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Phoenix Life

Phoenix Wealth Management was originally formed as the American Temperance Life Insurance Company in 1851. Today, the firm offers a range of insurance products, though details on said products are scarce on the company’s website. The firm’s burial or funeral insurance package appears to be called Phoenix Remembrance Life, which is a whole life policy sold exclusively through Phoenix distribution partners. For more information, we recommend contacting a Phoenix representative using the information below.

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

Once the policy holder of a final expense plan passes away, the beneficiary of said policy may use the funds in any way they desire. Most beneficiaries use part or all of the funds for burial expenses, which currently average around $10,000 in the United States. That said, burial expense benefit payouts may be used for any other loan, debt, expense, bill, or purchase.

How do you apply for burial insurance?

The quickest way to apply for burial or final expense insurance is to apply directly on an insurance company’s website. In many cases, you’ll need to answer a simple medical questionaire. After you’ve completed this step and provided the company with your personal and billing information, you may be able to sign up for burial insurance immediately. If you’d feel more comfortable talking to a live person, you may call the insurance company of your choice and speak with an agent. These agents are licensed and will be able to assist you in selecting the most appropriate burial insurance policy for your specific needs.

Do burial insurance premiums change?

Most burial insurance policies feature guaranteed premiums, which means that your payments will remain the same until the benefit is paid out. Premiums are calculated based on your age and any health issues you may have, but once you have accepted an offered premium, it will not change over the life of your insurance policy.

Some insurance companies do offer plans with staggered payout options, though, so you should read the fine print (or ask an agent for clarification) to be sure you understand exactly how your death benefit will be paid. For example, if you pass away before a certain amount of time has elapsed, your beneficiary may not receive 100% of the advertised payout.

How to get started

If you are already a Phoenix 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 Phoenix Life website. You may also shop for policies using our comparison tool by clicking on the following link.

Financial Strength Ratings

AM Best – BB+, Developing outlook
Moody’s – No rating
Standard & Poor – No rating

Company contact info

Phoenix Life Insurance Company
One American Row
PO Box 5056
Hartford, CT 06102-5056