Try out our easy quote form on this page to get some quick burial insurance quotes. You will see prices from numerous burial insurance companies in your state. If you have some health issues, it’s probably better to just call us. This way, we can review all your health conditions and match you with an appropriate carrier that accepts all your conditions. Our toll free number is 1-800-644-2926.
Did you know that at age 62 J.R.R. Tolkien published the first volume of his fantasy series “Lord of the Rings”? Lord of the Rings is regarded as one of the bestselling novels ever written having sold over 150 million copies. In addition, the motion picture trilogy has grossed over $1 billion in sales. The overall message is- at age 62 anything is possible! Another thing that is possible is for you to secure some affordable burial insurance to ensure you family are not left with your funeral and burial expenses. In all honesty, you probably didn’t come here to learn about lord of the rings. You are probably interested in learning about the cost of final expense insurance. We have included some cheap sample burial insurance rates for 62 year olds to show you just how inexpensive it can be to have your final expenses covered instantly.
Benefits of a burial insurance plan
These policies are designed to provide the funding for your end of life expenses. They pay cash directly to your family for your burial or cremation expenses. If there is any money left over, it goes to your family.
Final expense insurance is a type of life insurance that is incredibly easy to understand. First of all, its whole life insurance. Because of this, the policy cannot ever expire. You can always count it being there to pay for your funeral expenses, so your family won’t have to.
The monthly payments on burial insurance are fixed. There is no chance the insurance company can raise your monthly premiums. It’s simply not possible. Your benefits can never decrease as well. Lastly, as long as you make your payments, the insurance company can’t cancel your policy.
At the end of the day, if you are looking for a plan that will always be there, never change, and provides immediate protection to ensure your funeral expenses are taken care of, final expense insurance is your new best friend.
Getting the best burial insurance plan
The simplest and most effective way to get the best burial insurance plan is to utilize the services of an independent insurance broker like Choice Mutual. Only an independent broker can compare prices and coverage for all the top burial insurance companies in your state. The whole idea is to compare and shop in order to find which burial insurance plan best suits you.
If you deal with an agent or company that only has one or two burial insurance plans to choose from, there is a very good chance that you will not get the best deal possible for you and your family. So let an experienced independent agency like Choice Mutual save you time and money. In just a few minutes, we can diagnose all your health issues to see which companies will accept you. Then it’s just a matter of comparing the prices from those companies to see which one will give you the cheapest price.
Once you make the decision that you want to be protected, take immediate action. Your health greatly affects the price of final expense insurance. If you get a year or two older, it won’t affect the price very much. See final expense prices for a 63 year old and a 64 year old to see for yourself. However, if you wait like five years you or more, it can make a big dent in the price. With all of that, make sure you act now because your health is not promised to remain . In fact, many people who do wait are often saddled with health issues later in life that drive up their prices.
Sample Burial Insurance Rates for 62 Year Olds
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Be very aware of certain “burial insurance” companies
We put the words “burial insurance” in quotations because there are some companies that will try to sell you fake burial insurance. That may sound strange, but sadly it’s the truth. First of all, burial insurance is always a simplified issue whole life insurance policy. As stated, whole life policies can’t go up in price or expire once you hit a certain age. For the rest of your life you will have companies that will try to sell you life insurance that goes up in price with age, and it ultimately expires at a certain point.
We encourage you to ask yourself the question: Am I okay with a temporary life insurance plan that expires to pay for my funeral expenses? If you are not okay with that, you need to be careful because there are companies out there that will try to sell you this fake burial insurance without telling you up front how the policy really works.
This may come as a shock to you, but in our experience, there are two main companies that do this more so than any other. Please note, we have no way of knowing if their official policy is to not disclose these details. This is our opinion based off the feedback from hundreds of buyers over the years who have dealt with these companies.
Both AARP and Globe Life consistently try to sell seniors fake burial insurance. Both of them sell term life insurance (life insurance that expires) to seniors, and they market it as “burial insurance” or “final expense insurance”. Unfortunately, every single person we have ever spoken with that dealt with them had no clue whatsoever that their policies would increase in price with age and one day expire. Not all life insurance is the same, so watch out.
If you decide to save up the money for your funeral
Sometimes people consider setting aside a certain amount each month to save up for their funeral costs rather than take out a burial life insurance policy. It’s an honest thought, so let’s dig into it.
First of all, if you decide to actually go through with the savings account method to pay for your funeral costs, you must be willing to commit to the following two habits. If you do not, the savings account method is simply a fallacy that will never actually come to fruition. We have seen this happen. If you don’t do these two things, your are simply tricking yourself into thinking it will work.
- You must set aside whatever amount you choose each and every month without fail. You cannot miss a single month, and you must keep doing this for decades. If you do not, you will never save enough money to pay for your funeral expenses.
- You must consider this money “not yours”. Technically, this money you are setting aside is not yours because it belongs to your funeral. You must imagine as if the money you save is out of your reach for any reason. If you spend it, then it won’t be there to pay for you funeral expenses which would defeat the whole reason you started this savings account in the first place. Seriously, no matter if your car breaks down, you need medicine, your light bill is high, or any other emergency reason that requires money. You can’t for any reason touch the money. If in your mind you are willing to tap into your funeral cost fund, you will spend it one day and then your family will spend their money on your funeral one day which is what you wanted to avoid in the first place.
The huge downfall of the savings account method
It’s certainly better than doing nothing, but in our opinion it’s a flawed choice. Let us be clear on something before we dive into this. If you currently have cash on hand to pay for your funeral expenses, you honestly don’t need burial insurance. There is nothing wrong with allocating your current cash on hand to cover your funeral expenses. With that, our dialogue here is geared towards someone who does not currently have a way to pay for their funeral expenses if they were to die today.
If you go the savings account method, there is an important question you must answer: How long will it take for you to save up enough money to have enough to pay for your end of life costs? For example, a traditional burial can very often cost $10,000 today. Let’s say you set aside $40 per month to prepare for that. 40 bucks per month is $480 per year assuming you never miss a month of saving. 10,000 divided by 480 comes out to just over 20. To put this in perspective, it would take you over 20 years to save up $10,000. Actually, you would need to save longer than that because of inflation.
Here is an important question for you. If you pass away during next 20 years, how is your funeral going to be paid for? Remember, you don’t have the money saved up, so there is going to be a balance due. Your family will have to come in and pay the difference by any means necessary.
The bottom line is that, the savings account method provides no form of immediate protection, nor can it. Moreover, it will take a very long time before you have enough saved to make a remote dent in your funeral costs.
why you should get a burial insurance plan
Put simply, burial insurance is the only way to immediately ensure your funeral expenses are paid for. A final expense policy with an immediate benefit pays out instantly. It doesn’t matter if you have only made one payment on your policy. There is no other way to attain this kind of instant peace of mind.
With that, we assume you want a burial insurance plan that has no waiting period if you can get one. To do so, you need to let an experienced independent agency like Choice Mutual help you. If not, you are going to pay more and you might have to suffer through an unnecessary waiting period. With us, 90% of our clients get a plan that goes into effect right away with no waiting period whatsoever. This is possible because we have so many final expense companies to choose from.
Do yourself a favor and let us earn your burial insurance business. This is all we do, and we are very good at it. Fill out the quote form found on this page, and we will call you shortly. On the other hand, you can call us toll free at 1-800-644-2926.