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Final Expense Insurance in Hawaii is a state-regulated insurance program that Hawaii residents can sign up for and pre-qualify without needing to go through the traditional hoops of an insurance product. There is no lengthy application process and best of all, there is no need to schedule an appointment or sit through a physical exam. This is especially helpful for our Kupuna who don't get around as easily as we used to! Final expense insurance is used to cover burial costs and once it's paid to the beneficiary, there are no restrictions as to how the money is used. Coverage for up to $50,000 is also extreamly affordable compared to other investment vehicles. This state-regulated offering is something we are passionate about here at Lean 2 Financial and for a good reason: Not everyone has had the ability to put together a nest egg to leave behind for loved ones. Supporting a family here in the islands is tough business. The cost of living is high and the pay is low. Most of us at one point has worked two or more jobs to be able to provide for our families and that is no easy task. In fact, honor is due to the moms and dads that have done what they had to do to put food on the table. Final expense insurance is for regular folks like us that have done the very same. With this program, the low monthly fee goes towards whatever payout you determine. It's an excellent way for Hawaii's hard-working kupuna to leave a legacy and not bills behind. "Mahalo Lean 2 Financial" I am so glad my mom has her policies in place. We all rest easy knowing things will be taken care of in the end and there will even be a little extra to put towards taking care of OUR kids. Thank you Jason & Michael for all you do! -Chris (Waialua, HI) Lean 2 Financial offers a full menu of programs taylor-made to benefit your Ohana. Please click the button below to see what we can do for you or your loved ones!
Throughout our working years, we focus on making sure that we have enough money built up to sustain us through retirement. We want to be able to enjoy those golden years without worrying that we can't pay our bills. At the same time, we may wish we could leave something behind to help our loved ones. We like the idea of making it possible for them to do or buy something special that will always remind them of us. But when it's this hard to put away enough money for our own needs, how can we ever save up enough money to share with someone else? The hardest part for some families is that by the time they have retired, their debts and expenses are low enough that they might be able to set aside a little to pass along to the family, but there isn't enough time for it to grow into anything large. It may not even be enough to cover final expenses like funeral costs and any last debts. If you want some good news, here it is: It's not too late to leave a legacy for your loved ones. You can get an affordable policy that will provide $50,000 to your family upon your death. That's enough to take care of your funeral costs and to pay off those last few debts that your family will need to take care of. The rest is for them to enjoy as your financial legacy to them. Funeral costs are getting higher all the time, and they are higher in Hawaii than on the mainland. As we get older, we sometimes worry about whether there will be money available to give us the final celebration of life that we really want, and that our families want for us. Our life insurance policy can give you the peace of mind that comes from knowing nobody will have to worry about how to pay for your funeral. It may sound too good to be true. Could it really be that simple to get that much money for your final expenses? The answer is yes! Contact us today to learn more about how you can enroll in a life insurance plan that will provide a benefit of $50,000 to your loved ones upon your death. The next question you have is probably whether you can afford the premiums. After all, if you pay enough in premiums, a policy can provide as much benefit as you are willing to pay for. Does this coverage really carry premiums that you can afford? Once again, the answer is yes! Our low monthly premiums can fit anyone's budget, making it possible to provide for those final expenses without putting a burden on your paycheck or pension income. We all work hard to provide for ourselves and our families. We get a lot of satisfaction from knowing that we've paid for a home, educated our kids, and left the workforce with enough money to live comfortably. However, the money it takes for final expenses is often left out of the equation because it seems impossible to squeeze the checkbook any harder. It doesn't have to be that way. Our life insurance plan can provide $50,000 for your loved ones to cover your final expenses, all with a low monthly premium. If you or a loved one needs peace of mind when it comes to their final expenses, we can help. Jump to top
The time will come when you need to start thinking about the end. We all will reach that day. What is important is that we are prepared to have our bills paid as well as our funeral expenses. Some of our family members do not have hundreds of dollars to pay our final medical bills, let alone thousands of dollars for our funeral. There are different types of insurances to cover these expenses. Even the names of the insurances have different names. More importantly, many of them include different coverage. This is why it is so essential to understand your insurance policy before you begin paying premiums. Funeral insurance generally allows for the value of your policy to be proportionate to the expense of your desired funeral. Usually, these final expense insurances range around $20,000. The final expense life insurance is different than insuring your life insurance. The latter concerns that you are leaving your family sufficient funds after you pass away. You may have term insurance or whole life insurance you pay for at present. If you have the latter, that will help your loved ones to pay your final expenses. If you have term life insurance, you may outlive the policy term. If you are fortunate enough to have a more significant amount of money in your savings account, then this will assist your loved ones when you pass away. In this case, you might choose "self-insurance." This means you use your own money to pay expenses after you die as opposed to using life insurance. If you plan to self-insure, you should plan for approximately $10,000 for funeral and burial expenses. However, this might not include any extras such as having a catered party or planning a major trip for the family to scatter your ashes. If you need final expense insurance depends on each individual. You will want to know the cost. This depends on your age. The older you are, the more it will cost. This is because older people cause insurance companies more risk. That's because they are statistically nearer to death. So, if you are 50 years old, you will pay considerably less than a person who is 75. You also have the option of pre-paying for your funeral expenses. If you choose this method, you also get to personalize your final event. It is important to visit different funeral homes and speak with different funeral directors until you meet the person and place where you feel most comfortable. You will be able to select the casket you like the most. You will get to choose the songs you want to be sung at your funeral. You can add anything else you wish to make your funeral exactly as you want it. Then you will have the opportunity to select the plot where you want to be buried in the cemetery of your choice. Another positive feature about pre-arranging your funeral is that you can then discuss it with your loved ones, and this will most likely give everyone peace of mind. If you choose to pre-pay for your funeral, you should know that states have different guidelines for this service. These guidelines are to keep you safe from unscrupulous people who want to take advantage of you. Before you make a pre-payment, you need to check your state guidelines to learn how and where the money will be kept until you die. Also, make sure you know precisely what you are paying for. Make sure you can lock in the rate so that your family won't face any additional charges. Keep all of your documentation and inform your loved ones where it is kept, so they will easily be able to find it when the time comes. Hopefully, you still have a long, full life to live. Even so, it is important to know and understand your options when it comes to insurance and funeral planning.
Living in Hawaii may seem like a carefree life, but, even in paradise, people need to plan for the inevitable. As they say, nothing is guaranteed except death and taxes. They should also include the cost that comes with death. While it's not always the most pleasant topic, handling these things now can help your family. If you don't take care of it, your loved ones will need to handle it. No one wants to be a burden. Here are some tips for handling your end of life finances. 1. Finalize your will Many people put off writing their will. They don't want to think about their death. However, without a will, your assets may not get divided as you want them to be. Get a will in place, despite your age, just in case. Clarify exactly what you want to go to who. You can easily amend it if you change you mind about anything. 2. Make your final wishes clear There are a lot of options for what to do with your remains after you die. You may decide to get buried, cremated, or have your body donated to science. Some people even choose to be turned into a diamond. Whatever you choose, you need to let the people around you know. While you may not care what happens to your body after you die, you probably have some feelings about it while you're here on Earth. Get your wishes in writing to make it clear to absolutely everything. 3. Set money aside for your celebration of life Your friends and family are going to want to celebrate your life when it comes that time. You should set aside money so that they don't get stuck with the bill. Many insurance companies offer plans to cover these costs for you. Make sure you family knows exactly what and what isn't covered. They should also know who to talk to about the day when it comes. 4. Handle your debt Most people have debt, even later in life. This may be your mortgage, credit card bills, a car payment, or student loans. Whatever debt you have, it will need to be paid when you die. Go over all of your debt so you can put a plan in place. If you can, just pay off the debt as soon as possible to make things as easy as possible for the people in your life. 5. Downsize and save You will need money for the end of your life. You will need money to support yourself, pay for medical costs not covered by insurance, and to help the people you love in life. It's a good idea to cut costs now. Move to a smaller home if that's more practical and reduce expenses where you can. Planning your final finances doesn't have to be a negative thing. It should give you a sense of relief and confidence. When your finances are in place, you can spend the rest of your life focusing on the things that truly matter.
Funeral Costs in Hawaii Continue to Increase Most funerals follow a similar pattern, the person dies, and the mortuary meets their requirements, which includes preparing the body. Next, visitation is held at the mortuary. The funeral follows this. The ending sees the casket taken to the cemetery where it is lowered into the ground. However, as time passes, the service for a funeral is becoming more and more costly. Average Cost Of A Funeral In Hawaii Today the average cost of a funeral in Hawaii is more than $7,000. This cost does not include a cemetery plot. Once you add the plot to the cost of the funeral, the average price for a funeral in the Aloha state exceeds $10,000. There are more affordable options to say goodbye to the loved one. One of these is a cremation, which is becoming more popular. The Cost Of A Cremation Today Hawaiians are choosing cremation eight in 10 times. However, just like a funeral, the costs vary depending on the selected provider. The service differs from no service, and the ashes are given to the family. If they choose, they can have their service, keep the ashes, or dispose of them when and where they want. The family can also have a full funeral service, and the only difference is the deceased is cremated. The cost of this service ranges from $2,500 to $4,000. A cremation without a service ranges from $1,000 to $1,500. Suggestions for Choosing A Provider Since a funeral at one provider's funeral home can cost $1,000s of dollars more than a neighboring provider, for the same service, it is essential to compare prices from one to the other. This should take place before a person passes because it is much more challenging to compare prices when dealing with a death. However, people should know that the same service will vary from one funeral home to another. Low-Cost Providers In Hawaii When we understand that 76 percent of Americans live from one paycheck to the next while 35 percent are in debt recovery, it is easier to understand how the sudden expense of a funeral can cause financial difficulties for families. This is why more families in Hawaii are seeking lower-cost funeral costs. As previously mentioned, a simple cremation with no viewing or services is the cheapest. When cremation is chosen, it can assure the cremation is immediate, and the disposition is completed in a timely and cost-saving manner. Following the cremation, the family can determine if they want a service or not. Conducting A Funeral At Home You are entitled to prepare the body and make the required arrangements for a deceased person in your home in Hawaii. You would be required to file a death certificate as well as a burial or cremation permit. Everyone should be aware that Hawaii does not require you to employ the services of a funeral home or a funeral director. Funeral Laws In Hawaii You Should Know Every funeral home located in Hawaii is required, by law, to give you a General Price List. The list must specify the price for the service. The list needs to include information regarding all of the services available for a funeral. The funeral home, by law, is not allowed to pressure you into any type of sale. If you believe a funeral home has not appropriately treated you, you should contact the Federal Trade Commission's (FTC) "Funeral Rule." This is intended to protect you and your rights as a funeral consumer. You need to equip yourself with understanding your rights.
Death and taxes are inevitable; however, very few people like to think about either until they are confronted with them. Hawaii tends to be more expensive than the continental United States, and death is no exception. The average cost of a funeral including burial is $10,000. You may think that is for a deluxe service, but it really is not. While there are cheaper alternatives such as casket rental and cremation, you are still looking at a four figure expense to process your remains. If no prior planning is done, distraught family members are confronted with decisions that can have tremendous financial implications. For this reason, there are a couple of things you can do to ease the burden on your family members who, upon your death, will be trying to balance your final wishes with financial considerations. (1) Plan your funeral while you are healthy and of a sound mind. Many funeral homes offer this service; prepayment and financing options tend to vary so it depends on the funeral home. If you are uncomfortable with this level of formalized planning, you should at least document your wishes (handwritten or typed) and either share them with family members or let them know where this document is located (in desk files, safety deposit box, etc.) if /when they need to access it. (2) Purchase Hawaii funeral insurance. Many do not budget for death, but Hawaii funeral insurance is an affordable and easy way to do so. It allows loved ones to have a set amount of money for your funeral, and the money is available upon your death. The alternative is your family will be faced with upfront costs and bills before your will is read or your life insurance policies are processed. It allows life insurance to be allocated to your living expenses including mortgage, health care, and other outstanding debts. It prevents family members from using their savings or going into debt to plan your funeral. If you are interested in purchasing Hawaii funeral insurance but unsure how to do so, the first step is to meet with a member of our local team. We have helped Hawaiian families plan their futures and preserve their legacies across all the islands. Our experienced team can answer any question and relieve any concern you may have on this sensitive subject. We assure you that working with us will provide both you and your family with peace-of-mind knowing that this often taboo subject has been dealt with and handled in the best way possible to meet everyone's needs. There are multiple policies and plans to accommodate any budget, and people of all ages are encouraged to consider this investment. It is not an option exclusive to senior citizens. Contact us so we can help you with your final expenses.
Hawaii is known for its tropical climate and care-free attitude. Living there, you may have even picked up that care free attitude yourself. However, you have to plan for good financial health properly, even in paradise. Here are 3 things every Hawaii resident needs to plan for.
What to Do If You Can't Afford Your Parents' Funeral Expenses No one likes to talk and plan about their death. That’s just one of the facts of life because this is not a fun topic at all. Unfortunately, it is something that people have to discuss because estate planning and planning for funeral expenses are critical factors that must be addressed no matter how unpalatable they both are. Cremation costs and burial expenses are not cheap. There is the coffin to consider, embalming fees, burial plots, services for the wake, and more. Just because it is not discussed doesn't mean it won't happen. The Problem with Handling an Estate Typically, the funeral costs will be shouldered by the estate of the deceased party. However, setting aside money in your will may not be the smartest way to get things done because it will take time for your heirs to get their hands on the money, especially if it makes its way through probate court. Since most funeral homes want their payment up front, there just has to be a better way to cover that final bill. Peace of Mind with a Final Expense Insurance If your parents are not prepared at all, you can help them by purchasing life insurance to cover the final expenses when they leave you behind. Doing this in advance will give your family peace of mind, especially during a very trying time. The last thing you should be thinking about during that fateful period is where to get the money. The focus should be on saying goodbye to your dear loved ones as they make their way to their final resting place. This kind of policy is called a final expense insurance. This policy is designed to cover unpaid medical bills, funeral arrangements, and other end-of-life specifications that they requested. For you to be able to purchase a policy for your parents, you will have to ensure first that you have their consent. You will also have to provide a proof of insurable interest. This means that you have to to prove your relationship with your parents by submitting all the pertinent documents. Different Factors Affecting the Policy There are many different kinds of final expense insurance policies. This would be dependent on their age, their financial status, and their overall health condition. You must find out how much coverage they need when you make your decision about the policy coverage. Ask them what type of service they want because cremation and burial in a plot have different costs. Getting estimates from local funeral parlors may help you figure out the details. You also have to include any debt or final expenses they may leave behind like hospice care or medical bills. Knowing all these will give you an idea regarding the coverage you need to buy. You must also remember to read the fine print of the policy you are considering. Just because the monthly payment plan is cheaper, it doesn’t mean that is is automatically the best coverage for them. Since your parents have not prepared for this, you will most likely own and pay for the policy's annual premiums on their behalf. They will need to show consent by signing the insurance application and probably undergoing a medical exam. The latter is dependent on the insurance company, so do talk to your trusted agent. As family members, your parents have automatic insurable interest because you will be financially impacted upon their demise. Bottom Line Having these specific end-stage plans drawn out is the best way to show your love and concern for each other. This way, your parents can depart this earth without a heavy heart knowing they are not being a huge burden to you. In the same token, having this policy in place will give you the support you need during what could be one of the worst days of your life. It is critical to think about these issues while there is still time. Don’t wait before it is too late, so you can buy yourself the peace of mind when the time has come to say goodbye.
