Understanding Life Insurance

Concerned about burdening your family with the cost of final expenses? You’re not alone. A funeral just may be the third largest expense you make in your lifetime, often totaling $10,000 or more with added fees for ceremonies, transportation and other incidentals.

Over the past decade, the median cost of an adult funeral in the United States has increased 28.6 percent. The national median cost of a funeral for calendar year 2014 was $7,181 and was $6,078 for cremation, but that’s not all. The cost does not include cemetery, monument, vault or marker fees, or miscellaneous cash-advance charges, such as for flowers or an obituary.

Looking to received help from Social Security or military benefits? A surviving spouse or child may only receive a special lump-sum death payment of $255 if they meet certain requirements. Furthermore, the burial allowance for a non-service-connected death is limited to $300, and $2,000 for a death connected to military service.

Sources: National Funeral Directors Association’s 2015 Member General Price List Survey,; Social Security Administration,; U.S. Department of Veterans Affairs,


Planning for Final Expenses

You can spare your loved ones the emotional drain and financial stress that comes with paying for funeral and related expenses with Aetna Final Expense Whole Life Insurance.

Final expense whole life insurance can help give you and your family peace of mind and security knowing that your loved ones will be better prepared when the time comes. The plan requires no medical exams. The issuance of the policy and plan type will depend upon your answers to the health questions in the application.


Benefits of final expense coverage:

  • Find out today if you are pre-approved
  • Issue ages 45-89, age last birthday
  • Protection up to $35,000*, minimum benefit amount $3,000
  • Renewable for life regardless of changes in health
  • Premium rates that never increase
  • Coverage and benefits that never decrease**
  • Guaranteed non-cancelable – as long as the premiums are paid on time
  • 30-day free look period with a right to cancel and 100 percent refund

* Maximum benefit amount varies according to the age of the applicant at the time the policy is issued.

** Benefit may be reduced by any loan balance on the policy at the time of death.


Cash Value Flexibility

  • Non forfeiture options are available; options decrease the risk of your policy lapsing by mistake, leaving you without any protection at all
  • Reduced paid-up insurance: This option is available if you want to provide a reduced death benefit amount that is paid up.
  • Extended term insurance: This option is available if you want level term insurance for the full death benefit amount, but for a shorter period of time.
  • Automatic premium loan: This option may help pay future premiums. If there is insufficient cash value to advance the premium as a policy loan, no automatic premium loan will be paid.
  • Build cash value automatically. Over time you can build up a sum of money that may be available to you if you need it. You can borrow your cash value with policy loans for any reason. Annual interest rate and fees apply.

* In the early years of your policy, you may have insufficient cash value for reduced paid-up insurance, extended term insurance or automatic premium loan.

For more details, contact our office.

Call Mike for a free quote!

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