Life insurance plays a crucial role in ensuring financial security for individuals and their loved ones. Among the myriad of life insurance providers in the market, Big Lou Realty Life Insurance has gained attention for its unique offerings. In this article, we will delve into the pros and cons of Big Lou Realty Life Insurance, exploring the company’s policies, benefits, and potential drawbacks. By understanding the key aspects of this insurer, readers can make informed decisions regarding their life insurance needs.
Established in 1982, Big Lou Realty Life Insurance is a prominent provider of life insurance policies in the United States. Big Lou Life Insurance Brokerage is located in Fort Walton Beach, Florida, and is one of the largest brokerages in the nation. The company prides itself on offering simplified and accessible coverage options, catering to individuals with various financial circumstances and goals. Big Lou Realty Life Insurance operates with the mission to provide reliable protection to policyholders and their families, ensuring financial stability in the face of unforeseen events.
Term life insurance is a type of life insurance that does not last your whole lifetime and instead has a set time limit that is set to end. Like most term life insurances, Big Lou Life Insurance offers term insurance policies that have no value outside of the death benefit and has no saving component like with whole life insurance policies. Coverage lengths are typically 10, 15, 20, and 30-year periods.
Big Lou Realty Life Insurance offers term life insurance policies and has a few standard features expected of term life insurance policies. Applicants can obtain term life insurance coverage without undergoing a medical exam or extensive underwriting. This streamlined approach makes it easier and quicker to secure coverage. Big Lou Realty term life insurance policies may include a conversion option, which allows policyholders to convert their term policy into a permanent policy (such as whole life or universal life) without the need for additional medical underwriting.
Universal life insurance is another type of permanent life insurance that offers flexibility in premium payments and death benefit coverage. It combines a death benefit with a cash value component that earns interest based on market performance. Universal life insurance allows policyholders to adjust their premium payments within certain limits, providing flexibility to adapt to changing financial circumstances.
Like other permanent life insurance policies universal life policies accumulate a cash value that can earn interest based on the performance of the insurer’s selected investment options. Policyholders may have the opportunity to allocate their cash value among various investment options. Universal life insurance policies may offer the option to take out policy loans against the accumulated cash value. However, it’s important to note that outstanding loans can reduce the death benefit if not repaid.
These $10,000 coverage policies have steady and affordable premiums for the life of the policy. If you are looking for great coverage with low monthly premiums, we recommend these top carriers for all of your final expense needs. This is Final Expense Benefits’ best $10,000 insurance policies for seniors.
AM Best can best be described as a rating agency focused on the creditworthiness of insurance companies worldwide. Their grading system is similar to the education system where they go from A+ to F. They measure the likelihood of a company defaulting on its financial obligations to its consumers. Each Insurance company that Big Lou Realty Life Insurance sells policies for has an AM Best Rating of A+ which is a superior rating.
JD Power uses data and AI (artificial intelligence) to understand complex consumer behavior. They are committed to providing unbiased information and embody the highest ethical and professional standards. JD Power measures several different insurance and annuity products and ranks them based on customer service and customer engagement. Some of the insurance companies Big Lou Life Insurance Realty represents are on different parts of JD Power’s survey. A handful are above the industry average but most fall below the industry average or were not surveyed at all.
The National Complaint Index (NAIC) records complaint trends for companies every year. They review the customer complaints filed for specific insurance companies. It should be noted the Big Lou Insurance Company is a brokerage firm. NAIC does not rate the specific customer reviews from brokerage firms since they often sell several companies’ worth of policies. For a comprehensive customer complaint review we have provided general reviews from their clients from other websites. They do sell insurance from companies like John Hancock and American General but their customer service reviews will not apply to the Big Lou Life Insurance company.
Big Lou Life Insurance Realty’s limited policy features and potentially higher premiums for certain health conditions should be considered when searching for life insurance. As with any life insurance decision, it’s crucial to evaluate your unique needs, compare quotes from multiple insurers, and carefully review policy terms and conditions. That coupled with the incredibly mixed customer service reviews leads us to not recommend Big Lou Life Insurance Realty when it comes to reliable customer service.
Final Expense Benefits partners with over 20 carriers with customer satisfaction guaranteed. They offer no medical exam options at much more affordable rates that fit your needs. Some of our highly-rated carriers include:
If you are looking for trusted and affordable final expense insurance, the experts at Final Expense Benefits have got you covered. Call one of our talented agents today at 1 (866) 311-4338 to get an affordable quote with one of our highly-rated insurance carriers.
Big Lou is not actually a person but is an advertising idea created by TermProvider in 2011. Essentially, “Big Lou” is the brand name for TermProvider.
If you have family or dependents who you want to support should you pass, then burial insurance is absolutely worth it.
Most final expense insurance policies do not require a health exam. You will have to answer some simple health questions in their application.
Death benefits from a burial insurance policy are not held in probate. So your loved ones should receive the death benefit very quickly.