Cheap Burial Insurance for Seniors
Get Peace of Mind with Affordable Burial Insurance for Seniors
Are You Shopping for a Cheap Burial Insurance Policy?
The rising cost of burial and funeral services can create a significant financial strain for families who are already coping with the emotional loss of a loved one.
A cheap burial insurance plan can ease this financial burden and make sure that your loved one is taken care of even if you are on a budget. It guarantees peace of mind and secures the future of your family.
By finding affordable burial insurance plans for seniors, families can ensure that their loved one gets a dignified funeral with enough funds to cover all the associated costs.
This type of policy is an invaluable tool for those who are on a budget and don't have the financial resources to deal with the full cost of a funeral. It also ensures that your loved one will be taken care of and that you won't end up with a lingering debt.
Burial insurance policies for seniors can also be a great way to pre-plan for funeral expenses and costs associated with end of life care. This can provide much-needed financial relief for families and help them stay within their budget.
By planning ahead, families can have peace of mind knowing that their loved one will be taken care of while they honor their memory with a dignified, respectful funeral.
What is the Cheapest Burial Insurance Policy for Senior Citizens?
The cheapest burial insurance policy for senior citizens depends on your age, health, type of policy, and other factors.
Several insurance companies offer burial insurance policies for senior citizens at competitive rates. Shop around for the best policy for you.
Mutual of Omaha guaranteed issue burial life insurance plans offer coverage starting for as low as $8.84 per month.
Top Pick – 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
What is Burial Insurance?
Burial insurance, or "final expense" insurance, is an affordable type of insurance that provides a lump sum payment to cover funeral costs, burial costs, and other end-of-life costs. It is primarily purchased by senior citizens who want to make sure their families do not bear the burden of their funeral and burial expenses.
Companies that offer burial insurance typically have much simpler application processes making it an easier option for seniors to get insured.
How Burial Insurance Works
Burial insurance is a type of life insurance policy that pays a death benefit upon the death of the policyholder. The policyholder chooses the death benefit amount, typically up to $25,000, and pays a monthly premium based on the amount of coverage selected.
In order for the policy to remain in effect and pay out the death benefit, the policyholder must make the required monthly premium payments. In the event of the policyholder’s death, the death benefit is paid out to the beneficiary, usually the policyholder’s family or estate, to cover the costs of their funeral and burial expenses.
Finding Cheap Burial Insurance for Senior Citizens
- Research Burial Insurance Companies. Before choosing a burial insurance policy for your senior loved one, it is important to compare several companies and policies to ensure you are getting the best coverage at the best price. Do a Google search for “burial insurance companies” or “final expense insurance companies” to get a list of companies that offer burial insurance policies. Once you have identified several potential companies, use online reviews and comparison websites to compare coverage and cost of each policy to make an informed decision.
- Determine What Kind of Policy You Need. Depending on your senior loved one’s health and age, they may qualify for different types of burial policies. For example, if they have a pre-existing health condition they may qualify for a guaranteed issue burial policy, which does not require a medical exam. Conversely, if they are in good health they may qualify for a lower-cost whole life or term life policy. Working with an insurance agent can help you determine the best type of policy for your needs.
- Ask About Discounts. Many burial insurance companies offer discounts to entice seniors to purchase their policy. Ask your agent about any discounts or promotional offers that are available, as this could end up saving you money on the total cost of the policy.
- Research Policy Riders. Many burial insurance policies come with optional riders that provide additional coverage such as long-term care or disability, but they may increase the cost of the policy. Work with your insurance agent to determine which riders, if any, are necessary to ensure your senior loved one’s policy is properly tailored to their needs.
- Shop Around. It is important to shop around and compare policies before committing to buy a burial insurance policy for your senior loved one. This way, you can ensure you are getting the best coverage at the most affordable rate.
10 Reasons Seniors Should Buy Cheap Burial Insurance
- Affordable Coverage with no medical exam and no health questions.
- Cash Benefits that can help cover funeral and burial expenses.
- Flexible Coverage options, including different ways to pay premiums.
- No Expiration of Policies – lifetime protection.
- Guaranteed Acceptance for ages 45 to 85 (50-75 in NY).
- Easy to Set Up with no waiting period and no paperwork.
- No Stress of dealing with life insurance companies and agents.
- Premiums are paid in installments rather than a lump sum.
- Tax-free Death Benefits for your loved ones.
- Peace of Mind knowing your expenses won't burden your loved ones.
How Can I Get the Cheapest Burial Life Insurance Policy?
The best way to get the cheapest burial expense life insurance policy is to shop around and compare policy prices from multiple insurance providers. Look for policies with a level-premium structure and other features that can reduce the cost.
Consider comparing quotes from no-exam insurers, who may offer lower rates than their fully underwritten counterparts. Lastly, consider short-term policies, which generally have the lowest premiums but shorter life expectancies.
Summary
Finding cheap burial insurance for senior citizens doesn’t have to be a challenge. With the right amount of research and preparation, you can find the perfect policy to meet the needs of your senior loved one at a cost they can afford.
Make sure to look at the coverage, the company's financial standing, and customer reviews. When selecting a policy, ask about discounts for enrolling in an automatic payment plan.
Also, consider the payment frequency of the premiums; some companies offer lower rates if the premiums are paid annually.
Compare Burial Insurance Quotes
Top Pick – 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
Highly Recommended – Gerber Life
Gerber Life offers guaranteed acceptance whole life insurance for people age 50 to 80. Choose from $3,000 up to $25,000 of coverage. Rates start as low as $17.69 per month. There’s no medical exam and no health questions asked. You cannot be turned down. START HERE to get a FREE Quote.
Resources:
- Can You Buy Burial Insurance on Someone Else?
- Can You Buy Burial Insurance for Your Mother?
- Can I Buy Life Insurance on My Dad?
- Can I Buy Burial Insurance for My Grandmother?
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Disclosure: Compensated Affiliate