Fill out the quote form on this page to get instant burial insurance quotes from top final expense companies in your state. If you have some major health issues, it’s probably better to call us for an accurate quote. You can reach us toll free at 1-800-644-2926.
Did you know that a man named Charles Osborne once had the hiccups for 68 straight years? Boy that sure is a long time to have the hiccups. His 68 year hiccup attack is a world record. In other news, burial insurance is probably why you are reading this article. We try to keep things friendly around here, but lets get down to business. You are probably searching for burial insurance costs for a 68 year old. Well, you are in luck. We have some Sample burial insurance rates for 68 year olds that should help out with that. Granted, these are not exact prices, but they are pretty close to what most people say. As stated above, if you have dealt with some serious health issues, it’s best to speak with a Choice Mutual agent for truly accurate quotes.
Sample Burial Insurance Rates for 68 Year Olds
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What is burial insurance exactly?
First and foremost, burial insurance is a type of life insurance. To be very specific, its whole life insurance. Basically it’s a smaller whole life policy that is meant to provide the funds necessary to pay off all your final expenses. The idea is, the burial insurance plan pays for it all, so your family does not have to come out of their own pockets to do so. When its all said and done, the policy will pay cold hard cash directly to your family. They use those funds to pay off the funeral home. If there any money left over, it stays in your family.
You will frequently here various companies use the words “final expense” or “funeral insurance” in addition to “burial insurance”. They all mean the same thing, and in all honesty they are just marketing terms. They all refer to a smaller face vale whole life policy that has incredibly lax underwriting. Think of the words “attorney” and “lawyer”. They both mean the exact same thing. It’s just like that.
Burial insurance is quite unique in how its designed. There are some key elements to it that make it unlike most traditional life insurance policies. Keep reading to learn just how burial insurance plans are different.
Final expense has very lenient underwriting
This is aspect is unquestionably the most unique part of burial insurance. The underwriting is designed to accept a lot of very serious health issues. In most cases, everyone is able to qualify for an immediate benefit because there is usually a company out there that will gladly accept all your health conditions.
Final expense was created to serve the senior marketplace. With this in mind, the insurance companies realize that health problems naturally occur with age. They knew there would be some serious health issues among their applicants. This is why final expense has such liberal underwriting. If burial insurance had underwriting that was similar to traditional life insurance plans, hardly anybody would qualify.
In the end, final expense was created to serve as a plan to pay for funeral expenses. The greatly relaxed underwriting is necessary to ensure you and everyone else can qualify and take advantage of this protection. At Choice Mutual, over 90% of our clients are able to qualify for first day coverage that has no waiting period. That means we were able to find them an insurance company that freely accepted all their health conditions.
Ultra low face value options
Yet another unique feature of burial insurance is the ability for you to purchase a very small amount of coverage if you wish. With traditional life insurance, you typically must buy no less than $25,000-$50,000 in coverage. With final expense insurance, you can buy as little as $1,000 in protection. That is quite the difference.
The average face value of a burial insurance policy is currently $10,000. This is great amount of coverage that is more than enough to pay for a traditional burial. Obviously, you can have more or less if you desire. This is just what most people buy. Final expense is the only way these people can buy this amount of coverage. It works out great too because they aren’t forced to overpay for more coverage then needed.
If you were to apply for a traditional life plan, you would inherently be paying much more because the face value of the policy would be much higher than what you need. Having $50,000 in coverage is way beyond what you need to ensure your funeral expenses are taken care of.
If you want to be cremated, burial insurance is your saving grace. Typically, a cremation service will cost between $1500-$5000. You really only need a little bit of coverage. With burial insurance, you can buy this little amount of coverage and feel comfortable that everything will be taken care of financially. You won’t be paying for tens of thousands of extraneous coverage that you don’t need.
Very simple applications
With burial insurance, the application process is incredibly fast and simple. First of all, there are never physical or medical exams. You will never have someone come out to your home and draw blood and take a urine sample. Basically, you fill out the application and in most cases complete a short phone interview with the insurance company. You will usually get an instant decision regarding your eligibility. It’s incredibly rare that you won’t instantly know if you have been approved or not.
As you can tell, burial insurance is unique in many ways which greatly benefit you. The next step is for you to make the decision that you want to be protected. If you aren’t there yet, we hope you remember that your health is a big component in regards to the cost and your eligibility. If you wait, you jeopardize paying more and having to deal with waiting periods if your health takes a turn for the worse. You simply won’t save any money by waiting. In the end, the choice is yours.
It’s our job to present you with our professional experience on this subject. You can compare burial insurance prices for a 67 year old. You will notice that a year or two doesn’t change the cost much. But again, your health is a whole different story. Your health can greatly affect the price of final expense insurance which is why you shouldn’t take it for granted.
If you have made the decision that you want to be covered, please give us a call. We have vast experience in this business and we only focus on burial insurance. For this reason, we can surely identify which burial insurance company will be the best fit for you based on your individual health profile. In the end, we will compare and shop prices from dozens of top rated final expense companies in your state to find which one is best for you. You simply won’t find value like this elsewhere.
Fill out the quote form on this page or call us at 1-800-644-2926. We are here to help.