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Did you know that Babe Ruth died at age 53? Unfortunately, cancer took his life on August 16, 1948. It just goes to show that tomorrow is never promised. If you are 53 and looking to get burial insurance, we salute you. You are definitely ahead of the curve. For some reason, most people are in their 60’s before they begin to plan for their end of life expenses. Part of doing your homework before making a purchase is reviewing the cost. With that, this article should be of particular assistance to you. You will find some real sample burial insurance rates for 53 year olds.
Here Are Some Sample Burial Insurance Rates For 53 Year Olds
Please note, these are not perfectly exact prices. These final expense rates are rounded off to the nearest dollar. If you would prefer to have quotes directly from the burial insurance companies, just fill out our quote form on the side. You will see a list of prices from a bunch of top rated final expense companies in your state.
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What determines your price for burial insurance
Burial insurance is life insurance. It’s just a certain type of permanent life insurance that is perfectly suited to cover burial and other final expenses. With that, the price for all types of life insurance is the result of the following three factors:
- Your age
- Your health
- The face value of the policy
The older you are, the more you will pay. Thankfully, you are only 53, so the prices are still very low. If you check burial insurance prices for your 54th birthday, you will see they don’t rise that much. Your health is another matter. Keep reading to learn more about how your health affects you rates.
How health impacts burial insurance
Other than age, your health influences the price for final expense insurance more than anything else. Every burial insurance company will take your health into consideration when you apply. In general, the more illnesses you have, the harder it will be to qualify for low rates.
Thankfully, burial insurance was designed to accept many health problems. If you deal with minor things like high blood pressure, diabetes, cholesterol, or arthritis, you can choose any company you want basically. Almost no burial insurance company cares about those kinds of health issues.
On the other hand, you will face more difficulty if you have some more major health issues like heart attacks, strokes, a bout with cancer, long term diseases, or some chronic illness. Remember, we said you will face more difficulty, but it will not be impossible.
If you have some major health problems, your goal is basically to find which burial insurance company accepts them with open arms. Essentially, this is the only challenge you really face. The thing is, there are so many burial insurance companies out there, and they all have different underwriting. At the end of the day, they all accept and decline different health problems. The net result of all this underwriting diversity is that there is a really good chance that one of them out there will gladly accept your health conditions.
This is where an independent agency like us comes in. It’s basically impossible for you to call dozens of companies and attempt to diagnose which one might accept all your health problems. You can make your life infinitely easier, and save a lot of money by consulting with a qualified independent agency like us. All in all, in a few minutes, a company such as ourselves can tell you which burial insurance company will be your best value. Even if you decide to not work with us, just find any qualified independent agency that can shop many different burial insurance companies for you.
what about no health question burial insurance plans?
There are many final expense companies today that offer no health question policies. They are known as guaranteed issue or guaranteed acceptance burial insurance plans. They do not ask any health questions or check your health in any way. Everyone who applies is approved.
There are two penalties you will incur with this type of policy. First, there is a mandatory two year waiting period. If you pass away during this time, the insurer will simply refund all your premiums plus a small amount of interest. Thankfully, there is no risk of losing any money.
The other penalty is a higher than normal monthly price. As you can imagine, these kinds of plan attracts some very unhealthy folks. As a result, the insurance companies must charge more to cover this higher than normal level of risk.
The truth about guaranteed issue burial insurance is that very few people should be buying this type of policy. The reason we say this is simple. The vast majority of people can and do qualify for burial insurance that has underwriting. As a result, they pay less per month, and they avoid unnecessary waiting periods.
As stated above, there are tons of burial insurance companies in the market today. Because they are all different, there is usually one of them out there that will accept you with all your health issues. The only question is, which one is it? Again, that is where a company like us comes in.
Do yourself a favor and never buy a guaranteed issue burial insurance plan without first consulting with an independent agency like us. If guaranteed issue is truly needed because of your health, we will let you know. Call us if you like. We are here to help.
About the Choice Mutual Difference
Choice Mutual is the most trusted burial insurance resource on the web. Nowhere else will you find a more experienced and qualified agency to guide you on your search for final expense insurance. We are not a jack of all trades. For the last five years, we have focused only on burial insurance. We always have and always will be experts in this business. Finally, you might be wondering what sets us apart from the other companies. All in all, there are 3 key elements that make Choice Mutual uniquely qualified to serve your burial insurance needs.
- We are an independent agency. This independence is why we can freely represent all the top final expense companies in the nation. In the end, we shop all the companies for you, so you get the best deal possible on your burial insurance.
- We have a P.H.D. in burial insurance underwriting due to our vast experience exclusively in this business. This intimate familiarity of burial insurance underwriting enables us to know with virtual certainly which company will provide you with the best burial insurance plan based on your individual risk.
- We are truly committed to helping you secure the best burial insurance plan possible. We do not care which insurance company happens to be your best option. All we care about is doing what’s best for you and your family.
If you need help with burial insurance, we would love to earn your business. You can call us at 1-800-644-2926. If you prefer that we call you, just fill out the quote form on this page. A licensed agent will be in touch shortly.