Royal Neighbors of America Final Expense Insurance

Written on January 4, 2019 by LJM Life Insurance

RNA Final Expense Insurance

Royal Neighbors of America Final Expense Insurance:  When we review life insurance companies in the U.S., not every insurer operates the same way. In fact, Royal Neighbors of America is a perfect example of how companies can differentiate between one another.  For a free rate quote on a Royal Neighbors of America Final Expense Insurance plan, enter your information on the quoter or give us a call at 844-528-8688.  Continue reading for details on RNA final expense life insurance plans.

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Royal Neighbors of America Final Expense Insurance

Instead of only offering financial solutions for the needs of their customers, Royal Neighbors of American also considers the needs of their customers’ families and communities as well.

In early America, women or their children were not able to purchase life insurance which kept families continually at risk financially. Then, Royal Neighbors of America was formed with a mission that would offer financial solutions for women and their families. In fact, this insurance company is still primarily run by women.

 Organized as a fraternal organization, Royal Neighbors of America is in business to address the needs of their policyholders (members) rather than create profits for stockholders like most insurers. Royal Neighbors operates as a not-for-profit organization while offering financial products to its membership and taking part in the betterment of the members’ neighborhoods and communities.

Royal Neighbors’ Financial Stability

While operating on a conservative and strong foundation, Royal Neighbors of America Final Expense Insurance continually delivers solid financial reports to its membership year after year. Here are their current financial results:

Results as of December 31, 2017

Net Admitted Assets

       $1,008,233,000

Certificate holder Surplus

       $193,634,000

Premium Income net or Reinsurance

       $104,165,000

Revenue

      $156,845,000

A.M. Best Rating

      A- (Excellent)


Click here to review RNA’s 2017 financial statement.

Insurance Products from Royal Neighbors of America

Although RNA offers multiple life insurance products, for the purposes of this review, we will first take a very close look at their Simplified Issue Whole Life Insurance since it is primarily used for Royal Neighbors of America final expense insurance.

RNA Simplified Issue Whole Life Insurance

Royal Neighbors’ Simplified Issue Whole Life Insurance is the perfect solution for seniors wanting final expense insurance at affordable rates.

Since the company offers face amounts of $5,000 to $25,000, the simplified issue product should be sufficient to cover final expenses that typically consist of funeral costs, unpaid medical bills, and nursing home or hospice expenses not paid by the insured’s health insurance plan or Medicare.

 Royal Neighbors of America understands that many seniors are dealing with health issues and for that reason, they have two different plans available:
Level Benefit Whole Life Insurance

Level benefit means that the Royal Neighbors of America final expense insurance full death benefit will be paid to the beneficiary from the first day of coverage. No waiting period is applied. The level benefit plan does require medical underwriting (no medical exam) through the insurance application and qualified applicants will receive the most competitive rates.

Underwriting Highlights:

  • Issue Ages: 50 to 85-years old
  • Face Amount: $5,000 to $25,000
  • Underwriting Classes: Male, Female, Tobacco, Non-Tobacco
Graded Death Benefit Whole Life Insurance 

The graded death benefit plan was designed as an alternative for applicants who do not medically qualify for the level benefit Simplified Issue Whole Life Royal Neighbors of America final expense insurance plan. To accommodate the increased health risk of an applicant, the face amount is limited to $10,000 and the death benefit is graded during the first two policy years:

  • If death resulting from natural causes occurs in the first year, the insurance company will pay 30% of the face amount.
  • If death from natural causes occurs in the second year, the insurance company will pay 70% of the face amount.

If death occurs in the third year and thereafter, the full face amount will be paid to the beneficiary. The two-year waiting period does not apply to deaths that are the result of accidental causes.

Underwriting Highlights:

  • Issue Ages: 50 to 85-years old
  • Face Amount: $5,000 to $25,000 ( $10,000 maximum for graded benefit)
  • Underwriting Classes: Male, Female, Tobacco, Non-Tobacco
 Accelerated Living Benefit rider available at no additional cost. (not available in all states)

Royal Neighbors of America Final Expense Insurance Rates

RNA Final Expense Life Insurance

Royal Neighbors final expense life insurance, typically always falls in the top ten of least expense final expense insurance quotes, especially when you consider their rates for women.

Here are the actual simplified issue final expense quotes for $15,000 final expense insurance for a healthy male and female non-smoker:

Applicant Age

Male Non-Smoker

Female Non-Smoker

50

$58.15

$49.20

55

$68.17

$55.02

60

$73.86

$56.05

65

$86.89

$65.64

70

$110.86

$82.08

75

$164.30

$118.40

80

$229.39

$164.30

85

$317.77

$221.85

To get accurate quotes for your actual age, you can visit our final expense insurance page for a quote or call the insurance professionals at LJM Life Insurance at 844-528-8688 during normal business hours, or email us from our contact us page.

Why Should I Consider Royal Neighbors of America Life Insurance?

Many seniors make the mistake of selecting their insurance based only on the rates. Certainly, the rates are important and you always want your insurance costs to fit within your budget, but it’s important not to make the mistake of selecting a company that is lacking in customer service standards or who drags their feet in paying their claims.

We believe that Royal Neighbors of America final expense life insurance should always be considered when your shopping your insurance needs for the following reasons:

  • Royal Neighbors of America cares not only about their policyholders, but they also focus on the policyholder’s family and community through outreach programs.
  • The company continues to receive very high ratings from A.M. Best rating services and they continue to operate from a very strong and conservative foundation.
  • When it comes to final expense insurance, Royal Neighbors of America stays competitive and is typically in the top ten for the lowest final expense insurance rates.
  • Royal Neighbors of America also offers additional benefits to every new policyholder. They offer general health and wellness discounts, disaster aid, certain legal services, and a well-funded scholarship program.
  • In our opinion, Royal Neighbors of America offers outstanding customer service to its policyholders and agents, and their claims department always responds quickly and efficiently when a claim is filed by a beneficiary.

For more information about Royal Neighbors of America Final Expense Insurance, we encourage you to call LJM Life Insurance 844-528-8688 for a free and confidential quote and we’d be happy to discuss your situation and offer the best insurance solutions to meet your individual needs.

About LJM Life Insurance
About LJM Life Insurance

We work with individuals across the nation to secure the best life insurance rates.

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