Big Lou: advertisements say he’s just like you, but is he really? Probably not. Big Lou isn’t real – he’s an advertising character created by the life insurance brokerage TermProvider.
They sell policies from several providers under Big Lou Life Insurance, claiming they will get the best coverage for the average person at affordable rates. It’s a nice goal, but we at Final Expense Benefits believe they miss the mark.
If you’re interested in life insurance, we’re here to help. Call us at (866) 786-0725 to learn more and see how much you can save with our advice. If you’d like to see personalized pricing estimates, check out our free online quoting tool.
History of Big Lou Life Insurance
Big Lou Life Insurance is a life insurance brokerage founded in 1982 and is located in Fort Walton Beach, FL. They’re more accurately known as TermProvider, a brokerage that specializes in term life insurance. They created the Big Lou character as an advertising mascot in 2011 to appeal to the “every person”. Their “every person” is the average person: maybe around 50 years old and might not be the most healthy, but is still looking to provide coverage for loved ones.
Big Lou’s stated goal is admirable, but one we believe they fail to achieve. It’s clear from their advertisements: they claim term life insurance can be an inexpensive choice for someone in their 50s with lots of health concerns, which is often not true. Even in their ad’s example, they treat a $200 monthly premium for a $1 million term life policy like a huge discount – which it’s not. Simply stated, with the health concerns Big Lou advertises, you’re likely better off putting your money toward a final expense plan
Coverage Options with Big Lou Life Insurance
As Big Lou is a life insurance brokerage, their coverage options are diverse. They treat term life insurance as their specialty but offer whole and universal life insurance too.
1
Big Lou Term Life Insurance
Term life insurance is a type of life insurance that only provides temporary coverage and often has restrictive application processes. Typical term life coverage lengths are 10 through 30 years.
Big Lou specializes in term life insurance, featured across their advertising. You’re often eligible for the best term life rates if you are younger and in good health, but Big Lou still treats term life as a good choice for their “every person”: over 50 years old, and in moderate to poor health. Frankly, you’re not being well-served by your life insurance brokerage if you’re in below-average health and are advised to only seek out term life insurance.
By treating term life as the best choice for their “every person”, Big Lou does a disservice to its customers. While term life can be a good choice for income replacement when you’re younger and qualify for the best rates, at older ages, or in poorer health, your money can go farther with a final expense insurance policy instead. You may not qualify for the majority of term life insurance. With a final expense policy, you can build cash value, lock in rates when you start, and tailor your coverage to your needs.
Big Lou isn’t wrong that term life insurance can be a good choice in some cases, but it’s certainly not the best for their “every person”.
2
Big Lou Whole Life Insurance
Whole life insurance provides coverage for the policyholder’s entire life, as long as premiums are paid. Unlike most term life insurance, whole life policies gain cash value over time by investing a portion of premiums.
Big Lou is a brokerage, so they should be able to pick from most policies their insurance provider partners offer. They do not advertise whole life insurance as prominently as term life, despite a stated commitment to their “every person” customer.
Big Lou Life Insurance could better serve their customers by advising whole life insurance. It can be the best option for covering funerals and other end-of-life costs. Whole life insurance specialized in covering end-of-life expenses is also known as final expense insurance. It is a great way to cover seniors who might have preexisting health conditions at a manageable rate.
3
Big Lou Universal Life Insurance
Universal life insurance is similar to whole life. Universal offers additional flexibility, as premium payments and death benefit coverage can be tailored throughout the policy’s life, rather than being locked in at the start. They allow policyholders to adjust premium payments within set limits. Like whole life policies, universal life insurance accumulates cash value over time.
Universal life insurance is available with Big Lou too. They don’t feature universal life as a significant option, and neither do we. It’s often better to go with a simpler policy, as universal life benefits can get messy due to varying premiums and cash value.
Rates for our Recommended Final Expense Insurance Providers
Final Expense Benefits only works with the best providers in the final expense insurance market. Our goal is to get you affordable coverage that best fits your needs. Below are sample rates for a $10,000 final expense insurance policy, which is considered the benchmark for final expense death benefits:
| Company |
Male 50y/o |
Female 50y/o |
Male 60y/o |
Female 60y/o |
Male 70y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$34 |
$27 |
$50 |
$40 |
$70 |
$56 |
|
|
$31 |
$26 |
$43 |
$35 |
$71 |
$53 |
|
|
$31 |
$24 |
$44 |
$33 |
$75 |
$53 |
|
|
$34 |
$29 |
$45 |
$35 |
$79 |
$59 |
|
|
$33 |
$26 |
$48 |
$36 |
$82 |
$58 |
These figures are estimates only, based on a $10,000 final expense insurance policy with no applicant pre-existing conditions.
If you’re interested in these or any of our other life insurance options, call us at (866) 786-0725 to learn more. Be sure to check our free online quoting tool for personalized pricing estimates.
Big Lou Life Insurance Company Pros and Cons
Pros
- Simplified Application Process
One advantage to Big Lou Life Insurance is a simplified application process, boasting quick underwriting turnaround. However, this is simply the result of working with a life insurance brokerage. Your brokerage agent handles most of the complicated parts of your application, so why not go with a brokerage that will give you the best advice like Final Expense Benefits?
- No Medical Exams
Big Lou Insurance advertises none of their policies require medical exams. This means they don’t recommend any plans from their providers that require an exam to qualify. This is certainly an appealing feature – and it’s one we do too. We can help you find a policy that fits your needs.
- Affordable Premiums
Big Lou advertises inexpensive premiums. The problem is that for many seniors, term life insurance isn’t affordable, and their focus on term could hurt your wallet. Final Expense Benefits is here to help you get an affordable policy that can fit your needs.
Cons
- Limited Options
As they’re a brokerage, Big Lou’s focus on term life policies can take a lot of the control out of your hands. You should get the policy you want, not be pressured into something else. If you’re a senior, you might not need your life insurance to function as an income replacement, which is the main benefit of term life insurance.
- Higher Premiums
Big Lou doesn’t decide the premiums their providers charge, but their focus on term life policies could mean that you get expensive coverage that doesn’t even fit your needs. Our no-pressure approach can help you find the coverage you want – without getting you stuck in a policy that overstretches your budget.
- Poor Customer Service
Big Lou customer service reviews warn of high premiums, pushy agents, and a lack of respect. That’s not what you want out of your life insurance agency. Final Expense Benefits is here to respect your needs at every step of the life insurance process.
Big Lou Reviews: Third Party Rating Services
1
AM Best Rating
AM Best is an agency that assesses insurance providers’ credit and financial ability. Big Lou is a brokerage and not a provider, so they aren’t rated by AM Best.
2
NAIC Rating
The National Association of Insurance Commissioners (NAIC) records insurance company complaint trends yearly. They only review insurance providers, so Big Lou Life Insurance isn’t rated on NAIC’s scale.
3
BBB Rating
The Better Business Bureau evaluates how trustworthy businesses are by tracking customer complaints and resolutions. They also provide complaint resolution services for customers and businesses. Based on those complaints, they rate companies A+ to F.
The BBB rates Big Lou A+, but they aren’t BBB-accredited. This indicates they believe Big Lou is capable but not exceptional at customer complaint resolution. However, their high rating is partly because no customer complaints have been lodged against Big Lou on the BBB website. Big Lou Life Insurance also has a rating of 1 out of 5 in BBB customer reviews.
Big Lou Life Insurance Reviews
Dave S
Roseville, CA
1/5
Carl W
Freehold, NJ
1/5
Robbie R
Concord, CA
1/5
Our Review and Final Thoughts
Big Lou Life Insurance unfortunately isn’t a reliable life insurance brokerage for several reasons. Their focus on term life insurance might not be helpful for seniors seeking final expense insurance. Big Lou customer service has a troubling customer reputation and their agents don’t seem to find the best rates.
Final Expense Benefits is here to help you out. Give us a chance and we will connect you to the life insurance you need at a great price – without pushy sales agents guiding you towards a big payday for them and a big headache for you. We partner with over 20 of the top final expense insurance providers. We can help you find an affordable policy that fits your needs.
Call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET and our expert agents can help you find the perfect solution to your senior life insurance needs.
FAQ
Who is Big Lou?
Big Lou isn’t real, but rather an advertising character created by life insurance brokerage TermProvider. Big Lou is a fictional “every person”, designed to appeal to older people seeking life insurance who may have health concerns.
Is Big Lou Life Insurance legit?
Big Lou is a legitimate life insurance brokerage, though their advertising may fool some people into thinking they are a life insurance provider.
Who owns Big Lou?
Big Lou is a subsidiary brand created by TermProvider, a life insurance brokerage.
Is final expense insurance worth getting?
Final expense insurance is a prudent, low-cost choice for seniors seeking to cover their end-of-life expenses or to leave an inheritance for loved ones.
