Finding The Best $10000 Whole Life Insurance Policy: An Insider’s Guide

Written by Choice Mutual | Last updated: September 14, 2018

10000 whole life insurance

Feel free to use the quote tool on this page to see instant quotes for $10000 in whole life insurance from multiple life insurance companies in your state.


Are looking for a $10000 life insurance policy?

If so, look no further.

In this article, you’ll see real $10,000 whole life insurance quotes from multiple companies, learn how to apply, and get tips to help you find the best rate.

Either read on or click on one of the links below to jump to a specific section.

Article Quick Guide

  1. $10,000 Whole Life Final Expense Insurance Quotes [See Actual Prices]
  2. Understanding How Whole Life Insurance Works
  3. How Your Health Comes Into Play
  4. Tips To Help You Find The Best & Cheapest $10K Policy
  5. 3 Well Known & Expensive Companies To Avoid

 

Actual $10000 Whole Life Insurance Quotes

Below you will find real final expense prices from ten different burial insurance companies. Make no mistake, these are real prices. However, there are a few things you need to be understand as you view these rates.

  • All prices are for non smokers. If you smoke cigarettes, you will pay more.
  • Your final price will be a function of your exact age.
  • Females who live in Montana will pay whatever rate a male pays (due to a state law that mandates all genders pay the same rate).
  • Health is a major factor that determines your eligibility and rate.
  • We have many more companies other than these listed.
  • You can purchase any amount of coverage you’d like. You’re not limited to just $10k coverage.
  • Not all companies are available in all states.

 

10000 whole life insurance
AgeFemale Non TobaccoMale Non Tobacco
50$24.67$29.16
55$28.40$35.09
60$32.87$42.76
65$41.01$55.76
70$53.24$73.70
75$72.41$99.53
80$98.43$132.65
85$135.90$183.15
10000 whole life insurance
AgeFemale Non TobaccoMale Non Tobacco
50$26.05$32.00
55$31.16$36.86
60$35.41$45.19
65$42.80$55.75
70$53.42$72.91
75$75.08$102.69
80$111.08$146.74
85$165.92$200.75
10000 whole life insurance
AgeFemale Non TobaccoMale Non Tobacco
50$23.06$27.73
55$26.94$34.43
60$33.79$42.42
65$42.42$53.82
70$53.12$69.93
75$76.34$97.43
80$108.30$147.07
85$160.85$202.75

10000 whole life insurance

AgeFemale Non TobaccoMale Non Tobacco
50$25.30$30.70
55$29.10$35.90
60$33.60$43.70
65$41.60$56.50
70$53.90$74.60
75$72.80$100.00
80$104.00$140.20
85$148.60$200.40
10000 whole life insurance
AgeFemale Non TobaccoMale Non Tobacco
50$33.71$39.61
55$37.51$46.31
60$38.21$50.11
65$44.61$58.81
70$55.61$74.81
75$79.81$110.41
80$110.41$153.81
85$148.81$212.71

10000 whole life insurance

AgeFemale Non TobaccoMale Non Tobacco
50$25.48$28.82
55$29.37$34.28
60$34.74$41.65
65$44.03$53.87
70$56.41$73.05
75$76.89$100.55
80$113.89$155.57

10000 whole life insurance

AgeFemale Non TobaccoMale Non Tobacco
50$26.67$31.65
55$33.69$40.04
60$38.27$47.06
65$47.06$59.75
70$60.38$78.79
75$81.73$108.02
80$113.68$155.83
85$166.03$221.32

10000 whole life insurance

AgeFemale Non TobaccoMale Non Tobacco
50$26.01$34.97
55$30.80$46.93
60$36.87$52.40
65$45.33$57.49
70$57.45$75.69
75$77.82$103.28
80$104.31$140.74
85$136.55$188.78

10000 whole life insurance

AgeFemale Non TobaccoMale Non Tobacco
50$35.83$51.92
55$39.86$56.50
60$45.14$63.17
65$54.51$73.09
70$70.41$93.14
75$95.82$124.49
80$135.12$175.15
85$204.20$298.86

 

How Does Whole Life Insurance Work?

Life insurance is a VERY broad term. There are many different kinds; whole life insurance is just one specific kind of life insurance.

Here’s the good news

Whole life insurance is incredibly simple. The way these plans work is very straightforward. There is no small print that you need to be worried about.

If you buy a whole life plan, here’s how it will work:

  • Premiums won’t increase
  • Benefits won’t decrease
  • Policy won’t expire at any age
  • Builds cash value that you can borrow from

That’s all there is to it to in regards to how the policy works. In a nutshell, a whole life policy will be with you forever and will never change in any way.

Ultimately, your plan will pay out a tax-free cash benefit to your beneficiary(s).

There are no restrictions on how the money is used. The policy will merely pay out cash. If there’s money left over, that money will simply stay with your family.

 

How Your Health Impacts The Cost Of Your 10000 Life Insurance Policy

It probably comes as no surprise that your health will play a big role in the qualification process.

Every burial insurance company (other than guaranteed issue plans) will ask you a series of health questions. In addition, they will analyze your prescription history.

This will give them all the information they need to determine if you are approved.10000 Whole Life Insurance

Here’s the truth about health questions.

If you say yes to ANY health question on any application, it will unequivocally mean you will pay a higher monthly premium. Additionally, it may also mean you have to endure a graded payout of your death benefit, or have to wait two full years.

Here’s the bottom line

To get the best plan where it covers you immediately and costs the least, you want to look for a plans where you can say no to all their health questions.

Here’s the rule of thumb to remember.

If any life insurance company does not ask about something, it means they are okay with it!

 

Underwriting diversity means you win

There are dozens of funeral insurance companies on the market today with their own unique underwriting, and they are competing for YOUR business. This has resulted in great underwriting diversity.

For example, some companies ask if you have Parkinson’s Disease, and some don’t. If you have Parkinson’s disease, it would behoove you to apply with one of the companies that does not ask about Parkinson’s. Doing so would mean you pay much less and your coverage would start immediately.

A no brainer right?

That scenario with Parkinson’s Disease plays out regularly for all sorts of health conditions.

10000 Whole Life Insurance

Here’s the bottom line

At Choice Mutual, we have about a 90% success rate where someone can secure a plan that covers them in full immediately!

That is only possible because we work with so many burial life insurance companies that have different underwriting.

So while your health plays a big role in the process, in most cases it won’t matter. That’s because we can likely find a company that accepts all the conditions you deal with.

It’s awesome being independent 😎, and that’s VERY good for you.

If you are looking for a 10 000 life insurance policy, call us at 1-800-644-2926. We will shop and compare prices from over 20 companies to ensure you the best deal on your policy.

 

How Choice Mutual Can Help You Find The Best & Cheapest $10K Policy

Here’s the deal

You’re obviously contemplating buying $10,000 whole life policy or you wouldn’t be here. Now you just need to consult with a company that can help you get it done.10000 Whole Life Insurance

You need to work with an agency that has the experience and the tools to ensure you find the best deal.

That’s where we come in.

Here’s the three main reasons why we are best equipped to help you find the best $10K whole life policy for you.

  1. We represent over 20 companies. This means we can shop around for you to ensure you are getting the best rate.
  2. Our allegiance is to YOU! We will impartially shop around, and recommend whichever life insurance company is best for you.
  3. This kind of insurance is all we do, and we’re masters at it. As mentioned earlier, your health is a major factor in this process. In less than 60 seconds, we will evaluate your health and determine which companies are most suitable for you given your health. Due to our vast experience, we have a masterful knowledge of how each final expense company underwrites.

 

Super Expensive Companies To Avoid

In every industry there are always some companies that operate outside the competitive boundaries, and offer consumers their product or service at a much higher price point.

Usually, the companies that do this will try hard to justify their higher rates.

The truth is, it’s all smoke and mirrors. The companies listed below are all guilty of this. They offer final expense life insurance at rates much higher than other competitive companies.

10000 Whole Life Insurance

1) Lincoln Heritage

Lincoln Heritage is actually the largest provider of final expense life insurance in the nation. They sell more of it than any other insurance company. While this sounds impressive (indeed it is), this feat wasn’t achieved because they offer the best funeral insurance policy.

The truth is, they are very expensive even for healthy clients.

Basically, they have setup their underwriting, the application process, and an agent recruiting system set up to benefit the agents and the company. They are not interested in serving the client the best value possible.

It’s very important to note that Lincoln Heritage is almost entirely a captive insurance company. Being captive means one of their agents cannot represent any other insurer other than Lincoln Heritage.

This is devastating to clients who have health issues that Lincoln Heritage does not view favorably.

There’s a giant list of health issues whereby Lincoln Heritage will charge their applicants 200-300% more and give them a two year waiting period.

At the same time, other carriers would give these same clients a significantly lower price and coverage that has no waiting period.

Take a look below are how their rates compare to two other companies that offer the exact same thing.

Now they will claim the difference in price is because they offer all sorts of other benefits.

Don’t believe it!

All the “benefits” they offer are easily achievable on your own for free. Ultimately, they charge these higher prices for entirely self serving reasons.

You can read our entire Lincoln Heritage Funeral Advantage here if you want to learn all the details about this company.

 

2) Colonial Penn

Everyone knows them by their commercials with Alex Trebek. They have been in business many years, and they too sell a lot of final expense life insurance.

Here’s the deal

They charge super high prices for two main reasons. One is to pay for Alex Trebek. The other reason is because their business model revolves around making it incredibly simple for their agents.

Think of it this way. Which do you think takes more work. Training insurance agents to learn 15 different burial insurance companies, or learn just one?

A company like us works with a ton of different insurance companies, so we can always find you which company offers you the best deal. It definitely takes MUCH more time and effort to train each agent to become masters of each insurance company.

You don’t get that with Colonial Penn because all they can offer you is their insurance. Their agents only need to learn one company, and that’s a lot easier for Colonial Penn.

Bottom line?

Buying a 10000 life insurance policy from Colonial Penn means you will greatly over pay for what you could be getting elsewhere for much less.

 

3) Senior Life

Honestly, this company is almost identical to Lincoln Heritage. They are a captive company, so a Senior Life agent can only offer you their insurance and no other. That’s wildly problematic itself, but it’s actually rather minor compared to the problem of their high prices.

Similar to Lincoln Heritage, they will attempt to justify why their prices are worth it. It’s just smoke and mirrors. Nothing they offer justifies their high prices.

About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual is an independent agency licensed in all 50 states including DC. We work with over 20 highly rated final expense life insurance companies, so that we can compare offers from all of them to find you the best deal.

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4 Comments

Mystell Dawn Robbins

My father passed away on of 6th January and I am trying to figure out which life insurance policy he has.

February 23, 2018 at 9:56 am
    Choice Mutual

    Hi Mrs. Robbins,

    First of all, we’re sorry to hear about the loss of your dad.

    If you don’t have his policy, there’s a couple of things you can do to try to locate which insurance company provided his coverage.

    1) Check his bank statements. If he had coverage, he was likely paying for it monthly via a bank draft. His bank statement would show the name of the insurance company that was withdrawing funds.

    2) Order a copy of his MIB file. MIB stands for Medical Information Bureau. Most life insurance companies will report data to the MIB. If your dad bought a policy from a life insurance company that reports to MIB, his MIB file would indicate the name of the insurance company he applied with.

    3) Check your state department of insurance website. Some DOI’s have a “life insurance locator” service. Not every state has a service like this, and those that do are not full proof. It’s definitely worth a shot though.

    Outside of these three things, we aren’t aware of any other way to identify a life insurance policy on someone when you don’t know the name of the insurance company.

    Best of luck to you, and again sorry for your loss.

    February 23, 2018 at 7:11 pm
Dom m

Are these quotes annual or monthly?

September 29, 2018 at 2:23 pm
    Choice Mutual

    Hi Dom,

    All quotes you see on our website are monthly.

    September 30, 2018 at 11:28 am
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