Free Final Expense Calculator

[jody108]

Hi guys. I have designed a final expense premium calculator for my website so that Final Expense agents can compare company pricing side by side. It's free to any agent who wants to use it and if any of you guys want to put the calculator widget on your website, you can. I made it so you can add any insurance company to the calculator and I have made it so you can specify which companies you want in the calculator. I am posting an example below. Let me know what you think or if you see any errors. I want this to be a nice tool for agents so I appreciate any feedback.

The forum doesn't allow me to post the calculator here. Click on the link below:

Final Expense Calculator! No Medical Exam, Up To Age 85, Life Insurance Quotes!

 

[jdeasy]

Hi guys. I have designed a final expense premium calculator for my website so that Final Expense agents can compare company pricing side by side. Its free to any agent who want to use it and if any of you guys want to put the calculator widget on your website, you can. I made it so you can add any insurance company to calculator and I have made it so you can specify which companies you want in the calculator. I am posting an example below. Let me know what you think or if you see any errors. I want this to be a nice tool for agents so I appreciate any feedback.

Go to my website to test it. The forum doesn't allow me to post the calculator here.

I just tried it out and your Americo rates are wrong. I didn't look at all the others to see if they were accurate.

I did just look at the RNA as well. They are off by a few cents. The Americo is way off. More than 10% off.

Having an inaccurate comparison tool is more than worthless.

How about listing the AM Best rating of the companies? OXford is the lowest in many cases, but they are not an A rated company. In many states your E&O doesn't cover you if you write non A rated companies.

 

[jody108]

Thanks JD. I have calculated a 50 year old male, non smoker for $10,000 and all the calculations are correct for Americo, RNA, Oxford, Foresters, American Memorial, etc. See attachment for calculator results.

Americo
50 year old non smoking male:

For $10,000 coverage:

10 x 32.05 + 40 = 360.50 x .095 = $34.25

Same as calculator.

RNA
50yr old Male Non Smoker:

10 x 28 + 30 = 310 x .087 = $26.97

Again, same as I got from the calculator.

Oxford Life
Male 50 Non-smoker

10 x 25.27 +30 = 282.70 x .085 = $24.03

Same as calculator

Foresters
Male 50 Non Smoker

10 x 27 + 36 = 306 x .0875 = 26.78

Same as calculator.

American Memorial

43.17 x 10 + 30 = 461.70 x .09 = $41.55

Same as calculator

I will also verify Male smokers and Female, smoking and non smoking. Thus far, all calculations are correct.

If anyone finds anything else, please let me know. Thanks JD.

 

[jody108]

Madison Life
50yr old male, non smoker
10,000

10 x 33 + 40 = 370 x .09 = $33.30 - same as calculator

American Amicable
50yr old male, non smoker $10,000

32 x 10 + 40 = 360 x .087 = 30.45 (same as calculator)

 

[jody108]

Ah, Americo was wrong. I had the prices on the wrong ages. It's fixed now.

Male 50 yrs old, non smoker

29.75 x 10 + 40 = 337.50 x .095 = $32.06

See attachment.

 

[jody108]

Just checked all female non smoker and calculations are also correct. Please advise if you see something else that is wrong.

Thank you.

 

[Newby]

The smoker rates for Foresters must be wrong. They come up way higher than all the others. I did a male 70 smoker for $5,000

 

[jdeasy]

Just checked all female non smoker and calculations are also correct. Please advise if you see something else that is wrong.

Thank you.

You must have been using the old Americo rates before they dropped rates 15%.

Any of the others are just a few cents off. That could be in the calculations vs just just getting off the prefigured rates from the company.

How about the company ratings? Is that something you can put on there?

Hey, it's free so I'm not complaining. The rates being accurate is the main thing.

 

[jody108]

Can you attach to new Americo rates per thousand? I have attached the one I have.

It doesn't go a penny off when I calculate them using the calculation guides. Can you show me what you mean?

As for the company ratings, there just isn't enough room for that. Maybe if I ever redesign it but not now. Thank you for the idea though.

 

[jdeasy]

Can you attach to new Americo rates per thousand? I have attached the one I have.

It doesn't go a penny off when I calculate them using the calculation guides. Can you show me what you mean?

As for the company ratings, there just isn't enough room for that. Maybe if I ever redesign it but not now. Thank you for the idea though.

Americo looks fine now. The one I saw that was a few cents off was RNA. Where you have $26.97 for $10,000 face on a 50 year old male non tobacco, their prefigured rate sheet shows $27.01.

I don't write all of those companies, so I don't know if the others are off a little or not. That's why I was using it in the first place.