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Motorists Life

Motorists Life has been in business since 1965. The company offers several options for final expense insurance, with payouts ranging from $2,000 to $25,000 depending on which plan you select. Flexible premium plans are available, and Motorists Life guarantees that your premiums will remain the same over the life of your policy. It services insurance policies in the following states:.

Florida Iowa Nebraska Tennessee
Georgia Kentucky Ohio Virginia
Illinois Michigan Pennsylvania West Virginia
Indiana Minnesota South Carolina Wisconsin

Do I have to use burial insurance benefits on funeral expenses?

Your beneficiary does not have to use your death benefit on funeral expenses. After your death as the policyholder, your beneficiary will receive a lump-sum cash payout that he or she may use for anything they desire. Many beneficiaries do in fact use the funds for burial expenses or other end-of-life costs, which currently average close to $10,000 in the United States. It is not a requirement, though, as death payouts may be used for any purchase, bill, debt, loan, or expense.

How do you apply for burial insurance?

To quickly and easily apply for final expense or burial insurance, you should go to your preferred insurance company’s website. You’ll likely need to answer a medical questionnaire, which is usually short and is used to determine both your eligibility and the most appropriate coverage plan. After you’ve completed the questionnaire, in many cases you’ll be able to sign up for coverage immediately, and you’ll need to provide the company with your personal and billing information. If you’d rather talk to an agent in person, you can call the phone numbers listed on the website. You can also visit the insurance company offices in your local area and speak to a licensed agent.

Do burial insurance premiums change?

Most final expense policies have what’s known as a guaranteed premium. This means that your premium payments never change over the life of your insurance as long as you pay them on time. Premiums are calculated based on your age, sex, health issues, location, and other factors. But once you have accepted an offered premium from an insurance company, it will not change over the life of your policy.

Some insurance companies feature plans with staggered payout options. For example, if you pass away before a certain amount of time has elapsed, your beneficiary may not receive 100% of the advertised payout even if you have paid all of your premiums. Be sure to discuss your policy with a licensed agent until you have a good understanding of how it works and what your responsibilities are to ensure maximum benefit for your beneficiary.

How to get started

If you are already an Motorists Life insurance customer, you should contact your local office and inquire about a final expense policy. If you are a prospective customer, you can connect with an agent on the firm’s website. You may also shop for policies using our comparison tool by clicking on the following link.

Financial Strength Ratings

AM Best – A-, Stable outlook
Moody’s – No rating
Standard & Poor – No rating

Company contact info

Motorists Life
471 East Broad Street
Columbus, OH 43215
(888) 876-6542