If you are reading this you have most likely seen the EverQuote funeral insurance commercial for final expense insurance to pay for funeral expenses so your loved ones do not have to. First and foremost EverQuote is an insurance agency not a life insurance company. This means they represent several burial insurance companies that offer different life insurance coverage and rates.
That being said the lack of transparency on their website and misleading TV commercial for life insurance coverage for funeral costs is problematic. In this EverQuote funeral insurance review, we are going to cover these issues in much more detail.
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EverQuote Funeral Insurance Plans
Funeral insurance or burial insurance is life insurance coverage designed to cover funeral costs when you die so your family does not get stuck with a $7,000 – $15,000 bill for funeral costs or if it is being used as cremation insurance the cremation costs. Burial insurance is whole life insurance coverage that pays a quick death benefit to your named beneficiary to pay for funeral costs.
That being said EverQuote funeral insurance plans work the same way any final expense life insurance plans do. They pay the death benefit to your beneficiary and then your beneficiary takes the check to the funeral home and pays the funeral costs. It is as simple as that now with a final expense life insurance policy there are 3 key benefits.
Burial Insurance Benefits
- Death Benefit is Guaranteed To Never Decrease
- Premiums Never Increase as long as the policy is paid and in force
- The Benefit to Your Beneficiary is 100% Tax-Free
Those benefits should always be with any final expense life insurance policy if they are not do not buy it period. Fortunately, the life insurance companies we did find for EverQuote do offer this type of life insurance policy however again their website lacks transparency and it was very difficult to figure out which companies they represent without speaking to one of their agents.
EverQuote Has These Companies
- Mutual of Omaha
- Liberty Bankers Life
- John Hancock
The thing is if you go to their website you will have to fill out your personal information to get a quote and you will not even see quotes on their website. You will get a message stating that they will have an agent contact you with rates which means you do not even get an idea of how much it will cost.
Now if you fill out our quoter you will see rates from our carriers and be able to select the life insurance policy that best suits you before our agent calls you to assist with qualifying and signing up. We pride ourselves on our level of transparency and want you to have as much information as you need to cover your final expenses properly with final expense life insurance.
EverQuote Funeral Insurance Commercial & Fine Print
Below you are going to see the EverQuote funeral insurance commercial as well as screenshots showing the fine print and potentially misleading advertising. This commercial is advertising for their final expense life insurance and details the costs of final expenses and how final expense life insurance can cover funeral costs which is a good thing but the fine print is the issue.
One of the biggest issues with the commercial is how they emphasize no waiting period in life insurance. The issue with this is the fact that final expense policies are a simplified issue whole life insurance policy which means there may be no medical exam but there are definitely health questions and good health is required to get a final expense policy with no waiting periods.
This is why you need to be careful of any advertisement that makes it sound like there are no health questions and no waiting periods. If you get a whole life insurance policy with no health questions it is a guaranteed acceptance policy with a 2 year waiting period there are no exceptions to this rule. If you are in extremely poor health a guaranteed issue policy will not cover funeral costs for the first 2 years of your policy.
In order to get a life insurance pay-out of the full death benefit you will need to answer health questions for final expense policies now again whole life insurance for final expenses does not require a medical exam but they will look at your prescription drug and health history. If your answers line up with their final expense policies you will receive immediate approval.
This is why advertisements that make it sound like everyone is approved for day one coverage with no health questions or medical exam are so problematic and misleading. Colonial Penn’s $9.95 plan is a perfect example of that kind of marketing for a burial insurance policy.
The Importance of Transparency
When it comes to a no medical exam life policy being in good health is key to getting the best life insurance products. In addition to this the companies we offer dont always ask about certain health conditions or have a specific time frame of when the health issues occurred. For example, if you have COPD diagnosed over 2 years ago and just take inhalers like albuterol we have insurance providers that will give you coverage with no waiting period like Aetna burial insurance.
Instead of putting you into a guaranteed acceptance policy with a graded death benefit our independent agent will tell you exactly which carriers you qualify for to help you make an informed decision. Simplified issue plans are much easier to qualify for than a traditional whole life policy. This is why we pride ourselves on our transparency and giving you the consumer as much information as possible to help you read and understand which companies offer final expense coverage with no waiting period and how to get it.
EverQuote funeral insurance advertising lacks this transparency when they leave it up to the fine print to explain that not everyone qualifies for immediate coverage which in our opinion is problematic.
You should be able to go to their website and put in your information and see legitimate quotes on your screen before you even have to answer their phone call so you know that you can afford it period.
Buy Burial Insurance with Us & Our Companies
If you are looking to buy whole life coverage for burial costs and other final expenses instead of working with EverQuote funeral insurance work with us. You can easily see pricing and what our companies offer by filling out the form to the right this will display over 10 different companies to choose from. At that point one of our agents will contact you to qualify you for the right whole life plan and go over any other final expenses you need covered.
We are a national independent brokerage with highly trained field underwriters that become your personal agents with the goal of finding you coverage that has no waiting period depending on your health. With our whole life plans, there are no hidden fees and your surviving spouse, children, siblings or any other family members can be named as beneficiaries for your whole life plan.
EverQuote Company Background
EverQuote was founded in 2011 in Cambridge MA, by Seth Birnbaum & Tomas Revesz
Their headquarters is located in Massachusetts