If you’ve watched television and seen a commercial for Open Care Life Insurance, it might seem too good to be true. According to their website, Open Care’s monthly premiums start at $7.49, which sounds even better than Colonial Penn’s $9.95 Plan. However, the $7.49 monthly premium only applies to a $2,000 death benefit for a healthy, 50-year-old woman. So what exactly does that cover and what life insurance policies can you get through Open Care?
We’ll reveal all the truths behind every Open Care Life Insurance policy and answer any questions you have about your policies. However, at Final Expense Benefits, we suggest you go with an insurance broker company that is transparent with their policies and premiums.
Our agents await your call every weekday from 9 a.m. to 5 p.m. at (866) 786-0725. We will help you find the most affordable final expense insurance for your needs and give you all the details on your policy. If you aren’t comfortable talking with someone yet, we also have a unique quoting tool to show you the options.
Currently, there are four types of life insurance policies you can get through Open Care Life Insurance. Unfortunately, you won’t know exactly what policy you’ve signed up for until you ask for the information or receive your policy.
Here are the different plans Open Care Life Insurance offers:
Term life insurance policies offer coverage in different lengths. For example, if you sign up for a 20-year policy, you’ll have guaranteed payment as stated by the death benefit if the policyholder dies within the stated term.
Open Care Senior Plan Life Insurance plans are offered from $25,000 to $500,000. The term’s length can be 10, 20, or 30 years and is determined by your age upon application. Term insurance is the most lucrative type of policy regarding financial affordability, and you must qualify for term insurance with a medical exam.
If alive at the end of term, one may renew for an additional term, or convert the existing coverage to permanent coverage.
Open Care Senior Plan Burial Insurance for seniors, or Open Care Senior Plan Final Expense plans, involves final expenses such as a funeral, ceremony, cremation, burial, what have you.
These policies are similar to a guaranteed whole life policy, although at a lower premium for a lower overall payout value. Although marketed for final expenses, the payout does not actually withhold any restrictions, meaning the beneficiary may use the funds for whatever they wish.
Open Care Life Insurance isn’t an independent insurance agency, therefore they don’t offer any final expense insurance plans of their own. So whose are you getting?
Unfortunately, there is no information on their site under whose policy you’ll be purchasing. The only thing on the website giving us an indication says, “A -rating carriers across the United States”. At Final Expense Benefits, we are always transparent about the carriers you will be in touch with on the front page of any site.
Unfortunately, we couldn’t find any Open Care Life Insurance Reviews. Most insurance brokerage companies have reviews from the BBB, AM Best, the NAIC, and customer reviews, but Open Care doesn’t have anything online.
The monthly premiums for burial insurance can be pricey, but we always partner with final expense insurance that will give you the most coverage at an affordable price.
Overall, the lack of information regarding Open Care Life Insurance hurts one’s ability to trust what they promise.
There’s no credibility or way to make an informed decision yourself. The saving grace regarding this topic involves the lack of negative information online. Unless you find yourself applicable for same-day coverage term policy, we recommend utilizing other resources to achieve the desired policy.
At Final Expense Benefits, we are willing to work with you to reach an informed decision on your terms and partner with the best carriers in the nation. Here are just a few of the insurance providers we work with:
We do all the heavy lifting to reduce the stress of finding final expense insurance. Call us at (866) 786-0725 from 9 a.m. to 5 p.m. on weekdays, and our talented agents will help you find all the affordable plans with great coverage. Our quoting tool is available 24/7 to help you find insurance premiums whenever you need them.
Unfortunately, there are no online reviews for Open Care Senior Plans.
Yes, Open Care Senior Plans are legit but not transparent on their carriers or rates.
Yes, with four years being the minimum.
It heavily depends on your ability to answer the underwriting and the policy type you’re after.