The only money you can get for the end-of-life expenses is $255 from Social Security (but only if you qualify). No state benefit pays for someone’s funeral. If you look closer, you will find this statement at the bottom of the card: “Not affiliated with or endorsed by any government agency.” They use headlines like “New Government Benefit Update,” “Medicare Open Enrollment Qualification Request Card,” or “Important Letter of Notification.” Does The State Sponsor These Plans? This mail often looks like it’s coming from a government agency. Further down in this post are many variations in all 50 states. These programs go by different names in different states. The mailer uses the phrase “state-regulated” to make their offer sound more official like it is like notifying you about a new government benefit program. These State Regulated Life Insurance advertisements are intended to get your personal information, which will then be sold You’ll possibly start getting 100’s of phone calls! It’s a lead generation strategy that is misleading - making people think that there is a state-sponsored citizens’ life insurance plan that will take care of their final expenses. Technically, a state-regulated life insurance mailer is not a hoax. Is State-regulated Life Insurance A Hoax? Therefore, “state-regulated life insurance” is nothing new or special it’s just a marketing trick to fool you into giving away your personal information. In truth, all insurance companies are regulated by the state. The department of insurance will permit to sell the insurance product once all the requirements are met. The insurance company must provide financial information about the product and the company to get a license. Every insurance company that wants to offer any insurance products in your state must get a license to sell from your state’s insurance department. All life insurance companies are regulated at the state level. You might be asking what stage-regulated insurance is. What Does “State-regulated Life Insurance” Mean?
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