Final expense is a very popular type of life insurance for elderly men and women because it is very affordable and premium costs are low, but still covers final expenses like funeral and burial costs.
It's ideal for seniors and eldery parents who do not want to burden their children with their final expenses.
Yes, it is the same.
Final expense insurance is often referred to as funeral insurance or burial insurance because it's designed to pay for funeral , burial, and end of life costs.
Final expense life insurance is a great option for seniors who want an affordable option to cover funeral costs.
Traditional life insurance policies, such as term insurance, are great for younger families who are still working and paying off financial obligations. But once retired, the need for the same level of coverage diminishes.
Funeral costs can be quite high in the United States, with the median cost being over $9,000 according to the National Funeral Directors Association.
This can be a huge financial burden to surviving family members who are already grieving the loss of a loved one.
That's why final expense life insurance is an excellent solution for seniors looking to protect their loved ones from the financial burden of burial or cremation costs.
Parents can be sure that they won't leave a pile of bills to their children to deal with during this difficult time. Final expense life insurance helps provide elderly parents with that assurance to loved ones.
It's easy to qualify for, requiring just a few simple health questions. You don't even need to take a medical exam.
Get your own funeral insurance rates!
Traditional life insurance policies like level term insurance are designed to replace the income lost when the insured family member dies.
These policies are often used when a family is still raising their kids and paying for a mortgage and college loans - this is no longer the case in senior years.
Retirees are most likely free of a mortgage and do not have to pay for college costs and costs associated with raising children. They are more concerned with paying for their funeral and burial costs.
With funerals costing an average of $9,000, you can see why seniors worry about who will pay for it.
Getting a final expense life insurance policy with a small amout won't cost much per month, but will still cover any costs associated with a burial or cremation.
Like they say in real estate - location, location, location, in life insurance buying, it should be: compare, compare, compare.
By comparing quotes from a few different companies, you'll be able to get the best rates for your situation.
Often, premiums vary from company to company, so, compare, compare, compare.
Final expense insurance is very easy to qualify for because it simply relies on a series of health questions, and in most cases you do not need to subject yourself to a medivcal exam.
Insurance companies do not take on a huge risk because the insurance amounts are usually very low.
Get your own final expense insurance rates!
Age | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
65 Year Old Female | $22.11 | $41.32 | $60.45 | $79.61 |
66 Year Old Woman | $23.32 | $43.87 | $64.25 | $84.42 |
67 Year Old Female | $24.43 | $46.32 | $67.86 | $89.35 |
68 Year Old Woman | $25.85 | $48.87 | $71.46 | $94.35 |
69 Year Old Female | $27.01 | $51.32 | $75.36 | $99.30 |
70 Year Old Woman | $28.22 | $53.87 | $79.04 | $104.31 |
71 Year Old Female | $29.85 | $56.86 | $83.43 | $110.28 |
72 Year Old Woman | $30.83 | $59.04 | $86.75 | $114.85 |
73 Year Old Female | $33.38 | $64.19 | $94.60 | $125.13 |
74 Year Old Female | $35.39 | $68.36 | $101.17 | $133.68 |
75 Year Old Female | $37.81 | $73.13 | $108.08 | $143.14 |
76 Year Old Woman | $40.83 | $79.13 | $116.73 | $154.82 |
77 Year Old Female | $43.36 | $84.35 | $124.72 | $165.35 |
78 Year Old Female | $45.82 | $89.32 | $132.37 | $175.31 |
79 Year Old Woman | $48.31 | $94.34 | $139.75 | $185.36 |
80 Year Old Female | $50.82 | $99.31 | $147.45 | $195.60 |
Age | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
65 year old male | $30.14 | $57.04 | $83.74 | $110.85 |
66 year old man | $31.85 | $60.35 | $89.06 | $117.67 |
67 year old male | $33.42 | $63.81 | $94.15 | $124.39 |
68 year old man | $35.37 | $67.41 | $99.65 | $131.87 |
69 year old male | $37.37 | $71.45 | $105.63 |
$139.85 |
70 year old male | $39.29 | $75.36 | $111.31 | $147.39 |
71 year old man | $41.32 | $79.62 | $117.89 | $155.76 |
72 year old male | $44.04 | $84.83 | $125.69 | $166.32 |
73 year old male | $46.80 | $90.36 | $133.72 | $177.39 |
74 year old man | $49.42 | $95.81 | $142.10 | $188.39 |
75 year old male | $52.15 | $100.78 | $149.85 | $198.87 |
76 year old male | $55.67 | $108.11 | $160.44 | $212.78 |
77 year old male | $59.26 | $115.27 | $171.30 | $227.31 |
78 year old man | $63.35 | $123.36 | $183.34 | $243.38 |
79 year old male | $67.02 | $130.82 | $194.61 | $258.39 |
80 year old male | $72.18 | $141.23 | $210.08 | $279.12 |