You may not have even considered including burial insurance in your future plans, so Arif Halaby, a Certified Estate Planner and president/CEO of Total Financial Solutions, wants the Santa Clarita community to know that burial insurance is a form of life insurance.

The best time for acquiring life insurance, according to this retirement professional, is when you’re young.

“Burial insurance can be accomplished for much less money if you’re healthy, especially in a much larger insurance plan that covers a variety of things,” said Halaby, who hosts  “Total Financial Solutions Safer Money Hour” on KHTS AM-1220 every week to discuss planning for retirement.

Related: Total Financial Solutions: Financial Literacy And Young People

Another benefit of securing life insurance, other than for less money, is that individuals are making their own death wishes and their family doesn’t have to worry about making decisions during that time.

An irrevocable beneficiary can help people make sure the money is allotted to certain things. The policyholder can structure who gets the payouts and no one can change that, said Halaby.

Payouts can be given to beneficiaries or trustees with a segment set aside for burial expenses, hospital fees, family and charity.

Those who have existing health issues are not necessarily excluded from securing life insurance, Halaby noted.

Many life insurance providers have a limited range of products and companies that they can work with, but there are other choices to explore, said Jeff Girard, Halaby’s co-host on “Total Financial Solutions Safer Money Hour.”

Companies that offer guaranteed issue policies cover most health problems and once you’re approved, they can’t turn you down.

“As long as you make the payments, it doesn’t matter how old you are or what ailments you get between now and then. Your family is taken care of,” said Halaby.

Halaby and Girard emphasize the importance of financial planning ahead of time to avoid stress or tension between family members.

“If you have anyone that’s counting on your life, more importantly they’re counting on your income, they’re not going to eat dinner or have an electric bill paid,” said Halaby. “Keep in mind that your idea of doing a pre-need really blesses the people that you leave behind.”

Total Financial Solutions offers assistance with preparing for retirement in Santa Clarita and the surrounding valleys. Santa Clarita financial professional Arif Halaby, a Certified Estate Planner, and Total Financial Solutions staff work with people of all ages, helping them protect, grow and preserve their assets through an individualized approach. As a well-known financial professional, Arif Halaby is also the host of “Total Financial Solutions Safer Money Hour” on KHTS AM-1220. Launched in 2004, the show offers listeners retirement planning tips and guidance for dealing with today’s ever-changing financial needs.  

Total Financial Solutions, Inc.

24322 Main Street

Newhall, CA 91321

661-753-9683

800-990-7344

Total Financial Solutions – Newhall

https://www.youtube.com/watch?v=HIDPWqBddg8

Arif Halaby, Total Financial Solutions, Financial Planning, Planning for Retirement, Retirement Planning