2021 Surprise Alert: Burial Insurance for Seniors over 60 (truth)
Think you will live forever? There is no need to consider getting Burial Insurance at 60 because you are almost in Medicare and will have really good health care?
Guess again …
In the United States, you have to realize that you and your family are one wrong move away from financial disaster. You die at 60 or over, something has to be done with you, and it has to be done fast, and that’s where burial insurance comes in.
Why Should You Buy Burial Insurance for Seniors Over 60?
Even if folks know they need coverage, they don’t trust the insurance carriers.
But, the people not to trust are the folks who your loved ones will pay to either cremate you or bury you. The costs are an outrage. But we can complain about it all we want and NOTHING will change.
The bad thing is a lot of folks put the costs on a credit card. It’s bad because the interest rates are another outrage. Your funeral could end up costing 2 or 3 times the already outrageous rates the funeral directors charge when you consider that card’s interest.
You may have other life insurance policies, but they are meant to offset expenses like providing the survivors and paying off your mortgages. Having separate burial insurance for seniors over 60 is a wise decision and smart planning.
A small monthly payment could fix all of this with a little bit of foresight.
This is why so many folks are getting involved with cremation and burial insurance. They do not want to burden their loved ones. They know they will die, and they know their spouse or kids putting the funeral on a credit card, is not a good option.
Is Burial Insurance Expensive At 60?
Many people believe that burial insurance for seniors 60 and over is way too expensive. Well, it can’t be far from the truth than this. Unlike what you may hear, burial insurance will not cost you hundreds of dollars per month.
The thing is that you will get better prices if you buy it sooner. Waiting too long will unnecessarily shoot up the insurance costs.
What Are the Types of Life Insurance for Seniors Over 60?
As you progress to 60, you will get several choices for life insurance. They include:
Term Insurance
Being a temporary type of insurance, it lasts for a specific period. Term insurance is mostly preferred due to sizeable death benefits available at affordable premiums. However, if you outlive your policy, you may have to buy a new one at a much higher price due to your age.
Survivorship Insurance
If you want to take a policy with your partner or spouse, this is it. Survivorship life insurance offers death benefits to the surviving partner when one of the two persons dies. You can leverage your money for a larger sum with this policy.
No Exam Life Insurance
As the fastest insurance in the market, it offers instant coverage without any medical exams. The premium may be slightly higher, and you may have to wait for a while to get the coverage, though.
Guaranteed Issue Policy
A guaranteed universal life insurance policy is popular burial insurance for seniors over 60. It works as permanent life insurance with consistent premiums throughout the term. As long as you pay your premium instalments on time, you will be covered by this policy.
How Can Life Insurance Help Seniors Over 60?
There may be many reasons for you to buy life insurance as you turn 60. Some of them are:
Smart Estate Planning
If you want to add more liquidity to your estate having business or property holding, life insurance can help pay its taxes.
Replacing the Income
Term Insurance can also serve as an excellent income replacement if you are still working and worried about living your family without death benefits.
Paying Off the Loans
If you have some outstanding mortgage or debts, your life insurance policy can cover these obligations without burdening your family with additional financial expenses upon your death.
Creates Inheritance
With life insurance, you can leave behind a respectable fund for your family, irrespective of your age, when you pass away.
Social Security Benefits
If you are unsure about availing of social security benefits at the full retirement age of 67, you may need insurance coverage to maintain your lifestyle despite getting a fixed income.
How Can You Buy the Best Burial Insurance at 60?
If you want to buy burial insurance for seniors over 60, it is better to do more research and not wait for too long. The longer you resist this decision, the higher your premiums will be. Sometimes, the prices may change drastically from one year to another. The best bet is to work with independent agents like us.
We at Insurance for Final Expense have years of knowledge in this industry. Hence, we will offer you the best advice to choose burial insurance over 60. Since we know the ins and outs of different carriers and their products, we can help you find the most reasonably priced plan. Remember, there are multiple companies with slick advertising and lots of claims out there. The process of selecting the best can be overwhelming at the least.
Sample Insurance Rates for 60-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Female No Waiting Period | $18.04 | $32.87 | $47.70 | $62.53 |
| Female Tobacco No Waiting Period | $23.94 | $44.67 | $65.40 | $86.13 |
| Female Guaranteed Acceptance | $23.57 | $45.14 | $66.70 | $88.27 |
| Male No Waiting Period | $22.98 | $42.76 | $62.53 | $82.31 |
| Male Tobacco No Waiting Period | $31.11 | $59.02 | $86.92 | $114.83 |
| Male Guaranteed Acceptance | $28.78 | $56.65 | $84.52 | $112.38 |
Sample Burial Insurance Rates for 61-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Female No Waiting Period | $18.86 | $34.51 | $50.17 | $65.82 |
| Female Tobacco No Waiting Period | $25.08 | $46.96 | $68.83 | $90.71 |
| Female Guaranteed Acceptance | $24.26 | $46.52 | $68.78 | $91.04 |
| Male No Waiting Period | $24.29 | $45.38 | $66.47 | $87.56 |
| Male Tobacco No Waiting Period | $33.09 | $62.97 | $92.85 | $122.73 |
| Male Guaranteed Acceptance | $29.79 | $58.67 | $87.54 | $116.42 |
Sample Funeral Insurance Rates for 62-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Female No Waiting Period | $19.63 | $36.06 | $52.49 | $68.92 |
| Female Tobacco No Waiting Period | $26.22 | $49.24 | $72.26 | $95.28 |
| Female Guaranteed Acceptance | $25.05 | $48.09 | $71.13 | $94.18 |
| Male No Waiting Period | $25.55 | $47.90 | $70.25 | $92.60 |
| Male Tobacco No Waiting Period | $35.11 | $67.03 | $98.94 | $130.85 |
| Male Guaranteed Acceptance | $30.85 | $60.78 | $90.70 | $120.63 |
Sample Final Expense Rates for 63-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Non Tobacco User- Female | $21.00 | $39.00 | $58.00 | $76.00 |
| Tobacco User- Female | $30.00 | $57.00 | $86.00 | $114.00 |
| Non Tobacco User- Male | $27.00 | $51.00 | $75.00 | $99.00 |
| Tobacco User- Male | $39.00 | $75.00 | $112.00 | $148.00 |
Sample Burial Insurance Rates for 64-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Non Tobacco User- Female | $22.00 | $41.00 | $60.00 | $79.00 |
| Tobacco User- Female | $31.00 | $61.00 | $89.00 | $119.00 |
| Non Tobacco User- Male | $28.00 | $53.00 | $78.00 | $104.00 |
| Tobacco User- Male | $41.00 | $79.00 | $118.00 | $156.00 |
Sample Life Insurance Quotes for 65-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Non Tobacco User- Female | $22.00 | $42.00 | $62.00 | $82.00 |
| Tobacco User- Female | $32.00 | $62.00 | $93.00 | $123.00 |
| Non Tobacco User- Male | $29.00 | $55.00 | $82.00 | $108.00 |
| Tobacco User- Male | $43.00 | $82.00 | $122.00 | $163.00 |
Sample Burial Insurance Rates for 66-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Non Tobacco User- Female | $24.00 | $44.00 | $65.00 | $86.00 |
| Tobacco User- Female | $34.00 | $64.00 | $96.00 | $128.00 |
| Non Tobacco User- Male | $31.00 | $59.00 | $86.00 | $115.00 |
| Tobacco User- Male | $45.00 | $87.00 | $130.00 | $173.00 |
Sample Burial Insurance Rates for 67-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Non Tobacco User- Female | $25 .00 | $47.00 | &69.00 | $90.00 |
| Tobacco User- Female | $35.00 | $68.00 | $101.00 | $133.00 |
| Non Tobacco User- Male | $32.00 | $62.00 | $92.00 | $122.00 |
| Tobacco User- Male | $46.00 | $92.00 | $137.00 | $181.00 |
Sample Burial Insurance Rates for 68-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Non Tobacco User- Female | $26.00 | $49.00 | $72.00 | $95.00 |
| Tobacco User- Female | $36.00 | $69.00 | $102.00 | $136.00 |
| Non Tobacco User- Male | $34.00 | $66.00 | $97.00 | $128.00 |
| Tobacco User- Male | $49.00 | $96.00 | $142.00 | $194.00 |
Sample Burial Insurance Rates for 69-Year-Olds
| GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
| Non Tobacco User- Female | $27.00 | $51.00 | $75.00 | $99.00 |
| Tobacco User- Female | $37.00 | $70.00 | $104.00 | $140.00 |
| Non Tobacco User- Male | $36.00 | $69.00 | $102.00 | $135.00 |
| Tobacco User- Male | $50.00 | $101.00 | $151.00 | $201.00 |
But having Final Expense Burial coverage in place ends all of these worries.
Final Expense Coverage is needed unless you are WEALTHY. Bill Gates of Microsoft does not need this. Jeff Bezos of Amazon does not need this. But at 60 years old, Burial Insurance IS important to you!
With us, it becomes easier, though. Just fill out the quote calculator on the right, and you will see just how affordable coverage can be.
Gary P. Cubeta
1-800-400-8319
Insuranceforfinalexpense.com
(Serving Americans In All 50 States)
5 Comments
Christina Sarah Parker
I have been wanting to get insurance for me and my loved one but since Covid its been hard finding a price that works for me. Is there any possible way I can lower the price for my coverage? I am 68 and my husband is 73. Thanks 🙂
Gary P. Cubeta
Covid has been difficult for everyone. So much pain in this country. Give us a call at our 1-800 number and we will see what is available for you at a lower monthly payment. There are options.
Noah Jones
Terrific article man! 👍
Yurgen I
my wife and I need insurance ASAP
Joanne
Very interested