Final Expense in The Last Frontier
Death is an expensive process for many. There are a variety of things that must be paid for when you die, and these costs may end up becoming a financial burden on your family. With a Final expense insurance policy, the risk of burdening your family can be mitigated. Keep reading to learn what final expense insurance options look like in Alaska.
What Is Final Expense Insurance?
Final expense insurance is a type of life insurance. It is similar to whole life insurance, except these plans do not require a medical exam and they offer less benefits than a traditional life insurance policy. Some other common names used for final expense insurance are burial insurance and funeral insurance.
In Alaska, final expense plans tend to function the same way any whole life insurance policy would. After purchasing the policy, policyholders are required to make premium payments on an ongoing basis. In exchange for these payments, they can insure themselves or another person. The insurance will pay out a death benefit if the insured person passes away while the policy is active.
Final Expense Benefits in Alaska
The benefits offered by final expense plans do not vary much from state to state. Though, you may find that plans in Alaska will have less variety than in some other states. In general, expect a final expense insurance policy to offer death benefits ranging between $2,000 and $40,000. Sometimes plans can offer a higher amount, but this is rare.
When the insured person dies, the money will be dispersed to the beneficiaries. You get to choose who the beneficiaries are, so the decision of who gets the money is entirely up to you. To get help selecting the best beneficiaries for your situation, work with an insurance agent today.
Choosing a Final Expense Plan
If you are interested in buying a final expense plan, the best method of finding one is searching through a final expense agent. Senior Life Services will gladly help you find coverage in Alaska. To start shopping for a plan, call 800-548-3249 for a free quote.
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