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Many folks don’t even think about burial insurance until they enter their 50’s. When we are young and healthy, it’s just not something that comes to mind. Regardless of when this pops on your radar, you always have affordable options.
Here’s some great news
Being at least 50 is actually a very good thing when it comes to final expense life insurance! We realize that sounds odd, so let us explain.
Most burial insurance plans with most companies have a minimum age requirement of 50. Just to be clear, there are many companies that offer this coverage to people younger than 50. The fact remains that there are far more options for folks who are 50 and older.
Here’s the deal
When you the consumer have more options, you win. Having access to more burial insurance companies now that you are 50 will give you a better chance of finding the best plan at the lowest price.
How To Find The Best Burial Insurance Over 50
Every savvy consumer these days fully understands the need to shop around. Comparing prices from multiple companies is the surest way to get the best deal on what you are looking to buy. This fact holds true when it comes to burial insurance.
Think about this
There is a reason life insurance products are not sold in grocery stores. It’s because there are many variables that come into play. Burial life insurance is not a one size fits all thing. What you need is a qualified advisor that can help you find the best deal.
Here’s the cold hard truth
To find the best burial insurance over 50, it’s critical you work with a highly experienced independent agency that can do the shopping for you. Their job is to assess your individual situation and determine which company will best suit you.
You can do one of two things:
- You can call 15 different burial insurance companies looking for quotes.
- You can have an independent broker give you those 15 different quotes instantly.
Which of those options makes the most sense to you?
We Get Paid By The Insurer & Rates Are Fixed By Law
Final expense life insurance companies pay us a commission because we bring them business. In addition, the rate you pay when you buy through us is the same as if you bought it directly from the insurance company (most don’t even sell direct).
Ultimately, working with an independent broker like Choice Mutual will save you a ton of time and money. You literally have everything to gain, and nothing to lose.
A Basic Breakdown Of Burial Insurance Policy
Final expense life insurance plans are incredibly simple to understand. First, they are always a whole life policy. That means the premium can’t change, the policy will never expire, and the death benefit can’t decrease.
You will only need to answer some questions about your health. There are never physical or medical exams. In fact, most burial insurance companies will render a final decision regarding your eligibility within 10 minutes.
Essentially, when you pass away, your beneficiary(s) will receive a tax free check equal to your death benefit. This will give them the money to pay for your funeral costs. If there is any money left over, it stays in your family.
What About Health Issues?
As you may know, burial insurance is still a form of life insurance. Thus, your health will play a major role.
Here’s the most important thing to understand about burial insurance
The underwriting is incredibly relaxed. This means that most everyone in spite of major health issues still qualifies for a burial insurance plan. The only question is, which company will take all your health conditions?
To answer that, you need an independent agency that knows the underwriting with each company to figure it out for you.
Oh and check this out
There are even funeral insurance policies that have no health questions or medical background checks of any kind. These kinds of plans are called guaranteed issue. They simply issue the policy to anyone who applies.
These guaranteed issue plans do cost more and they won’t pay out any benefits if you die within the first two years. If you did pass during the first two years, they would refund all your money plus interest. Please note, it’s very rare that someone needs this kind of policy. Never assume you need one of these.
Here’s the point
Most people can have major health issues and still easily qualify for a plan (with health questions) with some company. If you have some really major health issues like kidney failure requiring dialysis, HIV, or dementia, you can still get a guaranteed issue plan.
Prices For Burial Insurance Over 50
Below you will find a list of links to articles that show you some sample rates. You can also use the quote tool on this page to see prices. Being in your 50’s means you will pay a very small monthly price compared to people who wait until they are 70 or 80.
- Burial insurance for a 50 year old
- Burial insurance for a 51 year old
- Burial insurance for a 52 year old
- Burial insurance for a 53 year old
- Burial insurance for a 54 year old
- Burial insurance for a 55 year old
- Burial insurance for a 56 year old
- Burial insurance for a 57 year old
- Burial insurance for a 58year old
- Burial insurance for a 59 year old
Please Remember This
Time is of the essence. Please do not put this off. If you know you want a burial insurance plan, please take immediate action. Most people take their current health for granted. As mentioned, your health plays a massive role in regards to what you pay. Burial insurance for a
If you should experience a serious health event, it could force you to pay 50-100% more and impose a waiting period on your policy.
Don’t be a TOG (that one guy)
We have countless stories of people who chose to wait. Unfortunately, their health changed for the worse, and it significantly impacted the cost of their coverage.
↓ Here’s the best advice we could give anyone shopping for burial insurance ↓