Looking for the cost of final expense insurance at age 58?
You can see real quotes below. Just scroll down a tad 🙂
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True to our word, you can see actual 58 year old funeral plan insurance quotes in the table below.
All of these quotes are actual prices from the carriers we represent.
That said, you absolutely must understand these points before you view these rates.
- Showing you these rates does not mean we guarantee you’ll qualify for them.
- Montana has a state rule that stipulates that all genders pay the same rate. For that reason, females in Montana will always pay the same rate as males.
- Tobacco usage that isn’t a cigarette could potentially be eligible for non tobacco pricing.
- You do not have to choose from only these face amounts. You can pretty much have any amount of protection you desire.
- As is the case with all burial policies, these prices would never change once your plan begins.
GENDER & RATING $5,000 $10,000 $15,000 $20,000
Female No Waiting Period $17.02 $30.83 $44.64 $58.46
Female Tobacco & No Waiting Period $22.53 $41.86 $61.18 $80.51
Female Guaranteed Acceptance $21.36 $41.80 $62.24 $82.68
Male No Waiting Period $21.24 $39.27 $57.30 $75.33
Male Tobacco No Waiting Period $28.41 $53.61 $78.82 $104.02
Male Guaranteed Acceptance $26.40 $51.88 $77.37 $102.85
Burial Policies Explained
A burial life insurance policy is nothing more than a limited to no underwriting whole life insurance policy with small coverage amount options.
The main reason people buy these plans is to ensure final bills are taken care of, so not to leave their family with a financial burden.
Because they are a form of whole life insurance, the benefits are very straightforward.
- Lifetime coverage that won’t end due to age.
- Prices are guaranteed to never increase.
- Death benefits are locked in and cannot decrease.
- Builds cash value that you can borrow from.
As is the case with all types of life insurance, the final result will be a tax free check payable to your beneficiary(s).
Most funeral insurance companies will pay their claims very fast too. Oftentimes, checks go out within 24-48 once a claim is approved.
There aren’t any restrictions how the money is used either. Like we said, the insurance company is simply going to pay cash.
Your family can use this money however they desire.
What if there is money left over? Your family would get to keep it.
Funeral expenses, regardless of what you want, are quite high.
To accurately figure out how much coverage you need, it first begins by deciding if you want a traditional burial or a cremation.
There is a BIG difference between the cost of a cremation and the cost of a burial.
On average, a traditional burial will cost $7,000- $10,000.
The average cremation will cost between $1,000 to $5,000.
Your exact price will entirely depend on exactly what you want to have done. Those price ranges are just averages on a national scale.
Once you have determined what kind of service you want, you then have a really good idea of about how much coverage you will need that will pay for all your funeral costs.
Hopefully you can afford enough coverage to ensure your family can pay all your final bills without having to come out of their own pocket.
Consider Inflation Too
Inflation affects all industries including the end of life business.
The rate of inflation for the funeral industry has historically been about 3.43%. At that rate, a typical burial service will cost about $15,000 in 2030.
As you can see, it’s important for you to consider inflation when you decide how much coverage to buy.
Don’t worry about trying to calculate all this stuff on your own. That’s why you have us! Your Choice Mutual agent can and will easily handle this for you.
This is very important.
No matter what, do not try to buy a level of coverage that exceeds your monthly budget.
This is critical. If you can’t afford enough that factors in inflation, just buy what you can. You can always add more later.
We hope you can absorb this information and make clear sense of it.
If you have any questions, you can call us. Calling us is not an obligation to buy.
We will not pressure you into anything just because you wanted to call and ask us some questions. Our toll free number is 1-800-644-2926.
Our agents are here to help.