Prosperity Final Expense Review for 2024 Pros & Cons

Are you wondering if Prosperity Life’s final expense is any good? Then you are in the perfect place. This burial insurance carrier is one of the best final expense life insurance companies on the market.

This is going to be the ultimate guide and review to prosperity life and their final expense plans. We pride ourselves on our in-depth thorough analysis of burial insurance carriers and what they offer.

We are going to cover everything you need to know about Prosperity final expense. This will help you make a properly informed decision to protect your family from the burden of your final expenses.

Now we are going to get into the nitty-gritty fine print of this company and its plans.

Understanding Prosperity Final Expense Insurance

Prosperity final expense life insurance(funeral insurance, burial insurance, cremation insurance etc.) is a simplified issue whole life insurance policy. A prosperity final expense policy will pay for funeral, burial, cremation, debts and any other end of life expenses.

Prosperity burial insurance does not require a medical exam to get funeral coverage. The simplified underwriting only requires you to answer health questions on the life policy application. In addition to this there are health and prescription history checks.

Now prosperity final expense is a whole life policy which means you pay on the policy your entire life until you die.

This guarantees your family will get the death benefit to pay for your final expenses. Keep in mind that the final expense insurance death benefit to your beneficiary is tax free.

	Age Eligibility	Policy Brochure
★★★★★	55-80	Brochure
Policy Features & Benefits	Type of Policy: Whole Life(Lifetime Coverage)	Waiting Period: Graded & Modified Plans(yes) Level Plan(no)
	Available States: All Except SC,SD,CT,MT,NY,ND	Level Premiums(Premiums Never Increase)
	Cash Value Builds in Policy	No Medical Exam Required
	Death Benefit Amounts: $5,000-$35,000	Level Death Benefit(Death Benefit Never Decreases)
Accelerated Death Benefit Rider	Allows the insured to access the policy death benefit in the event of a terminal illness, providing funds for various needs such as living expenses or early funeral expenses.
Accidental Death Benefit Rider	Doubles the policy payout if death is a result of an accident, operating similarly to other accidental riders.

Details

Features	Description
Level Benefit Plan Payout Structure	Full 100% Death Benefit Payout from Day One
Graded Benefit Plan Payout Structure	Year 1: Pays 30% of Death Benefit from Policy Year 2: Pays 70% of Death Benefit from Policy Year 3: Pays 100% of Death Benefit from Policy
Modified Benefit Plan Payout Structure	Year 1 Pays Return of Premium Plus 10% Year 2 Pays Return of Premium plus 131%
Minimum Death Benefit	$5,000
Maximum Death Benefit	$35,000
Terminal Illness Accelerated Death Benefit Rider	Included on All Plans
Accidental Death Benefit Rider	Optional for All Plans
States Available	All States Except SC, MT, NY, SD, CT, ND
Medical Exam	None Required

Prosperity Final Expense Underwriting

Qualifying for Prosperity life plans is simple. You do not need to do a medical exam or give blood or anything like that.

You simply answer their health questions, perform a prescription and medical background check as well as look at your height and weight. Based on how you answer their questions you will either be approved or denied.

Use the link in the table above to look at their health questions to see if you qualify.

Prosperity Final Expense Products

Prosperity Life Insurance Group LLC has 3 different burial insurance products. They actually go by the name New Vista Final Expense or if you are in NY it would be Golden Promise.

• Level Plan
• Graded Plan
• Modified Plan

Right away based on how we listed these you rate them by the best plan starting first on the list to the least good plan at the bottom.

Keep in mind that these are all simplified issue policies which means basically there is no medical exam required or specialized tests from someone coming to your home. For prosperity final expense applications you simply answer their health questions with the carrier on the phone.

After you answer the health questions and they perform the Medical Information Bureau Health Report and prescription checks They will let you know if you have been approved for either the level, graded, or modified death benefits.

After that, you would simply apply your voice signature instead of signing a paper application.

Prosperity Final Expense Level Plan

This is their day one coverage plan. This is their best product above all for several reasons.

• Rates are locked in for life
• They offer coverage of $1,500 – $35,000
• No waiting period for benefits
• Death Benefit can never Decrease

Now to get Prosperity final expense coverage you have to work with an independent agency like ParamountQuote you cannot get a policy from Prosperity directly.

Prosperity products are not available in the following states:

SD, ND, MT, HI, DC, DE, CT

If you live in any of those states there are still options for you and you should speak with one of our agents to find a policy in your state.

Prosperity Final Expense Graded Plan

The graded death benefit is more expensive than the level plan. It is limited coverage for the first 2 years but if you pass from an accident it will pay the full face amount.

Now if you do not qualify for level this is still a great option because it is not a full-blown 2-year waiting period.

The way it works is if you die within 12 months your family gets 30% of the death benefit. If you die in 24 months your family receives 70% of the death benefit. When you are past year 2 the full death benefit will be paid if death occurs.

If death occurs from an accident during the first 2 years the full death benefit is paid to your beneficiary.

Prosperity final expense graded plan still has the 2 same features as the level plan.

• Rates are locked in for life
• Death benefit never Decreases

Prosperity Final Expense Modified Plan

This is our least favorite and their most expensive plan. There is a 2 year waiting period for benefits with this plan.

It works on a Return of Premium basis. So if death occurs within the 1st year your beneficiary will get 110% of the premiums paid into the policy. After year 1 if death occurs your beneficiary will receive 231% of the premiums paid in.

Once you are through the first 2 years your beneficiary will receive the full face amount. Accidental death also applies to this policy so if you die from an accident your beneficiary will receive the full benefit.

This plan does have the same 2 features as the others.

• Rate locked in for life
• Death Benefit Never Decreases

Policy Riders

Prosperity life offers 2 different riders you can attach to your policy.

• Accidental Death Benefit Rider
• Accelerated Death Benefit Rider

The accidental death rider lets you add additional coverage if death occurs due to an accident. This can equal up to double the face amount.

Now the accelerated death benefit is if you become terminally ill. This means you can withdraw a portion of your face amount early (20% – 50%) which is counted as a loan against the policy and subject to interest for things you may need such as pre-planning your funeral etc.

Cost of Prosperity Life Burial Insurance

Below is going to be a table outlining the cost of Prosperity burial insurance. These quotes come directly from our quoting tools to provide you with the most accurate funeral insurance rates for Prosperity’s final expense life insurance.

We included the costs of Prosperity’s funeral insurance coverage at all plan levels, Level, Graded, and Modified plans.

Age	Level Plan $10,000 Male Non- Smoker	Graded Plan $10,000 Male Non-Smoker	Modified Plan $10,000 Male Non-Smoker
50	$34.52	$48.44	$77.10
55	$37.62	$61.61	$92.16
60	$45.77	$76.99	$113.96
65	$58.10	$95.63	$125.05
70	$79.58	$115.49	$154.07
75	$113.68	$165.55	$194.15
80	$147.96	$233.26	$294.99

Prosperity Final Expense Pros & Cons

Pros

• Simplified Underwriting: Prosperity final expense insurance does not require medical exams only answering health questions with consent to health and prescription history checks.
• Covers End of Life Expenses: Policy covers end-of-life expenses such as funeral, cremation, burial and any leftover debts.
• Whole Life Coverage: It is a permanent policy that never expires as long as premiums are paid.
• Death Benefit is Tax Free: No taxation on the death benefit to your beneficiary.
• Available in Most States
• Locked in Rates: For the level and graded plan the rates are locked in for life.

Cons

• State Limitations: Prosperity is not available in several states
• 2 Year Waiting Period for Modified Plan
• Higher Costs for Graded & Modified Plans
• Limited Death Benefit for Graded Plan During First 2 Years

Prosperity Life Company Background & Ratings

They have several companies underneath their umbrella.

• SBLI USA Life Insurance Company
• SUSA Life Insurance Company
• Shenandoah Life Insurance Company

The Prosperity Life Insurance rating is an A- (Excellent) by AM Best which is the top rating authority regarding insurance. Prosperity life group also holds an A- Kroll rating.

• Their Website: prosperitylife.com
• Phone – 1-866-787-2123
• Address: P.O. Box 1050 Newark, NJ 07101-1050

Subsidiaries

• Prosperity Holding Company
• Prosperity Life Insurance Group LLC Asset Management Arm