New Mexico, aka “The Land of Enchantment,” is a state full of inspiring scenery, amazing culture, and rich history. According to the 2019 U.S. Census, the total population of New Mexico was estimated at 2,096,829, with 17.5% of that number over 65. Now let’s be clear, we typically help those aged 55 and over with this type of insurance (burial/funeral). This article will show you how we can get you the best New Mexico life insurance. We’ll also talk about some state-specific statistics and discuss some of what makes New Mexico such a great state!
New Mexico, Arizona, Colorado, and Utah all share a special bond among U.S. states. Why? We are all 4 corners states! New Mexico is one of the states that form the Four Corners, the only location in the United States where four states intersect at one point. The other three states are Arizona, Colorado, and Utah.
At Insurance for Final Expense, we are proud to be your western neighbor and fellow 4 corners state! We are physically located Scottsdale, Arizona, but serve states nationwide, including our friends in New Mexico.
We love helping those in New Mexico to get the very best funeral Insurance coverage. Let’s just say… If you are looking for premier funeral insurance to cover your family in New Mexico, you’ve come to the right place!
Average Funeral Costs in New Mexico
The typical traditional funeral may cost between $7,000 and $12,000. This includes burial, basic service fees, transporting remains to funeral home (hearse), a casket, embalming, and other arrangements.
The average cost of cremation can be $6,000 to $7,000. Neither of these costs includes a cemetery, monument, marker, a reception following the memorial service, or other items like flowers or funeral programs (pamphlets).
Regardless of whether you plan to be buried or cremated, this is a lot to ask of your family as they are grieving your loss, especially when you can get covered now for as low as $19.95/mo.
Why Does Final Expense Insurance Make More Sense?
When you hear the term, funeral insurance, don’t assume we are only talking about a traditional funeral with a burial and casket. Also, understand that the term “funeral insurance” is used interchangeably with the terms “burial insurance” and “final expense insurance” in the industry.
So, funeral insurance, New Mexico, also covers cremation and whatever range of services you would like upon your passing. This is something put in place for your family and loved ones. When you do pass, there will be hefty costs associated with laying you to rest.
The last thing anyone wants to do it put their family members into a financial pickle at this time of grief. They may be forced to dig into their savings (if they have any) or rack up loads of high-interest credit card debt to pay for the costs.
This is where Funeral Insurance comes in.
So, What Do You Get with Funeral Insurance, New Mexico?
Burial insurance is simply a small whole life policy that ensures that your loved ones won’t be burdened financially with the far too expensive funeral costs. The amount of funeral coverage people get is commonly anywhere between $5,000 and $25,000.
It requires no medical exam for qualifying and your survivors can use the coverage amount to meet other expenses like medical bills, credit card debts, etc. People aged 50-85 can buy this policy.
Types of Burial Insurance Available in New Mexico
You can buy three types of burial insurance in New Mexico, depending on your current health conditions, age, gender, and coverage required. Your options include:
- Level Death Benefit Policy– It offers immediate coverage with affordable premiums if you are healthy with no medical conditions.
- Guaranteed Issue Policy– It works for those having severe health conditions. The policy has a high premium rate and a 24-month waiting period.
- Graded Benefits– It is a clause in guaranteed acceptance policies that allow you affordable premiums if you have some minor health issues, like high blood pressure or high cholesterol.
Shopping for Burial Insurance in New Mexico
Funeral Insurance can seem intimidating, but we make it simple. People see ads everywhere and are left with questions. “Am I healthy enough?” “How much coverage should I get?” “Can I afford this?”
They are all reliable, well established institutions. So, you might be inclined to just go with one of these companies and get it done with. But we encourage you to think twice before doing that. Getting a final insurance policy is a major decision, and you should know your options. Afterall we don’t expect you to be an insurance policy genius.
These companies are “captive agencies”. They only represent and sell their own insurance. We are what’s known as an independent agency. The difference being that we offer you a variety of exceptional final expense insurance plans from various carriers. Because of this, we are able to get you the best monthly rates and an individualized plan.
New Mexico Health Statistics
Read on to learn some important state specific health related statistics involving New Mexico. We will also go over getting the very best Funeral insurance coverage in New Mexico and detail how funeral insurance can help protect you and your family.
Leading Causes of Death in South Carolina
|Rank||Cause of Death||Total Deaths|
|4||Chronic Lower Respiratory Disease||1,143|
|7||Chronic Liver Disease/Cirrhosis||605|
(Note: These statistics are taken from the CDC website, and the data is for the year 2017. Keep in mind that these numbers vary from state to state due to population and state rank across the U.S.)
Life Expectancy in New Mexico
The average life expectancy in New Mexico was 78.0 years (in 2018). Overall, New Mexico ranked #37 in average life expectancy across all U.S. states. That was a decrease of 0.4 from 2010 when the average life expectancy was 78.4 years old.
So, Nevada has a relatively low ranking amongst other U.S. states in terms of life expectancy. Does that mean that New Mexico residents are at a disadvantage compared to other states when it comes to obtaining high quality, low-cost funeral insurance? Absolutely Not! Every customer is treated in the same way we at Insurance for Final Expense treat all of our customers in all states.
Getting the Best Funeral Insurance Policy in New Mexico
To find the best choice in final expense insurance in New Mexico, you must work with an independent agency representing a variety of funeral insurance carriers.
We sincerely hope you don’t, but should you choose to go with one of the big-name advertisers like John Hancock, State Farm, Colonial Penn, or Gerber Life Insurance, understand that you are locked into only the funeral insurance products that they provide. In contrast, we can give you multiple affordable, excellent insurance companies in New Mexico.
We are here to serve YOU, never to sell you. Our objective is to help you effectively see the entirety of your choices and never drive you into a plan that doesn’t suit you. Our way of thinking is, consistently has been, and will remain, the client first.
If you need help with a guaranteed issue or 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, fill out the quote form on this page, and a licensed agent will be in touch with you promptly.