INSURANCE SERVICES

You Need Peace of Mind for You and Your Loved Ones

Losing a loved one can be such a stressful time and emotionally overwhelming. With countless decisions by loved ones to be made, final expense insurance helps you plan ahead to ease the financial burden that is placed on family when a loved one dies.

No one likes to talk about death or dying, but we all know:

• Someone who has died suddenly or sooner than expected.
• Someday, we will all need to plan a funeral.
• Someday, we will all die.

Being as prepared as you can be for any unforeseeable expenses is the primary reason to consider a final expense insurance policy.

What is Final Expense Insurance?

Final expense insurance is an insurance policy used to pay for burial expenses and funeral services when the named insured dies. This type of insurance policy helps ease the financial burden placed on a family when a loved one dies.

Standard whole life insurance policies can cover funeral and burial expenses, however final expense insurance policies offer superior coverage due to their lower face value when compared to traditional life insurance policies.

Estimating Funeral and Cremation Costs

There are many decisions to be made: Where will your final resting place be? Do you want to be cremated or buried? What type of casket do you want? How do you want to be remembered?

Funeral expenses can vary depending on where you live, in urban or rural areas. These expenses can range from $5,000 to as much as $25,000. According to Parting’s funeral tips, the average cost of a funeral is $7,000.

You should talk to a licensed, reliable funeral director in your community to get a list of the services and products they provide.

Applying for Final Expense Insurance

The process for applying for final expense insurance is a relatively easy one. It requires that you complete a basic medical questionnaire and meet specific qualifications, or for a guaranteed issue plan, which requires no questionnaire or medical exam and guarantees acceptance of your application.

If you have a serious health condition, you may be required to purchase a policy with a graded death benefit, which provides coverage after the first few years of your participation.

In the State of California, there are two final expense insurance options—term and whole coverage. Term is an affordable option, and it is designed to provide temporary coverage, while whole options consist of lifelong policies.

Ocean Pointe Insurance Solutions – Protecting one client at a time!

• Life Insurance
• Final Expense Insurance
• Disability Insurance