Guaranteed Burial Insurance Over 50 – No Exam, No Health Questions, Approved 45-85!

When you’re over 50, planning for the future becomes more pivotal, particularly when considering end-of-life expenses.

If you've ever witnessed the financial impact a funeral can have on a family, you know how crucial it is to explore burial insurance.

But what exactly is "Burial Insurance Over 50"?

At its heart, this type of insurance is a small whole life policy, intended specifically to cover your burial and funeral costs. It’s designed to provide peace of mind and financial relief for your family, shielding them from hefty expenses during an emotional time.

Guide to Buying Burial Insurance Over Age 50

Quick Review

Burial insurance for individuals over 50 is a type of whole life insurance policy designed to cover end-of-life expenses, such as funeral and burial costs.

These policies typically offer smaller coverage amounts compared to traditional life insurance, making them more affordable for seniors.

They often require no medical exam, making them accessible to those with health issues.

Premiums are generally fixed, and the policy remains in effect as long as premiums are paid, providing peace of mind to policyholders and their families.

Understanding Burial Life Insurance

Imagine a simple policy that doesn’t require a medical exam and guarantees acceptance—that’s the premise of many burial insurance plans, especially ones tailored for those over 50.

Essentially, burial insurance operates as final expense life insurance, granting a payout to cover the cost of your funeral, burial, and sometimes outstanding debts.

These policies often come with face values ranging from $5,000 to $25,000, enough to manage these end-of-life costs.

Features of Burial Life Insurance

Let's break down some standout features of burial insurance for those over 50:

• No Medical Exam Required: Perfect for those with pre-existing health issues.
• Fixed Premiums: Once locked in, your rates never increase, no matter your age.
• Lifetime Coverage: Coverage lasts a lifetime, as long as you pay your premiums.
• Guaranteed Acceptance: If you fall within the age requirement, acceptance is typically assured.

Average Cost of Burial and Funeral Expenses

Planning for end-of-life expenses requires a handle on the average costs in the USA. According to the Funeral Directors Association, the typical burial and funeral costs are around $8,592.

These expenses can swell beyond just the burial service to include a memorial, casket, and cemetery fees. Burial insurance aims to cover these anticipated costs, absolving your family from immediate financial burdens.

Top Burial Life Insurance Companies

When selecting burial expense life insurance, comparing providers is crucial. Two significant players in the field are Allstate Benefits Insurance Company and Mutual of Omaha.

When comparing Allstate Benefits and Mutual of Omaha, it's essential to consider both the features and limitations of each.

Allstate offers higher coverage amounts and no waiting periods, which could be beneficial for those who want immediate assurance. Both offer level premiums and coverage, but consider the maximum coverage, waiting period options, and additional benefits when choosing.

Recent A.M. Best ratings highlight the financial strength of both companies, with Mutual of Omaha and Allstate Benefits both holding an "A+" rating, confirming their stability and reliability for policyholders.

Features of Allstate Benefits vs. Mutual of Omaha

Let's break down the features of Allstate Benefits vs. Mutual of Omaha for guaranteed acceptance coverage.

Allstate Benefits Insurance Company

• Guaranteed Acceptance: Ages 18-70
• Coverage Amount: $10,000 up $75,000
• Available in every state and DC (except NY)
• No Medical Exam Required
• No Health Questions Asked
• No Waiting Period
• No 2 Year Graded Death Benefit
• Policy builds cash value, loan available
• Lifetime protection
• Premiums never increases, coverage never decreases

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NOTE: To qualify, applicants must be working at least 20 hours per week and not collecting any form of disability income or SSDI.

The policy goes In Force on the first day of the month after it's purchased.For example, if the policy was purchased during the month of January, it would be active February 1st.

Mutual of Omaha

• Guaranteed Acceptance: Ages 45-85 (50-75 in NY)
• Coverage Amount: $2,000 up to $25,000
• Two year waiting period limited death benefit
• No physical exam
• No health questions asked
• 30 day money-back guarantee
• Policy builds cash value, loan available
• Lifetime protection
• Premiums never increase, coverage never decreases

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Cost of Burial Life Insurance

Understanding costs is essential when selecting burial insurance. Let’s examine the pricing differences between Allstate Benefits and Mutual of Omaha for 55-year-old male and female non-smokers seeking $10,000 coverage.

Allstate Benefits generally offers competitive prices, but Mutual of Omaha might edge out with slightly lower monthly premiums for females in this instance.

Such comparisons are crucial as they help you select the plan that best aligns with your financial situation.

These rates are subject to change based on various factors such as health status and benefit exclusions. However, once you start your coverage, the rate you pay is locked-in (will never increase).

The pricing of guaranteed issue burial life insurance is determined by several factors including age, gender, health condition, and the amount of coverage desired.

Common premium payment options include monthly, quarterly, or annual payments, making it flexible for your budget.

Sample Premiums

Here's a comparison of monthly premiums for $10,000 coverage for non-smokers age 55:

Allstate Benefits:

• Male: Approximately $38.36/month for $10,000 coverage.
• Female: Around $38.36/month for $10,000 coverage.
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Mutual of Omaha:

• Male: Close to $45.40/month for $10,000 coverage.
• Female: About $37.50/month for $10,000 coverage.
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Average Cost of Burial Final Expenses in the USA

Basic Services:                            $2,135

Transfer to Funeral Home:            $373

Embalming:                                 $763

Dressing and Casketing:               $264

Viewing:                                      $463

Ceremony:                                   $548

Hearse:                                        $354

Utility Vehicle:                              $190

Median-Priced Casket:                  $3,500

Total Cost:                                 $8,592

Eligibility Requirements for Burial Insurance

For those seeking over 50 burial insurance knowing eligibility criteria is crucial:

• Age: Most policies are available to those aged 50 to 85.
• Citizenship: You must be a U.S. citizen or permanent resident.
• Payment Ability: Must demonstrate the ability to pay consistent premiums.
• Health: Some policies require health questions, though guaranteed issue plans don’t.

Is Burial Life Insurance Right for You?

So, is burial insurance right for you? It largely depends on your personal circumstances.

If you’re keen to shield your loved ones from financial strain or lack sufficient savings to cover your funeral, this could be a sound investment.

Its appeal lies in its simplicity and accessibility, especially for those with health concerns.

How to Buy Burial Life Insurance

Thinking of purchasing burial insurance? Here’s a quick step-by-step guide:

• Research: Investigate different plans and providers.
• Compare Quotes: Obtain quotes from multiple companies.
• Evaluate Needs: Decide on the coverage amount based on your needs.
• Apply: Choose a policy and complete the application process.
• Finalize: Pay the initial premium to set the coverage in motion.

When comparing providers, people often consider reputable names like Allstate Benefits and Mutual of Omaha. Both companies are stalwarts in the industry.

Mutual of Omaha, for instance, offers coverage up to $25,000 and includes a 30-day free look period. Allstate, on the other hand, may cover up to $75,000 with potential coverage for your spouse and children.

Each provider has unique features, so it’s important to assess what best fits your needs.

Quick Approval and Fixed Rates

People seeking affordable burial insurance for over 50 often want features like quick approval and fixed premiums.

Standing on a fixed income, perhaps from Social Security or retirement accounts, having a reliable and manageable payment schedule is crucial.

Not Burden Family with Cost of Final Expenses

The heart of choosing the right burial insurance lies in understanding its role.

Funeral costs can quickly balloon, and having a plan in place ensures these expenses don’t fall to those you leave behind. For middle to lower-income individuals, this consideration can alleviate significant concern.

Real-Life Examples of Burial Insurance Over Age 50

Did you know funeral costs average over $7,500? For those over 50, burial insurance offers peace of mind—ensuring your family isn’t burdened by unexpected expenses.

Here’s how it helped three people just like you:

1. Linda, 58 – Protecting Her Family: After her husband passed, Linda worried about leaving her kids with funeral bills. She bought a $10,000 burial policy for $40/month. Now, her family won’t face financial stress during an already difficult time.
2. James, 62 – No Medical Exam Needed: With diabetes, James thought insurance was out of reach. But burial insurance required no medical exam. He locked in a $8,000 policy for $42/month—guaranteeing coverage despite his health.
3. Maria, 55 – Fixed Rates for Life: Maria wanted predictable costs. Her burial insurance policy’s premiums never increase, and the $12,000 benefit ensures her grandchildren won’t pay a dime.

Safe and Secure Coverage

For those wary of scams or misinformation, sticking with reputable providers like Allstate Benefits and Mutual of Omaha is advisable.

These companies adhere to regulatory standards and offer transparency in their policies, which is crucial when dealing with emotional and financial decisions.

Cover Your Final Expenses

Remember that your final expenses extend beyond just the burial. Planning can cover unpaid medical bills or other debts, further reducing the financial strain on your heirs.

Creating a legacy can start with responsible end-of-life planning, where burial insurance plays a critical role.

Summary

In conclusion, Burial Insurance Over 50 isn't merely about covering costs; it’s about preserving dignity and legacy.

It ensures your end-of-life wishes are honored while liberating your loved ones from financial pressures. With insights into coverage options, costs, and eligibility, you’re well-equipped to make an informed decision, embracing the peace of mind that thoughtful planning affords.

For those beginning their journey into burial insurance options, seeking a free quote is an good first step. This estimate can shed light on the actual costs, aligning you with a policy that’s both effective and economically feasible.

Guaranteed Issue Burial Life Insurance Quotes

Top Pick – Allstate Benefits Insurance Company

Allstate Benefit's Guaranteed Acceptance policy offers $10,000 to $75,000 of coverage to working applicants between the ages of 18 and 70. Rates start as low as $9.65 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply today. Start Here to get a FREE Quote.

NOTE: To qualify, applicants must be working at least 20 hours per week and not collecting any form of disability income or SSDI.

Highly Recommended – Mutual of Omaha

Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. START HERE to get a FREE Quote.

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