South Carolina Final Expense Insurance: 10 Answers To FAQ’s

South Carolina Final Expense Insurance
South Carolina Final Expense Insurance: 10 Answers To FAQ’s

In the Palmetto State, there is a lot to be thankful for. From Myrtle Beach down to Hilton Head Island, up to beautiful Ceasers Head State Park, and everywhere in between. South Carolinians have one of the most diverse sceneries and gorgeous states in the country.

Typically the item that is not discussed or thought about regularly is the bills associated with the end of one’s life, this is a major unexpected cost to be put on family members and loved ones.

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

The average traditional burial service in South Carolina is $7,624

The average traditional cremation service in SC is $6,212

Location

Burial

Cremation

Aiken $7,744 $6,262
Anderson $7,489 $6,003
Charleston $8,890 $7,395
Florence $7,338 $5,938
Greenville $7,877 $6,470
Greenwood $7,942 $6,533
Hilton Head Island $7,432 $6,012
Myrtle Beach $7,032 $5,701
Rock Hill $6,837 $5,543
Spartanburg $7,655 $6,267
State Average $7,624 $6,212

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 be an extremely financially responsible way to pay for these inevitable costs.

South Carolina outline

South Carolina Final Expense Insurance

The average age of death in the state of South Carolina is 74.4 for males and 79.6 for females.

This is a shorter life span than the national average.

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. Accidents
  4. Chronic Lower Respiratory Disease
  5. Stroke
  6. Alzheimer’s Disease
  7. Diabetes
  8. Kidney Disease
  9. Septicemia
  10. Suicide

Every South Carolinian knows a loved one, friend, or family member who has been negatively affected by one of these medical conditions. Take the steps today to secure the funds for your end of life expenses so your family does not have to.

Boat in the bay at sunset

10 Answers To Frequently Asked Questions

1. What is Final Expense Insurance?

This product is a type of whole life coverage. Every whole life product offers the same three benefits.

  • Coverage lock: coverage never decreases
  • Price lock: The price will never raise
  • Builds cash value: Over time the policy will generate a cash component to it and allow you to borrow from your plan.

Specifically when looking at end-of-life policies the biggest difference from the traditional plans is the size of the policy. Final Expense Insurance plans have a much smaller face amount allowing for a much more reasonable monthly premium payment.

2. What can the financial distribution be used for?

There are no rules or requirements when it comes to payout usage. However, there is a standard set of items that most beneficiaries use the payout for.

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

3. How can I qualify for a plan?

The best way to qualify for a plan is to speak with an independent agent that represents multiple carriers. This will assure that you receive the best coverage at the lowest possible price

4. How old can I be and still get coverage?

Most carriers stop providing coverage to applicants at the age of 85. Although there are a few select carriers that will allow initial coverage up until the age of 90.

5. What is the best type of plan?

This will depend entirely on your health. The best plan for you is most likely not going to be the best plan for your friend or neighbor.

We have listed the four categories of plans based on health concerns.

  • Level: Healiest Clients
  • Graded: Average Health
  • Modified: Past Health Concerns
  • Guaranteed Issue: High-risk Health Conditions

Depending on your health you will fall into one of these four categories.

6. What is a waiting period?

A waiting period is a restriction that the carrier places on high-risk individuals. Meaning if you were to pass away during the waiting period the beneficiary would receive a predetermined portion of the full coverage amount.

7. Is the policy worth the cost?

The answer to this question is determined by you and your family’s personal financial situation.

This product is designed for seniors to make a simple and affordable monthly payment that then gives peace of mind knowing the end-of-life expenses will be taken care of.

Relieving your family of a financial burden is always worth it.

8. How much will Social Security pay for?

Social Security will pay a maximum of $255 for your final expenses. This is not in the ballpark of what is actually needed to properly celebrate one’s life.

9. Can I purchase the policy for a family member?

Yes, you can, but there are stipulations regarding the purchase. The proposed insured will need to be able to sign their name and be in a mental state that allows them to understand what they are agreeing to.

Also, the individual needs to have an insurable interest and cannot be someone random that you have never met. So a family member would meet these criteria.

10. How do I get a quote?

The fastest and easiest way to see how much you would need to pay per month is to use our instant quote tool on this page.

Or for a more detailed and specific quote, you can call Willamette Life directly at 844-576-0019.

Why Willamette Life

At Willamette Life, all of our efforts and resources focus exclusively on Final Expense Insurance. Meaning we have experts that can help navigate all the different plan types.

There are many unique things about each company and plan, it is best to speak with us to help find the right piece to the puzzle!

Final Thoughts

a. South Carolina Final Expense Insurance is both affordable and easy to qualify for.

If you are a healthy individual your best plan option is Mutual of Omaha’s Living Promise plan. However, there are many affordable options in the state.

b. Work with an independent agent that has access to many different carriers and plans.

There is not a one size fits all policy, so you need to find a plan tailored for you.

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