Chartis Life Funeral Plan Explained [2025 Update]

Planning for the future often involves thinking about uncomfortable topics, but ensuring your final expenses are covered is one of the most responsible and caring steps you can take for your loved ones. When exploring options, you might come across names like the Chartis Life Funeral Plan. Understanding what these plans offer, how they compare to others, and whether they are the right fit for your unique situation is crucial.

Dealing with the loss of a loved one is incredibly difficult. Adding financial stress from funeral costs and other final expenses only compounds the grief. Final expense life insurance aims to alleviate this burden, providing a dedicated sum of money to cover costs like burials, cremations, medical bills, and other outstanding debts. However, the insurance market is vast, with countless products and carriers, each with its own specific features, benefits, and costs. This is where understanding your options becomes paramount.

At Insurance By Heroes, we understand the importance of finding the right protection. Founded by a former first responder and military spouse, and staffed by professionals with backgrounds in public service, our mission is rooted in service and trust. As an independent insurance agency, we aren’t tied to any single company. Instead, we partner with dozens of highly-rated insurance carriers across the nation. This allows us to shop the market extensively on your behalf, comparing policies and rates to find coverage truly tailored to your individual needs and budget. While understanding specific plans like the Chartis Life Funeral Plan is helpful, remember that it represents just one potential option among many. Our goal is to ensure you get the best possible solution, not just the first one you encounter.

What is Final Expense Life Insurance?

Final expense life insurance, often called burial insurance or funeral insurance, is typically a type of whole life insurance policy designed with smaller coverage amounts than traditional life insurance. The primary purpose is to cover end-of-life expenses, ensuring that family members aren’t left with unexpected bills during a difficult time.

Key characteristics usually include:

• Smaller Death Benefits: Coverage amounts generally range from $2,000 to $50,000, aligning with typical funeral and final expense costs.
• Simplified Underwriting: Many policies involve simplified underwriting (a few health questions, no medical exam) or guaranteed issue (no health questions asked, acceptance guaranteed within certain age limits).
• Fixed Premiums: As a form of whole life insurance, premiums are typically designed to remain level for the life of the policy.
• Cash Value Accumulation: Policies usually build cash value over time on a tax-deferred basis, which can be borrowed against or surrendered (though this reduces the death benefit).
• Lifelong Coverage: Coverage lasts for your entire life, as long as premiums are paid.

The peace of mind this provides cannot be overstated. Knowing that funds are set aside specifically for these costs prevents dipping into savings meant for other purposes or burdening family members financially.

Understanding Funeral Costs and Final Expenses

Why is dedicated coverage so important? Final expenses can add up quickly. According to the National Funeral Directors Association (NFDA), the median cost of a funeral with viewing and burial has consistently risen, often exceeding $8,000, and can easily surpass $10,000 depending on choices like caskets, burial plots, and services. Cremation costs are typically lower but can still amount to several thousand dollars.

Beyond the funeral itself, other potential final expenses include:

• Unpaid medical bills (deductibles, co-pays)
• Legal or administrative fees to settle an estate
• Outstanding debts (credit cards, small loans)
• Travel costs for family members
• Costs for memorial services or celebrations of life

A final expense policy provides a relatively quick payout directly to your beneficiary, allowing them to cover these costs without delay or financial hardship. It’s important to choose a coverage amount that adequately reflects these potential needs. Working with an agency like Insurance By Heroes allows you to discuss these costs and determine an appropriate coverage level, drawing comparisons from the many carriers we represent.

What Was the Chartis Life Funeral Plan? A Look Back

You might encounter the name “Chartis Life Funeral Plan” during your research. It’s important to understand the context here. Chartis was a brand name used by the major insurance conglomerate American International Group (AIG) for several years, particularly after the 2008 financial crisis. Later, AIG largely reverted to using its primary brand name.

Therefore, a “Chartis Life Funeral Plan” likely refers to a final expense or burial insurance product offered by AIG during the period it operated under the Chartis brand. While specific product details might evolve, these plans generally fall into the category of guaranteed issue or simplified issue whole life insurance designed for final expenses.

Because brand names and specific product offerings change frequently in the insurance industry, focusing solely on an older brand name like Chartis can be limiting. It underscores the value of working with an independent agency like Insurance By Heroes. We stay current with market changes, product updates, and carrier reputations across the industry, ensuring the advice and options we provide are relevant today. We can help you find policies similar to what the Chartis plan likely offered, but potentially with better rates or features from one of the many other carriers we work with, including AIG itself if their current offerings are the best fit for you.

Features Typical of Plans Like the Chartis Life Funeral Plan (Likely AIG Products)

While the exact “Chartis Life Funeral Plan” may no longer be actively marketed under that name, AIG continues to offer final expense insurance, often through guaranteed issue whole life policies. Understanding the typical features of these *types* of plans is essential:

Guaranteed Issue Policies

Many final expense plans targeted towards seniors or those with health issues are “guaranteed issue.” This means:

• No Medical Exam: You won’t need to see a doctor or have blood drawn.
• No Health Questions: Acceptance is guaranteed within the eligible age range (typically 50-85, but varies by carrier).
• Ideal For: Individuals with significant health conditions who might not qualify for other types of life insurance.

However, guaranteed issue policies come with important considerations:

• Graded Death Benefit: This is a crucial feature. If the insured passes away from natural causes (not an accident) within the first two or three years of the policy (the graded period), the beneficiary typically doesn’t receive the full face amount. Instead, they usually receive a return of the premiums paid, possibly with some interest (e.g., 10%). After the graded period, the full death benefit is paid for death from any cause. Accidental death often pays the full benefit from day one.
• Higher Premiums: Because the insurer accepts everyone regardless of health, the risk pool is higher, leading to more expensive premiums compared to medically underwritten policies.

Simplified Issue Policies

Some final expense plans use simplified underwriting:

• No Medical Exam: Similar to guaranteed issue, no exam is required.
• Few Health Questions: Applicants answer several questions about their health history (e.g., regarding cancer, heart disease, recent hospitalizations).
• Lower Premiums than GI: If you can qualify based on the health questions, premiums are generally lower than guaranteed issue policies.
• Immediate Full Coverage Possible: Depending on the answers to health questions, some simplified issue policies offer full death benefit coverage from the first day. Others might still have a graded period, but qualification standards differ.

Common Policy Aspects

Regardless of underwriting, final expense policies like those historically offered by Chartis/AIG typically share these traits:

• Coverage Amounts: Usually modest, often maxing out around $25,000 or $35,000, aligning with final expense needs rather than income replacement.
• Premium Structure: Premiums are calculated based on age, gender, coverage amount, and health (for simplified issue). They are designed to remain level for life.
• Cash Value Growth: Slow but steady tax-deferred cash value accumulation is a feature of these whole life policies.

Why This Matters for You: Understanding these features highlights why a one-size-fits-all approach doesn’t work. A guaranteed issue plan like those often associated with AIG (formerly Chartis) might be essential for someone with serious health issues, despite the graded benefit and higher cost. However, a relatively healthy individual might qualify for a simplified issue plan (from AIG or another carrier) with immediate coverage and lower premiums. Someone in excellent health might even find a small, traditionally underwritten whole life policy more cost-effective. This is precisely why consulting with Insurance By Heroes is so beneficial. We analyze your specific health profile and needs against the offerings of dozens of carriers to find the truly optimal match.

Pros and Cons of Guaranteed Issue / Final Expense Plans

Plans like the type historically offered under the Chartis Life Funeral Plan name (often guaranteed issue) have distinct advantages and disadvantages.

Potential Advantages

• Accessibility: Guaranteed acceptance for eligible ages makes coverage available to almost everyone, regardless of health. This is a significant benefit for those previously denied insurance.
• Ease of Application: No medical exams and minimal (or no) health questions simplify the application process.
• Peace of Mind: Provides assurance that funds will be available for final expenses, protecting loved ones from financial strain.
• Fixed Premiums & Lifelong Coverage: Predictable costs and coverage that won’t expire offer security.

Potential Disadvantages

• Higher Cost: Guaranteed issue policies are generally the most expensive form of life insurance per dollar of coverage due to the acceptance of high-risk individuals.
• Graded Death Benefit: The waiting period (typically 2 years) before the full benefit is paid for non-accidental death is a major drawback. If death occurs during this period, beneficiaries only get premiums back, often plus interest.
• Limited Coverage Amounts: The maximum death benefit is relatively low, suitable for final expenses but not for larger needs like income replacement or mortgage payoff.
• Better Options May Exist: Healthier individuals can often qualify for less expensive policies (simplified issue or even fully underwritten) with immediate coverage from other carriers.

Finding Your Balance: The key is weighing these factors against your personal situation. If you have significant health conditions, a guaranteed issue policy might be your best or only option, and the peace of mind it offers can outweigh the cons. But if you’re healthier, paying the higher premium for a guaranteed issue policy when you could qualify for something better is not ideal. This is where the independent advice from Insurance By Heroes becomes invaluable. We help you understand if a plan like AIG’s guaranteed issue final expense policy is appropriate, or if one of the many other carriers we represent offers a more suitable and affordable solution based on your health and financial goals.

Why Insurance By Heroes is Your Best Ally

Navigating the complexities of life insurance, especially niche products like final expense plans, can be overwhelming. Choosing the right policy involves more than just picking a brand name you recognize or the first option presented.

Insurance By Heroes operates differently. As an independent agency, our loyalty is to you, our client, not to any single insurance company. Here’s why that matters:

• Unbiased Market Access: We work with dozens of the nation’s top-rated insurance carriers. This means we can compare policies like AIG’s final expense offerings (formerly associated with Chartis) against similar products from numerous competitors. We look at rates, underwriting guidelines, policy features, and company ratings to find the best overall value for you.
• Personalized Needs Assessment: We take the time to understand your specific situation – your health, budget, family needs, and concerns. We don’t believe in one-size-fits-all solutions. Our recommendations are tailored to you.
• Expertise Across Carriers: Different insurance companies have different “niches.” Some are more lenient with certain health conditions (like diabetes or COPD), while others offer better rates for specific age groups or non-smokers. Our extensive knowledge allows us to match you with the carrier most likely to view your application favorably and offer competitive rates.
• Service You Can Trust: Founded by a former first responder and military spouse, and staffed by professionals with similar backgrounds in public service, Insurance By Heroes is built on a foundation of integrity and a commitment to serving others. We understand the unique needs and values of fellow heroes – first responders, military members and veterans, healthcare workers, educators – and the communities they serve. We provide honest, transparent advice focused on your best interests.

While a plan like the Chartis Life Funeral Plan (or its AIG successor) might be a viable option, it’s just one piece of a much larger puzzle. Without comparing it to the broader market, you might overpay or settle for less advantageous terms, like an unnecessary graded death benefit if you could qualify for immediate coverage elsewhere. We do the comparison shopping for you, simplifying the process and ensuring you have the information needed to make a confident decision.

Finding the Right Final Expense Policy: Key Considerations

Choosing the most suitable final expense insurance involves assessing several factors:

1. Your Health Status: This is often the most critical factor.
   • Excellent/Good Health: You may qualify for simplified issue plans with immediate coverage and lower premiums, or even small fully underwritten whole life policies. Avoid guaranteed issue unless necessary.
   • Moderate Health Issues: Simplified issue might still be available, but the choice of carrier becomes more critical. Some carriers are more favorable towards specific conditions than others.
   • Significant Health Issues: Guaranteed issue might be the primary or only option. The focus shifts to finding a reputable carrier with competitive pricing for this type of plan.
2. Your Budget: How much can you comfortably afford in monthly premiums? Remember, these are typically level for life. We help find the best coverage amount within your budget across multiple carriers.
3. Desired Coverage Amount: Calculate realistic final expense needs. Include funeral/burial costs, potential medical bills, and any small debts you wish to cover. Aim for an amount that provides adequate protection without over-insuring.
4. Need for Immediate Coverage: If you are relatively healthy, prioritizing a plan with immediate full death benefit (level coverage) is usually preferable to one with a graded benefit period.

Insurance By Heroes helps you navigate these considerations methodically. We ask the right questions, leverage our knowledge of different carrier underwriting guidelines, and present you with clear comparisons. For example, we know which carriers might offer better rates for well-controlled diabetes or which ones have more lenient height/weight charts. This level of detail, applied across dozens of companies, is something you simply can’t get by contacting a single insurer directly.

The Insurance By Heroes Commitment: Service, Trust, Advocacy

Our story isn’t just marketing; it’s the core of who we are. Insurance By Heroes was founded out of a desire to serve those who dedicate their lives to serving others. Our founder, a former first responder and military spouse, experienced firsthand the importance of reliable protection and honest guidance. This ethos permeates our agency.

Our team comprises professionals who share this public service background. We approach insurance not just as a transaction, but as a vital tool for providing security and peace of mind. We believe in:

• Transparency: Clearly explaining policy options, including the pros and cons.
• Integrity: Recommending products based solely on your needs, not commissions.
• Advocacy: Acting as your representative in the complex insurance market, ensuring you get fair treatment and the best possible value.

When you work with Insurance By Heroes, you’re partnering with an agency that understands the importance of duty, trust, and looking out for one another. We bring that same dedication to finding the right insurance solutions for you and your family, whether it’s final expense coverage, term life, or other insurance needs.

Take the Next Step: Secure Your Peace of Mind

Planning for final expenses is a vital step in protecting your loved ones from future financial stress. While plans historically known as the Chartis Life Funeral Plan represent one type of option, likely a guaranteed issue policy now offered by AIG, it’s crucial to remember it’s just one possibility among many.

Don’t settle for the first policy you find or assume a guaranteed issue plan is your only choice without exploring the market. Let Insurance By Heroes leverage its independence and access to dozens of top carriers to find the best fit for you. Our team, rooted in service, is ready to provide the honest, personalized guidance you deserve.

Ready to compare your options and find the most affordable, suitable final expense coverage? It’s simple. Fill out the secure quote form on this page with some basic information. There’s no obligation. An experienced Insurance By Heroes agent will review your details and reach out to discuss personalized quotes from multiple carriers, answering all your questions and helping you secure the peace of mind that comes with being prepared.

Protect your legacy and your loved ones. Get your free, no-obligation final expense insurance comparison from Insurance By Heroes today!