Final Expense Insurance

Cost of final expense insurance for a 50 year old

Do you want to know how much burial insurance costs for a 50-year?

This article shows you actual prices at age 50, how these plans work, and tips for getting the best price.

Topics covered in this article

 

Sample 50-year-old prices

If you are a 50-year-old, burial insurance costs typically range between $30 and $100 per month. The cost varies depending on your health, the amount of coverage you are looking for, as well as a variety of other personal factors.

You can use the quotes in this table to see prices for the different types of life insurance coverage that interest you. However, remember that these quotes aren’t final and may vary depending on your circumstances.

 

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$13.94$24.67$35.40$46.14
Female Tobacco & No Waiting Period$16.97$31.29$45.20$58.72
Female Guaranteed Acceptance$14.53$28.14$41.75$55.37
Male No Waiting Period$16.18 $29.16 $42.13$55.11
Male Tobacco No Waiting Period$20.05$36.89$53.73$70.58
Male Guaranteed Acceptance$19.66$38.41$57.15$75.90

 

How funeral insurance plans work

Burial insurance is generally a small whole life policy meant to cover funeral all end-of-life expenses. You may have heard of this type of policy before, referred to as final expense insurance or funeral expense insurance.

Whole life insurance policies are easy to understand because they have fixed prices, lifetime coverage, and a face value that can’t decrease.

Additionally, whole life policies offer a tax-free cash payout to beneficiaries with no restrictions on how they spend the money.

Funeral costs range from $1,500 to $15,000 depending on the type of service and extent of amenities. The average funeral cost is about $10,000 for burial and $5,000 for a complete cremation service.

This kind of coverage is sold in small amounts, typically between $5,000 and $20,000, to help policyholders cover these end-of-life expenses.

 

Tips to get the best final expense insurance rates for 50 year old’s (or any age)

With no medical exam required, burial life insurance policies are becoming more popular – especially for those in their 50’s when rates are inexpensive.

These three tips can help get you the best rate on your policy.

 

Tip #1: Work with an independent agency

It’s highly advisable to work with an independent agency representing many different burial insurance companies.

Captive companies, such as State Farm, have agents who can only sell insurance from their company. Captive agents cannot offer you coverage from any other insurance company. Independent agencies are free to shop for dozens of insurance companies. They can compare thousands of policies from dozens of companies to find the one that will offer you the best price.

 

Tip #2: Work with a final expense specialist

Specialists play a significant role in all industries for a reason – they focus primarily on one area. Only a specialist will have the suitable carriers and expertise to help you find the best plan for your unique situation.

Don’t waste your time speaking to several life insurance companies. Speak with a specialist to find the best plan and price for you.

 

Tip #3: Don’t delay purchasing a policy

Buying funeral insurance is a task you don’t want to put off. Life insurance rates increase as you age. For example, life insurance in your 80’s will cost you significantly more than it does in your 50’s.

Health also plays a significant factor in the price you pay. The unhealthier a person is, the higher premiums they will pay.

In addition, certain health conditions can trigger a waiting period before your coverage is active. At 50, you have a great chance of qualifying for a plan with no waiting period.

You can almost certainly get fully protected from day one.

 

How Choice Mutual can help

If you’re in your 50’s and searching for coverage, now is the time to take action. Final expense life insurance at the age of 50 is very inexpensive. It will never be cheaper than it is today.

As a licensed independent agency, our team at Choice Mutual strives to equip you with industry knowledge and provide excellent service. We’ll help you find a burial insurance plan that is best for you and your unique situation.

Get an instant quote quickly by filling out our form with some basic information.