Kansas Funeral Insurance: 12 Expert Questions

Kansas Funeral Insurance
Kansas Funeral Insurance: 12 Expert Questions

The Sunflower State is the pride of this great country, from Perry State Park to Cheney State Park this state resembles what this great nation is about.

One of the least talked about items among Kansans is the inevitable cost associated with the end of one’s life. This is a major financial burden for loved ones attempting to grieve and process what has just occurred.

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

The average traditional burial service in Kansas is $7,650

The average traditional cremation service in KS is $6,201

Location

Burial

Cremation

Derby$7,162$5,912
Hays$6,780$5,280
Garden City$7,759$6,069
Lawrence$7,601$6,240
Manhatten$7,738$6,418
Overland Park$8,680$7,047
Pittsburg$8,350$6,735
Salina$7,190$5,901
Topeka$7,560$6,250
Wichita$7,684$6,153
State Average$7,650$6,201

Not included in the price estimates:

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

Fortunately, the solution to this financial predicament is Funeral Insurance.

Kansas button

Kansas Funeral Insurance

The average age upon death in the state is 76.3 for males and 80.8 for females.

This is right at the national average lifespan.

National Average:

  • Males 76.1
  • Females 81.1

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

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

The most forward-thinking and proactive thing someone can do is to create a financial plan for the end of their life. This is not always easy to do but is extremely necessary.

The first step in this process is understanding the basics of the options that you have.

sun set and farm

12 Expert Questions

1. What is Funeral Insurance?

This product is designed to pay for seniors’ end-of-life expenses. This is done through an easy and affordable monthly payment. In return, the insured receives four promises from the carrier.

Price will never increase: As long as the insured makes the payment each month they will be guaranteed that the price will never raise.

Coverage will never decrease or cancel: The coverage amount is also guaranteed, meaning even if you are diagnosed with a terminal illness or reach a certain age, coverage will stay in effect.

Builds cash value: For each payment that is made a portion will go towards the cash value. This means eventually you will build the cash value into a substantial amount that is able to be borrowed against if needed.

Quick and efficient payout: With a speedy payout to the policyholder’s beneficiary, you are guaranteed that your end-of-life expenses will be paid without causing a financial burden for others.

Fast green car

2. Are there restrictions on what the payout must be used for?

There are no rules or regulations that state what the payout needs to be used for, however, there is a typical list that the lump-sum distribution can help beneficiaries with.

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

3. Captive or Independent Agent: Which is better?

There are very professional and quality agents on both sides of this equation however, the answer to this question simply comes down to the number of choices you have as the consumer.

Captive: This agent is contracted with one single carrier, this is problematic for two major reasons; underwriting and price.

Every carrier has different underwriting standards meaning one provider may be diabetic friendly and another carrier may deny coverage regarding this condition.

The same thought process goes for the price point, every company has ages that are a better fit than others. Some carriers will be great for individuals in their 60’s while different providers will be better for those in their 80’s.

Finding the right policy for your needs requires an agent to gather the pieces to the puzzle and find the product that is the best fit.

Working with a captive agent is like trying to finish a puzzle with half the pieces missing.

four puzzle pieces

Independent: When working with this type of agent you will have all the options you need to find a great plan. Good independent agents will represent many different carriers and have all the pieces needed to finish the puzzle.

stick figure person walking with puzzle piece

Choose independent to find the best plan at the lowest price!

4. What plan should I apply for?

The single best way to find the ultimate plan type for you is by contacting an independent agent that specializes in this niche. Prior to dialing an agent, it is great to familiarize yourself with the different products available in the industry.

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

Every person will be awarded coverage with one of these plans.

four plan types Level Graded Modified and Guaranteed Issue

5. What is the oldest age I can be to get coverage?

Typically carriers will award coverage initially until the age of 85. However, there are a select few companies who will issue coverage until the age of 90.

Coverage never expires but this section is addressing the initial age upon gaining coverage.

6. What is my best plan option?

This will depend on three key variables.

Health: Depending on if you have had a simple or complicated medical history will be a major factor in the plan you could qualify for.

Each carrier has separate underwriting standards and processes, meaning you will want to make sure you find a company that is friendly towards your medical history.

Age: Depending on your age the price will fluctuate greatly.

Gender: If you are male or female will also impact the price, as females pay substantially less for coverage regardless of the company you use.

health age gender

 7. What is a waiting period?

This is a time period that the carrier places on higher risk cases, this period is typically two years though it varies from plan to plan.

If the insured were to pass away prior to the waiting period ending then the beneficiary would receive a predetermined portion of the total coverage amount.

If the insured were to pass away after the waiting period had passed then the beneficiary would be entitled to the entire coverage amount.

8. How do I receive first-day coverage?

The best way to secure a plan with immediate coverage is by contacting a great independent agent.

If you locate a respected agent that has access to many different carriers your chances greatly increase in finding the right plan.

9. What is the difference between the three names used to describe this product?

You will hear the providers use these three terms interchangeably.

Three names for this plan type

There is no difference between these three names, they are simply used for marketing. 

10. Can I take out a policy for my parent?

The simple answer is YES, however, there is more to it. You will need to have your parents sign their names and agree to allow coverage to be taken out on them.

They will also need to be in a healthy state of mind to understand what they are agreeing to.

You cannot insure your parent or loved one without their knowledge.

11. How can I apply for coverage?

You have a few options when applying for coverage, the simplest way to receive a plan is by applying over the phone with an independent agent.

Phone with circle around it

12. How do I secure a quote?

The easiest way to receive a quote is by using the instant quote tool on this page that will show you price estimates. Once you receive your quoted price you will want to contact Willamette Life to confirm the best plan for your specific health history.

Call us at 844-576-0019

6 Reliable Plans

6 Reliable Plans

#1 Mutual Of Omaha – Living Promise (Level)Mutual Of Omaha Logo

This product offers immediate coverage and extremely low monthly premiums. Also, additional benefits can be added to the policy including an accidental death rider.

This is a great product for the healthiest of individuals.

Quick Plan Facts

  • Available ages: 45-85
  • Coverage: $2,000-$40,000
  • Immediate coverage

Visit the blog section under the main menu to read a full review of this plan.

Quotes

Male

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45$27$39$51
50$31$44$58
55$36$52$69
60$44$64$84
65$56$83$110
70$75$110$146
75$100$148$197
80$140$208$276
85$193$288$382
Female

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45$23$32$42
50$24$35$45
55$28$40$52
60$33$48$63
65$41$60$79
70$53$78$103
75$72$107$142
80$98$146$194
85$136$202$269

#2 Foresters Financial – PlanRight (Preferred)Foresters Financial Logo black and white

Foresters Finacial is a Fraternal Benefits Organization and offers a great product for many. This plan includes first-day coverage, fair premiums, and additional benefits offered for members including dental, vision, and hearing discounts.

This is a great product for individuals in good health and who value discounts on additional services.

Quick Plan Facts

  • Available ages: 50-85
  • Coverage: $5,000-$35,000
  • Immediate coverage

Visit the blog section under the main menu to read further about this plan.

Quotes

Male

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45NANANA
50$32$46$61
55$37$54$71
60$45$66$87
65$55$81$106
70$71$104$138
75$103$152$202
80$147$219$290
85$201$300NA
Female

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45NANANA
50$26$38$49
55$31$45$59
60$35$52$68
65$41$60$79
70$52$76$101
75$75$111$147
80$111$165$219
85$166$242NA

#3 Royal Neighbors of America – SIWL (Level)Royal Neighbors Logo black and white

The Level plan offers coverage with no waiting period and respectable monthly premiums.

What makes this product unique is that it only asks nine medical questions and is friendly towards a wide variety of health conditions including being overweight and retinopathy.

We endorse this plan for anyone with past minor health issues.

Quick plan facts

  • Available ages: 50-75
  • Coverage: $7,000-$30,000
  • Immediate coverage

Visit the blog section under the main menu to read more about this plan.

Quotes

Male

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45NANANA
50$40$58$77
55$46$68$90
60$50$74$98
65$59$87$115
70$75$111$147
75$110$164$218
80NANANA
85NANANA
Male

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45NANANA
50$34$49$65
55$38$55$72
60$38$56$74
65$45$66$87
70$56$82$109
75$80$118$157
80NANANA
85NANANA

#4 Sentinel Security Life – New Vantage II (Graded)Sentinel Security Life logo black and white

The New Vantage II product is great for seniors who have had a medical history that could be seen as higher risk to providers.

Offering one of the best waiting period plan structures, if you do fit into this health category move forward with this great option.

Waiting period payout structure

  • Death Benefit in year 1 – 30% of the face amount
  • Death Benefit in year 2 – 70% of the face amount
  • Death Benefit in year 3 and beyond – 100% of the face amount

Quick Plan Facts

  • Age eligibility: 45-85
  • Coverage amount: $1,000-$20,000 (depending on age)
  • 2-year waiting period

Quotes

Male

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45$31$45$60
50$38$56$73
55$50$74$97
60$65$96$127
65$84$124$165
70$110$163$216
75$165$245$326
80$235$351$467
85$326$488NA
Female

Monthly Premiums

Non-Smoking Rates

Age$10,000$15,000$20,000
45$26$37$49
50$32$46$61
55$38$55$73
60$48$70$93
65$61$90$119
70$80$119$157
75$121$180$238
80$173$258$343
85$268$401NA

#5 Guarantee Trust Life – Heritage (Graded)Black and white GTL logo

The Heritage plan is a great option for those with multiple complex medical issues.

Asking only five health questions the majority of individuals will qualify for coverage.

With this fair pricing and lenient underwriting comes a two-year waiting period with a very favorable payout in year two.

Waiting period details:

  • Death Benefit in year 1 – paid premiums plus 5%
  • Death Benefit in year 2 – 50% of the face amount
  • Death Benefit in year 3 and beyond – 100% of the face amount

Quick Plan Facts

  • Available ages: 40-90
  • Coverage: $2,500-$25,000
  • 2-year waiting period

Visit the blog section to read further about this great plan.

Quotes

Male

Monthly Premiums

Age$10,000$15,000$20,000
45$47$68$89
50$51$74$97
55$55$80$106
60$67$99$131
65$80$118$156
70$102$150$199
75$139$206$274
80$232$346$461
85$300$449$597
Female

Monthly Premiums

Age$10,000$15,000$20,000
45$34$49$64
50$36$52$67
55$42$62$81
60$51$74$97
65$60$88$116
70$73$108$142
75$102$151$201
80$165$245$326
85$191$284$377

#6 AIG (Guaranteed Issue)

The final plan on the list is a Guaranteed Issue product. This means that no medical questions are asked and virtually everyone is approved.

This plan should be reserved for anyone with chronic or terminal illnesses.Black and white AIG logo

If you do fit in this category and cannot qualify for Guarantee Trust Life, we recommend using AIG’s plan.

It has very affordable guaranteed acceptance pricing and living benefits which is rare for this type of plan.

2-Year Waiting Period Payout Details

  • Months 0-24: All premiums paid +10% are given to the beneficiary
  • Months 24+: 100% of the face amount will be paid out of the beneficiary

Is this Guaranteed Issue plan from AIG right for me?

If you have one of the following medical conditions, use this plan.

  • AIDS, ARC, HIV
  • Bedridden
  • On Hospice
  • Diagnosed with a terminal illness
  • Confined to hospital, nursing home, mental care, or long term care facility
  • Currently have or receiving treatment for invasive cancer
  • In the past 24 months diagnosed with: Alzheimer’s, Dementia or Memory Loss, receiving Kidney Dialysis, 24-hour Continuous Oxygen use, Implanted Difibulator, or Organ Transplant

Quotes

Male

Monthly Premiums

Age$10,000$15,000$20,000
50$53$79$104
55$58$80$128
60$65$96$142
65$86$128$189
70$101$150$221
75$142$212$331
80$206$309$416
85NANANA
Female

Monthly Premiums

Age$10,000$15,000$20,000
50$37$54$76
55$44$65$98
60$51$76$113
65$63$94$139
70$76$113$168
75$110$164$241
80$180$269$393
85NANANA

Person with three thoughts

Final Thoughts

a. Kansas Funeral Insurance has many great plan options available. There are plans for the healthiest of people to those with a more complicated medical history.

b. Contact an independent agent to secure a great product at the best price for your specific health history.

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