Final Expense Insurance

Final Expense Insurance is not a subject people like to talk about. Believe it or not, everyone will need to deal with it. The typical cost of a funeral in Huntington Beach is around $7,000, that does not include any debt. When someone dies that is close to you there are many things to take care of. You do not want the cost of the funeral to get in the way. Something to recognize is the life expectancy for a male in California is 76 years old.

Below are the typical final expenses for usual funeral costs in California.

Basic Services                                                $1,589

Transfer to funeral home                             $439

Embalming                                                    $585

Dressing & casketing                                    $254

Viewing & visitation                                    $393

Funeral Service                                             $577

Hearse                                                          $363

Utility Vehicle                                               $191

Median-price Casket                                    $2,500

                                                                     =====

Total                                                             $6,889

Please remember the funeral expenses do not include the outstanding debt of the deceased.

There are two types of final expense insurance.

Simplified Life Insurance: The premiums are typically lower than Guaranteed Issue policies. With Simplified Life you of course will need answer medical questions, but, not have to take a physical examination. You do not need to have a blood or urine test. Based on the answers you give, the insurance company will determine if you qualify. With Simplified Life you can qualify for coverage up to $50,000.

Guaranteed Issue Life Insurance: The premiums are typically much higher because there are no medical questions or examination. This is usually what you see on TV commercials and other advertising. The coverage is also much lower, normally $25,000, or less. In addition this policy may have a death clause, which means, if you die within a certain period after the issue date, your beneficiaries will not receive the full benefit. Instead, they may receive the paid premium back with possible interest at a 10% annual rate.

An Average Premium Quote of $10,000 for a Male Age 51 in Huntington Beach

Simplified Life Policy: From $32 to $48 a month, varying by which company he would qualify for.

Guaranteed Life Policy: From $47 to $99 a month. Since this is a “guaranteed issue” the premium would vary depending on the insurance company.

In Summary:

The younger you are and the healthier you are, will make a difference for the premium of the policy. Welch Insurance offers many companies and can offer different types of final expense coverage. We have helped many people find the right policy to fit their needs.