Complete Royal Neighbors Life Insurance 2024 Review
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
Senior consumers are always looking to find the best products and services that will best meet their needs. It is a difficult task, but it’s worth it when you find the perfect product for your needs.
In this blog post, we will review Royal Neighbors Life Insurance of America 2023 in-depth so that senior citizens can make an informed decision about which policy would be best for them.
Table of Contents
- Royal Neighbors Of America Final Expense Insurance
- Who Are Royal Neighbors Of America
- What Are Royal Neighbors Ratings and Consumer Reviews
- Royal Neighbors Quick Quote How Much Does Burial Insurance Cost
- Royal Neighbors Of America Simplified Whole Life Policy
- Other Life Insurance Options Offered By Royal Neighbors Insurance
- Royal Neighbors Of America Member Benefits
- What Are The Value of Royal Neighbors of America
- Royal Neighbors Of America’s Underwriting Health Niche’s
- Royal Neighbors Home Office Contact Information
- Conclusion
Royal Neighbors Of America Final Expense Insurance
What is a burial policy? A burial policy is imperative to have in place even for young adults. It protects your family and loved ones from the financial burdens when you pass away.
It goes by a few names, burial insurance, final expense insurance, and even known funeral insurance. They all mean the same thing – A simplified whole life policy ranging from $7,000- $25,000 max.
A burial insurance policy protects your family from the financial burdens they will face when you pass away…
Is burial insurance worth buying? YES! This type of policy covers all your final expenses. It is designed to cover funeral home expenses, casket, traveling, flowers, music, ceremony, cremation, etc.
Who Are Royal Neighbors Of America
Who are Royal Neighbors Life Insurance?
Royal Neighbors of America was founded by eight women in 1895.
They are a fraternal benefit society. A fraternal benefit society is like a mutual insurance company, they have no shareholders.
Their income from premiums and investments over the above costs of all their operations, claim payments is refunded to the insured members. Who wouldn’t like a check after a financially successful year?!
They were one of the first insurance carriers to provide insurance for women and children. They were created by women, one of the largest women-led companies and they empower women daily!
| Royal Neighbors Life Insurance Company Details | |
|---|---|
| A.M Best Rating | A |
| S&P Rating | A- |
| BBB Rating | A+ |
| Customer Service Phone | 800-627-4762 |
| Website | www.royalneighbors.org |
| Address | Royal Neighbors of America 230 16th Street Rock Island, IL 61201-8645 |
What Are Royal Neighbors Ratings and Consumer Reviews
Above all, Royal Neighbors of America has an A+ rating with the Better Business Bureau (BBB), and only four complaints are on file in three years.
One complaint was closed last 12 months, so they’re a pretty reputable company!
There are five Google reviews for overall 4-star ratings that mention good service but also have few details about where/how these agents work which leaves us wondering if this person got scammed because their name sounded funny? Financial ratings Royal Neighbors has enjoyed a solid financial performance.
Either way – positive vibes all around from me 🙂
Royal Neighbors Quick Quote How Much Does Burial Insurance Cost
Again, you can complete the form on the right for a Royal Neighbors Of America quick quote or you can give us a call. Within 10 minutes I will have you qualified and an accurate quote available to you. (855) 380-3300.
| Age of Insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 50 | $33.71 | $39.61 | $49.26 | $58.11 |
| 55 | $37.51 | $46.31 | $54.96 | $68.16 |
| 60 | $38.21 | $50.11 | $56.01 | $73.86 |
| 65 | $44.61 | $58.81 | $65.61 | $86.91 |
| 70 | $55.61 | $74.81 | $82.11 | $110.91 |
| 75 | $79.81 | $110.41 | $118.41 | $164.31 |
| 80 | $110.41 | $153.81 | $164.31 | $229.41 |
Royal Neighbor is a unique and interesting organization. Like many similar organizations, Royal neighbor does not offer online quoting but instead provides an estimate for $25 per month on their page with some details left out like what state the policy applies in or how old you must be to purchase it at this price point.
Royal Neighbors Of America Simplified Whole Life Policy
Simplified whole life policy – preferred death benefit/graded death benefit- What do they mean?
Is this a better product than AARP, Colonial Penn, and Globe Life? YES! And here’s why…
Simplified whole life facts include Day one coverage! NO 2 YEAR WAITING PERIOD!!!
Level benefit for the rest of your life. UNLIKE AARP, Colonial Penn, and even Globe Life, a policy with Royal Neighbors of America will NEVER expire. Your coverage amount will NEVER decrease and your single premium will NEVER increase. EVER! Cancer patients, terminal illnesses and people with disabilities may be able to access their whole life policies to help cover their medical expenses.
The qualifying preferred knockout questions on Royal Neighbors’ final expense application are below #2-7.
Royal Neighbors graded death benefit also will NEVER expire, the coverage amount will NEVER increase, however, they offer limited benefits. This means if you answer yes to the following knockout questions, you will be eligible for a graded policy.
Graded benefits offer min of $5,000 to max $10,000 in coverage. Also, the payout is limited to a graded policy. If you should pass away the first year of the policy being in force, the payout to your beneficiary will be 30% of the face amount.
If you should pass away the second year of the policy being in force, the payout would be 70% of the face amount. After the two years have been satisfied, and should you pass, the full death benefit would be paid to your beneficiary.
Other Life Insurance Options Offered By Royal Neighbors Insurance
Royal Neighbors Life Insurance of America is here to help you find the perfect life insurance policy.
We offer both term and permanent coverage, so your loved ones will be taken care of regardless of their situation or needs for protection – all while staying within budget!
Term life insurance policies are a great option for those who need temporary coverage. It’s inexpensive and affordable, so you can take care of your financial needs while still being protected from the risk that comes with death or disability!
Royal Neighbors life Insurance offers a variety of coverage options for those who want to protect their families. The company has developed JETerm, which can provide quick decision and instant insurance up to $500K with no underwriting process needed!
This product is available only between ages 18-60 years old so be sure not to delay in applying today by calling us at 855-380-3300.
Term Life Insurance Riders
Overall, adding riders to your term life insurance coverage from Royal Neighbors can help you customize the policy better. These include:
- Rider for Disability Waiver,
- Accident Death & Sickness with Accelerated Benefits;
- Guaranteed Insurability
- Child Rider which is unique in that it covers children up until age 18 years old and then continues as additional
The Promise Plus cancer waiver rider is designed to help in the event of a diagnosis or recurrence. If you’re diagnosed with any qualifying condition, your premiums will be waived for two years!
Royal Neighbors Of America Member Benefits
Royal Neighbor’s final expense Member savings is an incredible discount and savings program for all of Royal Neighbors members.
As a matter of fact, these benefits include discounts on anything from prescription drugs, labs work, imaging services including MRI’s, Cat scans, vision, dental, legal services, retail benefits – such as hotels, rental cars, movie tickets, shopping in-store, and online, the list goes on!
The best part is, these discounts and savings are not just for the policyholder, these benefits are extended to the policyholders immediate family, children, and spouses! Their immediate family members do not need to be policy holders. This is included in the policy!
Discount Services Provided By Royal Neighbors
The Royal Neighbors are the best fraternal society to join if you want a benefits package that’s equal parts diverse and rewarding. Several additional benefits and discounts are also included with membership through approved retailers and health care providers.
They provide valuable member benefits in all facets of life, from home insurance coverage with no underwriting restrictions on appliances or personal property up through disability management services for those unfortunate enough to need them!
- Dental discounts save members 5% to 50% on most dental procedures including routine oral exams, unlimited cleanings and major work such as dentures. Over 176 thousand participating access points offer these savings!
- With Vision discounts, you can get your vision corrected and still save money. Are you ready for this? Members receive savings up 40% – 50%.
- Saving money on hearing aids and discounts for diagnostic services? Get Royal Neighbors! Royal neighbors is here to save you from costly medical expenses. They offer 30% off of all their products, as well as discounted rates when it comes time for new hearing aid technology or an annual physical exam at over 2-dozen locations in your area (including some free ones).
- DirectLabs is a leading provider of lab services discounts. The discount program provides savings from 10% to 80%, depending on the procedure you need done!
- Prescription drug discounts are the best way to save on your prescriptions. Whether you need a generic or brand name, MedImpact has over 60,000 participating pharmacies that offer savings from 15% -60%.
Final Expense Life Insurance No Exam
With simplified whole life insurance policies and final expenses, there is no medical exam required. In fact, the process is quite simple. Furthermore, once we qualify you which is a series of health and lifestyle questions and the medical questions above.
Of course, at that point, once you have established the coverage amount you desire, we do the entire application process over the phone together on a 3-way phone call with you, the insurance carrier, and your independent agent.
This is called the Voice Signature Application Process. It takes approximately 20-30 minutes from start to finish. The insurance carrier verifies the information you and your agent have discussed, then your signature is your name and the date.
It is equivalent to signing a document but simply the best thing since sliced bread!
What Are The Value of Royal Neighbors of America
The Royal Neighbors’ plan is amazing and offers the best protection. You can get a minimum face amount of $5,000 with no maximum!
The price for this coverage would be extremely cheap if you were to compare it to other carriers like Colonial Penn or AARP who charge way more than what they should.
Luckily we have different options available in case your current provider isn’t enough for our needs.
Colonial Penn and AARP are charging way too much for their burial insurance. Fill out this quote form to see how much less you could be paying!
~Danny Ray, Founder
Insurance companies are all different, and there is no one-size-fits-all approach.
Royal Neighbors is the perfect company for those with diabetes to get their burial insurance needs to be taken care of because they have a special emphasis on understanding your specific medical history which can include simplified issue like liver or kidney complications from having Type 1 or 2 diabetes respectively!
Royal Neighbors Of America’s Underwriting Health Niche’s
Do you have health impairments? Do you have concerns about getting coverage? Well, don’t fret! Here are some of the underwriting niche’s that make Royal Neighbors stand above the rest!
- Neuropathy
- diabetes
- retinopathy
- brain tumors (actually- any tumor)
- blood clots
- mini-strokes
- home health care
- blood thinners prescribed YESTERDAY
- assistance with ADL’s
- hepatitis that has been cured more than years ago
- cancer more than once
- metastatic cancer (also a 2 year look back on cancer)
- No build chart
- diabetes before age 50 (will ask about insulin prior to age 30 though)
- A-fib
- cystic fibrosis
- sarcoidosis
- pacemaker battery changes don’t count as heart or circulatory surgery
- mental health including schizophrenia.
So now you can see why Royal Neighbors is our senior’s top choice! In fact, most of our clients are adult children looking to purchase burial insurance for their parents.
Equally important, they know that the financial burden will fall on their lap, in order to prevent that during such an emotional time, they purchase final expense insurance. This is peace of mind and that right there is PRICELESS!
How are RNA’s Claims Processed
While there’s no direct link to claim a loss on the member forms page, it does have links that take you straight through.
The site provides quick access and lists these pages at the bottom with ease but can be difficult since they don’t come up automatically like other parts of our service might do.
Furthermore, forcing visitors seeking more information about filing claims into anachronistic formats where effort has been put forth by both parties involved in order for them to get what was intended.
How Much Life Insurance Do I need
You are not dying today! Hopefully!!! The cost of a funeral today is going to be different than the cost of a funeral 20 or 30 years from today. We always recommend you double the amount of what you would need especially if there is longevity in your family.
Royal Neighbors Home Office Contact Information
Royal Neighbors of America
230 16th Street, Rock Island, IL 61201.
Royal Neighbors Of America Phone Number: (800) 627-4762.
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Conclusion
The Royal Neighbors of America Burial Insurance 2024 is a great choice for someone who wants peace of mind in the event that they pass away.
However, many people do not realize how affordable this insurance can be and might miss out on an opportunity to save money by purchasing a policy now instead of later.
Whether you are considering burying your parents or just want some protection against worst-case scenarios, we hope our review has helped you better understand what’s available through this life insurance product!
2 Comments
Joseph
Hi, I’m interested in basic coverage for myself only at this time, I’m in fair health. I just need creamation with no funeral, casket, showing, flowers, I’m at peace knowing my only son won’t be worried about estate liens on our home. Barebones cost thank you for your time sincerely, Joseph
Danny Ray
Reach out to us, my wife Lisamarie can take care of you. 855-380-3300 ext 5