So here you are at 73 years old. You have led a great life. Relationships, maybe marriage, children and grand kids. The last thing you want to think about is dying and leaving that all behind. The thought of your loved ones looking at your casket or urn with tears in their eyes is unimaginable. But you know, the day will come when they will. Maybe it’s time to seriously consider Final Expense, or Burial Insurance. There seem to be so many companies advertising on TV these days, Globe Life Insurance, Colonial Penn, Liberty… At 73 years old, you start to think you should be taking this seriously.
Where to Start? Is Globe Burial Insurance a Good Choice at 73?
The burial insurance rates for companies like Globe seem outrageous for a 73 year old. There is a reason why. They only represent one company’s policy… their own. Now, don’t get us wrong. Globe Life Insurance is a great company with excellent ratings.
But the last thing you want to do is to burden your loved ones with the out-of-control burial or cremation costs that your family will have to deal with. We have discussed this in previous articles. The funeral homes’ costs are obnoxious.
Perhaps you don’t have enough saved in your retirement to do the planning yourself. And your kids with young families of their own are struggling to make end’s meet. The last thing you want is for your grandchildren’s college funds to be drained to cover your burial.
Why Did I Wait so Long to Get Burial Insurance?
I Should Just Pick up the Phone and Call a Company with Brand Name Recognition Globe Life Burial Insurance at 73 … NO! STOP!
You have much better options with an independent agency that has long standing relationships with multiple carriers and represents YOU, getting you the absolutely best burial insurance coverage available at reasonable rates.
Here is the Deal… Globe Life Insurance represents themselves and you get the short end of the stick when you work with a company like them. But they are offering $1 for $50,000 in insurance! How can you beat that? Better read the fine print… That $1 only covers the first month. Then the rate jumps to $280.54 per month for a 73 year old male.
(Note: The above image is from Globe Life’s website. Highlighted areas are added simply to show this example. This quote was taken on 2/6/2020)
Totally outside of the budget. And you feel like a $10,000 policy will be plenty. A 73 non-smoking male wants to get a $10,000 policy with Globe Life, he will pay $1 for the first month of coverage. After month one, the cost jumps to a MUCH higher rate per month. It’s creative advertising that brings folks in, but then leaves people saddled with less than affordable rates.That is just our opinion.
And then you start reading the fine print per Globe’s website… “Policy Description: This is a modified premium term-to-age-90 product. The initial term period can either be 1, 2, 3, 4, or 5 years in duration, depending upon issue age. All renewal term periods begin at a 5-year plus one age (i.e. 21, 26, 31, 36 … 86) and will be 5 years in length except for the final term period. The final 4-year period, which will always begin at age 86, will expire and the policy will terminate at the policy anniversary following the insured’s 90th birthday.”
This Means that your Monthly Rates are not Fixed with Globe Life. The Rates Increase Every 5 Years.
Also, guess when your Globe Policy Expires? Age 90 (they cancel your policy at age 90). I don’t know about you, but I would love nothing more than to be featured on TODAY Show Celebrates with my mug on a Smucker’s Jar at 100 or above, just like Bill Hannig of Wheeling, WV below:
In short, with Globe Life Insurance, your policy will terminate when you turn 90. You get nothing. No money back and you can’t buy another policy from them.
You no longer have life insurance protection. Poof, gone.
When you work with a reputable company with no gimmicks, like Insurance for Final Expense, we shop all burial insurance carriers for 73 year olds and people of all ages (unlike companies like Globe Life).
You see, we work with multiple instant approval carriers. When choosing a same day approval life insurance company, you want to make sure it is a guaranteed death benefit that will cover your funeral expense whether you are healthy or have a chronic illness. You also want to know that it doesn’t have an expiration date.
At insurance for Final Expense, it’s our goal to treat everyone with the utmost care and personal service possible. That is just how we operate. We give it to you straight, with no misleading sales tactics. We strive to get you the best rates with only a pool of the most trusted carriers.
All of the burial insurance companies we work with offer same day approval insurance that typically requires no exam and no credit score check, resulting in approval in minutes. We are also able to offer this same day full life insurance with NO 2 YEAR WAITING PERIOD. The carriers we work with do not go up in rate and your policy will never expire.
Let’s Look at Some Sample Life Insurance Rates for 73 Year Olds when You Work with Insurance for Final Expense:
|Non Tobacco Female||$33.57||$63.93||$94.29||$124.65|
|Non Tobacco Male||$45.61||$88.01||$130.42||$172.82|
(Note: these quotes were assessed on 1/23/2020. Rates may change) Please take a moment and check it out yourself with our online quote.
Finding The Best Burial Insurance At 73
Many people who are 73 may be convinced that it’s going to be difficult to find a good final expense insurance policy due to age. But this is a myth.
The truth is you can find a good burial insurance policy at 73. It’s just going to come down to how you go about it.
The independent status of a company like Insurance for Final Expense allows us to shop and compare prices from all the top burial insurance companies in your state and find the one that best meets your needs.
Burial insurance, which is also know as final expense insurance or funeral insurance, offers you the ability to immediately ensure your funeral expenses will be paid for.
You won’t have to worry any longer that your final expenses will become a financial burden on your loved ones. This is the incredible value that burial insurance affords.
Roughly 98% of the clients we work with are searching for a way to ensure their end of life costs will never become a massive bill their family has to pay.
This is where Burial Insurance saves the day.
Even if you have only made one or two payments on your insurance, it still pays out the full amount to ensure your funeral is taken care of (assuming you were approved). Life insurance is simply the only vehicle that accomplish immediate protection like this.
Getting The Best Rates For Final Expense Insurance
The most important thing to consider when purchasing burial insurance coverage is to get your plan from an independent agency that specializes in final expense. While buying from a company Like John Hancock, remember they are only selling their product. We have amazing relationships with multiple carriers, which means that we are able to offer you the most competitive can offer you competition. You aren’t locked into ONE company and their predetermined rates.
As an independent final expense agency, we are able to represent any insurance company we want. This allows us to source the absolute best of the best. Same coverage, much better rates. While they may not run ads on TV like John Hancock and others, they then pass those savings in advertising to YOU!
And we at Insurance for Final Expense work with all carriers, but we prefer the ones who pass the savings onto our customers. Some of our favorite carriers are companies like AIG, Mutual of Omaha, Sentinel Security Life, Prosperity Life Group, Great Western, Liberty Bankers and more…
We Deliver the Best in Comparison Shopping for Final Expense Insurance.
When you work with an independent final expense agency, we compare all of the prices from all of the different companies. Then we simply guide you towards which one offers you the best value.
But, when you work with a non-independent agency, like Globe Life, John Hancock or Colonial Penn, they have no options. They have just one insurance company to choose from. That means that you are getting into a situation where competition. Keep in mind, when multiple companies compete for YOUR business, you always win.
If you need help with final expense insurance, it would be our honor to assist you. Please call us at 1-800-400-8319. If you would rather that we call you, just fill out the quote form on this page and a licensed agent will be in touch with you promptly.
Gary P. Cubeta
(Serving Americans In All 50 States)