Burial Insurance for Seniors – Review of KSKJ Life

With about 800 life insurance companies doing business in the U.S., it's no wonder some companies are less well-known than others. In fact, if every life insurer advertised on TV like the likes of MetLife, Colonial Penn, or Lincoln Heritage, there would be little time for car or beer commercials. KSKJ Life is one of those little-known companies, but don't let that knock them off of your shopping list because you may end up leaving money on the table.

Who Is KSKJ Life?

KSKJ is an acronym for “Kranjsko Slovenska Jednota” which translates to “Carniolan Slovene Catholic Union” a very old fraternal organization that was originally founded in the U.S. in 1894.

Although KSKJ was created to protect Slovenian immigrants from the financial devastation that can be experienced after the loss of a breadwinner in the family, it has grown to become a very competitive national insurer available to everyone.

Although this fraternal life insurer has grown well beyond its original scope and mission, the company remains true to its core values and heritage. They continue to advocate for their members (policyholders) and their members' communities. Most of the large insurer's consumers come into contact with do not have the history that this company loves to talk about.

Not unlike other life insurance carriers, KSKJ does not offer products in every state. In the states that they do market in, KSKJ offers various types of life insurance products and annuities.

KSKJ Life Insurance Products

Although frequently done in error, life insurance should never be a cookie-cutter product where one size fits all. Not only are every individual’s circumstances unique, very often their financial situation will have a major impact on the type of life insurance they buy. Here is what KSKJ has to offer:

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TERM TO 30

KSKJ’s Term to 30 product is rather unique because the term insurance is available to children from age 0 to age 18 and the coverage will last for thirty years. The rates are certainly affordable since it’s term insurance and issued for children and adolescent children. What makes this a product to seriously consider is that the policy can be converted to a KSKJ permanent product without having to show insurability and the coverage can be double the face amount of the term policy.

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TERM LIFE INSURANCE

The company's term life product is similar to most other term policies available in the marketplace. Available policy terms are 10, 20, or 30 years. Eligible issue ages are 18 to 65 years old. For consumers who are looking to purchase a large amount of insurance to cover the debt, a home mortgage, replacement income, or college tuition, the KSKJ Term Life Insurance product is a very affordable product to consider.

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Whole Life Insurance

KSKJ’s permanent Whole Life insurance is offered to applicants in five different forms:

1. 10-Pay Whole Life - The 10-Pay Whole Life product is the perfect solution for consumers wanting the guarantees provided by whole life insurance that can be paid in full within 10 years. At this point, the insured has lifetime life insurance coverage with no additional premium.
2. 20-Pay Whole Life - This is a whole life insurance policy that covers the named insured for his or her entire life. This policy is perfect for someone who is looking for permanent coverage that can be paid up in 20 years.
3. Single Premium Whole Life – KSKJ’s single premium whole life in an excellent solution for individuals who wish to pay their insurance policy in full with a lump-sum payment. Once issued, this policy provides guaranteed coverage for a lifetime and builds considerable cash value that can be accessed through policy loans or surrender.
4. Single Premium Whole Life High Cash Value – This product is very similar to the Single Premium Whole Life but requires an initial payment of at least $10,000. This product is a great solution for individuals wanting to leave a substantial financial legacy.
5. Whole Life Insurance – This is KSKJ’s standard whole life insurance product. The issue ages are 0 to 85-years old and like other whole life insurance products, the premiums will never increase, the insured receives lifelong coverage, and since the company is a fraternal benefit insurer, they have an excellent record for paying dividends.

KSKJ Final Expense Insurance - Burial Insurance for Seniors

KSKJ’s Final Expense Insurance plan was created specifically for seniors between the ages of 50 and 80 who are looking for lifelong coverage that will pay for final expense like funeral and burial expenses, nursing home or healthcare expenses not covered by Medicare, and debts that could be transferred to a spouse or other family member. It is one of the few burial insurance for seniors plans that offers first-day coverage.

This Final Expense insurance does not require a medical exam or blood and urine analysis and is relatively simple to issue after answering the medical questions on the application. The policy provides first-day coverage so there is no concern about a waiting period after issuance.

As a whole life policy, the KSKJ Final Expense product offers the guarantees of lifelong coverage as long as premiums are paid, level premiums and the policy builds cash value over time that can be accessed using policy loans or withdrawals.

Agency Review

Life Policy Shopper considers KSKJ Life one of the best insurers that we represent, especially when it comes to burial insurance for seniors. The company’s rates are very competitive, their underwriting is quick and easy, and their customer service is outstanding. When compared to their competitors like Lincoln Heritage Life, we feel that KSKJ Life is one of those little-known companies