While many carriers offer different final expense plans, benefits aren’t the only component that matters. Price, service, and reputation all hold considerable weight when it comes to your client’s final expense needs. That’s why CVS Health created its final expense whole life insurance policy, to offer your clients and their loved one’s peace of mind.
Coverage when it Matters Most
A funeral can be one of the largest family expenses - running $7,360 or more on average, not including the cemetery plot, tombstone, and other related costs. Plus, Social Security benefits pay only $255 to qualified dependents and the Veteran's Administration benefit offers only $300.
Fortunately, now you can give your clients peace of mind from a name they know and rely on every day: CVS Health. Their Individual Whole Life Insurance is underwritten by Accendo Insurance Company, part of the CVS Health family of companies and an Aetna affiliate, and offers:
- Similar to Med Supp, eligibility is determined by the answers to a few simple medical questions
- An available super preferred rate that’s 10% lower than the preferred rate
- Flexible coverage amounts with a low minimum policy requirement
- Easy quoting and eApp process
- Strong commission over and above your Med Supp incentives
Now’s the time started with the name that leads to peace of mind for your clients — and opportunity for you.
Multiple Plan Options and Cash Value Flexibility
The CVS Health Individual Whole Life Insurance offers two distinct options for your clients: level plans, and a modified plan. Both offer death benefits for your clients. The key difference is level plans offers clients a full face value from their policy issue date regardless if death is due to an accident or natural causes. The modified plan offers clients full face value immediately from the policy issue date if death is due to an accident.
Additionally, your clients will have cash value flexibility, meaning they’ll have non-forfeiture options that enable full or partial benefits or a partial refund of premiums after a lapse in coverage due to non-payment of premiums. These options allow clients to decrease your risk if your policy lapses due to non-payment at the end of your grace period.
More About CVS Health
CVS Health is the nation’s premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple, and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it.
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For more information regarding CVS Health’s final expense individual whole life insurance, request contracting with CVS Health through Savers Marketing.
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*Bankrate.com survey of over 1,000 U.S. adults, January 2020
**The National Funeral Directors Association, 2016
***Your clients may qualify for the super preferred rate on Final Expense if you were issued a CVS Health/Aetna company Medicare Supplement policy underwritten in the last 180 days. The Final Expense super preferred rate is 10% lower than the preferred rate.