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Did you know Booker T. Washington was only 59 years young when he passed away? The legendary educator/author/activist is very well known for many things. You can see one of his more prominent quotes that’s in the picture of him. Hopefully, at the age of 59 you too have many things you can proud about. However, we hope you far outlive Mr. Washington. With that, it’s always important to plan for the inevitable. Burial insurance is the perfect product to ensure you have your end of life expenses taken care of, so your family will not have to. In this article you will find some general sample burial insurance rates for 59 year olds to help you get an idea of the cost at your current age. In addition, we will also talk about what makes final expense insurance unique.
Sample Burial Insurance Rates for 59 Year Olds
Here are some final expense prices for someone at your age. Take notice, there are rates for both tobacco and non tobacco users. If you smoke cigarettes, expect to pay a lot more for life insurance with every company.
Non Tobacco User- Female
Non Tobacco User- Male
Tobacco User- Female
Tobacco User- Male
What is final expense insurance?
First and foremost, final expense insurance is life insurance. More specifically, it’s a simplified issue whole life insurance policy. Because it’s whole life, the policy will not expire at any age. Furthermore, the payments are fixed for life, and the benefits cannot decrease. Basically, it never changes, and you can always count on it being there to pay your funeral costs when that day comes. It’s the ultimate peace of mind knowing you are instantly protected from your loved ones having to bear the financial burden of unpaid final expenses.
What makes burial insurance truly unique is the underwriting. Because the insurance companies know that seniors naturally develop health issues with age, these plans are designed to accept many common health problems. Whereas with your more traditional life insurance policies, they are much harder to qualify for. Burial insurance policies have the capacity to absorb some very serious health conditions. The health issues accepted by final expense plans would absolutely get you declined with traditional life insurance policies. In the end, the underwriting is incredibly lax to ensure that the vast majority of applicants can qualify.
Another unique feature of final expense insurance are the really low face amount options. With final expense, you can buy as little as $1,000 in coverage. With traditional life insurance, you are typically forced to buy no less than $20,000-$50,000. The low face amount options is wonderful because it enables you to only purchase just want you need. You don’t have to spend money on coverage that quite frankly you don’t need.
Because final expense has a simplified issue application process, there are never any physical or medical exams. Additionally, the insurance company will typically render a final decision regarding your eligibility once you submit your application.
Choosing the best burial insurance policy at age 59
To figure this out, you need to first figure out what goal you want to accomplish. For example, answer the following questions:
- Do you just want to pay for funeral expenses?
- Do you want to leave money behind to anyone?
- Do you need to pay off any other bills?
If you are like most people, you are just trying to ensure you have your final expenses paid for, so your family won’t have to do it on their dime. Whatever your overall goal is, it will tell you how much coverage you need to complete your mission. Don’t get too caught up in knowing the cost of funerals. Your Choice Mutual agent can help you figure this stuff out.
Once you know how much coverage you need, you need to find whichever insurance company will give you the best deal. Technically, we could write a book (and it would take a book) that would tell you how to figure out which burial insurance plan is best for you, so you could try to do it on your own. However, even if we did that, the insurance company would instruct you to contact an agent or agency who would be able to actually sign you up for the policy.
Instead of doing all of that, just let us do the heavy lifting for you. Here is how we will help you choose the best burial insurance policy at your age.
This is our process
Step 1) You ask us any up front questions, and you tell us a little bit about what you are looking to accomplish. We will also probably ask you some follow up questions to get a clear sense about your objective.
Step 2) We talk with you about your health. We will get to know all your medications and become familiar with your entire health history. This will arm us with the information we need to identify which burial insurance companies will accept your entire health profile.
Step 3) We will compare the rates from all the burial insurance companies that we identified from step one. We will then sort this list to see which company will offer you the best deal.
Step 4) We work with you and your budget to find a level of coverage that is comfortable with your monthly budget, and get you approved. On the other hand, if you need to wait on applying, that is ok. We will still work with you.
That’s it. It’s super simple, fast and efficient. We can service you in a way that nobody else can. This is our area of expertise and, quite frankly we are good at it.
One more thing
Obviously, we have no way of knowing where you are in your research process in regards to burial insurance. You may just be thinking about it. In contrast, you might just be looking for the right company to help you. Here is the message we wholeheartedly want you to know.
We do not care who you go with; we just want to you get covered as soon as humanly possible!
Clearly, we would hope we get the opportunity to earn you business. We know we can get your the right plan with the right company. However, if you decide to go elsewhere and get covered, we are still just happy that you got something. It may not be your best options, but whatever you get is a heck of a lot better than nothing at all.
We are giving you this important message for one simple reason. Your health is not promised and it can change at any time. Countless times we have had folks try to wait a week or months for various reasons. Unfortunately for them, their health changed and it had huge effects on their eligibility and price. You will not save money by waiting. In fact, just the opposite will happen.
If you know you want to be protected, do it now.
Waiting will only make it cost more. A year or two won’t impact the price much. Check out what burial insurance costs will be when you are 60. Getting a year older isn’t the issue. It’s your health that you need to be concerned with. If you are healthy now, it does not mean you will be as time goes on. Do not make the same mistake the lots of others have by waiting. Health impairments only make it harder to qualify and more expensive.
We are here to help. Call us at 1-800-644-2926. You can also let us call you by filling out our quick and easy burial insurance quote form on this page.