Affordable Burial Insurance Under 50 - Guaranteed Issue, No Exams or Health Questions!
Burial insurance, often referred to as final expense insurance, is a type of life insurance intended to cover end-of-life expenses.
While traditional life insurance may be difficult to obtain or expensive for those with minor health conditions, burial insurance is generally a more cost-effective and accessible solution.
For individuals under the age of 50, securing burial insurance early can come with significant benefits, including lower premiums and peace of mind knowing that financial burdens won't fall on loved ones.
Guide to Buying Burial Insurance Under Age 50
Quick Review
Burial insurance for individuals under 50 is a type of life insurance policy designed to cover funeral and burial expenses, ensuring that these costs do not become a financial burden on loved ones.
These policies typically offer smaller coverage amounts compared to traditional life insurance, as they are specifically intended to cover end-of-life expenses.
Premiums for burial insurance are generally affordable, making it an accessible option for younger individuals who want to plan ahead and secure peace of mind for their families.
Burial and Related Costs
The costs associated with burial insurance can vary based on factors such as age, health status, and the desired coverage amount. For individuals under 50, policies typically range from $5,000 to $25,000, with premiums generally lower than those for older age groups.
According to the National Funeral Directors Association, the average cost of a funeral in the U.S. was about $8,592 in 2024 but can exceed $15,000 depending on personal preferences and local services. Thus, having burial insurance can help cover these unexpected costs.
Selecting a Burial Life Insurance Policy
When it comes to selecting a burial insurance policy for those under 50, policy details and provider options are critical. Companies like Allstate Benefits and Mutual of Omaha offer specialized policies tailored for younger individuals.
- Allstate Benefits Insurance Company provides coverage for individuals aged 18 to 70 with no waiting period for benefits, allowing for immediate coverage. They offer up to $75,000 in coverage with options to include a spouse and children. Get a FREE Quote.
- Mutual of Omaha targets individuals aged 45 to 85 and offers up to $25,000 in coverage. Their policies include a 30-day free look period, allowing policyholders to review terms and cancel if they're unsatisfied. Mutual of Omaha is known for fixed premiums, ensuring that payments remain consistent over time, and permanent lifetime protection, meaning the policy doesn't expire as long as premiums are paid. Get a FREE Quote.
Top Burial Life Insurance Companies
When selecting burial 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
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
Planning for Burial and Final Expenses
Planning for end-of-life expenses is a prudent move that many individuals under 50 are beginning to appreciate. By securing burial insurance, they can lock in lower rates and ensure financial security for their families.
The process of purchasing burial insurance is straightforward and typically doesn't require a medical exam, making it accessible even to those with minor health conditions.
Average Funeral and Burial Cost in the U.S.A.
On average, burial expenses in the U.S. can be financially overwhelming, which is why planning ahead is vital.
Typical costs include the funeral service itself, casket or urn purchases, burial plots, headstones, flowers, and death certificates.
These costs add up quickly, highlighting the value of having an insurance policy to buffer financial impact.
As you assess the costs, it's valuable to consider the average funeral and burial expenses in the U.S.A., which sit around $8,592.
These figures help underline the adequacy of coverage amounts typically offered by guaranteed acceptance life insurance policies.
Cost of Burial Life Insurance
Cost is always a significant consideration. 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 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 45:
Allstate Benefits:
- Male: Approximately $21.68/month for $10,000 coverage.
- Female: Around $21.68/month for $10,000 coverage.
- Get a FREE Quote
Mutual of Omaha:
- Male: Close to $36.40/month for $10,000 coverage.
- Female: About $27.90/month for $10,000 coverage.
- Get a FREE Quote
Reasons to Buy Burial Insurance
Common reasons for buying burial insurance include:
- Protecting family from sudden financial burdens
- Lacking significant savings or existing life insurance
- Coverage in case of job loss or lack of employer-provided insurance
- Avoiding complex medical underwriting
Real-Life Examples of Buying Burial Insurance
- To illustrate, consider the story of Lisa, a 42-year-old single mother with two children. Although healthy, Lisa wanted a straightforward insurance solution to ensure her children's future financial security. She opted for a $20,000 burial insurance policy from Allstate Benefits, benefiting from affordable monthly premiums and peace of mind.
- Then there's Paul, a 49-year-old construction worker with a family history of heart conditions. Paul, aware of the higher risks associated with his job and health, chose Mutual of Omaha. His policy provides lifetime protection and a fixed premium, which he found compelling for his situation.
- Finally, Sarah, a 37-year-old freelance artist, found herself without employer-provided insurance. After her father's passing highlighted the need for end-of-life planning, Sarah secured a $10,000 policy, appreciating the cost-effectiveness and no medical exam requirement.
Eligibility Requirements
For those under 50, evaluating eligibility for burial insurance is relatively straightforward.
- Allstate Benefits generally looks for no health disclosures, focusing instead on providing quick and comprehensive coverage for people ages 18-70.
- Mutual of Omaha offers options like simplified issue policies that require no health questions for fast application processing and coverage for people ages 45-85.
How to Buy Burial Insurance
If you're considering purchasing burial insurance, here are the steps involved:
- Assess your insurance needs and budget.
- Research and evaluate different providers and policy options.
- Compare rates and coverage options.
- Select a provider and policy that best fits your needs.
- Fill out an application form.
- Wait for policy approval and receive your documents.
- Begin paying premiums to activate your coverage.
Important Factors to Consider
Age, health, and financial considerations play into the decision-making process. While some might be attracted to term life insurance alternatives for lower premiums, burial insurance's simple application and approval process often outweigh these options for those under 50.
Is Burial Life Insurance Right for You?
Individuals must assess if burial life insurance is the right fit, considering factors like current health, financial goals, and potential future needs.
Those valuing quick coverage with no medical exams and who desire to protect their family from funeral expenses often find burial insurance advantageous.
Realizing the importance of these factors can help in making an informed decision. For instance, burial insurance's fixed premiums mean you'll never face unexpected rate hikes, and its simple underwriting appeals to those tired of complex processes.
Consider Cost vs. Benefit
With insurers like Allstate Benefits and Mutual of Omaha, individuals can find tailored solutions that align with their end-of-life planning goals. This ensures a balance between high-quality coverage and budget-friendly pricing.
Summary
Ultimately, securing burial insurance under 50 can be a wise move. It not only provides financial peace to your loved ones but ensures your end-of-life wishes are respected without financial compromise. Consider requesting free quotes to evaluate your options further and solidify your final expense planning today.
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.
- Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee
Life Insurance for Burial Expenses
Disclosure: Compensated Affiliate