Final Expense in The Golden State
Millions of Americans live and retire in the beautiful state of California. That makes it a booming market for final expense life insurance. You have likely heard of this state-regulated plan that allows families to pay for final expenses when that time comes. Without coverage in place, costs like funerals, burial, and end-of-life medical care will fall onto your loved ones’ shoulders.
Don’t leave your family with financial problems when you pass away. Life insurance can help, although many people are unable to get a competitive rate on a term life policy.
Final expense insurance may be the solution because you can get covered even with health issues.
What Is Final Expense Insurance?
Having a final expense insurance policy in place allows people to ensure that a death benefit will be paid to their loved ones or other beneficiaries when they die. These plans work similarly to other life insurance policies, except they do not require a medical exam during the application process. Instead of a medical exam, applicants are only required to answer a few medical questions.
These questions are used to determine how much risk will be involved with insuring the applicant. Based on their answers, the insurance company decides how much they should charge for coverage. It is possible to be excluded from certain final expense plans if your answers lead the insurance company to believe that there is too much risk involved with covering you.
What Are Guaranteed Issue Plans?
If you do not qualify for a normal final expense insurance plan, guaranteed issue final expense is an option in California. These plans provide coverage to all applicants, regardless of their health history. Though, they do come at an increased cost compared to other plans. This additional cost is tied to the increased risk that the plan providers must take on to offer coverage across the entirety of applicants.
Get in Touch with an Agent
A final expense plan can be hard to find if you do not know what to look for. That’s why we suggest that you work with an agent from Senior Life Services to find the plan that is right for you. You can get in touch with a final expense agent today by calling 800-548-3249.
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