Did you see an Opencare final expense commercial and want to know details about their coverage and the company?
In this Open Care senior plan review, you will learn who they are, if they’re trustworthy, how their plans work, their prices, and much more.
Topics covered in this article
- Who is Open Care?
- Final expense plan details
- Senior plan details
- Sample prices
- Fine print
- Their insurance companies
- Are they the best?
Open Care Seniors is an independent insurance agency based out of Naples, Florida, that mainly sells final expense life insurance. They also sell term life insurance, accidental death, and Medicare-related products. It’s hard to find information about them, but our research revealed they are a legitimately licensed insurance agency.
They run many national TV commercials that claim you’re eligible for $25,000 in final expense coverage.
Their website highlights amazingly low prices, such as “rates start at $7.49 per month”. Similar to the Colonial Penn $9.95 plan, you should not take rates seriously.
You should not in any way expect to pay $7.49 per month for coverage (or any price close to that) if you opt to buy an Open Care life insurance plan.
Open Care funeral expense plans are available up to $50,000 in coverage, and no medical exam is required. It’s a whole life policy where prices don’t increase over time, and coverage won’t decrease. The policy will never expire, and it builds cash value.
They have two options to choose from:
- Guaranteed acceptance: You are not required to answer health questions. Everyone, regardless of health, is guaranteed to be approved.
- Simplified issue: There is no exam required, but you answer health questions. Qualification is based on your health history.
In exchange for the guaranteed approval option, that plan has a 2-year waiting period before you’re insured. During the waiting period, the insurance company will not pay out a death benefit.
Instead, they would merely refund your premium payments plus interest (interest is on your premiums, not the death benefit).
The other plan that has health questions has no waiting period where you’re immediately insured if you’re approved.
Term life option
The other Opencare senior plan is a term life insurance policy in amounts of $25,000-$500,000 for adults age 18-75. This plan is temporary.
Their term life option will expire after 10, 20, or 30 years, unlike their final expense plan.
Please note, which term length you can qualify for is determined by your age. For example, a 60-year-old will not be eligible for a 30-year term.
Also, it’s helpful to remember that you must medically qualify for their term life plan. There is no guaranteed acceptance option for a term life policy.
The Open Care “senior plan” is just a marketing expression. When Open Care uses this phrase, they are simply referring to their final expense whole life coverage. Some of their plans have health questions, and some don’t. The prices will not increase, coverage won’t decrease, and the policy won’t expire.
Go here to see a more detailed overview of how their final expense insurance works.
First, do not expect to pay $7.49 per month. That price is for a healthy, non-smoking female purchasing $2,000 in coverage. Per their website, they claim $8,000 in coverage will cost $17-$252 per month. Your exact rate depends on your age, health, the amount of coverage you buy.
As a general rule, the cost of final expense coverage typically ranges from $50-$100 per month for a $10,000 policy.
Below is a table (rates are from their website) that shows precisely how much Opencare burial insurance plans cost.
|AGE||Female Non Smoker||Male Non Smoker||Female Smoker||Male Smoker|
|Rates shown are for $8,000 in coverage for the Opencare Senior Plan|
They also have an online quoting tool to see prices for any age and face amount you desire.
What’s nice is that their quoting tool does not require you to input a phone number or email to see prices.
The only real fine print you need to be aware of is regarding the waiting period. Opencare frequently and prominently advertises how you cannot be denied for their coverage.
While that is true for people 85 and younger, any guaranteed acceptance plan will always have a 2-year waiting period.
That is neither bad nor unique to the Opencare senior plan. All companies that sell guaranteed issue life insurance have a waiting period.
Other than that, you don’t need to be concerned with any other fine print.
Opencare is an agency. They are not an insurance company. They merely represent multiple insurance companies on your behalf. That is not a bad thing.
In fact, that is good because hopefully, they represent multiple companies which would allow them to freely compare offers from various providers to find you the best deal.
Their TV commercials make no mention of which final expense companies they represent. Sadly, their website does not provide much more insight.
However, after doing some digging, we did confirm that Mutual of Omaha’s final expense insurance is one such plan they sell.
Other than Mutual of Omaha, it’s completely unknown which other companies they represent.
There isn’t anything negative about them on the internet, so there is no reason to believe they are untrustworthy.
That said, as a consumer, you have no way of knowing which companies they represent.
They should make that clear on their website.
You have no way of knowing if they can shop the market for you to get you the best deal.
Do they work with just one company or 10? There is no way to know, sadly.
When buying burial insurance coverage, you must compare offers from multiple insurance providers to ensure you’re getting the best deal for yourself and your family.
We don’t know if Opencare can do that.
If you would like a second opinion, give us a chance to earn your business. We’re an independent agency that specializes in final expense insurance.
Call us at 1-800-644-2926 or use the quoting tool on this page to get started. Our quoting tool shows you rates from all the various insurance companies we represent.
We work with over 15 different companies to compare offers from multiple companies to isolate the best deal.
Or you can go with Opencare. You’ll very likely be in safe hands, but you’ll never really know if their offer is the best you can do.
Below are the most common questions people ask about Opencare insurance for seniors.
How much is Open Care’s final expense plan?
Opencare says they offer coverage that starts at $7.49 per month. While that’s true, most applicants pay much more. They offer insurance from $2,000-$50,000 with no medical exam. Your exact will rate depends on your age, gender, and health.
What is Opencare Senior Plan?
The Open Care senior plan is a whole life insurance policy. It provides a quick cash payout to ensure your family can pay for your final expenses. Coverage ranges from $2,000- $50,000, no exam is required, and nobody can be denied.
How much is Open Care insurance?
They frequently claim their senior insurance starts at just $7.49 per month, but that is rarely the case for most applicants. Some applicants pay $50 per month for $10,000, while some pay $200. Your price is calculated based on your gender, health, and age.