Need to know what funeral insurance costs for a 62 year old?
Then you came to the right place.
In this article, you’ll see real prices, how final expense policies work and tips to getting low rates.
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In the table below you’ll see real age 62 final expense life insurance rates.
Know that these are real premiums not fake ones as a bait and switch attempt.
Please keep the following in the back of your mind as you browse these quotes.
- You must be medically approved for these (or any rate) prices.
- In Montana they stipulate that females will pay the same rate they charge for males.
- People who use tobacco or nicotine that is not a cigarette may be eligible for non tobacco pricing with some carriers.
- You aren’t limited to just these face amounts. You can have more or less or amounts in between.
*** Rates stay the same forever ***
GENDER & RATING $5,000 $10,000 $15,000 $20,000
Female No Waiting Period $19.63 $36.06 $52.49 $68.92
Female Tobacco & No Waiting Period $26.22 $49.24 $72.26 $95.28
Female Guaranteed Acceptance $25.05 $48.09 $71.13 $94.18
Male No Waiting Period $25.55 $47.90 $70.25 $92.60
Male Tobacco No Waiting Period $35.11 $67.03 $98.94 $130.85
Male Guaranteed Acceptance $30.85 $60.78 $90.70 $120.63
A burial insurance policy is simply a small face value whole life insurance policy. The proceeds of the policy will give your family the necessary money to ensure they can pay for your funeral expenses.
It’s important to note that many different names exist for these plans. The terms “final expense insurance” and “funeral insurance” are also commonly used.
All three of these names refer to the same thing. They’re just marketing expressions that have been around for decades.
Now, since burial policies are whole life insurance the fine print so to speak is very straight forward. Here are the pertinent details:
- Locked in rates that can never increase
- Policy is guaranteed to never expire
- Coverage is locked in for life and cannot decrease
- Cash value accrues over time that you may borrow from
That’s literally all there is to these plans. There is no hidden clause somewhere that you need to be concerned with.
Now since these plans are life insurance, the insurance company is simply going to payout a tax free cash benefit to your beneficiary upon your passing.
There are never any rules regarding how this money is spent. This is great because all funeral homes will take cash, so no matter what you want cash will get the job done.
Should there be money leftover after your family pays for all your end of life funeral bills, it stays with them.
The main thing to understand is that every burial insurance company will respond to your health differently.
Ultimately, your best rates will be with companies that don’t require you to say yes to any of their health questions.
If possible, a no answer to all a carrier’s questions will result in them offering you the lowest premium they have plus coverage that has no waiting period.
Here’s the best way to do it…
Enlist the services of an independent final expense agency that represents 10 or more insurance companies. Let them gather information about your health so they can determine which companies will accept your health conditions and offer you the best rates.
You must understand that you alone cannot determine how final expense companies will respond to your health issues. Only agents can figure this out for you.
The goal of an independent agent is nothing more than to comparison shop for you to ensure they get you the best deal.
And here’s the best part.
It costs you nothing to work with an independent agent. That’s right; they’ll work with you to find the best plan and it won’t cost you a dime.
Just like you would consult with an attorney for legal advice (rather than doing it yourself), you need to consult with an independent agent to help you find the lowest cost burial insurance.
We can help
Choice Mutual is a national independent final expense insurance agency that represents over 15 different carriers.
If you need age 62 burial insurance, give us a call. Our agents are friendly and never pushy.
We will merely gather information about your health along with answer any questions you may have.
Once we know what companies we’ll approve you, we will make recommendations about which carrier is going to approve you for the best rates.
If you’re ready to apply, we’ll help you with the application to seek your approval.
Once your policy is approved by the carrier, you’ll get a printed policy in the mail.
You can call us at 1-800-644-2926.