2024 Oxford Life Burial Insurance Review – Pros & Cons
last updated on July 22, 2024Our Oxford Life burial insurance review will provide information on their burial insurance or final expense plans for seniors.
Choosing the right burial insurance and insurance company is critical. With hundreds of insurance companies in the market, we will help you find what’s right for you.
This article will discuss Oxford Life burial insurance products to understand their final expense offerings better and help you decide if they are the right company for you.
| OXFORD LIFE FUNERAL FUNDS 5-STAR RATING | |
|---|---|
| First-day Coverage | ★★★★★ |
| Ease of Approval | ★★ |
| Coverage Amount | ★★★★ |
| Pricing | ★★★★★ |
| Riders | ★★★★ |
FOR EASIER NAVIGATION:
- Does Oxford Life Offer First-day Coverage?
- Pros of Oxford Life Burial Insurance
- Cons of Oxford Life Burial Insurance
- Oxford Life Burial Insurance Products
- Oxford Life Burial Insurance Riders
- When Does Oxford Life Burial Insurance Make the Most Sense?
- Oxford Life Underwriting Guidelines
- Oxford Life Pricing Examples
- Getting Approved for Oxford Life Burial Insurance
- The Best Payment Option
- Oxford Life Company Overview
- How Can Funeral Funds Help Me?
- Additional Questions & Answers On Oxford Life Burial Insurance Review
Does Oxford Life Offer First-day Coverage?
YES, Oxford Life offers burial insurance plans with first-day coverage; they are competitively priced with other companies.
If you qualify, their Assurance whole life insurance plans come with immediate first-day coverage. You will be 100% covered from the first day, and your beneficiary will receive your full death benefit when you pass away.
Pros Of Oxford Life Burial Insurance
First-day coverage – Assurance and Assurance One both have first-day coverage.
Immediate decision – you will instantly know if you qualify after submitting your application.
Competitively priced – affordable premiums
Cons Of Oxford Life Burial Insurance
Strict underwriting – only healthier people can qualify for this coverage
Not available online – insurance agents must visit your home to sell this insurance.
Oxford Life Burial Insurance Products
Oxford Life calls their burial insurance plans Assurance and Assurance One. The two plans have the same benefits except for how you choose to pay the premiums.
With Oxford’s Assurance whole life plan, you can pay the premium monthly, quarterly, or annually. This is a final expense life insurance, no exam,
Assurance One, it’s a single-premium policy, so you need to pay one premium to fund the policy.
ASSURANCE – Policy Features
| OXFORD LIFE BURIAL INSURANCE FEATURES | |
|---|---|
| First-day coverage | YES |
| No medical exam | Yes |
| Immediate approval | approval after the interview |
| Issue ages | 50-85 years old |
| Coverage amount | $5,000 - $30,000 |
| Level coverage | death benefit will never decrease |
| Level premium | premium will never increase |
| Not cancelable | will never cancel at age 80 |
| Cash value build up | accumulate cash value |
| Policy loan | cash value can be borrowed |
Assurance burial insurance comes with immediate first-day coverage, which means the benefit payout will be 100% of the face amount, whether you die one day or three years after buying the policy.
ASSURANCE ONE – Single-Premium Burial Insurance
“Assurance One” is a single premium whole life insurance policy offered by Oxford Life. Single premium life (SPL) requires one lump-sum payment for the coverage to be fully paid. In return, you get a guaranteed full death benefit that will pay your beneficiary when you pass away.
One of the most significant advantages of Assurance One is that the cash value builds up quickly because your policy is fully funded.
Another notable benefit of Oxford Life’s Assurance One is that your single premium will give you first-day full coverage.
If you choose to surrender your policy, you will receive 100% of your premiums back.
Oxford Life Burial Insurance Riders
- Terminal Illness Rider – paid in when a physician has diagnosed you to have a terminal illness that may cause death within 12 months.
- Common Carrier Rider – paid in the event of accidental death while riding as a fare-paying passenger on a common carrier conveyance (plane, train, bus, or Uber)
- Nursing Home Rider: This benefit allows you to collect a monthly benefit if you are confined to a nursing home and expected to stay there forever. The amount you can get determines how many years the policy is in force before you make a claim.
- Chronic Illness Rider: This benefit allows you to collect a monthly benefit if ever you were diagnosed with a chronic illness. Your monthly benefit amount equals the lesser of $2,000 or 1% of your death benefit.
When Does Oxford Life Burial Insurance Make The Most Sense?
Oxford Life burial insurance products make the most sense in these instances:
Oxford Life is diabetic-friendly – as long as you do not have diabetes before age 30, you will qualify for coverage even if you take insulin.
Liberal on cancer – you will qualify for coverage if you’ve had no cancer or treatment for two years or longer.
Liberal on some heart issues – heart attacks, stents, and strokes would qualify for coverage if they occurred for two years or longer. Atrial fibrillation is not an issue.
Marijuana use – is not an issue, and you will still qualify for first-day coverage.
Oxford Life also has competitive prices when it comes to burial insurance, especially if you are healthy and can qualify for their plans.
Oxford Life Underwriting Guidelines
Oxford Life requires you to be within their standard height and weight range. Your agent will check this before they apply.
Most importantly, your answer to the health questionnaire will determine if you will be eligible for coverage.
Here’s a copy of the health questions you will see on the application:
HEALTH QUESTIONS:
If any question in this section is answered, “Yes,” or your application will be declined if height and weight exceed the maximum range.
- What is the proposed insured’s height and weight? (Yes – No)
- Have you had, or been advised by a member of the medical profession as having a terminal illness an illness that would reasonably be expected to cause death within 12 months), or have you been diagnosed, treated (including dialysis) or taken medication for chronic kidney disease or kidney (renal) insufficiency or kidney or liver failure or do you have paralysis of two or more extremities? (Yes – No)
- Have you tested positive for exposure to the HIV
infection HIV antibodies in a test taken for the purpose of obtaining insurance or have you been diagnosed by a physician as having Acquired Immune Deficiency Syndrome (AIDS), AIDS-related complex (ARC) caused by HIV infection or other sickness or condition derived from such infection? (Yes – No) - Are you currently: hospitalized, confined to a bed or nursing facility, or using oxygen equipment to assist in breathing, or receiving Hospice Care? (Yes – No)
- Have you been diagnosed by a member of the medical profession with diabetes prior to age 30 or have you been treated by a member of the medical profession for: insulin shock, diabetic coma, retinopathy, or diabetic neuropathy? (Yes – No)
- Have you ever been medically diagnosed, treated, or taken medication for congestive heart failure (CHF), cardiomyopathy, Alzheimer’s, dementia, organic brain syndrome, schizophrenia, bipolar disorder, organic brain syndrome (acute or chronic mental dysfunction or mental incapacity, Lou Gehrig’s disease (ALS), or Huntington’s disease? (Yes – No)
- Within the past 24 months, have you been confined more than twice to a hospital, nursing facility, convalescent care facility, assisted living facility, mental facility, or Hospice Care? (Yes – No)
- Within the past 24 months, have you been diagnosed or treated by a member of the medical profession for: internal cancer or melanoma, leukemia, lymphoma, stroke, transient ischemic attack (TIA), or have you had an amputation caused by any disease? (Yes – No)
- Have you been diagnosed or treated by a member of the medical profession for more than one occurrence or any metastasis of any cancer in your lifetime (excluding basal or squamous cell skin cancer), or are you currently being treated for cancer or recurrence of cancer? (Yes – No)
- Within the past 24 months have you:
a. been medically diagnosed, treated by a member of the medical profession or taken medication for angina, chronic hepatitis, cystic fibrosis, Pulmonary Fibrosis, chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, respiratory failure or required oxygen equipment to assist in breathing? (Yes – No)
b.been medically diagnosed as having, been treated by a member of the medical profession or hospitalized for: heart attack, heart disease, heart or circulatory surgery (including pacemaker, by-pass, heart valve replacement, angioplasty or stent implant), uncontrolled high blood pressure or any procedure to improve circulation to the heart or brain? (Yes – No)
c. been medically diagnosed or treated by a member of the medical profession for: Hodgkin’s Disease, cirrhosis, liver disease, or systemic lupus (SLE) any neuromuscular disease, cerebral palsy, multiple sclerosis, or Parkinson’s disease)? (Yes – No) - Within the past 10 years, have you been convicted of a felony, or are you currently on parole or on probation? (Yes – No)
- Within the last 5 years have you been treated for, been advised by a medical professional to have treatment for, or excessively used, alcohol or any drugs of abuse, or have you been convicted of operating a vehicle while impaired or under the influence of alcohol or any drugs, or had your driver’s license suspended or revoked, or attempted suicide? (Yes – No)
- Have you been declined or postponed for life or health insurance in the past two years? (Yes – No)
- Do you currently require human assistance or supervision with any specified activities such as: eating, bathing
, , bathing, transferring from bed to chair, walking or maintaining continence? (Yes – No)
STANDARD SECTION – If any question in this section is answered “Yes,” it may not necessarily exclude coverage.
Other eligibility considerations:
- Are you taking or have you been prescribed medication by a member of the medical profession for any impairment mentioned above? (Yes – No)
- Within the past 12 months, have you used any nicotine-based products, any form of electronic cigarette
- Have you applied for life insurance with other insurance companies in the last two years? (Yes – No)
- Proposed Insured’s driver’s license number_______________
Oxford Life Pricing Examples
| FEMALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 | $30,000 |
|---|---|---|---|---|---|---|
| 50 | $13.80 | $24.35 | $34.90 | $45.45 | $55.99 | $66.54 |
| 55 | $15.50 | $27.74 | $39.99 | $52.23 | $64.48 | $76.72 |
| 60 | $18.48 | $33.72 | $48.95 | $64.18 | $79.42 | $94.65 |
| 65 | $23.18 | $43.10 | $63.03 | $82.96 | $102.89 | $122.81 |
| 70 | $28.62 | $53.99 | $79.36 | $104.73 | $130.10 | $155.47 |
| 75 | $38.51 | $73.76 | $109.02 | $144.28 | $179.53 | $214.79 |
| 80 | $54.91 | $106.57 | $158.23 | $209.89 | $261.55 | $313.21 |
| 85 | $80.01 | $156.78 | $233.54 | $310.31 | $387.07 | $463.84 |
| MALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 | $30,000 |
|---|---|---|---|---|---|---|
| 50 | $16.08 | $28.91 | $41.73 | $54.56 | $67.39 | $80.22 |
| 55 | $18.76 | $34.27 | $49.79 | $65.30 | $80.81 | $96.32 |
| 60 | $22.36 | $41.48 | $60.59 | $79.71 | $98.82 | $117.93 |
| 65 | $29.19 | $55.13 | $81.07 | $107.01 | $132.95 | $158.88 |
| 70 | $36.96 | $70.68 | $104.39 | $138.10 | $171.81 | $205.53 |
| 75 | $49.73 | $96.22 | $142.70 | $189.19 | $235.67 | $282.15 |
| 80 | $71.51 | $139.77 | $208.03 | $276.29 | $344.55 | $412.81 |
| 85 | $98.01 | $192.78 | $287.54 | $382.31 | $477.07 | $571.84 |
Getting Approved For Oxford Life Burial Insurance
| BURIAL INSURANCE APPLICATION PROCESS | |
|---|---|
| Rates & coverage | Agent can help provide help with this |
| Underwriting | Agent will help you qualify for the best plan |
| Beneficiary | You determine who will get your death benefit |
| Application | Agent submits application to insurance company |
| Approval | Congratulations on your new policy! |
| Policy start date | Policy active after 1st payment date |
| Policy delivery | 7-10 business days after first draft date |
The Best Payment Option
| PAYMENT METHOD | RECOMMENDED? |
|---|---|
| Savings Account | Best way to pay |
| Checking Account | Best way to pay |
| Cash | Not recommended |
| Money Order | Not recommended |
| Cashier's Check | Not recommended |
| Debit Card | Not recommended |
| Credit Card | Not recommended |
| Direct Express | Not recommended |
| PAYMENT FREQUENCY | RECOMMENDED | ACCEPTED BY |
|---|---|---|
| Monthly | Recommended | All Companies |
| Quarterly | Not Recommended | Some Companies |
| Semi-annually | Not Recommended | Some Companies |
| Annually | Not Recommended | Some Companies |
Oxford Life Company Overview
Oxford Life Insurance Company was organized and incorporated as a limited capital stock life and disability insurer in Arizona on July 27, 1965. They are a wholly-owned subsidiary of AMERCO.
On November 21, 1997, Oxford Life purchased 100% of the share of Encore Financial Inc., the parent company of North American Insurance Company. NAI merged with Encore Financial, becoming a subsidiary of Oxford Life.
In November 2000, Oxford Life purchased Christian Fidelity Life Insurance Company. Oxford life is licensed in 48 states and DC. Oxford Life and its subsidiaries North American Insurance and Christian Fidelity Life offer products to the senior market, including burial insurance whole life, single premium whole life, fixed indexed annuities, and Medicare supplement products.
OXFORD LIFE FINANCIAL STRENGTH
A.M. Best awarded Oxford Life Insurance an A (Excellent) rating. This means the company is financially solvent and has enough reserves to pay its policyholder’s claims in due time.
A.M. Best is a well-respected financial agency. That’s why we always look at their rating when reviewing the financial strength of insurance companies. A good score from A.M. Best shows that a company is financially stable and can continue operations in the future.
How Can Funeral Funds Help Me?
Finding a policy if you want Oxford Life burial insurance needn’t be frustrating; working with an independent agency like Funeral Funds will make the process easier and quicker.
We will work with you at every step to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time searching for multiple insurance companies because we will do the work for you.
We will shop your case at different insurance carriers and get you the best price.
We work with many A+ rated insurance carriers that specialize in covering high-risk clients like you. We will search for all the best companies and match you up with the best burial insurance company that gives the best rate.
We will assist you in securing the coverage you need at a rate you can afford. So, if you are looking for Oxford Life funeral insurance, Oxford Life burial insurance, or Oxford life insurance.
Fill out our quote form on this page or call us at 888) 862-9456, and we can give you an accurate quote.
Additional Questions & Answers On Oxford Life Burial Insurance Review
Is Oxford Life Insurance still in business?
Yes, Oxford Life Insurance is still in business.
Is Oxford Life Insurance legitimate?
Yes, Oxford Life Insurance is a legitimate company providing insurance and financial services.
Who owns Oxford life insurance?
Oxford Life Insurance Company is owned by AMERCO, a publicly-traded financial holding company.
How long has Oxford been in business?
Oxford Life Insurance has been in business for 57 years, the company was founded in 1965.
What is Oxford’s financial rating?
Oxford Life Insurance has a financial rating of A (Excellent) from A.M. Best, one of the leading independent insurance rating agencies.
What is Oxford’s website?
The Oxford Life Insurance website is https://www.oxfordlife.com/.
What are the company’s hours of operation?
The Oxford Life Insurance customer service department is open from Monday through Friday, 8:00 a.m. to 7:00 p.m.
What is Oxford life insurance phone number?
The Oxford Life Insurance phone number is 866-641-9999.
What is the company’s mailing address?
The mailing address for Oxford Life Insurance is:
Oxford Life Insurance Company
2721 N Central Ave
Phoenix, AZ 85004
What is Oxford’s fax number??
Oxford’s fax number is 877-584-2777.
What is Oxford’s email address?
Oxford’s email address is oxfordphs@oxfordlife.com
What is Oxford’s members’ login?
The Oxford Life Insurance members’ login is https://www.oxfordlife.com/Login.aspx.
Where is Oxford located?
Oxford is headquartered in Phoenix, Arizona.
What are Oxford’s products?
Oxford offers a variety of life insurance products, including term life, whole life, universal life, and variable life insurance policies.
What is Oxford’s corporate address?
Oxford corporate address is: Oxford Life Insurance Company 2721 N Central Ave Phoenix, AZ 85004
Where can I find Oxford life insurance reviews?
Keep reading to find out how Oxford measures up from other insurance companies.
Where can I find Oxford BBB reviews?
The Oxford BBB reviews can be found here: https://www.bbb.org/us/az/phoenix/profile/life-insurance-companies/oxford-life-insurance-company-0443-90023851.
How can I get an Oxford life insurance quote?
You can get an Oxford life insurance quote by answering the quote form on this page.
How can I make Oxford insurance online payment?
You can make an Oxford insurance online payment by logging into your account on the Oxford website and clicking on the “Make a Payment” link.
How can I access Oxford’s life insurance claim form?
You can access Oxford’s life insurance claim form by logging into your account on the Oxford website and clicking on the “File a Claim” link.
Where can I check Oxford’s life insurance complaints?
You can check Oxford’s life insurance complaints by visiting the National Association of Insurance Commissioners (NAIC) website. The website is https://www.naic.org/complaint_search.htm, and you can search for Oxford Life Insurance by name.
What are the different life insurance products offered by Oxford?
Oxford offers a variety of life insurance products, including term life, whole life, universal life, and variable life insurance policies.
How old do you have to be to apply for Oxford insurance coverage?
The minimum age to apply for Oxford insurance coverage is 18.
Can I get life insurance with Oxford if I am not a U.S. citizen?
No, Oxford insurance is available only to U.S. citizens and permanent residents.
Can you get first-day coverage with Oxford?
Yes, you can get first-day coverage with Oxford.
What are the pros and cons of Oxford life insurance?
Keep reading to find out what people like and don’t like about Oxford life insurance.
What does Oxford life insurance cost?
Oxford life insurance costs depend on age, gender, coverage amount, and location.
Where can I get Oxford insurance pricing?
To get Oxford insurance pricing, please answer the quote form on this page.
Is Oxford an A-rated life insurance company?
Yes, Oxford is an A-rated life insurance company.
Is Oxford insurance expensive?
Oxford insurance is not necessarily expensive, but it depends on your coverage and other factors.
Can I pay Oxford life insurance premiums with a credit card?
Yes, you can pay Oxford life insurance premiums with a credit card.
Can I get whole life insurance from Oxford?
Yes, you can get whole life insurance from Oxford.
Can I get term life insurance from Oxford?
Yes, you can get term life insurance from Oxford.
Do you need a medical exam to qualify for Oxford life insurance?
No, you do not need a medical exam to qualify for Oxford life insurance.
Does Oxford ask health questions?
Oxford asks health questions for their first-day coverage plan.
Does Oxford have a waiting period for?
Oxford does not have a waiting period, they offer a first-day coverage plan.
Does Oxford life insurance accumulate Oxford life insurance accumulates cash value?
Oxford’s whole life insurance does accumulate cash value.
What other benefits does Oxford offers?
Oxford offers insurance riders as additional benefits to policyholders.
Does Oxford life insurance expire?
Oxford’s whole life insurance does not expire.
How can I find a replacement for my Oxford insurance policy?
Work with an independent insurance agent to help you find a better policy than your Oxford insurance.
How do I cancel my Oxford insurance policy??
You can cancel your Oxford insurance policy by contacting the company directly.
Can I renew my Oxford life insurance policy?
Yes, you can renew your Oxford life insurance policy.
2 Comments
Michael Hinds
Need brochure.
Funeral Funds
Michael – Here is our buyer's guide page for you to check out. https://funeralfunds.com/buyers-guide/