Final Expense Whole Life Insurance 100 FAQ 

General Questions About Final Expense Insurance 

 

1. What is final expense insurance?

Final expense insurance is a type of whole life insurance designed to cover funeral costs,

medical bills, and other end-of-life expenses.

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2. How is final expense insurance different from regular life insurance?

It has lower coverage amounts ($2,000–$30,000), focuses on funeral/burial expenses,

 has simplified underwriting and usually pays most claims in 24 hours.

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3. Who should consider final expense insurance?

Seniors, individuals with health issues, or anyone who wants to ensure their funeral costs

aren’t a burden on their family.

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4. Does final expense insurance expire?

No, as long as you keep paying premiums, coverage remains in effect for life.

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5. Can I get final expense insurance if I have a pre-existing condition?

Yes, you are accepted with health conditions, though premiums may be

higher.

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6. What’s the typical coverage amount for final expense insurance?

Policies typically range from $2,000 to $30,000.

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7. How long does it take to get approved?

Some policies offer instant approval, while others may take a few days to a few weeks.

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8. Can I purchase final expense insurance for my parents?

Yes, with their consent, you can purchase a policy for them.

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9. What happens if I stop paying my premiums?

The policy may lapse, or the insurer may reduce the death benefit based on paid premiums.

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10. Is final expense insurance worth it?

If you don’t have other funds set aside for funeral costs, it can provide essential financial

relief to your family.

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 Coverage & Benefits

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11. Does final expense insurance cover funeral costs?

Yes, it is specifically designed to help cover funeral and burial expenses.

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12. Can final expense insurance be used for debts or medical bills?

Yes, beneficiaries can use the payout for any purpose, including medical bills, debts, or legal costs.

 

13. Does final expense insurance provide a payout if I die from natural causes?

Yes, most policies pay for both natural and accidental deaths.

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14. Are accidental deaths covered immediately?

Yes, most policies pay out immediately for accidental deaths.

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15. What is the waiting period for final expense insurance?

Some policies have a 2-3 year waiting period before covering natural death; others offer

immediate coverage if you qualify.  Accidental death pays out immediately.

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16. Can I get a policy without a medical exam?

Yes, a medical exam is not required, just some simple health questions to qualify you for the lowest cost for your policy.

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17. Does the payout amount ever change?

No, as long as premiums are paid, the death benefit stays the same. The accidental death benefit rider will pay an additional payout equal to the face value, if death by accident.

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18. Can my policy build cash value?

Yes, whole life final expense policies accumulate cash value over time.  You will get a schedule in your policy showing the cash value for each policy year.

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19. Can I borrow against my final expense policy?

Yes, you can take out a policy loan, but unpaid loans reduce the death benefit.

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20. Are there exclusions in final expense insurance?

Some policies have limited benefit periods for natural deaths and exclusions for suicide within the first two years.

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Costs & Premiums

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21. How much does final expense insurance cost?

Premiums vary based on age, health, and coverage amount, typically starting at $30–$100

per month.

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22. Do final expense premiums increase over time?

No, premiums remain level for life.

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23. What factors affect the cost of my premium?

Age, gender, health history, coverage amount, and tobacco use.

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24. Do I have to pay my premium for life?

Yes, unless the policy offers a paid-up option after a certain period.

With the cash value growth, after a sufficient number of years, you may decide to surrender the policy for the cash value and pay no more premiums or decide to convert it to a smaller paid up policy and pay no more premiums.

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25. What happens if I miss a premium payment?

There’s  a 30-day grace period before the policy lapses.

 

26. Can I pay my premiums annually instead of monthly?

Yes, and you get a 2% premium discount if you pay a year in advace.

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27. Are final expense premiums tax-deductible?

No, life insurance premiums are not tax-deductible.

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28. Can I get a refund if I cancel my policy?

Some policies offer a cash surrender value, but generally, no refund is provided.

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29. Do non-smokers pay lower premiums?

Yes, tobacco users often pay higher premiums.

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30. Are there any discounts available for final expense insurance?

Not discounts, but the younger and healthier the applicant, the lower the cost.  Women are qualified for lower rates because their life expectancy is greater.

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Eligibility & Qualification

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31. What is the age limit for final expense insurance?

Dan Mullin Insurance can provide a policy for all ages 0 through 85, and coverage lasts a lifetime.

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32. Can I get final expense insurance if I have cancer?

Yes, but you may be offered a modified or guaranteed issue policy with a limited benefit period of 2-3 years.

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33. Does diabetes affect my ability to get coverage?

Controlled diabetes usually doesn’t, but insulin-dependent cases may pay higher premiums.

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34. Do I need a medical exam to qualify?

No, just answer some simple health questions to get the best rate you qualify for.

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35. Can I qualify if I have a history of heart disease?

Yes, but your policy type (immediate or limited benefit) depends on severity.

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36. Will my application be denied for past drug use?

Not always, but recent drug use may result in a limited benefit period.

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37. How long does it take to get approved?

Approval can be instant or take a few days to weeks, depending on the policy.

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38. Can I qualify if I have had a stroke?

Yes, but it may be for a modified or guaranteed issue plan.

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39. Does being overweight affect my eligibility?

Generally, no, unless there are serious related health issues.

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40. What happens if I’m declined?

You can apply for a modified or guaranteed issue policy, which accepts all applicants but has a 2-3 year limited benefit period. Accidental death would still be covered from day one.

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Beneficiary Rules & Payouts

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41. Who can I name as my beneficiary?

Anyone, including family, friends, or a funeral home.

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42. Can I have multiple beneficiaries?

Yes, you can split the death benefit among multiple people.

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43. Can my beneficiary be changed later?

Yes, you can update your beneficiary at any time.

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44. What happens if my beneficiary passes away before me?

The payout will go to your contingent beneficiary, or your estate if no one is named.

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45. How soon will my beneficiary receive the payout?

Typically within 24 hours after all required documents are submitted.

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46. Is the death benefit taxable?

No, life insurance payouts are not taxable to the beneficiary.

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47. Can the payout be used for anything?

Yes, your beneficiary can use it for funeral costs, debts, medical bills, or personal expenses.

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48. Does Dan Mullin Insurance offer an accidental death benefit?

Yes, if death is due to an accident, the policy pays an additional payout equal to the face value.  The accidental death benefit is in effect from day one, even for those with significant health issues.

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49. How does the accidental death rider work?

If death is accidental, your beneficiary receives an additional payout equal to the policy’s

face value. The accidental death benefit is in effect from day one, even for those with significant health issues.

 

50. Can I name a charity as my beneficiary?

Yes, charitable organizations can be named as primary or secondary beneficiaries.

Claims & Payout Process

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51. How does my beneficiary file a claim?

The beneficiary would submit a death certificate, and other required forms to the insurance company. 

 

This can be done on the insurance company’s web site or started through a phone call.

52. How long does it take to process a claim?

Most claims are processed in 24 hours after receiving the required documents.

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53. Are there situations where a claim could be denied?

Yes, the payout could be reduced if death occurs during a limited benefit period for a modified or guaranteed issue policy or due to fraud or policy lapse.  Unpaid loan or interest borrowed against the cash value would be taken out of the benefit amount. Also if death occurs during the first 2 years of the policy, the insurance company has the right to verify the validity of the health answers given at the time of enrollment.  This is called the contestability period.  Death by suicide during the first 2 years of the policy would result in refund of premiums, instead of the full death benefit.

 

54. Does the policy cover suicide?

If suicide occurs within two years of policy issuance, the premiums are refunded instead of a payout.

 

55. What documents are required for a claim?

Death certificate, policy number, and claimant’s identification.

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56. Can a funeral home file the claim for my family?

Yes, some funeral homes assist with filing claims directly, however, the beneficiary can usually control costs and spending better by receiving the payout and then spending it wisely, taking advantage of proper negotiations and considering purchasing funeral merchandise elsewhere at a lower cost.

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57. What if my beneficiary can’t be found?

The payout is held until the beneficiary is located, or it may go to your estate.

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58. What if my beneficiary is a minor?

A legal guardian or trust must be designated to manage the funds.

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59. Is there a time limit for filing a claim?

No, but it’s best to file as soon as possible to avoid delays.

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60. Can the payout be direct deposited?

Yes, most insurers offer direct deposit options for beneficiaries.

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Policy Types Riders

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61. Does Dan Mullin Insurance offer different types of final expense policies?

Yes, options include immediate coverage, modified, and guaranteed issue policies.

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62. What is an immediate coverage policy?

It pays the full death benefit from day one, with no waiting period, even for natural death.

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63. What is a modified  benefit policy?

It partially pays out if natural death occurs within the first 2 years.  The pay out would be 110% of all of the premiums paid up to that point. After the 2 years, there is full coverage. Death by accident pays full face value from day one, and results in twice the face value if death occurs after the 2 years.

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64. What is a guaranteed issue policy?

A no-health-questions policy with a three-year limited benefit period before full coverage applies. It partially pays out if natural death occurs within the first 3 years.  The pay out would be 110% of all of the premiums paid up to that point. After the 3 years, there is full coverage.  Death by accident pays full face value from day one, and results in twice the face value if death occurs after the 3 years.

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65. What riders are available with Dan Mullin Insurance?

Accidental Death Benefit Rider (pays additional face value payout for accidental death).

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66. Can I add a child rider to my policy?

Yes, child riders are available as part of your policy.

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67. What is the cash value in a whole life policy?

A portion of premiums accumulates as savings you can borrow against.

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68. Can I convert my final expense policy into a larger policy?

No, final expense insurance cannot be converted into a term or larger whole life policy, however, you can usually purchase additional life insurance policies for a greater cumulative death benefit.

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69. Is final expense insurance available for veterans?

Yes, veterans can apply, and it can complement VA burial benefits.

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70. Does the policy cover cremation expenses?

Yes, the payout can be used for cremation, traditional burial, or other funeral costs.

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Policy Ownership Portability

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71. Can I transfer ownership of my policy?

Yes, policies can be transferred through an ownership change form.

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72. What happens if I move to another state?

Your policy remains active nationwide.

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73. Can my policy be canceled?

Not by the insurance company as long as the premiums are paid.  You, as the owner of the policy can cancel at any time, but no refund is given unless there’s cash surrender value.

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74. Does my policy lapse if I’m hospitalized?

No, as long as premiums are paid, coverage remains active.  At the time of enrollment, can authorize the feature of having the cash value make the premium payments for you, if you miss payments, so you don’t lose your policy.  This would work only if there was enough cash value built up when the premium is due.

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75. Can I name a trust as my beneficiary?

Yes, policies can be assigned to a trust.

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76. Can I change my coverage amount later?

No, but you can purchase additional policies for more coverage.

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77. What happens if Dan Mullin Insurance closes?

You can also deal directly with the insurance company that underwrote your policy.  Policies are backed by state insurance guaranty associations, ensuring protection.

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78. Can I pay my premiums in advance?

Yes, and you can save 2% off the premiums by paying a year in advance.

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79. Does my policy have a reinstatement period?

Yes, typically within 30 days of lapsing, with possible reinstatement up to six months.

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80. Can I purchase a joint final expense policy with my spouse?

No, each policy is for an individual, but spouses can buy separate policies.

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Common Concerns & Misconceptions

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81. Is final expense insurance the same as pre-need funeral insurance?

No, pre-need plans are tied to specific funeral homes, while final expense gives a cash

payout.

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82. Is a will required for my beneficiary to receive the payout?

No, life insurance bypasses probate and goes directly to beneficiaries.

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83. Can I outlive my final expense insurance?

No, it lasts your entire lifetime as long as premiums are paid.

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84. Do I have to use the payout for a funeral?

No, the beneficiary can use it for any purpose.

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85. Is final expense insurance only for seniors?

No, younger individuals can apply, but it’s most popular among seniors. You might consider purchasing policies for children and grandchildren.  It would be very inexpensive and the low rates would not increase as long as the premiums are paid.

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86. Can Medicaid take my life insurance payout?

No, as long as the beneficiary is someone other than your estate.

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87. What if I live longer than expected?

Your policy remains in force for life.

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88. Are online quotes accurate?

They provide estimates—final pricing depends on underwriting approval. It’s best to call Dan Mullin Insurance at 202-285-9911.

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89. Can I name a funeral home as my beneficiary?

Yes, but it’s recommended to name a trusted person instead.

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90. Does Dan Mullin Insurance offer a money-back guarantee?

If canceled within the 20-day free-look period, you get a full refund of premium paid.

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How to Apply & Compare Policies

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91. How do I apply for final expense insurance with Dan Mullin Insurance?

It is best to call Dan Mullin Insurance directly: 202-285-9911.  You will get properly qualified and informed of your choices and prices.  All of your questions and concerns will be carefully answered. Valuable information can also be found on DanMullinInsurance.com.

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92. What information do I need to apply?

Basic personal details, health history and prescriptions, beneficiary information, and a checking account that you would authorize for monthly direct drafts.  You choose the most convenient date for the monthly drafts.  It could also be set for a given Wednesday of each month to match your Social Security direct deposits.

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93. How long does it take to get approved?

 

Approval can be instant or take up to a few weeks, depending on your health and policy

type.

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94. What if I am denied coverage?

You may still qualify for a modified or guaranteed issue policy, which has a limited

 benefit period of 2-3 years.  Guaranteed issue policies have no health questions, but are more expensive.

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95. How do I choose the right final expense policy?

Consider coverage amount ($30,000 max from Dan Mullin Insurance), monthly premium,

Immediate vs. limited benefit policies, included riders like accidental death and value-added features, such as a funeral cost-savings and negotiation membership service that can help save your family thousands of dollars on the cost of a funeral.

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96. What should I look for when comparing policies?

Compare premiums, coverage limits, riders, immediate vs limited benefit periods, and company reputation, as well available customer service and agent support.

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97. Is it better to buy from an agent or online?

Dan Mullin Insurance can carefully answer questions and tailor coverage to your needs, while online offers convenience and speed.

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98. Can I buy multiple final expense policies?

Yes, you can own more than one policy as long as the total coverage meets insurer limits.

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99. What should I ask an agent before purchasing?

Ask about coverage options, premium stability, riders, exclusions, and how claims are

handled. Also ask about customer support, agent accessibility and value-added features, such as membership in a funeral cost-savings and negotiation service that can help a family save thousands of dollars on the cost of a funeral and has funeral merchandise at locked-in, discounted prices that will never go up.

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100. Where can I get a quote for Dan Mullin Insurance’s final expense policies?

Call directly at 202-285-9911.  You may also visit DanMullinInsurance.com for more details and helpful information.

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 Value-Added Features that come with your policy from

Dan Mullin Insurance 10 FAQ

1. Does Dan Mullin Insurance offer any additional benefits with final expense policies?

Yes, policyholders become members of a separate funeral cost negotiation service that

helps families avoid overpaying for funerals.

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 2. Is the funeral cost negotiation service part of the life insurance policy?

No, it is a separate membership company and is not part of the life insurance policy.

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3. How does the funeral cost negotiation service work?

When the insured passes, the family member in charge of funeral planning calls the

negotiation service first before making any decisions with the funeral home. This ensures

the best results and maximizes savings.

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4. What funeral merchandise is available through this service?

Members have access to locked-in pricing for high-quality funeral merchandise, including:

- Caskets: $2,000

- Liners: $1,000

- Monuments: Starting at $850

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5. Are these prices guaranteed to stay the same?

Yes, once membership is in place, these prices are locked in for life and will never increase.

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6. Can my family choose to use these benefits or opt for another provider?

Yes, your family can choose any funeral provider, but using the negotiation service can save thousands of dollars.

 

7. Are funeral homes required to accept outside funeral merchandise?

Yes. Under the Federal Trade Commission (FTC) Funeral Rule, all funeral homes in the

United States must allow families to use funeral merchandise purchased from an outside

provider. They cannot require that merchandise be purchased directly from them.

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8. How does the funeral merchandise ordering process work?

The family calls the negotiation service first to discuss options and place an order for

caskets, liners, or monuments. The merchandise is then delivered directly to the funeral

home of their choice.

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9. How can my family access the funeral cost negotiation service when needed?

They simply call the dedicated number provided with their membership, and a

representative will handle negotiations and merchandise ordering on their behalf.

 

10. How can I get more information or help with this process?

Contact Dan Mullin Insurance

If you have any questions, or concerns contact Dan Mullin Insurance:

Phone: 202-285-9911 (calls & texts accepted)

Email: danmullin@danmullininsurance.com

Website: danmullininsurance.com (Includes a 24/7 AI chat function to answer questions in real time.