In this Royal Neighbors of America burial insurance review we will help you understand their burial insurance products, benefits, and other information you need to know to help you decide if Royal Neighbors is right for you.
You can qualify for different plans based on your answers to their different application health questions.
This article will provide you with complete information on what Royal Neighbors is all about to help you decide if they are the best fit for you.
|ROYAL NEIGHBORS FUNERAL FUNDS 5-STAR RATING|
|Ease of Approval||★★★★★|
FOR EASIER NAVIGATION:
- Does Royal Neighbors Offer First-day Coverage?
- Pros of Royal Neighbors Burial Insurance
- Cons of Royal Neighbors Burial Insurance
- Royal Neighbors Burial Insurance Products
- Royal Neighbors Burial Insurance Riders
- When Does Royal Neighbors Burial Insurance Makes the Most Sense?
- Royal Neighbors Underwriting Guidelines
- Royal Neighbors Pricing Examples
- Getting Approved for Royal Neighbors Burial Insurance
- The Best Payment Option
- Royal Neighbors Company Overview
- How Can Funeral Funds Help Me?
DOES ROYAL NEIGHBORS INSURANCE OFFER FIRST-DAY COVERAGE?
YES, Royal Neighbors of America offers first-day coverage!
If you qualify, their simplified whole life insurance plan will give you full coverage from the first day, and your family or loved ones will receive 100% of your death benefit when you pass away.
PROS OF ROYAL NEIGHBORS BURIAL INSURANCE
Diabetic-friendly – people with type 1 and type 2 diabetes with neuropathy or retinopathy may still qualify for a first-day coverage plan.
No height and weight requirements – they do not have a build chart so this company is a great choice for overweight or obese people.
Lenient underwriting – many health issues will qualify for first-day coverage.
No activities of daily living questions – you may qualify for coverage if you cannot perform activities of daily living on your own.
Fraternal benefits – additional benefits to policyholders and their immediate family
CONS OF ROYAL NEIGHBORS BURIAL INSURANCE
Availability – Not all agents are licensed to sell their products
Coverage options – No coverage options below $7,000
ROYAL NEIGHBORS BURIAL INSURANCE PRODUCTS
There are two Royal Neighbor’s burial insurance products. Their simplified issue whole life offers 1st-day coverage, and their graded death benefit plan has a waiting period for people with more significant health conditions.
Since Funeral Funds only helps our clients with 1st-day coverage insurance, we will ignore Royal Neighbor’s graded death benefit plan in this review.
|ROYAL NEIGHBORS SIMPLIFIED ISSUE WHOLE LIFE FEATURES|
|Face amount||$7,000 – $30,000|
|No medical exam||No doctor’s visit|
|Level coverage||Coverage never decreases|
|Level premium||Premium will never increase|
|Getting started||No money down approval|
The underwriting for Royal Neighbor’s simplified issue policy is easy for most people to qualify, and their premiums are some of the most affordable available. Royal Neighbors is accepting of many health issues.
ROYAL NEIGHBORS BURIAL INSURANCE RIDERS
Royal Neighbors of America offers accelerated living benefit riders at no extra cost. You can get up to 75% of your death benefit when Royal Neighbors receives your acceleration request.
This rider provides a single lump-sum payment using a part of the life insurance death benefit before the policyholder dies. You can request a minimum of $5,000, and you can only make one acceleration.
WHEN DOES ROYAL NEIGHBORS BURIAL INSURANCE MAKES THE MOST SENSE?
One GREAT thing about Royal Neighbors is that they have no build chart for height and weight. Your weight simply doesn’t matter with this company (this is terrific for overweight individuals!)
Royal Neighbors’ whole life insurance is a great option if you have these health conditions:
- blood clots
- blood thinner use
- cystic fibrosis
- high blood pressure
- high cholesterol
- mental health issues
- transient ischemic attack or mini-stroke
ROYAL NEIGHBORS UNDERWRITING GUIDELINES
Part of Royal Neighbors of America’s underwriting process is asking health questions in the application.
Your answer to the health questions is the most important part of the Royal Neighbors’ final expense insurance application process.
Answering “YES” to any health questions in the knockout section will mean your application will not be approved.
Is the Proposed Insured currently:
- Hospitalized, in a nursing facility, or receiving Hospice Care? (YES – NO)
- Confined to a wheelchair, bed, or using oxygen equipment to assist in breathing?
Has any member of the medical profession ever diagnosed or treated proposed insured for Acquired Immune Deficiency Syndrome (AIDS), AIDS-Related Complex (ARC), or an immune deficiency disease, or has the proposed insured tested positive for the Human Immunodeficiency Virus (HIV)? (YES – NO)
Has the proposed insured ever been diagnosed as having or been treated for:
- Congestive heart failure, or had or been recommended to have an organ transplant? (YES – NO)
- Insulin shock, diabetic coma, amputation caused by disease, or taken insulin shots prior to age 30? (YES – NO)
- Dementia, Alzheimer’s Disease, or mental incapacity? (YES – NO)
During the past 18 months, has the proposed insured been diagnosed as having:
- Stroke, aneurysm, cardiomyopathy, or circulatory surgery? (YES – NO)
- Angina (chest pain), heart attack or failure, or heart surgery? (YES – NO)
During the past 24 months, has the prosed insured been diagnosed as having, or been treated for:
- Internal Cancer, Melanoma, or Leukemia? (YES – NO)
- Cirrhosis, liver disease, chronic kidney failure (including dialysis) chronic kidney disease, or systemic lupus? (YES – NO)
During the past 18 months, have you been diagnosed as having:
- Any condition expected to result in death within 12 months? (YES – NO)
- Been advised by a medical professional to have any diagnostic testing which has not been completed or for which the results have not been received? (YES – NO)
- Been recommended by a physician to have treatment or counseling for alcohol or drug abuse? (YES – NO)
During the past 24 months, has the proposed insured been diagnosed as having, or been treated for:
- Stroke, angina (chest pain), heart attack, or cardiomyopathy? (YES – NO)
- Heart or circulatory surgery (including pacemaker, heart valve replacement, bypass, angioplasty, stent implant, or any procedure to improve circulation to the heart or brain)? (YES – NO)
During the past 24 months, has the proposed insured been diagnosed as having, or been treated for:
- Emphysema, chronic obstructive pulmonary disease (COPD), or tuberculosis (TB)? (YES – NO)
- Neuromuscular disease (include Multiple Sclerosis, Lou Gehrig’s Disease, Epilepsy, or Parkinson’s Disease)? (YES – NO)
PRESCRIPTION HISTORY CHECK
Some prescription drugs are a red flag and can cause you to be declined for coverage.
For example, if you say “NO” to having AIDS but taking anti-retroviral medication to control your condition, Royal Neighbors will offer you a plan consistent with someone who has AIDS and denies your application.
You can often get approved by Royal Neighbors for first-day coverage if you take these medications for diabetes:
With many other companies, these medications can be problematic and will often result in a declined application.
ROYAL NEIGHBORS PRICING EXAMPLES
|FEMALE AGE||$10,000 ||$15,000 ||$20,000 ||$25,000
|50|| $33.71 || $49.26 || $64.81 || $80.36
|55|| $37.51 || $54.96 || $72.41 || $89.86
|60|| $38.21 || $56.01 || $73.81 || $91.61
|65|| $44.61 || $65.61 || $86.61 || $107.61
|70|| $55.61 || $82.11 || $108.61 || $135.11
|75|| $79.81 || $118.41 || $157.01 || $195.61
|MALE AGE||$10,000 ||$15,000 ||$20,000 ||$25,000
|50|| $39.61 || $58.11 || $76.61 || $95.11
|55|| $46.31 || $68.16 || $90.01 || $111.86
|60|| $50.11 || $73.86 || $97.61 || $121.36
|65|| $58.81 || $86.91 || $115.01 || $143.11
|70|| $74.81 || $110.91 || $147.01 || $183.11
|75|| $110.41 || $164.31 || $218.21 || $272.11
*Pricing for illustration purposes only and are subject to change without notice.
GETTING APPROVED FOR ROYAL NEIGHBORS BURIAL INSURANCE
Applying for burial insurance with Royal Neighbors is straightforward. You can be approved by phone or via your computer with a licensed agent.
|BURIAL INSURANCE APPLICATION PROCESS|
|Rates & coverage||Agent can help you select both|
|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 entire application process can be completed electronically in several minutes. To make your application quicker, have your important information readily available such as your address, beneficiary, and payment information.
THE BEST PAYMENT OPTION
|Savings Account||Best way to pay|
|Checking Account||Best way to pay|
|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|
|Quarterly||Not Recommended||Some Companies|
|Semi-annually||Not Recommended||Some Companies|
|Annually||Not Recommended||Some Companies|
ROYAL NEIGHBORS COMPANY OVERVIEW
Royal Neighbors of America was established in Council Bluff, Iowa, in 1895. The founding eight women were one of the first insurers in America to provide life insurance to women and children.
Royal Neighbors currently have over 200,000 members, and they have more than $2.7 billion in life insurance in force. They also have nearly $1 billion in assets. They are a stable company you can trust to pay your claim on time.
ROYAL NEIGHBORS OF AMERICA ADDITIONAL MEMBERS BENEFITS
- Retail benefits – Cashback discounts
- Legal access – family legal protection plan
- Dental program – dental discounts
- Vision program – free consultation and discounts
- Prescription drug program – prescription drug discounts
- Labs and imaging – laboratory and imaging discounts
- Hearing aid program – hearing aid discounts
- Life line screening – screening discounts
- Fraternal benefits – fraternal fund to both adult and youth
- Scholarship program – continuing education to members and their family
ROYAL NEIGHBORS FINANCIAL RATING
Royal Neighbors has an “Excellent” rating with A.M Best due to its financial strength and its timely payment of claims.
Also, Royal Neighbors has been an accredited member of the Better Business Bureau since August 1, 1986. The BBB has given them an A+ rating.
HOW CAN FUNERAL FUNDS HELP ME?
If you are looking to get burial insurance coverage from Royal Neighbors of America Life Insurance (or any insurance company) and want to ensure that you get the lowest premium possible, we recommend working with an independent life insurance agency like Funeral Funds. That way, we can help you shop and compare companies, policies, and prices.
Funeral Funds is a select few agencies licensed to help you purchase their burial and life insurance products. When you are ready to purchase coverage, we can help. Fill in the quote box to get an accurate burial insurance quote.