Similar to
all other guaranteed issue products on the market, this policy is designed for the final expenses in life so that your loved ones do not have to be burdened with any costs associated with your passing.
Not exact matches
Of the five total complaints, three had to do with problems with the company's
products and / or services, one was in relation to billing and / or collection
issues, and the
other one had to do with
guarantee / warranty
issues.
Among them was to protect the
other life insurers of the US from getting surcharged in order to pay for the costs going to the
guarantee funds, along with systemic risk
issues at AIG Financial
Products (which was much bigger).
Of these 305 complaints, 159 had to do with problems with the company's
product and / or service, 84 were related to advertising and / or sales
issues, 53 were in relation to billing and / or collection
issues, 6 had to do with delivery
issues, 2 were in relation to
guarantee / warranty
issues, and the final one had to do with
Other issues.
Of the total 72 complaints, 41 were in regard to problems with
products and / or services, 17 were in regard to billing and / or collection
issues, 8 had to do with delivery
issues, 4 were in regard to problems with
guarantee and / or warranty, and the
other two had to do with advertising and / or sales
issues.
Company: Fidelity Accidental Death Benefit
Product:
Guaranteed Issue Accidental Death Benefit Plan:
Other Term & Accidental
It's important to note that these are reasons that
guaranteed issue life insurance is bad for all shoppers, not just those who would otherwise qualify for
other life insurance
products.
Of the total 32 customer complaints, 23 were related to problems with the company's
products / services, five with billing / collection
issues, two were regarding
guarantee / warranty
issues, one pertained to advertising / sales
issues, and
other one had to do with delivery
issues.
Of the total 399 complaints, 239 had to do with problems with the company's
product and / or service, another 82 were related to advertising and / or sales
issues, 62 of the complaints were related to billing and / or collection
issues, 14 had to do with delivery
issues, and the
other two had to do with
guarantee and / or warranty
issues.
Of these 68 total complaints, 47 of them had to do with problems with the company's
product and / or service, 12 had to do with advertising and / or sales
issues, 7 were related to billing and / or collection
issues, one was related to delivery
issues, and the
other one had to do with the company's
guarantee / warranty
issues.
Many
other companies like Gerber, Assurity, and Mutual of Omaha offer equal or better quality
guaranteed issue and final expense
products at prices that are up 33 % less than Colonial Penn..
When compared to
other traditional term or whole life insurance
products,
guaranteed issue life insurance policies tend to be pretty expensive «dollar for dollar».
Now we're not saying that what you pay month to month is going to be super expensive, but when you compare what you need to pay vs the amount of coverage that you actually receive,
guaranteed issue life insurance
products will generally be more expensive than
other life insurance policies which require you to «medically» qualify.
Of the 39 complaints that were closed during the past three years, 18 had to do with problems with the company's
products and / or services, 10 were concerning billing and / or collection
issues, 3 were with regard to advertising and / or sales
issues, another 3 were having to do with
guarantee / warranty
issues, and five had to do with
other issues.
Of these 39 total complaints, 18 had to do with problems with the company's
product / service, ten were regarding billing / collection
issues, three were about advertising / sales
issues, three had to do with
guarantee / warranty
issues, and five had to do with
other issues.
Depending on the amount of coverage you need, life insurance for seniors over 70 becomes more difficult and we see more of a shift to
guaranteed issue and
other final expense
products to help cover some of the end of life expenses and left over medical bills.
Aside from
guaranteed issue life insurance policies, a rider on permanent
products from traditional carriers is perhaps the only
other place where coverage may be described in unit terms.
Of the 2,006 complaints from the past three years, 1,416 focused on problems with the company's
products and / or services, 378 focused on
issues with billing and / or collections, 190 had to do with advertising and / or sales, 12 had to do with
guarantee / warranty
issues, and 1 dealt with
other issues.
Gerber Life's
guaranteed issue is a great choice for those seeking life insurance who have been denied or may not qualify for
other products.
Of these 111 total customer complaints, 62 of them had to do with problems with the company's
product and / or service, while another 27 complaints were related to advertising and / or sales
issues, 16 had to do with billing and / or collection
issues, 3 were related to delivery
issues, and
other 3 were related to
guarantee and / or warranty
issues.
There are several
other products available for someone of this age, the two most common are, the fully underwritten Term Life Insurance and
Guaranteed Issue Whole Life Insurance.