Washington Final Expense Life Insurance: How to Buy + FAQs

iSeniorBenefitsPosted in Insurance By State last updated on October 31, 2023

The importance of having a Washington final expense life insurance policy cannot be understated. As we age, it becomes increasingly necessary to make sure our loved ones are taken care of in the event that something happens to us.

Final expense policies provide peace of mind and financial security for those left behind after an individual passes away, but they can also be complicated and expensive if you don’t know what you’re doing when selecting a plan.

In this blog post, we’ll explore the basics of final expense life insurance in Washington: funeral costs, burial laws, sample rates by gender and steps to buy a policy from one of the best companies offering these plans. Get informed on Washington final expense life insurance today.

What is Final Expense Life Insurance?
Funeral Costs in Washington
Burial and Funeral Laws in Washington
Sample Rates for Washington Males and Females
Steps to Buy a Final Expense Life Insurance Policy
Best Final Expense Life Insurance Companies
FAQs in Relation to Washington Final Expense Life Insurance
Conclusion

What is Final Expense Life Insurance?

Final expense life insurance is a type of policy designed to cover the costs associated with end-of-life expenses. It is typically purchased by seniors over the age of 50 who want to ensure that their loved ones are not burdened with these costs after they pass away.

Also referred to as burial insurance, this type of life insurance can help provide peace of mind for those nearing retirement or already retired, as it can give them assurance that their family will be taken care of financially in the event of their death.

Final expense policies usually have lower premiums than other types of life insurance and often require no medical exam or health questions, making them easier to obtain than traditional policies.

Final expense policies typically provide coverage at $2,000 to a $50,000 burial policy and may include additional benefits such as accidental death protection or accelerated benefit riders.

Key Features of Washington Final Expense Life Insurance

Washington residents need to be aware of the primary details of this form of coverage before making a purchase.

Coverage is permanent as long as you pay your premiums.
Applicants typically need to be between 50 – 85 years old (other ages are accepted).
Applications are simple and no medical exam is required.
You can buy a policy from the comfort of your home.
A modest amount of cash value builds that can be accessed in a minor emergency.
Living benefits are optional in case of a terminal illness diagnosis.
Policies are designed to pay for the price of a funeral.

It is essential for those considering purchasing final expense life insurance to compare different plans offered by various companies before making a decision, as there may be discrepancies between them regarding eligibility requirements, premium rates and available benefits.

This could have an impact on the amount you pay out each month or what kind of services your beneficiaries receive upon your passing, so it is important to review all options carefully.

Burial insurance for seniors can provide peace of mind and financial security for older individuals in Washington, allowing them to plan ahead and cover the costs associated with end-of-life expenses.

With this knowledge, let’s take a closer look at funeral costs in Washington.

Key Takeaway: Final expense life insurance is a type of policy designed to cover end-of-life expenses and can provide peace of mind for those nearing retirement or already retired.

Funeral Costs in Washington

The price of a funeral in Washington varies greatly depending on the services chosen. Generally, a traditional funeral service will cost between $7,000 and $10,000.

This includes the cost of cremation or embalming, casket selection, viewing and visitation fees. It also covers transportation of the body to either the cemetery or crematorium for burial or cremation.

When planning a funeral in Washington state, it is important to understand what is included in these costs so that you can make an informed decision about how much money you need to budget for your loved one’s final arrangements.

Costs Associated with Funeral Proceedings

Embalming fees are typically around $500-$600 but may be higher if special chemicals are needed due to medical conditions such as diabetes or heart disease.

Caskets range from basic wooden models at around $1,000 up to more elaborate metal designs which can cost several thousand dollars more.

Viewing and visitation fees depend on whether there will be an open-casket ceremony or not; generally this ranges from $200-$400 with additional charges for use of chapel facilities if desired by the family.

Transportation of the body usually runs between $250-$450 depending on distance traveled and any other special requirements such as refrigerated transport if necessary due to delays before burial or cremation takes place.

Additional Expenses

When planning for a funeral service in Washington State it’s important to consider any additional expenses such as flowers and other decorations – which could add hundreds more onto the final bill.

Additionally there may be charges associated with obtaining death certificates and permits required by local governments prior to burial or cremation taking place.

Note – a death certificate is required in order to file a life insurance death claim.

These fees can range anywhere from $20-$50 per document depending on where you live within the state boundaries.

Finally don’t forget about transportation costs for family members who may live out of town and wish to attend services at different locations throughout Washington State (i.e., church vs cemetery).

It is important to note that many funeral homes offer discounts on certain services, so it pays off to shop around before making any decisions regarding your loved one’s final arrangements.

Ask about special packages they might offer that could help reduce overall costs associated with funerals held within Washington State boundaries.

Seniors often secure funds for their funeral through a burial insurance (final expense) policy so that their loved ones are not searching for free places for burial.

Funeral costs in Washington vary depending on the type of service desired, but are typically expensive. It is important to understand the burial and funeral laws in Washington before making any decisions, as they may have an impact on the cost of a funeral.

Key Takeaway: Funeral costs in Washington can range from $7,000 to $10,000 depending on the services chosen. Key elements to consider include casket selection, embalming fees, viewing and visitation arrangements and transportation of the body. Additional expenses such as flowers and permits may also apply.

Burial and Funeral Laws in Washington

Burial and funeral laws in Washington are put in place to ensure that funerals are conducted with respect and dignity. In order for a funeral service to take place, certain legal paperwork must be completed first.

Death Certificate

Death certificates must be obtained from the county health department or medical examiner’s office before any other arrangements can be made.

The death certificate is necessary for filing for permits, obtaining cemetery plots, and transferring ownership of property, and filing a life insurance death claim.

In addition to the death certificate, a burial permit must also be obtained from the local health department prior to interment or cremation.

This permit is required by law and will list all information regarding the deceased such as name, date of birth and death and cause of death.

Permissions

For those who wish to have their remains buried in a cemetery plot within Washington state, they must obtain permission from both the city and county government, as well as any private entities that own land within that area (such as churches).

Permission forms should include details about how long you plan on occupying the space and what type of memorial marker you intend on placing there (if any).

Special Paperwork

Finally, when planning a funeral service it’s important to keep in mind that certain religious ceremonies may require additional paperwork, depending on your faith tradition.

For example, Catholic services typically require an official letter from your parish priest granting permission for use of church grounds.

Jewish services often require special permits due to dietary restrictions associated with kosher foods being served at receptions following services.

Overall, it is important for families planning funerals in Washington state to understand all relevant laws so that they can ensure everything goes smoothly during this difficult time without encountering any unexpected issues.

Embalming or Cremation

In addition, Washington state requires embalming or refrigeration of human remains within 24 hours of death unless burial takes place immediately after death or cremation occurs within 48 hours.

Burials may take place on private property with permission from local authorities and written consent from all owners on record for the land where the burial will occur.

Funerals held in Washington require a licensed funeral director who has been approved by their respective licensing board to arrange services and handle all aspects related to funerals.

Cremations are also an option in Washington state, however they necessitate certain protocols that must be followed.

This includes obtaining authorization forms signed by next-of-kin if applicable, as well as submitting copies of valid identification cards (driver’s license) and proof of relationship between deceased person and signer.

Crematory operators must provide information about costs associated with cremations which may include specific charges:

Pick up and delivery fees.
Container rental fees (if required).
Additional charges based on weight over 300 pounds.
Storage fees if body is not picked up within 72 hours.

Washington’s burial and funeral laws provide a set of regulations to help ensure the deceased is laid to rest in accordance with their wishes, while also protecting family members from financial hardship.

Now let’s take a look at sample rates for Washington males and females.

Key Takeaway: Washington state requires a death certificate, burial permit and permission from local authorities to arrange funerals. Funeral directors must be licensed and fees may include costs for documents, transportation, caskets and memorialization items.

Sample Rates for Washington Males and Females

When it comes to final expense life insurance policies in Washington, sample rates will vary depending on the age, gender, health, and coverage amount of the insured person.

Age and Gender

Generally speaking, males tend to pay slightly higher premiums than females due to their shorter life expectancy. And, unsurprisingly, as we age, the cost of burial insurance increases.

For example, a healthy 55 year old male with no major health issues can expect to pay around $37 per month for a $10,000 burial policy.

This rate is about 10% higher than what a female of the same age would be charged for the same coverage amount.

As individuals get older, they are likely to see an increase in their premium costs regardless of gender.

For instance, at 65 years old, that same male may be paying closer to $60 per month while his female counterpart could be paying around $44 per month for similar coverage amounts.

As seniors get even older, premiums increase for burial insurance for elderly individuals.

For instance, an 80 year old male might be charged up to $150 per month for the same coverage amount while an 80-year-old female could expect to pay about $125 monthly for similar coverage amounts.

Health Status

In addition to age and gender factors, certain medical conditions may also affect premium costs as well as eligibility requirements when it comes to purchasing final expense life insurance policies in Washington State.

Conditions such as diabetes, heart disease, or a history of cancer, can lead insurers to charge higher premiums or even deny applications altogether if they deem them too risky from an underwriting standpoint.

Note – if you have serious health complications, and traditional final expense coverage is not an option, look to a guaranteed issue life insurance plan.

Coverage Amount

In addition to the age, gender, and health of an applicant, coverage amount is another primary factor that determines the rate of your burial insurance (final expense) policy.

Ideally, you will want to select a face amount that will pay for all of your end-of-life financial needs while also fitting in your budget.

Common final coverage amounts include:

Possible Discounts

Some insurers offer discounts if multiple family members purchase policies from them at once, which could further reduce monthly payments significantly over time.

Other discounts are available, as well. For instance, if you are a military veteran, there may be special pricing options on your burial policy.

Important – Working with experienced agents who specialize in burial insurance for seniors can help ensure that individuals are getting appropriate levels of protection without compromising their budget.

By understanding the sample rates for Washington males and females, you can begin to make an informed decision about which policy best fits your needs. Now let’s explore the steps required to purchase a final expense life insurance policy.

Steps to Buy a Final Expense Life Insurance Policy

Buying a final expense life insurance policy in Washington is relatively straightforward if you know what steps to take.

Before starting, connect with an expert independent agent who specializes in burial insurance products.

1. Choose an insurer

When selecting an insurer, it’s important to compare rates and coverage options from different companies.

You should also consider the company’s financial stability, customer service ratings, and claims process. Be sure to evaluate top-rated final expense companies.

2. Gather necessary documents

Before applying for a policy, make sure you have all of the required documents such as your driver’s license or state ID card, Social Security number, and beneficiary information.

3. Fill out an application

Once you’ve chosen an insurer and gathered all of the necessary documents, fill out the application form with accurate information about yourself and your desired coverage amount, such as a $15,000 burial insurance policy.

Be ready to communicate basic health information, such as any serious medical diagnoses. Remember, you will not need a medical examination.

If you have serious health complications, your agent my refer you to guaranteed issue life insurance options. No health questions are asked, but this form of coverage should not be your first choice.

4. Pay premium

After submitting your completed application along with any supporting documentation requested by the insurer, pay your first premium either online or via check or money order – sent directly to the carrier, according to their instructions.

Your premium payment ensures that your new final expense life insurance policy is in force.

It is essential that premiums are paid on time each month so that coverage remains active without interruption, so it may be helpful to set reminders if needed.

5. Receive policy documents

Upon approval of your application by the insurer, you will receive a copy of all relevant paperwork including details about coverage limits and exclusions as well as contact information for filing claims when needed in future years.

Communicate to your beneficiary where your policy is stored so that there are no delays when it comes time to file a life insurance death claim.

If something happens where benefits become payable under terms outlined within a final expense life insurance policy, then claimants (beneficiaries) must file properly documented claims with the insurers promptly, following the occurrence date.

Policy Review

Policies should also be reviewed annually – especially after major life events like marriage or divorce – so that appropriate adjustments can be made, if necessary, based on changing circumstances over time.

Additionally, beneficiary designations should be reviewed at least once every two years, but more often if there are changes in circumstances such as a birth or death.

Now that you understand the steps to buy a final expense life insurance policy, it’s time to explore which companies offer the best policies for seniors.

Key Takeaway: When purchasing final expense life insurance in Washington, it’s important to compare rates and coverage options from different companies, gather necessary documents, fill out an application form accurately and pay premiums on time.

Best Final Expense Life Insurance Companies

When it comes to finding the best final expense life insurance companies, there are a few things to consider.

First and foremost, you want to make sure that the company is financially sound and has a good reputation for paying out claims.

Be sure to work with an independent agent who specializes in burial insurance for seniors.

You also want to look at their customer service record and how they handle complaints or questions from policyholders. Finally, you should compare rates between different providers in order to get the most value for your money.

SBLI

SBLI is another excellent option for final expense life insurance. Their Living Legacy product provides seniors between the ages of 50 – 85 years old, high-quality final expense coverage. Up to $35,000 in coverage is available.

Their premiums are cost-effective and customers have free access to online tools such as a the LegacyShield rider and free enrollment into the Sequoia Funeral Concierge Plan, a helpful funeral planning service.

American Amicable

One of the top-rated final expense life insurance companies is American Amicable. They offer competitive rates on policies with coverage amounts ranging from $2,500 up to a $50,000 burial policy, depending on age and health status.

The company also offers an accelerated death benefit rider which allows policyholders access some of their death benefit while still alive, if diagnosed with a terminal illness.

Prosperity

Prosperity offers a term burial insurance option for seniors. Up to a $30,000 burial policy is available, depending on age and health.

Applicants must be between 40 – 80 years old. The policy is graded for the first two years. An accelerated death benefit is included at no additional cost.

Corebridge

Another option to consider is the Guaranteed Issue Whole Life policy through Corebridge (AIG), which offers seniors with health complications a guaranteed issue life insurance plan option with no health questions asked.

Corebridge’s GIWL plan offers up to a $25,000 burial policy with an accelerated death benefit rider. Applicants must be at least 50 years old, and must be no older than 80 years old.

Key Takeaway: When looking for the best final expense life insurance companies, it’s important to consider factors such as financial stability, customer service record and competitive rates.

FAQs in Relation to Washington Final Expense Life Insurance

Is final expense life insurance worth it?

Often, final expense or burial insurance is worth it for seniors over the age of 50. It provides peace of mind knowing that in the event of an unexpected death, loved ones will not have to worry about covering funeral expenses and other end-of-life costs.

Additionally, final expense policies are often easier to qualify for than traditional life insurance policies due to their lower face values and simplified underwriting process.

Ultimately, whether or not final expense life insurance is worth it depends on individual circumstances and needs; however, it can provide invaluable financial protection when needed most.

How much does final expense insurance cost per month?

The cost of burial insurance or final expense can vary greatly depending on the type of policy, coverage amount, and other factors.

Generally speaking, premiums for final expense policies are typically lower than those for traditional life insurance due to their smaller death benefit amounts.

Premiums can range from as low as $10 per month up to several hundred dollars per month depending on the specifics of your policy. It is important to compare quotes from multiple providers in order to find the best rate for your needs.

How does final expense life insurance work?

Final expense or burial life insurance is a type of policy designed to cover the costs associated with end-of-life expenses.

It pays out a lump sum benefit upon death, which can be used to pay for funeral and burial costs, medical bills, or other debts that may have been left behind.

The premiums are typically lower than those of traditional life insurance policies because a typical face amount is modest, such as a $10,000 burial policy.

However, this type of policy can still offer peace of mind knowing that your loved ones will not be burdened with financial stress in the event of your passing.

How long does final expense insurance take to pay out?

Final expense insurance is designed to provide financial protection for your loved ones in the event of your death.

Generally, these policies are intended to cover burial and funeral costs, as well as any outstanding debts or medical bills you may have incurred.

Depending on the type of policy and insurer, final expense insurance can pay out quickly upon notification of death—in some cases within 24 hours.

However, it’s important to note that there may be a waiting period after the purchase of your policy – before benefits are paid out.

Known as the contestability period, typically two years needs to pass after your policy’s issuance before the full death benefit is paid out, depending on the provider.

It’s also important to read through all policy documents carefully so you understand exactly when and how much money will be paid out upon your passing.

Conclusion

When it comes to Washington final expense life insurance, the most important thing is to make sure you understand all of your options and find the best policy for your needs.

Researching funeral costs in Washington, burial and funeral laws, sample rates for males and females, as well as steps to buy a final expense life insurance policy can help you make an informed decision.

Lastly, be sure to compare different companies before making a purchase so that you can get the best coverage at the lowest cost.

Seniors, it’s time to take control of your future and protect yourself from the unexpected. iSeniorBenefits offers Washington Final Expense Life Insurance plans tailored specifically for seniors that provide coverage in case of death or illness due to accidents, medical conditions or other unforeseen circumstances.

We also offer Medicare, Health and Cancer Plans so you can rest assured knowing you have the best possible protection available at an affordable rate. Contact us today to learn more about our products and services.