Alaska Final Expense Insurance: 10 Effective Questions

Alaska Final Expense Insurance
Alaska Final Expense Insurance: 10 Effective Questions

The Last Frontier is truly in a class of its own. From beautiful Chugach State Park and The Denali National Forest up to The Gates of the Arctic National Park, this state is on another level.

The item that might not be at the forefront of Alaskan’s minds is the cost associated with the end of one’s life.

This can be a major financial shock for loved ones attempting to grieve and process the death of a family member.

Funeral costs can range over a wide variety of price points depending on several factors.

The average traditional burial service in Alaska is $7,348

The average traditional cremation service in AK is $5,820




Anchorage $7,605 $6,091
Wasilla $7,091 $5,548
State Average $7,348 $5,820

Not included in the price estimates:

  • Cost of Headstone, Monument, or Marker
  • Cemetery Property, Plot of Land, Columbarium, etc.

Fortunately, this is where final expense insurance can help ease the monetary burden.

Alaska outline

Alaska Final Expense Insurance

The average age upon death in the state is 76.7 for males and 81.1 for females.

This is right at the national average both for men and women in terms of lifespan.

National Average:

  • Males 76.1
  • Females 81.1

Listed below are the top 10 leading causes of death in the state.

  1. Cancer
  2. Heart Disease
  3. Accidents
  4. Chronic Lower Respiratory Disease
  5. Stroke
  6. Suicide
  7. Chronic Liver Disease/Cirrhosis
  8. Diabetes
  9. Alzheimer’s Disease
  10. Flu/Pneumonia

No one knows when their health will decline, this makes it of the utmost importance to create a financial plan to leave your loved ones in a situation where they can celebrate your life rather than take on additional costs from it.

water and mountains with snow

10 Effective Questions

1. What is Final Expense Insurance?

This is a type of Whole Life plan which means you will receive a few top-notch benefits with the policy.

Guaranteed payout: Your beneficiary will be assured a payout once the insured has passed. The only thing the policyholder needs to do is continue to make the monthly premium payment.

Quick payout process: Once the provider receives the death certificate the beneficiary will receive a check in a matter of days. Other products on the market can take weeks or even months to receive the money.

Coverage never terminates or decreases: You can be guaranteed that your coverage will never change or expire, when purchasing a product that is meant for your end-of-life expenses it is key that the policy is still active at the end of your life.

This product is!

Price never changes: Any senior or adult on a fixed income knows how important their budget is each month. When you take out this type of policy you will be guaranteed that the price will never raise and will always be the same.

Builds cash value: For each payment made a small portion will go towards the cash value. Over time this account will build and the policyholder will be allowed to borrow from the plan.

2. Distribution payout: What can it be used for?

There is no mandate that says what final expense insurance covers, however, there is a list of items that are typically purchased by the beneficiary.

  • Cremation
  • Memorial/Celebration of Life
  • Leaving an Inheritance
  • Credit Cards
  • Legal Expenses
  • Medical Bills
  • Charity Donations
  • Post-Mortem Expenses
  • Remaining Balance on a Mortgage
  • Remaining Car Loan Balances
  • Other End-of-Life Expenses

3. Captive or Independent Agent: Which is better?

Both of these agents are able to obtain satisfactorily coverage but to receive elite coverage one is better than the other.

Captive: This agent is tied to one carrier and its products. Typically this type of professional will be someone representing a company with a big brand name and many television commercials.

These are well-respected companies and a life policy from them may look fine on the surface, but when taking a deeper look it is more complicated.

Each carrier has there own underwriting rules and guidelines. What this means is that one company may approve someone with a recent TIA, and another company will deny this same medical condition.

A similar point can be made for the cost, each carrier dictates its own price point, two products could be essentially the same but one company may charge a much higher price.

Independent: This agent is able to represent as many companies as they choose. Meaning a highly rated Independent Agent will have the right company for every medical condition and budget.

Choose independent and give yourself the greatest opportunity to find the best coverage and price for you.

4. What is the best way to qualify for coverage?

You can attempt to qualify for coverage through many different sources including direct mail, tv commercials, and your local neighborhood agent. However, to find the best coverage at the lowest price point for your specific health history you will want to call an independent agent.

Prior to phoning a professional, it is best practice to familiarize yourself with the four different plan types.

  • Level: Great Health
  • Graded: Average Health
  • Modified: Past Health Concerns
  • Guaranteed Issue: Major Medical Issues

Every applicant will qualify for at least one of these plans.

5. What age can I obtain coverage until?

The majority of providers will award initial coverage until the age of 80-85.

There are a select amount of companies that will provide initial coverage until 90 years old, two of these carriers are Aetna and Guarantee Trust Life.

This section is speaking on initial coverage only, once you receive your policy it will never expire.

 6. Waiting period: What is this?

This is a time restriction placed on higher risk policy. It works as a trade-off from the company to the insured, the carrier will provide coverage but will hedge their risk by applying a waiting period.

This time restriction is typically two years from the day the policy was issued.


If the insured passed away before the waiting period was over then the beneficiary would receive a partial payout.

However, if the insured died after the waiting period ended the beneficiary would receive the entire coverage amount.

7. How do I secure first-day coverage?

Contact an independent agent who is able to compare different plans on the market and find the right fit for your medical conditions.

There are certain medical conditions that will not qualify for immediate coverage, speak with your agent to learn more.

8. How is the price determined?

There are three key factors that will play a role in how the price is calculated.

Your Health: Depending on your health history your coverage options could vary drastically. This is because every carrier has a different risk tolerance when it comes to underwriting.

The healthier you are the lower you can expect your premium to be, and the more complicated of medical history you have the more you can expect to pay.

Your Age: The initial age on the day you apply for coverage will have an effect on price. As discussed earlier the price will never increase however each year you wait to buy coverage the more the price will be.

Buy coverage sooner rather than later and save.

Your Gender: On average females live four years longer than males do. Through the lens of the carrier they are able to charge less for females due to this reason and some other variables.

9. There are a few names to describe this product: Which is correct?

The providers will use three names interchangeably to market this product.

Quick tip three plan types

There is no difference between these three names.

10. How do I secure a quote?

The fastest way to receive your monthly price estimate is to use the quote machine on this page. Simply put your age, state, and coverage amount to generate results.

There will be a wide variety of companies and prices that pop up.

To know which company and plan you qualify for give Willamette Life a call at 844-576-0019.

Final Thoughts

a. Alaska Final Expense Insurance is a great option for those who are looking for an easy solution to combat the inevitable end-of-life expenses.

With a simple and affordable monthly payment, you can be assured your family will have the resources needed to help take care of leftover bills.

b. Work with an independent agent to find the best coverage at the lowest price.

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