If you just celebrated your 52nd birthday, you no doubt are enjoying all that 52 has to offer. Gone are the days when you had to worry about silly stuff. These days, you’re an established adult who is either planning for retirement in the next 10 or so years, plotting out the possibility of retiring someday, or deciding whether or not you even want to retire. Maybe you still have kids at home, or you just dropped your last baby off at college, or you’ve been in your empty next for a few years. Whatever your life circumstances are at 52, you still have a lot of living left to do. That is why it is so important at this time to consider sample funeral insurance rates for 52 year olds!
Funeral Insurance for 52 Year Olds
One thing you probably haven’t given much, or any, though to is funeral insurance. You might be scratching your head, wondering why you would even consider end of life insurance when your life is still rolling along nicely at 52 years old. We don’t want to burst your bubble, but it’s a fact of life that everyone will pass on someday. The last thing you want to happen after you pass is for your loved ones to be faced with huge medical bills and a large bill from the funeral home when they are also dealing with their grief and sadness at losing you.
Unfortunately, if you want to have the peace of mind that the ones you hold dearest in your heart are taken care of, you need to plan for your eventual death and start thinking about funeral insurance. It might feel morbid or even overwhelming to do this, but planning for the future will ensure that you are taking care of the ones you love long after you are gone.
But, if funeral insurance isn’t something you’ve ever researched or looked into, how will you know if it’s something you want? For starters, let’s take a look at what funeral insurance is. Then, we’ll cover some sample burial insurance rates for 52-year-olds, and then we’ll look at how you can get the most affordable rate for you.
The Specifics of Burial Insurance
You most likely have a health insurance policy, a car insurance policy, and possibly a life insurance policy, but none of these do what end of life insurance does. Created specifically for families to cover the expenses of funerals and burials, as well as the mounting costs of medical expenses, especially for end of life and hospice care, burial insurance for 52 year olds gives your beneficiaries a set amount after you pass away. You get to take care of them in your death, and they are free to focus on grieving.
Funeral insurance, or end of life insurance, is offered in a range of options, from policies that provide payouts only after you’ve surpassed a set amount of time without passing away. Typically, this amount of time is around 24 months. Some policies are guaranteed, but they are costlier per month than other policies.
So, What do Funeral Insurance Rates for 52 Year Olds Look Like?
That’s a very loaded question at just 52 years old, but one worth taking a deep dive into. Various factors affect how much the monthly premiums for you will be. If you are a male or a female, this can affect your monthly funeral insurance payments. If you have any chronic conditions or illness, this might be considered a red flag, depending on the company you deal with. Also, if you are a tobacco user, this can significantly affect the cost of your burial insurance. Many insurance companies feel that it is a gamble to take on a patient who is a smoker so that they will charge you more per month on your policy.
How much can you expect to pay for burial insurance for 52-year-olds? Here is a list of amounts that are in the ballpark of the range you will probably end of paying. Note: These are not exact figures, and the specific amount that you will need and that you qualify for can change these.
Sample Funeral Insurance Rates for 52 Year Olds:
|Gender & Type||$5,000||$10,000||$15,000||$20,000|
|Female w/o a Waiting Period||$15.00||$25.70||$35.45||$46.15|
|Female uses tobacco & w/ waiting period||$17.25||$32.30||$45.30||$58.75|
|Female w/ Guaranteed Acceptance||$15.00||$29.00||$41.80||$55.40|
|Male w/o waiting period||$16.50||$30.15||$42.10||$55.10|
|Male uses tobacco & w/ waiting period||$21.00||$38.00||$53.75||$70.00|
|Male w/ Guaranteed Acceptance||$21.00||$39.00||$57.20||$76.00|
As you can see, there a wide range of costs here, and they change significantly based on varying factors. So, how can you save money on funeral insurance?
First, You Need to Consider the Amount of Insurance You Will Need.
You’ll want to consider how you want your funeral or end of life celebrations to go. If you want a large funeral, complete with graveside burial and a large, fancy coffin, you’re going to need a lot more money than someone who would rather be cremated. All told, a funeral can cost between $8,000 and $10,000.
While you can’t plan for whether or not you will have medical bills, you can help take care of yourself now. Also, give yourself some wiggle room when you are considering how large of a policy to get. Consider that if you get a policy without a waiting period, you’ll pay less than a policy with guaranteed acceptance.
You’ll also want to think about your tobacco use and consider that using tobacco will make your insurance rates for all different things, but especially end of life insurance, more expensive than if you were not a smoke. Consider quitting to improve not only your monthly premiums but to stay much healthier in the long run.
Make sure you start planning for the rest of your life by protecting your loved ones with a burial insurance policy. Covering your bases will enable them to have far more peace of mind than if you passed suddenly and there was no plan or financial coverage. No matter what, an end of life insurance policy for 52 year olds will deliver funds to the ones who you value the most.
Gary P. Cubeta
(Serving Americans In All 50 States)