Royal Neighbors of America – Final Expense Insurance Review

Royal Neighbors of America was founded in 1895, and was one of the first carriers to insure women. Now, in 2019, they are one of the best final expense insurance carriers in the country.

Royal Neighbors of America is hands down one of our best burial insurance and senior whole life carriers. The combination of strong financial strength, competitive rates, and the acceptance of a number of different health conditions qualify them as one of our favorite final expense carriers to work with. While they do offer other products, this review pertains strictly to their final expense product – known as their New Vantage.

At Senior Whole Life, we like to put the most important information first. While this is a comprehensive study of Royal Neighbors, we want to start with what we consider to be the most important things to consider when considering Royal Neighbors final expense insurance.

What We Like About Royal Neighbors

There is a lot to like about Royal Neighbors. We are going to focus on what we consider 3 of Royal Neighbors’ greatest strengths: 1) strong financial strength rating and history, 2) applicant friendly underwriting (more lenient than many other carriers), and 3) competitive premiums.

First, Royal Neighbors was founded in 1895, and have an A– financial strength rating with A.M. Best, which is categorized as “Excellent.” This means they are rated with a stable outlook for overall financial strength and their ability to meet ongoing obligations to certificateholders.

They also have friendly underwriting. What does this mean? Nearly all carriers will ask questions about height and weight. However, Royal Neighbors does not ask any questions about an applicants height and weight. This means that you can qualify for the best rates available, regardless of your height and weight.

Also, Royal Neighbors is more lenient with certain health conditions. Here is a list of health conditions that Royal Neighbors will provide the best rates that the majority of other carriers will not:

• Diabetic neuropathy
• Atrial fibrillation
• Bipolar Disorder
• Transient Ischemic Attack (TIA)
• Blood Thinner Prescriptions
• Mental Health Issues

This is not a comprehensive list of all of the ways Royal Neighbors has friendly underwriting. Every final expense insurance company has a list of prescription medications that can result in declines, increased premiums, and waiting periods for benefits. Royal Neighbors has one of the most lenient list of banned prescriptions of all of the burial insurance carriers. This can be a very overlooked positive of Royal Neighbors, because the only way an application could know this is by working with an experience independent agent who understands each company’s underwriting requirements.

Additionally, Royal Neighbors has a wide range of coverage amounts and competitive premiums. Royal Neighbors offers face amounts for their policies as low as $5,000 and as high as $25,000. While they are not necessarily the rock bottom cheapest carrier in terms of premiums, their premiums are typically very competitive, within a few dollars of the absolute cheapest companies. Couple their competitive premiums, strong financial strength, and applicant friendly underwriting, and Royal Neighbors should be considered one of the very best final expense carriers.

This is just an introduction to Royal Neighbors, and a summary of why we consider them a top tier final expense company. Now we are going to do a deep dive to discover the ins and outs of the company and their final expense options.