Arizona Final Expense Insurance: 8 Intriguing Questions

Arizona Final Expense Insurance
Arizona Final Expense Insurance: 8 Intriguing Questions

In the Grand Canyon State, sunsets are a little prettier, and the sun shines brighter than the rest of the country. From Tuscon to Flagstaff, Arizonans have a gorgeous state to be proud of.

However, it is easy to forget the end-of-life bills with all of this beauty. When a family is attempting to process the death of a loved one, the financial aspects can be daunting.

Fortunately, final expense insurance is a great product to help take care of any monetary burden.

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8 Intriguing Questions About Arizona Final Expense Insurance

1. What is Arizona Burial Insurance?

Burial insurance for seniors is designed to make a simple and affordable monthly payment, and in return, the provider will guarantee three benefits.

Price Lock: The price will never increase. This is a critical feature for so many seniors who are on a fixed income. Policyholders can be assured the price they pay moving forward will never change.

Coverage Lock: The coverage will never decrease, meaning your beneficiary can know the payout amount years ahead of the policyholder’s death.

Builds Cash Value: For every payment made, a portion will go towards the cash value. Over time this account will grow and allow the policyholder to borrow against the plan if they choose.

2. What Can the Beneficiary Use the Payout For in AZ?

There are no rules or regulations that say what the Arizona funeral insurance payout must be used for. However, there is a typical list of items that are purchased with the policy funds.

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

3. How Old can I Be and Still Receive Initial Coverage?

Typically companies will offer initial coverage until the age of 85. However, you can find specific companies willing to award initial coverage until the age of 90.

 4. What is a Waiting Period in AZ Final Expense Insurance?

A waiting period is a time restriction that a company places on high-risk cases. The restriction period is usually two years, but this can vary from company to company.

How it works: If the insured passes away before the waiting period ends, the beneficiary will receive a predetermined portion of the coverage amount. If the policyholder dies after the waiting period, the beneficiary will receive the entire coverage amount.

5. How Do I Receive Coverage With No Waiting Period in Arizona?

Every carrier has different underwriting standards, so finding a company that will provide coverage to your specific conditions is the top priority. The best way to find companies suitable for you is by working with a highly rated independent agent. These agents will have access to many different plan types.

6. Which Company Offers the Best Arizona Burial Insurance Coverage?

Finding the best Arizona funeral insurance company will depend on three key factors.

Health: Coverage options can vary drastically depending on your medical history. Each company has unique underwriting standards.

Age: Your age has a significant impact on price. The older you are when you initially apply for coverage, the higher your cost will be.

Gender: Your gender also plays a role when it comes to price. Females will pay less for coverage than males.

7. How much AZ Burial Insurance Coverage can I Take Out?

Most companies start at $2,000 of coverage and typically top out at $25,000 whole life plan options. However, some carriers will insure $40,000 – $50,000 of final expense insurance protection.

8. How Do I Secure an Arizona Funeral Insurance Quote?

The simplest way to secure a quote is by using the online quote tool on this page.

To know which plan you qualify for, contact Willamette Life at 844-576-0019.

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How Much Does A Funeral Cost In Arizona?

Burial expenses can range over a wide variety of price points depending on where you live in the state. The average traditional burial service in Arizona is $6,920 and $5,639 for cremation.

Location

Burial

Cremation

Casa Grande $7,948 $6,505
Chandler $7,128 $5,798
Cottonwood $6,650 $5,500
Fountain Hills $6,495 $5,340
Kingman $6,010 $4,885
Phoenix $7,021 $5,703
Prescott $6,868 $5,595
Show Low $7,035 $5,710
Tuscon $7,032 $5,711
Yuma $7,013 $5,643
State Average $6,920 $5,639

Not included in the price estimates:

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

Lifespan Statistics In AZ

The average age of death in the state is 77.3 for males and 82.8 for females. This is above the national average for both men and women.

National Average:

  • Males 76.3
  • Females 81.4

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

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

No one knows when their health will fail them. A proactive thing everyone can do is create a plan to leave financial resources behind for loved ones instead of leaving this burden on them.

Final Thoughts About Arizona Burial Insurance

a. Arizona final expense insurance is both accessible and affordable. This product is a perfect financial option for seniors on a fixed income looking to leave a lump sum of money behind for their loved ones.

b. The payout can be used for whatever the beneficiary deems necessary. This gives families extreme flexibility to honor the deceased.

c.  Work with an independent agent who specializes in burial insurance. This will make sure you have the best opportunity to qualify for the best plan possible.

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