How To Get The Cheapest $5000 Life Insurance Policy For Final Expenses

Written on February 28, 2017 by Choice Mutual

5000 life insurance policy

You can see actual $5,000 life insurance prices by using our easy quote tool that’s on this page. You can also scroll down because we have a bunch of quotes shown in this article.

Are you shopping for a $5000 life insurance policy to help cover funeral or burial expenses?

Maybe you just want $5K because you want to be cremated, or maybe it’s because you have some coverage now and you just need to add a little more.

Whatever you reasons are for wanting $5,000 in final expense life insurance coverage, you will find real quotes in this article. We will also show you why working with us for your burial insurance needs will save you $$$.

Article Quick Guide

  1. What Is Burial Insurance?
  2. Quotes For A $5000 Life Insurance Policy
  3. How Choice Mutual Can Get You The Best Rate Guaranteed

 

What Is Burial Life Insurance?

One of the most common questions we get is what is burial insurance? The internet is riddled with misinformation on this topic, so let’s set the record straight.

First and foremost, burial insurance is life insurance.

Truthfully, burial insurance is actually just a marketing term. In fact, you will often hear the terms “final expense” or “funeral insurance” used in interchangeably along with the term “burial insurance”. In the end, they all refer to the same thing.

5000 life insurance policy

They are always a whole life insurance policy. They are never term life insurance policies (term life plans are temporary life insurance policies that expire after a certain number of years).

Basically, burial life insurance policies were designed to provide funds for end of life expenses. They way they function is very unique. Since these policies are whole life, they are incredibly easy to understand. There’s three things you need to know about them. There is no fine print that you need to be leery of.

  • They never expire at any age
  • The monthly price cannot increase
  • The death benefit cannot decrease

Once you have your policy in place, you are protected immediately if you qualified for immediate coverage (which most people do). Whenever you pass away, your policy will provide cold hard cash to your family, so they can pay for your final expenses.

If there is any money left over, it will stay with your family. It will not go to the funeral home (unless you were to name them as the beneficiary).

 

How They Are Unique

Not all life insurance is the same. Final expenses insurance is a prime example of this. The insurance companies created these policies understanding who would buy them.

The most striking element of final expense life insurance is their incredibly relaxed underwriting.

The insurance companies fully understand that it’s only natural to develop health issues as you age. It’s for this reason that they designed these plans to accept many major medical issues. It cannot be over emphasized how relaxed the underwriting is.

Another very unique feature to burial policies is the very low face amount options. You can literally buy as little as $1,000 in coverage. If you go to buy a traditional life policy, you will typically see face amount minimums of $50,000.

You can buy as much as you like, but the very low minimums allow you to buy only as much as you need. This is particularly helpful for folks who are on a fixed income. Not to mention, if you desire to be cremated, you really don’t need much coverage, so burial insurance perfectly accommodates that need.

 

Real Quotes For A $5000 Life Insurance Policy

Below you will find some sample rates from multiple insurance companies. If you want to see exactly what you would pay at your age today, use the quote tool on this page.

Please remember, that we have many more final expense life insurance companies other than these. It may turn out that your best plan might be with one of these companies. Then again, it might not. In the end, we will assess your health and let you know which companies are best for you.

These prices are all non tobacco. If you have smoked cigarettes within the last 12 months, you will pay anywhere from 20-50% more.

All of these rates are fixed and cannot increase. Furthermore, these policies won’t expire, and the coverage will never decrease.

5000 life insurance policy

AgeFemale Non TobaccoMale Non Tobacco
50$13.94$16.18
55$15.80$19.15
60$18.04$22.98
65$22.11$29.48
70$28.22$38.45
75$37.81$51.37
80$50.82$67.93
85$69.55$93.18

5000 life insurance policy

AgeFemale Non TobaccoMale Non Tobacco
50 $14.60$17.57
55$17.15$20.01
60$19.28$24.17
65$22.97 $29.45
70$28.28$38.03
75$39.11 $52.92
80$57.12$74.94
85$84.53$101.95
5000 life insurance policy
AgeFemale Non TobaccoMale Non Tobacco
50$17.41$20.26
55$19.26$23.41
60$19.56$25.21
65$22.61$29.36
70$27.86$36.96
75$39.36$53.96
80$53.96$74.61
85$72.21$102.66
5000 life insurance policy
AgeFemale Non TobaccoMale Non Tobacco
50$15.10 $17.57
55$17.51$20.71
60$19.65 $25.21
65$23.72 $30.28
70$29.71$38.97
75$40.41$52.39
80$56.89 $75.71

5000 life insurance policyGerber life only sells a no health question guaranteed issue policy. Everyone is accepted, but the policy will not pay out a death benefit during the first two years. This kind of policy is not the best option for most people. There are very few scenarios where someone should take out a guaranteed issue policy. Do not worry because your Choice Mutual agent will properly advise you about this matter.

AgeFemale Male
50$14.53$19.66
55$18.38$23.51
60$23.70$28.78
65$28.19$34.60
70$34.83$44.41
75$45.60$62.79
80$76.54$110.92

 

How Working With Choice Mutual Will Save You Money

First, it’s important that you understand that we do not sell any other product or service. We only deal with burial insurance. We believe in being masters of this business instead of being mediocre at many things.

It’s kind of like having a heart issue. You don’t want your primary care physician to treat you for your heart troubles. You go see a cardiologist for that because they are experts specifically with the heart and circulatory system. We are the burial insurance experts 👍

When it comes to buying burial insurance, here is how we can and will save you money.5000 life insurance policy

First, we will thoroughly assess your health. We do this so that we can isolate which final expense companies will be most accepting of your health conditions. We are independent, and we represent lots of carriers.

Once we know which companies will view your health most favorably, we will run quotes with all of them. Then it’s just a matter of identifying which one comes back with the cheapest rate for a $5000 life insurance policy.

In essence, working with us is like making 15 phone calls to different insurance companies. However, you tap into our knowledge of how each of these companies underwrites, so you can feel confident that when we recommend a carrier, you know you will be accepted by them.

But wait there’s more

Another huge benefit to working with us that saves you money is that we give you access to many reputable companies that you didn’t even know existed.

There are dozens and dozens of burial insurance companies that offer excellent pricing and underwriting. The only caveat is they don’t advertise on a mass scale which is why their names aren’t familiar to you.

There is a VERY good chance that your best plan resides with one of these companies. Working with us gives you direct access to them.

 

Your Health Plays A Big Role In The Price

You must understand that your health issues will have great influence on what funeral insurance companies charge you for the insurance. For example, if you answer yes to any health question with any carrier, it will mean a higher monthly price.

Here’s the deal

To get the best price you must find a burial insurance company whereby you would be saying no to all their health questions. This is where Choice Mutual comes in. Because we have free access to lots of companies, we can place you with whichever company we feel is best for you.

5000 life insurance policy

Once we know about your health, we can quickly determine which company has underwriting where you would answer no to all their health questions. Presently, we have around a 90% success rate at achieving this.

Make no mistake, there are some health situations where a person will unequivocally have to pay a higher monthly premium. However that is exceedingly rare.

Ultimately, if you put your faith in us, we will deliver immense value for you just like we have for thousands of other families. You can count on that.

About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual works with all the top burial insurance companies throughout the nation to secure you the best price possible.

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