Buying a policy on your mom or dad
Often a son or daughter starts the search for a parent. You can do a lot of the legwork, but your parent has to be part of it. The person being insured must agree to the policy and usually takes part in the application, which means signing it and answering the health questions in their own words.
The buyer also needs an insurable interest, meaning a real financial or family stake in the insured person's life. The agent can explain how the insurers you are comparing look at this. It helps to have your parent on the call or close by, so the application can be finished in one sitting.
Questions to settle as a family first
Before you call, talk through a few practical points with your parent. These choices shape the quote and make the application go faster.
- Who will own the policy and pay the premiums.
- Who will be the beneficiary and receive the money.
- Whether your parent prefers burial or cremation.
- How much the family would like to leave for the funeral and final bills.
- A list of your parent's medications and any recent hospital stays.
Talk to a licensed agent: (949) 807-3995
How your parent's health shapes the plan
Final expense insurance is a smaller whole life policy meant for funeral costs and final bills. Premiums are usually level and the coverage doesn't expire while premiums are paid. Which version your parent can get depends on the health answers.
With a simplified issue or level benefit plan, there is no medical exam, only a short list of health questions plus a prescription and records check. If your parent qualifies, the full benefit is usually paid from the first day. A graded or modified plan, used for some health histories, pays a reduced benefit if death from natural causes happens in the first two or three years.
Guaranteed issue plans ask no health questions, and acceptance is guaranteed within the plan's eligible ages. The trade-off is a limited benefit, often the premiums paid plus interest, if death from natural causes happens in the first two years. Face amounts are usually smaller and premiums higher.
Costs, quotes and calling hours in Arizona
According to the National Funeral Directors Association's 2023 General Price List Study, the national median cost of a funeral with viewing and burial was $8,300, and with viewing and cremation it was $6,280. Those medians don't include cemetery, plot, monument or marker costs, and they are not Arizona figures. Some families use them as a guide when picking a face amount, which often ranges from a few thousand dollars up to about $50,000.
Eterna is an independent agency whose licensed agents help Arizona residents compare plans from several insurers. On the call, the agent asks your parent's age, the amount you have in mind and the health questions, then lays out quotes from several insurers side by side. Your parent can apply by phone with you there. The quote is free and there's no obligation. Plans, prices and availability vary by state, insurer, age and health.
Agents take calls Monday to Friday. Arizona doesn't use daylight saving time, so the hours are 7am to 7pm from November to early March and 6am to 6pm the rest of the year. On the Navajo Nation, which does change its clocks, the hours are 7am to 7pm all year.
You can look up an agent's license, or ask a general question about insurance, with the Arizona Department of Insurance and Financial Institutions at https://difi.az.gov/. It is the state office that licenses agents and regulates insurers, and it takes consumer questions and complaints.
