Would you rather just get a list of quotes from a bunch of different final expense companies? If so, use our quick quote tool on this page. You will see prices from some of the top burial insurance companies in the nation.
Did you know that there are exactly 52 cards in a standard deck of poker cards? Moreover, there are 52 weeks in a year, and a piano has 52 white keys. You have lived on this earth for 52 years now, and you may be thinking that burial insurance at this age is expensive. For some reason, a lot of people have the misconception that final expense insurance after age 50 is costly. Fortunately, nothing could be further from the truth. You will find this article gives a really good estimate about what burial insurance will cost for a 52 year old. We have some sample burial insurance rates for 52 year olds, and some tips on how you can get the best rate on your burial insurance plan.
What exactly is burial insurance?
This is a key question that needs a clear answer because there is a lot of misinformation on the internet about this very topic. Thankfully, you will find the explanation is as easy as 1, 2, 3.
- They are simplified issue (no physical or medical exams) whole life policies
- They have extremely lax underwriting. They are meant to accept many common health issues
- They have very low face value minimums
how final expense plans work
To begin with, because they are whole life, they can’t ever expire. It does not matter how old you live to be. You will never get a letter one day telling you that your coverage is about to terminate due to age.
Second, the price per month is fixed for life. At no point, can the policy increase in premium. What you pay when you start is what you will always pay. Third, the benefits can’t decrease and the insurer cannot cancel the policy for any reason.
Probably the most unique feature of burial insurance is the underwriting. These burial insurance plans are built to accept many types of health issues. The insurance companies know that a majority of their applicants will be seniors. Furthermore, they are well aware that health conditions naturally come with age. For this reason, final expense insurance was designed to accept some pretty major health problems.
Lastly, the face amounts can go extremely low on funeral insurance policies. Some insurance companies will allow you to purchase as little as $1,000 in protection. This is nice because you are not forced to buy more coverage than you need. Only with burial insurance, will you find face amounts like this.
In the end, once you get a burial insurance plan, it will remain there forever. It will never change unless you change it. Ultimately, you can count on it to forever be there for you to ensure you funeral and burial expenses are not left as a financial burden to your loved ones.
Here Are Some Real Sample Burial Insurance Rates For 52 Year Olds
Below, you will see some real prices for burial insurance plans at your age. There are both tobacco and non tobacco rates. These are not exact prices. They are pretty dang close to the real thing, but again they are not exact. If you want real time accurate quotes, fill out our quote form. You will see prices from many different final expense companies. Check out what burial insurance plans cost for a 53 year old if you want to know what it will cost after your birthday.
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Choosing the best burial insurance policy for you
Chances are that price is your most important criteria. You, like most people, are probably on a fixed income, so the monthly payments are ultra important. So let’s talk about how you choose the best burial insurance policy for you.
First of all, you need to know exactly how much per month you can comfortably afford. This is critical. You do not want to put yourself in a situation where you have to choose between your burial insurance and food. In the end, you will eat first which is totally understandable.
After you have identified how much you can afford, it’s time to start shopping around. To begin with, you need to find an independent broker like Choice Mutual that can compare rates from all the top burial insurance companies. The goal then is to see which carrier will offer you the best rate. Unfortunately, this is not a task you could complete on your own.
Think about it. Consider trying to call in excess of 30 different final expense companies and getting quotes from them all so you could see which one is the lowest. More importantly, the underwriting component is where you will really run into a massive wall. Part of getting the best burial insurance policy is by finding one that looks at your health most favorably. This is where an independent broker makes you life infinitely easier. It will save you time and money 100%.
After you find a qualified independent agency (hopefully you give us a shot), it’s just a matter of applying and getting your burial insurance policy in place. Again the key to all of this is finding a good independent broker. We cannot stress how important this step is.
What to do if you can’t afford as much as you would like
Simply put, you buy as much as you can comfortably afford. For example, let’s say you want a traditional burial. Typically, a regular burial will cost anywhere from $8,000-$10,000. In effect, you would need a face amount somewhere in that range to ensure you have your entire burial is paid for.
Now let’s assume that an $8,000 policy costs $50 per month, but you can only comfortably afford $35. First of all, do not try to fit an unrealistic amount in your budget. It’s not going to work. This will only lead to NSF fees and an overdrawn account. Instead, buy however much coverage $35 will supply.
In this example, $35 per month would buy about $5,600 in protection. Sure this is not enough to cover everything, but it’s a heck of a lot more than 0. think about it. If you pass away and you have nothing, how much money will your family have to come up with? They will have to come up with the full $8,000 on their own. However, if you had bought as much as you could afford, they would not have to come up with everything. All in all, if you bought would you could afford, the remaining balance would be $2,400.
Now ask yourself, would you rather your family be stuck with an $8,000 bill, or a $2,400 bill? Obviously, in an ideal world the answer would be neither. However, that isn’t an option based on your budget. So again, think of you family and buy whatever you can comfortably afford. Trust us when we say they will appreciate you doing all you can. We have had many clients in this situation, and their families were extremely thankful their mother or father bought what they could afford. Every little bit helps.
We are here to help. We specialize in only final expense insurance. If you want to get expert service, and ensure you get the best deal on a burial insurance plan, give us a call. Our toll free number is 1-800-644-2926. If you prefer we call you, just fill out the quote form, and we will be in touch shortly!