So you’re 56 and want to know what final expense coverage will cost you.
It’s less than you might have thought.
You can see the prices just below.
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You asked what will funeral insurance cost at this age?
Just as promised, here are real age 56 final expense rates.
These are real prices (from the insurance companies) based on age and gender.
Having said that, you must keep this in mind…
- There is no promise that you will qualify for these quotes. You must apply and be approved by the issuing insurance company.
- Females in Montana will pay the same rate as males. State rules there dictate that life insurance rates are the same for all genders.
- Do you use tobacco in forms other than a cigarette? If so, we may be able to secure you pricing at a non tobacco rate. Ask us how.
- The amount of coverage you want to buy is up to you. Essentially you can have any amount you want. You are not constrained to just $5k, $10k, $15k, or $20k options.
- All prices for burial insurance stay the same once the policy is issued. They do not rise with age.
GENDER & RATING $5,000 $10,000 $15,000 $20,000
Female No Waiting Period $16.24 $29.27 $42.31 $55.34
Female Tobacco & No Waiting Period $21.23 $39.57 $57.75 $75.93
Female Guaranteed Acceptance $19.30 $37.68 $56.05 $74.43
Male No Waiting Period $19.83 $36.45 $53.08 $69.70
Male Tobacco No Waiting Period $26.33 $49.45 $72.57 $95.69
Male Guaranteed Acceptance $24.34 $47.76 $71.18 $94.60
A funeral policy is nothing more than a specific type of life insurance where the proceeds are meant to pay off final expenses.
It’s important to note that sometimes the names “burial insurance” or “final expenses insurance” will also be mentioned in place of “funeral insurance”.
All these labels are referring to the same exact thing.
At the end of the day, these plans are whole life insurance policies with lax underwriting so folks with health issues can still qualify.
The coverage amount options are very small too. You can buy as low as $2,000 in coverage with most insurance carriers.
Due to them being whole life insurance, the way they work is ultra simple.
Here are the main features you need to know about…
- Lifetime coverage that won’t expire because of age.
- Death benefits remain level for life and cannot decrease.
- Premiums are locked in forever. They cannot increase with age.
As is the case with all life insurance, when the insured passes the insurance company will pay the proceeds to your family.
It’s important to note that the death benefits are not taxed.
Technically, the money can be used for anything. There are no restrictions whatsoever how the money is spent.
In the end, if there happens to be funds leftover, that money would remain with your family to use as they see fit.
Pretty much anyone between 0-89 can get a policy. Yes you read that correctly. It is absolutely possible to get over 80 life insurance.
Whether or not you can get a plan depends on your age, health and state of residence.
Qualifying is simple
First, you will never have to take a physical or medical exam. Some applications have health questions and some do not.
Plans with health questions offer immediate protection with no waiting period.
At the same time, all policies with no health questions have a two year waiting period before the insurance actually kicks in.
During the waiting period, the insurance company would only refund premiums paid plus interest. Only after two years would they pay the full death benefit amount.
Because of the waiting period, it’s best to answer health questions when you apply. If you’re approved, you’ll pay less and have day one coverage . Those are two very good things 😀.
You might be wondering, why should I choose Choice Mutual?
It’s a valid question.
If you need final expense insurance, here’s why you should work with us…
There are three main reasons we are different. You will not find these qualities with any other agency out there.
- We are an independent agency. Presently, we represent over 15 different funeral insurance companies. We are not married to any particular one. Our independence allows us to shop all the top companies for you, so you get the best deal possible on your burial insurance.
- All we do is final expense life insurance. By no means are we a jack of all trades. We strongly believe at being experts at this product and no other. Essentially, we have a P.H.D. in burial insurance. Our intimate familiarity with how each carrier underwrites enables us to know with virtual certainly which company will provide you with the best funeral insurance plan based on your individual risk.
- You are our only interest. We are sincerely committed to helping you secure the best burial policy on the market. It does not matter to us 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 finding the best final expense insurance company, we would love to earn your business.
Just have questions? That’s okay too. Our agents are friendly and here to help with all your needs.
You can call us at 1-800-644-2926.
If you prefer that we call you, just fill out the quote form that is located on this page. A licensed agent will be in touch shortly.