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Find the Best Burial Insurance for Seniors over 70

Find the Best Burial Insurance for Seniors over 70

Are you looking for cheap burial insurance for seniors over 70? At this age, many seniors don’t have Funeral Insurance in place yet. First off, it’s a scary prospect. Nobody wants to think about their death.

Many 70-year-olds are in great health and will likely live for years down the road. Plus, burial insurance at this age can be incredibly expensive. But trust me, there are cheap funeral insurance options available to folks at age 70.

How Can You Find the Best Burial Insurance for Seniors Over 70?

At 75 or 77, you may feel just as healthy and sprightly as someone half your age. After all, age is just a number.

But we all know that at some point, no matter how inspirational so many seniors are, that one day, we will all die. This is why we at Insurance for Final Expense urge you to protect your loved ones.

Having a Burial Insurance in Place ahead of one’s departure is critical. None of us want to think of our children bickering over expenses and details when we pass. We have discussed this in previous articles. The costs associated with a dignified burial service are obnoxious.

So, at Insurance for Final Expense, we have excellent relationships with the best and most competitive carriers to find the best burial insurance for over 70. We shop for the very best insurance rates and products that best meet YOUR needs.

How Do We Do That?

Best Burial Insurance for Seniors Over 70

Before you decide to buy burial insurance, we help you sift through many options and understand how to find the best policy that actually works for you.

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.

What Makes the Best Burial Insurance Policy?

Once you know that you need burial insurance for seniors over 70, all you have to find is the best policy. When vetting the policies, look for a few distinguishing features like:

  • Choose a life insurance company with stable financials and high ratings.
  • The policy should protect you right from the beginning. When you look at available options, you will find some policies have a two-year waiting period for availing of the death benefits. Avoid such policies.
  • The premium charges are more or less the same for all burial insurance companies. But, you should compare the policies that fulfill the above-stated requirements and save money with a low-priced one. 

Is There a Magic Formula to Find the Best Burial Insurance Policy?

Finding the policy that works for you isn’t rocket science. We recommend comparing several carriers and their products to make your pick. You can just hire independent agencies like us specializing in burial insurance for seniors over 70 and represent several reliable insurance companies.

Can You Do It Yourself?

Of course, you can call 10-15 carriers and get the quotes for a policy. Even if they send you the quotes immediately, consider the time it will take to make these many calls. You can’t really expect any company to recommend one of its competitors instead of selling itself. They won’t do your risk assessment to get accurate quotes according to your medical history and past medications. 

That’s where we step in!

We don’t offer our clients a cheap quality Insurance plan for over 75. We simply offer the most competitive and cheapest rates possible. You may have heard of companies like John Hancock, State Farm, and Colonial Penn that constantly advertise on TV.  

Many people assume they are the most reputable companies out there with (highly paid) celebrity spokespeople. So it’s natural for folks to pick up the phone and call them up to get coverage. We are an independent agency, meaning that we have excellent relationships with the best insurance companies. 

You will also get a professional and specialized risk assessment for precise quotes and honest opinions from our experienced agents.

Should You Buy Through An Agency or Go Directly to the Company?

Insurance for over 70

You may not know, but most life insurance carriers will not sell their products directly. They may ask you to work through their agency. It is the industry norm that the companies delegate the cost and time of customer acquisition to independent agencies like Insurance for Final Expense. 

In doing so, they save a lot of their legwork that we do instead. As a buyer, you may worry if it costs more to work with independent agents. It doesn’t because the insurers pay us, and the cost of insurance for you remains the same. 

Understanding the Working of Burial Insurance

Funeral plan for over 75

Final expense or burial insurance for seniors over 70 is a just type of life insurance. Funeral (or Burial insurance) is a particular form of whole life insurance. They are smaller face value whole life policies issued on in a very simplified way. Burial Insurance plans have much more relaxed underwriting. 

  • Funeral Insurance plans don’t require physical or medical exams.
  • You will never have to take a physical or medical exam.
  • The applications consist of collecting all your personal information, designating your beneficiaries, payment information, and answering some health questions.
  • Final Expense underwriting is quite lenient.
  • The purpose of a funeral insurance policy is to have a safety net that will pay out cash to your beneficiary when you pass.

Burial Insurance Underwriting for Seniors Over 70

The underwriting is quite straightforward and relaxed in plans for seniors over seventy. The carriers may accept several health conditions. With so many insurance options in the market, you will find coverage for virtually every risk factor. Every company has a unique underwriting due to which a condition unacceptable to one carrier may be acceptable to another. 

For example, most of our clients get approvals for policies that offer immediate coverage because we know the industry and find a company that accepts all their health conditions at the best prices.

What about the Face Value?

Best insurance for seniors over 70

It is quite interesting to note that you can buy as small coverage as you want if you’re over 70. It allows you to buy a policy with coverage of $2000, though the maximum limit is $50,000 offered by a few carriers. 

Considering the average funeral costs are $7000 to $10,000, you will get more than necessary for your final expenses, even with $25,000 coverage.

Guaranteed Issue Burial Insurance

Guaranteed Burial Insurance for senior over 70

The availability of guaranteed issue policies makes it simpler to buy burial insurance for seniors over 70. Since these policies have no health questions or history checks, they are your best bet if you have a serious or terminal illness.  

It sounds amazing, but guaranteed issue plans have higher costs and a 24-month waiting period, which may be the deal-breaker. It means your beneficiary will receive only the premium refund with a 10% interest if you die within the first 24 months of the policy.

Can You Find a Plan Without a Waiting Period?

If you want a policy that can offer immediate death benefits, look for one that asks some health questions. Please apply with a carrier where you can answer NO to their health questions. These are companies with underwriting that accepts most of the health conditions. However, it would help if you kept in mind a few things about such applications.

What Should You Keep In Mind?

The insurance companies mostly ask about health issues that matter to them. So, if they don’t particularly ask about a disease, they may not be concerned about it. For example, you may try to find a company asking about high cholesterol and not succeed because it is not a big risk factor for them. 

If you answer any health question with a yes, be prepared to pay a higher monthly premium and a partial or complete waiting period. Still, some companies will offer you full death benefits from the first day, even if you answer yes to a few specific health questions.

Frankly, it depends on the companies and their unique plans. You can navigate these confusing matters with an independent agent like us. We will help you answer every health question correctly to avoid waiting periods and massive payments. 

Can You Always Avoid the Waiting Period?

No matter what you do, some medical conditions make the waiting period unavoidable in burial insurance for seniors over 70. These conditions are just not eligible for day-one coverage. Although they aren’t too many, here are a few conditions that require a waiting period irrespective of the age. These conditions are divided into two categories.

1. Health conditions that require 24-month waiting period

The details may not matter for these conditions where you answer with a yes or no. They include:

  • Organ transplantation
  • If you are restricted to a wheelchair due to a chronic disease
  • Cancer of any type in the last 24 months excluding squamous cell or basal cell
  • AIDS or HIV
  • Current dialysis
  • Full-blown stroke or heart attack within the previous 12 months
  • Terminal illness
  • Circulatory or heart surgery in the last 12 months
  • Angina or chest pain in the last 12 months

2. Health Conditions Where You Get Partial Coverage in the First Two Years

These are the graded benefits plans where the carrier payouts 30-40% of the first year’s death benefits. They payout 70-80% for the second year, while after 24 months, you get 100% death benefits. The conditions are:

  • Congestive heart failure
  • Cardiomyopathy
  • Oxygen use for sleep apnea that qualifies for 100% immediate coverage

Can You Buy Burial Insurance Online and How?

At first, you may not realize, but some insurance companies use their website as lead aggregators that sell nothing more than leads. That means there are no insurance products available on their sites. You won’t get a single price quote from them. 

The website’s primary job is to gather potential leads and sell these contacts to the agents and insurers. But, you can cut through this clutter and find the best independent agents that sell burial insurance for seniors over 70. Here’s how.

What Does the About Us Page Say?

If the website doesn’t have the ‘About Us’ page, it is a lead aggregator or vendor. The About page displays the company’s background and tells about people working for it. This page also talks about the company’s date of commencement, mission, vision, etc. 

Do They Ask for Your Zip Code?

Mostly, lead aggregators ask for your zip code to provide quotes. If you come across such a website with a quote box asking only for this information, consider it a red flag. A genuine independent agent’s website will ask for the information required to offer accurate quotes.

Does the Website Have Any Logos?

The authentic burial insurance websites have logos of all insurance companies they represent. If there are no logos, well, don’t stay on the website any longer. It’s just a lead vendor.

Look at the Content and Design

Any reputable and established burial insurance agency will take pride in its website. Hence, you can expect professional design and informative content. A website lacking these aspects can belong to lead aggregators who don’t bother investing in their online entity.  

Another way to check is by looking at their blog if they have any. The absence of a blog is a clear indicator that it’s a lead vendor’s website. All they do is create some essential content and promote it until they start getting some traffic. But, an agency selling the real burial insurance products will post the updated, relevant, and informative content in their blog section. 

The Security Also Matters

A website’s security is a big deal if you are willing to share your personal information to get burial insurance quotes. Hence, look at the address bar for elements like a small lock or https://. Also, check if the images or logos on the website take you to the source websites. For example, if they have the BBB logo, click on it to see if it goes to the agency’s BBB listing page.

Which Companies Offer the Best Burial Insurance for Seniors Over 70?

Burial life insurance for seniors over 70

When choosing the best insurers to meet your needs, we look at:

  • Competitive pricing
  • Unique underwriting value
  • Financial stability

Our top picks are:

Mutual of Omaha

  • A+ A.M. Best Rating
  • In business since 1904
  • Face amount ranging from $2000-$40,000 for 70-79 years
  • Accidental rider optional with additional premium

Foresters Financials

  • A Rating 
  • Doing business since 1874
  • Face amounts for 70-79- $2000-$35,000
  • Accidental rider comes optional for added premium
  • Good option for people with diabetes, people with mental issues, and seizure disorders

Royal Neighbors of America

  • A.M. Best rating of A-
  • Doing business since 1895
  • Face amounts for 70-79 years range from $5000-$25,000
  • No riders
  • Good option if you have diabetes, mental health problems or use blood thinners

Transamerica

  • A+ rating 
  • Commenced business in 1928
  • Face amount ranges from $1000-$30,000 for ages 70-75 and $1000-$25,000 for 75-79
  • Riders optional with additional premium include Children & Grandchildren coverage, Accidental Death coverage
  • Offers immediate coverage for COPD and many other serious illnesses

Burial Insurance Prices for Seniors Over 70

Here are the quotes from the leading insurance carriers for non-tobacco users. The prices may vary if you smoked cigarettes in the previous year, used any other tobacco type, or answered any health question with yes. 

Foresters Financial

70-79 Year Old Burial Insurance Quotes for Male

AGE$5,000$10,000$15,000$20,000
70$38.03$72.91$107.78$142.66
71$41.01$78.86$116.72$154.58
72$41.01$84.81$125.65$166.48
73$46.96$90.77$134.58$178.40
74$46.96$96.73$143.52$190.31
75$52.92$102.69$152.46$202.23
76$57.33$111.50$165.68$219.85
77$61.73$120.31$178.89$237.48
78$66.14$129.12$192.11$255.10
79$70.54$137.93$205.31$272.70

70-79 Year Old Burial Insurance Quotes for Female

AGE$5,000$10,000$15,000$20,000
70$28.28$53.42$78.55$103.69
71$30.45$57.75$85.05$112.35
72$32.62$62.08$91.55$121.01
73$34.78$66.41$98.04$129.68
74$36.95$70.74$104.54$138.34
75$39.11$75.08$111.04$147.00
76$42.71$82.28$121.84$161.40
77$46.31$89.48$132.64$175.81
78$49.91$96.68$143.44$190.21
79$53.52$103.88$154.25$204.61
Transamerica

70-79 Year Old Burial Insurance Quotes for Male

AGE$5,000$10,000$15,000$20,000
70$39.05$74.60$74.60$145.70
71$41.40$79.30$117.20$155.10
72$43.75$84.00$124.25$164.50
73$46.95$90.40$133.85$177.30
74$49.35$95.20$141.05$186.90
75$51.75$100.00$148.25$196.50
76$56.55$109.60$162.65$215.70
77$61.05$118.60$176.15$233.70
78$65.70$127.90$190.10$252.30
79$68.75$134.00$199.25$264.50

70-79 Year Old Burial Insurance Quotes for Female

AGE$5,000$10,000$15,000$20,000
70$28.70$53.90$79.10$104.30
71$30.45$57.40$84.35$111.30
72$32.20$60.90$89.60$118.30
73$34.60$65.70$96.80$127.90
74$36.35$69.20$102.05$134.90
75$38.15$72.80$107.45$142.10
76$41.85$80.20$118.55$156.90
77$45.30$87.10$128.90$170.70
78$48.90$94.30$139.70$185.10
79$51.35$99.20$147.05$194.90
Mutual of Omaha

70-79 Year Old Burial Insurance Quotes for Male

AGE$5,000$10,000$15,000$20,000
70$38.45$73.70$108.95$144.20
71$40.78$78.36$115.93$153.51
72$43.06$82.92$122.78$162.64
73$45.61$88.01$130.42$172.82
74$48.18$93.16$138.13$183.11
75$51.37$99.53$147.69$195.85
76$55.04$106.87$158.70$210.54
77$58.42$113.64$168.86$224.08
78$61.53$119.86$178.18$236.51
79$64.72$126.23$187.74$249.25

70-79 Year Old Burial Insurance Quotes for Female

AGE$5,000$10,000$15,000$20,000
70$28.22$53.24$78.26$103.28
71$29.92$56.63$83.34$110.06
72$31.66$60.12$88.58$117.04
73$33.57$63.93$94.29$124.65
74$35.49$67.78$100.07$132.36
75$37.81$72.41$107.01$141.62
76$40.73$78.25$115.77$153.29
77$43.36$83.51$123.66$163.81
78$45.82$88.44$131.06$173.67
79$48.31$93.41$138.52$183.62
Overpriced Funeral Homes With Gary Cubeta

A Few Facts about Funeral Insurance

  • Burial insurance is a just type of life insurance.
  • Funeral (or Burial insurance) is a particular form of whole life insurance.
  • They are smaller face value whole life policies issued on in a very simplified way.
  • Burial Insurance plans have much more relaxed underwriting.
  • Funeral Insurance plans don’t require physical or medical exams.
  • Funeral Insurance Policies are very simple.
  • You will never have to take a physical or medical exam.
  • The applications consist of collecting all your personal information, designating your beneficiaries, payment information, and you answer some health questions.
  • Final Expense underwriting is quite lenient.
  • The purpose of a funeral insurance policy is to have a safety net that will pay out cash to your beneficiary when you pass.

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
1-800-400-8319
Insuranceforfinalexpense.com
(Serving Americans In All 50 States)