Trinity Life and Family Benefit Burial and Final Expense Insurance Reviews

Trinity Life and Family Benefit Burial and Final Expense Insurance

The idea of ever losing a loved one or departing from this world someday is never a pleasant thought to have. Nonetheless, death is an inevitable event we all have to experience at some point in life. We can’t determine where, when or how it will occur, but we can at least prepare for it, especially financially.

Funerals are already too costly, without considering the medical bills or how the family will survive afterward if you were the breadwinner. That is why it is advisable to have a financial plan that will secure your family’s future and free them from the burden of final expenses, long after you’re gone. 

Among the many ways you can do this, insurance is perhaps the most secure option. At the very least you can take up a Final Expense Insurance policy. That will ensure your family won’t have to bear the burden of your funeral costs and medical bills.

If this is the first time, you’re thinking of taking up a final expense policy, it can be a daunting task exploring your options. This is especially true when trying to figure out which company will offer the best cover, enough to put your mind at ease. 

In your search for the best final expense insurance policy, you have probably come across the name Trinity Life Family Benefit Insurance Company. It is among the most popular companies; most people choose for a cover. 

In this post, we will discuss in detail what Trinity Life Family Benefit Insurance is about, its pros and cons, and whether or not it is a worthy pick.  

Company Background of Trinity Life and Family Benefit 

The two names, Trinity Life and Family Benefits are two different names but are the same company. Both are subsidiaries of the parent holding company, First Trinity Corporation, which has another subsidiary in Barbados, Trinity American Inc.

The First Trinity Corporation, with its headquarters in Tulsa, Oklahoma, was incorporated in 2004. Its purpose was to form a life insurance and premium financing company. 

Trinity Life Insurance is a life insurance and annuity company, whose headquarters are also in Tulsa, Oklahoma. Its wholly-owned by First Trinity and begun its operations fairly recently in 2007. 

In 2011, First Trinity then acquired Family Benefit Life Insurance, another life insurance, and annuity company. Its headquarters are situated in Jefferson City, Missouri. 

Their main focus is Family because they understand the importance of such a bond. For them, family isn’t necessarily a blood relation, simply someone or people you deeply care for. 

Both Trinity Life and Family benefit believe in preparing for the financial impact death may have on your dearest ones. That is why they strive to offer some of the best final expense policies along with other quality and affordable life insurance policies, with fixed-rate annuities.

Both companies are relatively smaller than many life insurance companies but are rapidly expanding. Currently, they operate in 27 states in the US, especially in the central and southeastern regions. 

They are still expecting to continue expanding and are looking for the right blocks of life insurance businesses and companies to acquire.


Still being small insurance companies, Trinity Life and Family Benefit are not rated by any of the leading financial rating services. These include S&P Global, Fitch, Moody’s, Comdex Ranking, and A.M. Best, all of which have an NR (No Rate) Status for both companies as of date. 

Both Trinity Life and Family benefit, however, do have an A+ rating from Better Business Bureau (BBB). This is proof that they are solid trustworthy companies with great customer service.

In addition, according to the most recent quarterly report offered to SEC as of 2020, Trinity Life has assets of about $605million. 

Out of that $410million are investment holdings, where the largest holding is $162million of mortgage-backed real estate loans. Its quarterly net income comes to about $1.4million. Family Benefit’s quarterly profits as of 2021 are $5million.  

Products Offered by Trinity Life

Products Offered by Trinity Life

Trinity Life mainly deals with life insurance policies. Its main products, therefore are whole life insurance and term insurance policies. 

Compared to other companies, Trinity Life has very competitive and inexpensive prices. Both their whole life and term life policies offer basic coverage, although for differing periods.

Whole life insurance is a permanent type of life insurance. Trinity’s whole life insurance policies have fixed premiums and growing cash value that’s tax-free and guaranteed for life as long as the premiums are paid. 

Although the initial cost of whole life is higher than term life, it is a cheaper option over a long period. It’s ideal for individuals who want a higher degree of benefits that are guaranteed for a lifetime.

Term life insurance on the other hand is a temporary life insurance policy. Trinity’s term insurance is the least complicated and least expensive policy. It can be offered in terms of between 10-30 years. 

While it has no cash value, it is cheaper than the whole life policies. You also have the choice of either renewing the policy or converting it into a permanent policy after the initial term is over.

Rates and Quick Quotes

Rates and Quick Quotes by Trinity Life

Rates offered for the policies in Trinity Life are dependent on the age, gender, and health of the applicant. The older you are the more you have to pay. 

Males also pay a higher premium than females. In the same way, non-smokers pay less than smokers. The final expense rates offered by Trinity life for non-smokers are the lowest in the market. The smokers’ rates are also relatively competitive in the market.

The type of policy also matters when considering the rates. As mentioned, First Whole Life insurance is more expensive than First Term insurance. 

When it comes to the Golden Eagle final expense policy, the rates for the simplified issue are more expensive compared to the graded benefit. 

For the Golden Eagle Final expense, the rates are between $8.55-$639.09 monthly bank draft inclusive of the $30 policy fee. For example, a female non-smoker applying for a simplified issue level of the Golden Eagle policy will pay a rate of $12.18-$384.40, depending on the coverage amount and the age. The following is an example of a policy premium, using a $10,000 policy for a smoker between the ages of 55-85 years:

AgeMale RatesFemale Rates

How to Qualify for Trinity Life Final Expense Insurance?

How to Qualify for Trinity Life Final Expense Insurance?

To apply for a policy at Trinity life, factors like age and health matter. Trinity life is however very lenient when it comes to health as compared to other insurance companies. 

To get a cover with Trinity Life, no medical examinations are needed, only a medical screening where one is asked questions about their health and medical history. 

Even then, having a medical condition doesn’t completely disqualify you from taking up a policy. For example, an applicant with health conditions may not qualify for the simplified issue of Golden Eagle’s final expense policy. Still, they can qualify for the graded benefit of the policy.

Life Insurance Policies Offered by Trinity Life

As mentioned, Trinity Life Insurance specializes in life insurance. The company offers whole life insurance, term life insurance, fixed annuities, and final expense insurance. There are a total of four types of policies offered by the company. 

They are First Whole life, First Term life, Value Builder, and Golden eagle’s final expense. First Whole life, Value Builder (a mix of whole life and fixed annuity), and Golden Eagle are all types of whole life insurance, specially designed to offer certain coverage. 

The first term is the standard term insurance policy offered by Trinity Life Insurance.

Available Life Insurance and Insurance Final Expense Coverage

Available Life Insurance and Insurance Final Expense Coverage

The following are detailed descriptions of the available Life insurance and Final expense products offered by Trinity Life:

First Whole Life. 

This is Trinity Life’s standard whole life insurance. It involves fixed premiums and cash-value accumulation. You are also guaranteed life coverage. This type of policy is especially useful for those retiring and/or estate planning. 

It is cash values are also tax-free and you can take up loans against your cash value. If you cancel the policy, however, the cash value may be taxed. You can also convert the cash value into annuity or cash as per your wish.

There are three main payment plans for this type of policy, which are: Single pay, 10 pay, and Life pay. Single pay means that you pay one lump-sum premium at the beginning when the policy is issued.

After that, you’ll receive the full cover and do not have to pay any premiums until death when your beneficiaries receive the benefits. 10 pay on the other hand type of plan designed to allow you to fully pay for your policy within 10 years. 

With life pay, you have to pay premiums until your death. The rates for life pay are the lowest followed by 10 pay and finally single pay.

Value Builder.

This is a type of whole life insurance designed as a retirement savings asset. It combines whole life coverage with a built-in annuity. The required minimum premium for this policy is $1,000 per year with a tax-free annuity growing at a guaranteed rate. 

The current profit rate is 4.5% per year. The Value Builder can act as a retirement income stream that outlives you and continues providing for your surviving spouse. It can also help fund outstanding debts and final expenses in the event of your untimely death.

The premiums for this whole life policy are scheduled such that you will have fully paid your premiums by 10-20 years, this will depend on your age. To further fund your annuity, you can also choose to make supplemental payments. 

There is also a standard Increasing Term rider that offers supplemental death benefits for the first 10 years of a new policy. This rider is, however, limited to a particular group of applicants.

With the Value Builder policy, you can use the accumulating cash value to fund an emergency or opportunity. You can make withdrawals of up to 10% each year without any penalty fee. 

If your withdrawal exceeds 10%, then a penalty fee will be charged starting from 9% of the withdrawn amount. This percentage decreases each year until the fee is no longer applicable.

First Term.

Trinity Life offers a term life insurance policy known as First Term. It is an inexpensive term coverage between $25,000-$5,000,000. It’s ideal for young individuals setting up their lives and looking for coverage on a demanding budget.

The term of coverage can be either 10, 15, 20, or 30 years depending on the amount you pay. That way you can get the best cover for you and your family according to your budget. 

At the end of your term, you can keep renewing your policy again until you’re 95 years old, regardless of the status of your health. You can also choose to convert the policy into a permanent life insurance policy with no additional underwriting or proof of insurability. 

Converting is possible until you turn 75 years of age.  

Golden Eagle Final Expense.

The Final Expense policy offered by Trinity Life Insurance is known as Golden Eagle Final Expense. It’s designed to give you peace of mind by offering your family financial security when they need it most. 

The benefits from the policy can be used to pay for funeral costs, legal fees, and medical bills as well as another unpaid bill among other unforeseen expenses. The policy is offered in two levels; simplified issue and graded benefit.

Simplified Issue.

This level of golden eagle final expense is designed to cover final expense costs like funeral costs, debts, taxes, and estate administration expenses. 

The death benefits are immediate and the premiums are fixed. Like other whole life insurance policies, a simplified issue comes with an accumulating cash value. The coverage of the policy is also guaranteed for life as long as the premiums are paid consistently. 

As part of the application process, a medical examination isn’t required. You do have to fill a medical screening questionnaire. Once you’ve passed the screening, you’ll be eligible for coverage worth between $2,500-$25,000. You can choose a cover that fits your budget and needs.

Graded Benefit.

This level of the Golden Eagle policy is designed for applicants who do not completely pass the medical screening questionnaire. 

These are usually applicants with a medical condition. The policy comes with a graded death benefit which is lower compared to the simplified issue.

The cover amount is normally between $2,000-$10,000. It also comes with an initial waiting period. In the first two years, as a policyholder, you are only entitled to half of the cover, after that you can receive 100% of the cover. 

If you happen to die before or within two years then your beneficiary will only receive 50% of the benefits.

What Are the Knockout Questions?

The Trinity Life’s Golden Eagle Final Expense Policy requires you to answer various questions to determine your eligibility for the policy. The Knockout questions are in two groups. If you answer yes in any of the questions in the first group you will not be eligible for either the simple issue or graded benefit policy. 

If you answer yes to any question in the second group then you will only qualify for the graded benefit policy. If your answer is no for all the questions then you will have qualified for the simplified issue policy. 

You can review the questions from here.

What Are the Health Questions Asked for a Whole Life Policy?

Health Questions Asked for a Whole Life Policy

When it comes to Whole Life policies, insurance companies avoid taking risks, hence take extra precautions, especially where health is concerned. 

While some companies will ask for a medical examination, for companies like Trinity Life, the medical screening questionnaire is sufficient enough.

The questions asked to determine the health qualification of an applicant may vary from company to company. The general questions that may be asked involve the following among others:

  • You’re height and weight.
  • Whether or not you have a medical condition.
  • If you are on any medication.
  • If you use any drug like tobacco or alcohol.
  • Family’s medical history.
  • Whether or not you participate in dangerous activities.


The process of underwriting involves assessing an applicant’s risk profile to determine whether the policy being applied for is suitable or some changes are required. 

Underwriting involves looking at factors that may affect your mortality such as your health and type of lifestyle. Underwriters may also assess your financial stability and ability to pay for the policy.

For Trinity Life and Family Benefit, the underwriting process mostly occurs online. The process is majorly conducted through telephone interviews and any paperwork that needs to be filled may be submitted via fax, the agent’s portal, or a telephonic submission.

How to Sell Trinity Life Family Benefit’s Final Expense Product?

Sell Trinity Life Family Benefit’s Final Expense Product

To sell the Trinity Life Family Benefit’s Final Expense Product, gather information about the interested applicant. That way you can determine what is the best final expense product for them. Present them with the options that best suit their needs and the rates. 

This pitch cannot be done over the phone. Once they have settled on a package, they can begin the application process. The application type can be a paper application with a point-of-sale interview, it could also be paperless with a telephonic interview. 

In the case of a paper application, the submission can be uploaded to the agent’s portal or faxed.

The average turnaround time for the policy issue is usually between 24-48hours. The First Draft can be ready within 45 days of the effective date of the policy. The acceptable payment methods for the policy Direct Express, Bank account, or Debit/Credit card.


While Trinity Life Family Benefit Life Insurance Company, has very competitive and affordable premiums with great benefits, there are a few downsides to taking up a final expense policy with them. One of the drawbacks is that they do not have an e-application process. 

While their telephone application process is good, the e-application would mean even lesser amendments and go-backs.

Another drawback is that the company limits the number of reloadable debit cards and direct express clientele. This is because such payment methods have higher chances of lapsing. They are also not as profitable as a normal bank draft.

Conclusion (Final Thoughts on Trinity Life and Family Benefit)

Although still being fairly new to the market, Trinity Life and Family Benefit Life Insurance has a good financial standing. It is also reliable when it comes to paying out the death benefits when the time comes. 

The cost of the policies is affordable and the conditions set for qualifying are more lenient than with other companies. The final expense for non-smokers is the lowest rate offered in the market. The application process also involves fewer paperwork thanks to the telephone application process. 

Overall, the Trinity Life and Family Benefit Life Insurance is an excellent option for those looking for easy access to funds when collecting death benefits.