and how do they ask for it?Tell your family where the policy is.
I compare. You choose.
I'm an independent agent, and I work with several insurance companies. I put your choices side by side, in English or Spanish, at your kitchen table, at an office near you, or by phone or Zoom if you live farther away.
The insurance company pays me, not you. I won't push you toward a bigger policy than you need. I'd rather you keep it for years and tell your family about me.
Thinking of changing policies? Don't cancel the one you have until the new one is approved and in place.
Want a quote? Let's talk it over.
Call or text me. Tell me what you want the policy to do, and I'll show you your choices. No pressure, and asking costs you nothing.