A popular whole life insurance policy for seniors is final expense insurance which almost always allows for instant approval. This type of insurance policy is also commonly referred to as “burial insurance” or “funeral insurance.”
We understand how overwhelming it can be to get adequate coverage. That’s why we can help you look into this policy with a $2,000 – $50,000 death benefit, so you don’t have to choose between affordability and the comfort of your loved ones.
The death benefit can be used to cover any funeral or medical costs, but your beneficiaries can use this benefit for other purposes as well.
Generally, final expense insurance has the following features:
A Final Expense Insurance policy can cost $30 to $70 on average, depending on your health, sex, age, coverage amount, and insurance provider. This premium can be higher with rates between $70 and $120 monthly if you are above 70 years old or have many health conditions.
On the other hand, younger applicants with good health can fall in the $20 to $50 price range.
While cost is an essential factor when selecting an insurance policy, don’t let it take precedence. Consider the expenses your family will have to cover after you are gone. Some of these include: