Life Insurance
What is life insurance?
First and foremost, it’s a way to protect your family and those who depend on you for financial support. It can provide a large, income tax-free payout to help them carry on if you pass away unexpectedly and some policies have features that can help build family assets.
How can Final Expense Insurance help you?
Member Extras
One-year breakage warranty.
Member discounts on eyeglasses, sunglasses and contact lens at participating network locations.
$50 frame enhancement at Visionworks.
25% discount on laser vision correction (LASIK) at participating providers.
Out-of-Pocket Medical Bills:
Despite Medicare or private insurance coverage, elderly households may still face considerable financial risk from out-of-pocket health care expenses at the end of life.
Legal and Accounting Costs:
The legal proceedings referred to as probate, and related accounting fees, can be a shock to family and loved ones. Probate costs vary by state while the probate process can take months, or years.
Funeral and Burial Expenses:
A funeral can be one of your family’s largest expenses. The average cost of a funeral is $8,300.1 While many believe that cremation is a far less expensive option, data shows that the cost is only 28% less than the traditional funeral.
Final Expense Insurance Features
Competitive Rates
Final expense insurance offers competitive, fixed premiums that do not change over time.
Pays Cash Benefits
The cash benefit from final expense insurance can help cover funeral and burial costs, medical needs or anything else that will help loved ones.
No Physical Exam Needed
Answer a few health questions to apply for coverage, with fixed monthly premiums.
Lifetime Coverage
Your final expense insurance coverage remains in place as long as your premiums are paid up.
Builds Cash Value
Our final expense insurance plans build cash value – a sum of money that can be used to borrow against or use it as a non-forfeiture benefit.
Payment Mode Flexibility
We offer flexible payment options or you can align your payment with your Social Security deposit.
When do people get life insurance?
There’s no time like the present the younger you are, the more affordable your premiums and the more life insurance options you'll have. But a lot of people wait until a significant life event to get coverage.
Three of the biggest include:
1. Getting married
2. Expecting a baby
3. Buying a new home
Other common reasons for getting life insurance are:
1. Taking on the role of a caregiver for a spouse, child, or aging parents
2. Finding employment as a gig worker
3. Becoming self-employed or starting a small business
Final Expense Whole Life Insurance
You can’t always control what happens to you and your family. With Aflac’s Final Expense Whole Life Insurance2, you can help protect their financial security, future and peace of mind – so that money doesn’t have to be the main focus.
Final expense life insurance is a type of whole life insurance policy, but it’s typically less expensive and made to help loved ones prepare for the costs that come in the final stage of life. Surprisingly, final expenses can quickly add up to thousands of dollars. Having a final expense insurance plan can ease the financial burden and allow your family to focus on healing.
Three ways to get life insurance coverage
1. At work
2. Online
3. Through a financial professional
If your needs aren’t so straightforward, consider talking to a financial professional.
If you’re considering permanent life insurance or you’re not sure what kind of protection is best for you it’s a good idea to work with a financial professional. He or she can provide in-depth insurance information about the options that fit your immediate needs and long-term goals.
If you have someone you trust, ask them how much life insurance and what type of policy you should have. Otherwise, Guardian can connect you with a financial professional who will listen to your needs, tell you about the best ways to meet those needs within your budget, then help you decide.
Life Insurance FAQs
Most frequent questions and answers
Life insurance rates depend on several factors, like your age, medical history, nicotine use, lifestyle, and the type of policy you choose. In general, the healthier and younger you are, the lower your policy premiums will be.
When getting a life insurance policy, it’s crucial to consider how much coverage you should secure. While it’s common for a policyholder to get coverage worth several times their salary, your individual needs may vary greatly depending on your family’s financial situation and your personal financial goals. Consider working with a financial advisor who can help you calculate the appropriate amount of coverage for you.
It may be in your best interest to purchase life insurance as soon as possible, especially if you have dependents. The younger you are when you invest in a policy, the lower your premiums will be. If you wait until you’re older, you may have to settle for higher rates.
If you’re the breadwinner and your family depends on your income, a life insurance policy is important. It’s also worthwhile if you have children or own a home. And if you’re a stay-at-home parent, a life insurance policy should be on your radar as it can help cover the cost of childcare, household duties, and other responsibilities you have.
The general rule of thumb is to purchase a life insurance policy that’s at least several times your annual salary. Even if your employer provides life insurance, you’ll likely need additional coverage. This is because many group life insurance policies are capped at one or two times your income.
While both individual life insurance and group life insurance serve the main purpose of providing a death benefit to beneficiaries, there are some key differences to take note of. Group life insurance is a type of coverage that’s typically provided as part of an employee benefits package, while individual life insurance is a policy you can purchase on your own directly from a life insurance company.
We Will Help You Every Step Of The Way
Get In touch
6440 Southpoint Pkwy. Suite 130. Jacksonville, FL. 32216
Phone: (518) 399-4188
You deserve the best attention from our consultants
with 20 years in the insurance area
Our agency has contractual relationships with and represents some of the best and most financially secure insurance companies in the United States including:
