You may have stumbled upon Family Benefit Life Insurance Company when searching for the best final expense burial life insurance policy. Many people consider this company for their life insurance needs, but how reliable are they?
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About Family Benefit & Trinity Life Insurance
Family Benefit Life Insurance and Trinity Life Insurance are part of First Trinity Financial. While both are relatively new companies (Family Benefit Life only started in 2007), both have grown relatively fast.
As the name insinuates, Family Benefit Life Insurance is about one thing: family. Even if your “family” doesn’t fit the typical family structure, you still have people near and dear to you—people you want to protect when you leave this earth.
Family Benefit Life Insurance understands those bonds and strives to help people prepare for their future.
First Trinity Financial BBB rating is A+
Where is Family Benefit Life Insurance Available?
Family Benefit Life Insurance is available in the following states:
- Alabama, Arizona, Arkansas, Colorado, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Missouri, Nebraska, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia
If you do not live in one of these states, another life insurance company is probably right for you.
Alternatively, you can check back in a few months to see if Family Benefit has started operating in your state.
Does it matter that Family Benefit is so new?
While some may be hesitant to consider a young company like Family Benefit, it’s important to remember that age isn’t the only factor to consider when choosing a life insurance company. Just because a company has been around for a century doesn’t mean it’s the right fit for you.
A newer company like Family Benefit may offer a fresh perspective and be more open to innovative practices and technologies. While it’s always wise to question a company’s track record and financial stability, age alone shouldn’t be the deciding factor.
It’s worth noting that Family Benefit currently does not have an A.M. Best Company rating or a BBB rating, which may cause some hesitation. However, it’s important to consider all factors when choosing a life insurance company, including policy options, pricing, and customer service. Ultimately, only you can decide if Family Benefit is the right fit for your needs.
Family Benefit Final Expense Policy
Family Benefit is known for its hole life products, particularly its Golden Eagle Final Expense expense policy.
Golden Eagle Final Expense
This final expense policy with a death benefit for the simplified issue product is between $2,500 and $ 25,000.
The minimal policies of only a few thousand dollars are quite affordable and an excellent option for someone who doesn’t have a lot of money to spare at the end of the month for something like life insurance.
The low monthly payments associated with a policy for $2500 or even $5000 make it almost hard to resist this policy.
Please note Golden Eagle graded benefit face amounts range from $2,000 to $10,000 maximum.
Things to know about Golden Eagle’s Final Expense Plan:
With this life insurance policy, you will:
- Not have to take a medical exam
- Secure a Guaranteed Death Benefit- your death benefit will not change no matter how old or sick you become
- Be sure your policy will last. So long as you make your payments, this policy cannot be canceled for any reason.
- You have the option of a 100% accelerated living benefit. In case you suffer a terminal illness and need to cover expenses while you are still alive, you can access your death benefit.
Is Family Benefit Life a Good Option?
Family Benefit is a good option if you are looking for a final expense or burial life insurance policy. Although it has a few drawbacks – it’s a young company, and there aren’t any known “ratings” by organizations such as AM Best or Moody’s—it’s still a reliable company that has worked out for many people.
However, there are other life insurance companies out there that also offer great final expense policies. If you are looking for a life insurance policy, it might do you some good to find out more information about Family Benefit and other life insurance companies.