FAQ

Proceeds from a life insurance policy can be used for various financial needs. Though they are meant to cover funeral costs there are other financial obligations to consider that survivors may or may not be able to pay. For example, money for the mortgage or the rent. Money to move belongings. Money to bring in family members. Money to buy food for out of town relatives. Money to transport the body. There are a lot of small incidentals that can add up. While it is a fact that premiums for life insurance tend to be higher for seniors, it does not mean there are no choices available. In reality, there are affordable senior life insurance policies that cater to individuals who wish to provide cash benefits for their family or guarantee that their final expenses are adequately covered. Or at the very least to leave some money behind to take care of those unexpected financial obligations.

Planning a funeral can be a challenging and emotional task, and it's important to consider all the costs associated with it. Here are some expenses that people often overlook when planning a funeral: Cemetery or burial plot fees: The cost of purchasing a cemetery plot or a burial space in a mausoleum is often overlooked. These costs can vary depending on the location and the cemetery. Opening and closing of the grave: There are charges associated with the excavation and preparation of the grave, including labor and equipment costs. These fees may not be included in the initial burial plot purchase. Headstone or grave marker: The cost of a headstone or grave marker can be significant, depending on the material, design, and customization options chosen. Embalming and body preparation: If you opt for embalming, cosmetic preparation, or other body preservation methods, there will be associated costs. These expenses can be substantial, especially if additional treatments are required. Funeral service or memorial service fees: The cost of hiring a funeral director, staff, and obtaining necessary permits is often expected. This may include expenses for organizing the service, coordinating with clergy, musicians, or speakers, and preparing printed materials such as programs or memorial cards. Transportation: Transportation costs can include moving the deceased to the funeral home, transporting the body for the burial or cremation, and providing transportation for the family and mourners during the funeral. Cremation or burial costs: If you choose cremation, there may be fees associated with the crematory, urn, and any additional services such as witnessing the cremation. Burial costs can include a casket, burial vault, and other necessary items. Obituary and death certificate fees: Publishing an obituary in a newspaper or online platform may have associated costs. Additionally, obtaining certified copies of the death certificate for legal purposes can also add to the expenses. Reception or catering services: If you plan to host a reception or provide catering services after the funeral, the cost of food, beverages, and venue rental should be considered. Miscellaneous expenses: Other costs that may arise include flowers, funeral procession escort, clergy or celebrant fees, honorariums for pallbearers, and memorial or tribute items. There are many costs people are not aware of. It's important to be prepared and not leave your loved ones scrambling when they should really be allowed to grieve. The stress of trying to figure out where the money is coming from may interfere with the grieving process.

I specalize in final expense insurance to cover burial and to leave money to survivors to help them pay for things like rent, mortgage, transportation, food, hotels, etc. Everyone of course needs burial money, but there is also a need for some families to get a term policy to provide for minor children, or to cover the mortgage. Contact me so we can have a conversation to determine your needs. Eva Suzuki (562) 458-5854 calleva2day@gmail.com

Term is temporary. Whole Life lasts forever, as long as you make the payment. Many people do not read their policies. And some agents do not ask enough questions. And then some clients "just want the price" and end up getting an incorrect product. We have unfortunately met many who found out their policy payment is going up, oftentimes now unaffordable. Or they find out they can no longer qualify. This happens when the policies are term. It pays to take the time to have a solid conversation with your agent, and preferably that agent ask a lot of questions, to make sure they put you in the right policy. If you want to purchase final expense insurance it should be a whole life policy, one that lasts forever. Term does have its place, but not for final expense.

Agents should ask you a lot of questions. The main reason is to make sure the agent understands what kind of insurance you are looking for. Some people buy insurance that turns out to be temporary insurance or worse yet, AD&D (accidental death and dismemberment) and the client thinks they have purchased whole life insurance. The only way to find out is for the agent to ask questions. This way they can guide the client and educate them as to how insurance works.

Beneficiaries have the right to request information regarding a policy. But the insurance company is obligated to protect privacy so you may be required to provide evidence of your relationship or identity to the insurance company. To open the claim, you'lll need several important documents, including: The full name of the deceased, including any maiden name Social Security Number (SSN) of the deceased Death certificate of the policyholder Proof of your relationship to the deceased and/or your own identity Contact the life insurance company that issued the policy, and they will guide you through the necessary steps. In the event that no one claims the death benefits, insurance companies transfer the unclaimed funds to the state's unclaimed property office, usually under the jurisdiction of the State Treasurer. You can find the contact information for these offices on the website of the National Association of Unclaimed Property Administrators. Is it possible to be a beneficiary of a life insurance policy without being aware of it? Yes, it is possible. There is no requirement for the policyholder to notify individuals when they are listed as beneficiaries on a policy. If you will be responsible for settling the deceased person's estate or covering their final expenses, such as funeral costs, it is important to know how to determine if they had a life insurance policy. Asking your loved ones directly is the simplest approach, but if that is not feasible, the steps mentioned above can assist you in locating the necessary documents. And of course if you have purchased a policy, be sure to be frank and upfront with your loved ones and discuss the details of what you want to happen, that you have a policy and how to access those funds when the time comes. Your insurance agent can guide you in this.

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