Top Ten Burial & Final Expense Insurance Policies
USA life insurance offers affordable burial insurance and final expense insurance plans. In a situation you need a good senior life insurance policy with the right benefits. AARP life insurance plan should be the option.
Developed by New York Life Insurance Company, AARP’s final expense insurance will provide your beneficiaries. With invaluable financial peace of mind in the event of an unexpected death.
- 1 Burial & Final Expense Insurance Policies
- 1.1 The best burial insurance companies below here:
- 1.2 AARP Easy Acceptance Life Insurance
- 1.3 AARP Burial Insurance Plans
- 1.4 Gerber Life Insurance: Finalist, Best overall
- 1.5 Burial Insurance Over 50
- 1.6 Foresters Financial: The best types of coverage
- 1.7 Globe Life: Best Policy for Burial
- 1.8 Mutual of Omaha: Best subscription process
- 1.9 Colonial Penn: The Best Value
- 1.10 AAA Life Insurance Company: Best Membership Discount
- 1.11 Fidelity Life: The Best for Waiting Periods
- 1.12 What is Burial Insurance?
- 1.13 What Does Burial Insurance Typically Include?
- 1.14 Can Burial Insurance Be Denied?
- 1.15 Why Choose AARP Life Insurance?
- 1.16 Cheap Term Life Insurance
- 1.17 Top Permanent Life Insurance
- 1.18 Final Expense Insurance Plans
Burial & Final Expense Insurance Policies
“Burial insurance” generally refers to a complete final expense insurance policies with a death benefit of $5,000 to $26,000. Mainly , its nickname implies, people purchase this type of policy to provide money.
Burial & Final Expense Insurance Policies funeral and burial expenses for themselves and / or their family members.
The best burial insurance companies below here:
- AARP Easy Acceptance Life Insurance – Best Overall
- Gerber Life Insurance: finalist, best overall
- Foresters Financial: the best types of coverage
- Globe Life: Best Price
- Mutual of Omaha: Best subscription process
- Colonial penn: the best value
- AAA Life Insurance Company: Best Membership Discount
- Fidelity Life: the best for waiting periods
AARP Easy Acceptance Life Insurance
The policy allows its customers to purchase up to $ 25,000 in burial insurance without a medical exam. And it comes with guaranteed rates that will never increase.
The AARP members ages 50-80 and spouses ages 45-80 are eligible to apply, although this life insurance product. This option is unavailable in Montana, Minnesota, and Missouri.
Your policy will be paid in full even at the age of 95, which means you will not make any further payments. Even if you will have coverage until the end of your life, which will extend beyond 100.
AARP Burial Insurance Plans
Its very fortunate that AARP makes it easy for its members to get a free quote online. After giving basic information and answering a simple health question.
$25,000 in rewards for a man or woman of 50 years old. Start at $137 or $ 106 per month. Those prices go up to $285 and $237 for a 75 year old.
Why we chose this company: We selected AARP because of New York Life’s reputation and financial strength. Even with the ease with which consumers can apply for a policy online and without a medical exam.
Gerber Life Insurance: Finalist, Best overall
Gerber life insurance might be better known for children’s plans. However, this final expense company also offers lifelong burial policies for seniors. Your acceptance is guaranteed.
If you are between 50 and 80 years old. And when you don’t have to endure a medical exam or fill out a long health questionnaire. It only takes a few minutes to apply online, and coverage ranges from $ 5,000 to $ 25,000.
The Gerber burial insurance premiums will never go up. And you can count on being covered for the rest of your life. Mainly, suicides within two years only come with a refund of all premiums plus. 10% interest instead of a full death benefit.
Burial Insurance Over 50
Like other burial insurance providers, Gerber Life Insurance. Makes it easy to get a free quote online or over the phone. Premiums of $ 25,000 in coverage for a 50-year-old man. And women cost $ 108.86, or $ 84.79 per month. For a 75-year-old male, it’s $ 347.42 and $ 269.04, respectively.
Why do we choose this company: Gerber did not earn better overall in the first two years just because of his waiting time for performance. Otherwise, Gerber life insurance offers unsecured end-cost insurance with guaranteed approval for people aged 50 to 80 years.
Foresters Financial: The best types of coverage
The coverage provides lifetime coverage up to age 121, and your premiums will never increase.
Foresters as a company adds three additional brokers to your policy at no additional cost: an Accelerated Death Benefit for Terminal Illness. A Common Carrier Accidental Death Clause and a Family Health Benefit Clause, which is designed to provide additional coverage for certain natural disasters.
If you have to connect with an agent to work with Foresters Financial on a burial. Or final expense insurance policies. The company has a 140-year history in this business. As well as an excellent A rating for AM Best’s financial strength.
Premiums for an amount of $25,000 in coverage for a 50-year-old man and woman are $ 75.27 and $ 60.40 per month, respectively. This increases to $ 252 and $ 182.96 for a 75 year old.
Why to go with Foresters: Foresters Financial made our list because of the three additional coverage factors you receive on your policy. At no additional cost that expand the scope of your coverage.
Globe Life: Best Policy for Burial
This companyoffers burial insurance with a lot of flexibility and options. If we look at an example, you can buy burial insurance in amounts ranging from $ 5,000 to $ 100,000. And you can buy burial insurance for adults and children without a medical exam and no waiting period.
If you’re concerned about quality, you should know that Globe Life is rated A+ for AM Best’s financial strength. Globe Life also has an A+ rating from the Better Business Bureau (BBB).
As per Globe Life, monthly rates for burial insurance start at $3.49 for adults and $2.17 for children or grandchildren.
Premiums amounts of $ 0,000 in coverage for a 50-year-old man and woman are $ 26.34 and $ 18.85 per month, respectively. The amount increases to $ 11.79 and $ 67.81 for a 75 year old.
Why we chose this company: Globe Life announces very cheap monthly rates for its guaranteed burial insurance policies. Including rates for men and women 50 and under for less than $ 30 per month.
Mutual of Omaha: Best subscription process
Mutual of Omaha offers funeral insurance from $ 2,000 to $ 25,000 and is price transparent too. Not only does the company allow you to request a free subscription insurance quote by providing limited information online.
But there is also a table with average premiums by gender and age, which is prominently displayed on the website.
With Mutual of Omaha, you don’t have to complete a medical exam or answer urgent medical questions. Benefits are never reduced because of your age or health, and you are guaranteed to be accepted if you are between 45 and 85 years old. Most claims are also paid within 24 hours.
The premiums for a 50-year-old man and a 50-year-old woman are $ 10,000 per month and $ 36 per month, respectively. This increases to $ 89 and $ 69 for a 70 year old.
Why we choose this company: You don’t have to complete a medical exam or answer questions about your health, and coverage is guaranteed up to age 85. Most insurers end at age 80.
Colonial Penn: The Best Value
This company has been around for over 60 years and offers guaranteed life insurance. People ages 50 to 85 are eligible for coverage in most cases, and cannot be turned down because of their health.
Your Colonial Penn life insurance $9.95 premium is fixed for life, but you have the option to pay your premiums on a monthly, quarterly, semi-annual or annual basis. You won’t have to undergo a medical exam at all, and you can request a free quote online.
A downside to Colonial Penn is the fact that coverage limits may not be high. All policies are priced at $9.95 per unit, with the option to purchase one to eight units. But the company reduces the amount of coverage per unit as people age, regardless of when they buy it.
- 16,444 $ in coverage for a 50-year-old woman.
- 14,288 $ in coverage for a 50-year-old man.
- 10,664 $ in coverage for a 65-year-old woman.
- 7,456 $ in coverage for a 65-year-old man.
- 6,336 $ in coverage for a 75-year-old woman.
- 4,480 $ in coverage for a 75-year-old man.
It is possible to get a coverage unit for $ 9.95 with a limited death benefit.
Why we chose this company: Rates for guaranteed burial insurance coverage can be as low as $9.95 for all ages, although the amounts of coverage will vary.
AAA Life Insurance Company: Best Membership Discount
AAA offers burial insurance coverage for people between the ages of 45 and 85.
The coverage is valid for up to $25,000, although you can buy smaller amounts if you want. Also, coverage is for life and does not expire as long as you continue to live and pay premiums up to 100 years, at which point you no longer need to but are still covered.
While you do not have to be an AAA member to purchase this coverage, there is no $ 60 annual fee for your policy if you are an AAA member. You may also be eligible for package discounts if you purchase life insurance with other policies.
Premiums of $ 25,000 in coverage for a 50-year-old man and woman are $ 115 and $ 83 per month, respectively. This increases to $ 251 and $ 209 for a 75-year-old man.
Why we chose this company: The $ 60 annual fee for this burial insurance does not apply to AAA members, and you have the option of obtaining combined premium discounts on multiple policies.
Fidelity Life: The Best for Waiting Periods
Fidelity Life offers RAPIDecision® final expense coverage designed to help people pay the price of burial and other final expenses. This coverage is a good option if you are between the ages of 50 and 85 and want to buy final expense insurance policies in the $5,000 to $35,000 range.
This policy never expires as long as the premium is paid, and your premiums will remain the same for life. The amount you will pay varies according to your age, sex, and other factors.
Some quotes to keep in mind: The premiums of $ 10,000 in coverage for a 50-year-old man and woman are $ 41.05 and $ 32.29 per month, respectively. This increases to $ 108.05 and $ 83.66 for a 75 year old.
Why we choose this company: Your coverage begins immediately after your premiums are approved and paid, with no waiting periods with limited coverage.
What is Burial Insurance?
Burial insurance (sometimes called final expense coverage) is a type of full life insurance that is marketed specifically to cover final expenses, including burial and prepaid cremation expenses.
This makes final expense coverage different compared to final expense insurance policies over 80 to 90, which are generally purchased to replace income and cover normal family living expenses when a parent or other breadwinner dies. family.
When funeral insurance is often purchased in amounts of $250,000, $500,000, $1 million or more, burial insurance generally comes in amounts of up to $25,000. As a result, final expense insurance policies are generally less expensive.
And since burial insurance lasts a lifetime and never expires, this type of coverage can give you considerable peace of mind.
What Does Burial Insurance Typically Include?
That means the money will go to a traditional burial with a vault and cemetery, cremation, or alternative services.
Burial insurance proceeds can also be used to cover medical bills or end-of-burial open care, credit card bills, and various accumulated debts at someone’s end of life.
Please note that if you want to make sure that your burial insurance proceeds are used for the type of service you want. You can make an appointment with a funeral home in your area without paying upfront for your services.
During one of these meetings, you will sit down with a director or funeral representative who will speak and record your final wishes. At that time, her final wishes will remain in the funeral home until she passes away. You can also make a copy for your records or for family members to keep on file.
Can Burial Insurance Be Denied?
Burial insurance is generally a “guaranteed problem”, which means that you cannot be denied coverage or your policy can be canceled for medical reasons.
As long as the final expense insurance policies is paid every month until you reach the age when your insurer no longer requires you to pay premiums, your senior open care policy will remain in effect for the rest of your life.
To ensure you end up with burial insurance that never expires, you should ask your insurer or check the terms and conditions of the policy. Many companies also have a frequently asked questions (FAQ) section or page with questions like, “Will my burial insurance expire?”
Why Choose AARP Life Insurance?
AARP life insurance provides seniors with a number of end-of-life life insurance policies to choose from, including: term life insurance, permanent life insurance, and comprehensive guaranteed insurance.
Some of the benefits and requirements of AARP life insurance include:
- The holder of the aspiring policy must be between 25 and 85 years old.
- Flexible coverage plans that start at $ 3,000 and go up to $ 50,000
- No medical exam is required to qualify
- Accidental Death Benefit
- Premiums are guaranteed not to change due to health
- Designed to cover your funeral and burial expenses
It is always a good idea to compare AARP life insurance quotes with other top rated life insurance companies. We have many options on our website with the help of our life insurance calculators.
Cheap Term Life Insurance
This affordable life insurance policy provides protection for people between 50 and 74 years of age. In this policy, future policyholders are not required to undergo a medical examination;
This form of life insurance coverage grants policyholders up to $ 100,000 of term life insurance. For those looking for a low monthly life insurance payment.
Cheap term life insurance may be the right option. As long as you make your monthly insurance payments on time, your policy will remain active until your death, or until the age of 80.
However, it is very important to know that this type of affordable final expense insurance policies does not guarantee the level of premiums, and your monthly payment will increase every 5 years.
This is one of the disadvantages of buying a group life insurance policy. For all these reasons, we do not recommend this type of insurance to cover final expenses. See the AARP Term Life Insurance Rate Guide for more details.
Top Permanent Life Insurance
Senior burial insurance is a permanent life insurance policy available to AARP members between 50 and 80 years of age. To qualify for coverage, you only need to answer 3 health questions on the application.
This type of full life insurance is a convenient way to help surviving family members cover medical costs and pay for funeral expenses. Additionally, the accumulated cash value of this type of policy can be used to cover overdue or emergency life insurance payments.
However, please note that an AARP (permanent life insurance) final expense insurance policies does not guarantee tier premiums and your monthly cost may increase in the near future.
Final Expense Insurance Plans
In addition, for the first two years, New York Life reserves the right to cancel your permanent policy. If your request contains inaccurate information about your medical history.
That is why it is so important to do a little research and select the right final expense insurance plan that meets your needs and affordability.
- Top Ten Burial & Final Expense Insurance Policies Review.