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usalifeteam · 1 year

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Comparing Final Expense Insurance Policies

Comparing Final Expense Insurance Policies The burial insurance, known as final expense insurance, the market is set to increase by 3.6% by 2030. This shows that more people are becoming concerned with having their end-of-life insurance in place. Then, the process can become less stressful for family members who are left behind. Burial insurance covers funeral arrangements, burial expenses, and…

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usalifeteam · 1 year

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Comparing Final Expense Insurance Policies

The burial insurance, known as final expense insurance, the market is set to increase by 3.6% by 2030.

This shows that more people are becoming concerned with having their end-of-life insurance in place. Then, the process can become less stressful for family members who are left behind.

Burial insurance covers funeral arrangements, burial expenses, and associated medical bills. Are you covered for final expense life insurance?

If not, we’re here to tell you about the different insurance policies you can take. That way, you can choose the one that’s right for you.

Read on to learn more.

Types of Final Expenses Life Insurance

There are four main types of burial insurance that you can take out. Here we’ll tell you what they are and explain them to you. These include:

No waiting period insurance

Simplified issue insurance

Guaranteed issue insurance

Pre-need insurance

No Waiting Period Insurance

You can get your final expenses paid outright with zero waiting time. However, you don’t have to use it immediately, and it’s down to you when you want to spend it on your funeral costs.

No waiting period insurance is given, with no medical bills, costs, or physical assessments needing to be carried out.

Simplified Issue Insurance

Health gets examined based on your medical history. Are you a smoker? Do you have any health-related issues?

These are taken into account and may affect the cost of your insurance. In fact, you may even receive a complete refusal depending on your circumstances.

Guaranteed Issue Insurance

No medical tests are needed here. But it comes with a risk and can drive up the payment for your insurance. Also, you can’t touch the full death benefit for your life insurance final expenses until you’ve reached a specific time limit, generally between two and a half years.

If you do happen to die and no health-related issues are present before this time, your beneficiaries will only receive a partial cut of the payment. However, full payment is generally provided when death is due to an accident.

Pre-Need Insurance

You need an agreement in place here with your funeral provider. This includes particular products and services you’ve got with your provider.

The payout goes directly to you rather than any heirs or beneficiaries with whom you’ve contracted.

Book Us for Your Final Expense Insurance Today

Final expense insurance is needed so your family can be duly paid in case you pass away. These costs are then put towards funeral and burial expenses. Here, we’ve looked at the four main types of burial insurance available.

No waiting period insurance may be the best choice due to the benefits of not waiting for your payment, which can place added anxiety on you when your family member passes away.

You shouldn’t wait any longer and get on board with us today for your final expense insurance. Get in touch with us, and we’ll get you sorted with your insurance immediately.

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usalifeteam · 1 year

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3 Things to Know About Different Kinds of Basic Life Policies

No one wants to think about life insurance, but it’s essential if you’re going to protect your family.

106 million Americans lack sufficient life insurance coverage, mostly due to a lack of knowledge on the subject. It’s never too early to start thinking about different kinds of basic life policies, which is why we’re here today.

In this post, we’re going to tell you 3 things you need to know about different kinds of life insurance. Keep reading, and you’ll see that life policies don’t just protect your family’s finances; they also put your mind at ease.

1. Term Vs Whole Life Policies

There are two main types of life insurance that most Americans get: term and whole life. Term life insurance has you covered for a specific amount of time, paying the same rates every month. Should you pass away during the term (10-30 years usually), your beneficiaries will receive a payout.

Whole life policies are the simplest to grasp, as they provide coverage for your entire life. Unlike term insurance, whole life includes a cash component, so some of your premium money is put in a cash value account that grows over time and is exempt from taxation.

The biggest difference between these two types of insurance is the cash value. Once your term policy expires, it has no cash value. You can convert your term policy into a whole life policy if you choose.

2. Universal Life Insurance

Universal life insurance is a sort of middle ground between term and whole life insurance. Like whole life, it’s a permanent life insurance policy with a cash value, but the premiums are flexible.

What makes universal life insurance policies desirable is that they allow you to alter the amount that you pay each month to suit your current financial situation. If you have a child, for instance, you may decide to pay less per month, but you may need to make it up down the road.

3. Final Expense Insurance

Older people that haven’t paid into an insurance policy may decide on final expense insurance, also known as burial insurance for seniors. This prevents your loved ones from having to cover the costs of your burial and funeral expenses.

You can take this one step further by getting burial insurance with no waiting period. With other policies, a certain amount of time needs to pass before anything can be withdrawn. With a no waiting period designation, however, this doesn’t apply.

Choosing Between the Kinds of Basic Life Policies

These are a few of the most prominent kinds of basic life policies. Which you choose will depend on what stage of life you’re in and what your financial stability looks like. If you’ve been without insurance for your entire life, it’s important to know that it’s not too late to help your loved ones out.

To discuss your options with a dedicated professional, contact us at USA Life Insurance Services. We’re an independent agency that specializes in affordable final expense insurance. Let us help you put your mind at ease so you can enjoy your life.

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usalifeteam · 1 year

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3 Things to Know About Different Kinds of Basic Life Policies

3 Things to Know About Different Kinds of Basic Life Policies No one wants to think about life insurance, but it’s essential if you’re going to protect your family. 106 million Americans lack sufficient life insurance coverage, mostly due to a lack of knowledge on the subject. It’s never too early to start thinking about different kinds of basic life policies, which is why we’re here today. In…

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usalifeteam · 1 year

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Understanding Burial Insurance for Seniors: A Brief Overview

Understanding Burial Insurance for Seniors: A Brief Overview In 2021, the average cost of a funeral with burial was nearly $8,000. Unfortunately, the prices rise yearly. Thus, you might spend more than this on a funeral in a few years. As a result, people turn to burial insurance for seniors. Burial insurance provides a cash payout for funeral costs, making the financial impact of a funeral…

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usalifeteam · 1 year

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Understanding Burial Insurance for Seniors: A Brief Overview

In 2021, the average cost of a funeral with burial was nearly $8,000. Unfortunately, the prices rise yearly. Thus, you might spend more than this on a funeral in a few years.

As a result, people turn to burial insurance for seniors. Burial insurance provides a cash payout for funeral costs, making the financial impact of a funeral easier on families.

Buying burial insurance is the best solution for people who can’t afford traditional life insurance policies.

Here is a brief explaining burial insurance and the top things you need to know.

Burial Insurance for Seniors Has Age Limits

Burial insurance is often referred to as final expense insurance, but both are the same policies. In addition, many insurance companies pose age limits for purchasing burial insurance, but some don’t.

However, most people purchase burial insurance policies after the age of 50. This is because it’s ideal for people older than 50, as the chances of dying increase after this age.

Additionally, you might look for burial insurance with no waiting period. If your policy has a waiting period, you might not have coverage for the first few months or years.

It Offers Enough Coverage for Funeral Costs

The purpose of burial insurance is to receive financial compensation to cover the policyholder’s funeral costs. Funeral costs are high, depending on what you choose for your funeral.

But do you want to leave your family with these expenses? If not, buy funeral insurance. Once you secure a plan, your beneficiary receives the stated amount of coverage when you die.

Of course, they must file a claim and show proof of death. Once this occurs, they receive the policy amount.

It’s Whole-Life Insurance

One of the differences you’ll notice with life insurance is the terms. The primary difference is some policies last for a term, while others never end.

For example, term-life insurance lasts for 10 or 20 years, depending on the person’s choice.

On the other hand, whole-life insurance policies never end. Instead, they offer a guaranteed payout regardless of when the person dies.

As you compare types of burial insurance, take note of this fact. The best burial insurance policies are whole-life insurance plans, which means they never end and always guarantee a payout.

You Won’t Have a Health Exam

One additional thing to note is that some insurance companies require a health exam to qualify for burial insurance policies. Our company doesn’t require a health exam to receive coverage.

Thus, you can qualify for burial insurance regardless of your health status. Of course, the prices depend on your age, policy amount, and other factors. But the costs of burial insurance are lower than other life insurance types.

Learn More About Burial Insurance

Burial insurance for seniors is ideal for people who want to reduce the financial burdens on their families. You can find out if it’s right for you by contacting us.

At USA Life Insurance Services, we make buying burial insurance a breeze. Contact us to learn more.

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usalifeteam · 1 year

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3 Tips for Choosing the Right Burial Insurance

Recent statistics show that the average cost of a burial is more than $7,800. Burial insurance can help cover these costs. A burial insurance program helps alleviate expenses for your family once you die.

Three tips for choosing the best burial insurance include determining your final expenses and deciding if the company has a good reputation. To find the best insurance companies, asking family and friends is essential.

Here’s more on the three tips for finding burial life insurance.

1. Determine Final Expenses

A burial insurance program is essentially a life insurance program that will take care of the funeral home and medical expenses. You can also use the best burial insurance for legal costs. Final funeral costs will include a church service, repast, and flowers.

Burial life insurance is not meant for high ticket costs such as mortgage payments or college tuition.

If you are diagnosed with a terminal disease or have medical debt, you’ll know how much your family will owe upon death. In some cases, you’ll need to take a medical exam.

Costs will likely rise over time. Depending on your age, you should discuss future costs with the insurance provider.

2. Look for a Good Reputation

When purchasing burial insurance for seniors, it’s best to look for burial insurance companies with a good reputation.

Look for companies with excellent customer service and those who respond to your inquiries quickly. You want a company that handles burial insurance for seniors that is knowledgeable. Truth and honesty are also great qualities to consider.

Burial insurance companies should discuss your premiums and the ‘fine print’ of the policy. It’s also important for beneficiaries to know about the policy and understand the company’s benefits.

Check with government agencies and the Better Business Bureau to see if the company with the best burial insurance is reputable.

3. Ask Family and Friends

Talk with family and friends about the best burial insurance for seniors. People in your inner circle will give you the best advice. You’ll become aware of the pitfalls and surprises thanks to their suggestions.

Family and friends can also give you a better idea about costs and premiums. You’ll learn about customer service, payment plans, and the payout process.

Also, be sure to check online. Many people will post their experiences on websites about the best burial insurance for seniors.

Almost 85 percent of people looking to make a decision say reviews are essential.

Three Tips for Choosing the Right Burial Insurance

Three tips for choosing the right burial include determining final expenses and searching for a company with a good reputation. Talking with family and friends about their burial insurance decision-making process is also essential.

Contact us today, and let us help you with burial insurance for seniors. We’ll help you determine how much you need. We’ll also walk you through the payment process, and your benefactors can collect the money upon death.

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usalifeteam · 1 year

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3 Tips for Choosing the Right Burial Insurance

3 Tips for Choosing the Right Burial Insurance Recent statistics show that the average cost of a burial is more than $7,800. Burial insurance can help cover these costs. A burial insurance program helps alleviate expenses for your family once you die. Three tips for choosing the best burial insurance include determining your final expenses and deciding if the company has a good reputation. To…

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usalifeteam · 1 year

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3 Different Kinds of Life Insurance and How They Work

3 Different Kinds of Life Insurance and How They Work Most people view life insurance as an optional form of insurance. As a result, nearly 106 million people don’t have it. While you don’t have to buy life insurance, you should. Life insurance is vital insurance coverage designed to protect your family. But there are different kinds of life insurance. This article will discuss three of the most…

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usalifeteam · 1 year

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3 Different Kinds of Life Insurance and How They Work

Most people view life insurance as an optional form of insurance. As a result, nearly 106 million people don’t have it.

While you don’t have to buy life insurance, you should. Life insurance is vital insurance coverage designed to protect your family. But there are different kinds of life insurance.

This article will discuss three of the most common types and how they work. Keep reading to learn more.

Term Life Insurance

Term life is among the various types of life insurance policies people buy, and this kind is popular. When you purchase term life, you choose several things:

Amount

Term length

Beneficiaries

The policy offers a guaranteed payout if the policyholder dies within the term. The term might be ten years or longer. However, your beneficiaries only receive the money if you die within the term.

The policy ends if you outlive the term you selected. You might wonder why people purchase policies that might not offer payouts.

Most people who purchase term life insurance buy it to protect their families when they need it.

For example, you might buy it while your children are young. Then, your spouse could use the money to support the kids since you no longer can.

Whole Life Insurance

Some people want a guaranteed payout regardless of when they die. People can purchase whole life insurance for this purpose.

Whole life costs more than term, but it offers a guaranteed payout. The policy doesn’t have a term or an expiration. Instead, it lasts as long as the policyholder lives.

When buying whole life, you still choose the amount and the beneficiaries. However, you don’t choose a term.

Another benefit of whole life is the policy accumulates cash value. As a result, you can borrow from the cash value if you need money.

Because of how they work, many people buy these policies as investments.

Final Expense Insurance

The average cost of a funeral in 2021 was $7,848. While this might not be a lot of money to some people, it is to others. Of course, people often use their life insurance proceeds to pay for these expenses.

One unique life insurance policy to consider is final expense insurance. This insurance also goes by other names, including funeral insurance. Of all the insurance policies you can buy, this is probably the most affordable.

The benefit of funeral insurance is it covers the policyholder’s funeral costs, which is helpful when someone dies. You can choose the amount of coverage for the policy. However, these policies are generally $20,000 or less.

They also offer a guaranteed payout as long as the policyholder is current on the required premiums.

Learn More About These Kinds of Life Insurance

Learning about the different kinds of life insurance can help you understand that you need insurance coverage and which type to buy. After reading this, you can decide which type you want.

Contact us at USA Life Insurance Services to learn more. We can explain your options and offer quotes for coverage.

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usalifeteam · 1 year

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Burial Insurance with No Waiting Period: 3 Things to Know

Burial Insurance with No Waiting Period: 3 Things to Know Burial insurance sales were between $17 billion and $20 billion in 2019. This shows that over recent years more people have become aware of the importance of having this type of insurance in order to prepare for a funeral. USA Life Insurance Services provide burial insurance no waiting period. That way, you can have your burial insurance…

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usalifeteam · 1 year

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Burial Insurance with No Waiting Period: 3 Things to Know

Burial insurance sales were between $17 billion and $20 billion in 2019. This shows that over recent years more people have become aware of the importance of having this type of insurance in order to prepare for a funeral.

USA Life Insurance Services provide burial insurance no waiting period. That way, you can have your burial insurance in place stress-free and without a doubt.

Want to know more about the no waiting period for burial insurance? Read more about it here.

What Are the Types of Burial Insurance?

There are different types of burial insurance. These include:

Burial insurance for seniors

Final expense insurance

Final expense insurance is another name for burial insurance. But truth is that anyone from birth to 85 years old can take out life insurance policies. There are laws in place for those 50 and younger, but the best time to get a no waiting period burial insurance policy is from age 50 and above.

What’s Required for a Burial Insurance No Waiting Period?

With USA Life Insurance Services there are no medical assessments or physical examinations required. Neither or there any health issues that are taken into account. We offer final expense insurance with zero waiting time whatsoever – you can get it right away.

In addition, it’s easily put in place with:

Rates put in place with no interest fees

Cover that won’t ever lower

Cover that will never expire or receive cancelation

You can even expand your monetary worth on your burial insurance. Loans can be taken out if you need them. But always remember that with us, there’s no waiting period.

What’s the Burial Insurance Process?

Whenever you pass, your burial fees are handed over to the insurance provider who’ll employ a tax-free indictment. This is usually then used for burial costs and any associated medical fees included for care involved in end-of-life.

While it’s handed out immediately, the choice is yours when you want and need to spend it on the funeral and burial.

How Do I Apply for Burial Insurance?

The application process is easy. Simply complete the USA Life Insurance Services form. All you’ll need is some basic information and you’ll be on your way to zero waiting for your burial expenses. Then, we’ll put you in touch with the burial insurance policy that’s right for you.

It’s online, contains a quick six-step process, and allows you to see instant rates. We’re here to assist you with getting the necessary steps put in place for your family member with a policy that’s easy on the pocket.

We’ll also answer any queries you have with an individualized plan that’s a fit for your needs.

Take Out Your Burial Insurance Policy With Us

Generally, burial insurance policies can be a lengthy process and daunting. However, with our burial insurance no waiting period option you can save time, energy, and money.

Ready to protect your family with a burial insurance policy just like our satisfied clients? Then, contact us now! We’re ready to give you a final expense insurance you can afford.

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usalifeteam · 1 year

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Mostly Positive or Negative? Mutual of Omaha Reviews

Everybody knows the old saying, “Nobody gets out of this world alive.” Death is an inevitable fact of life, but have you ever stopped to consider how much it costs to die?

The average burial cost across the US typically falls around $7,800. Some states and locations may average higher.

Fortunately, burial insurance can take a lot off of this average. However, how can you find the best burial insurance for you or your loved one?

One option is to check out Mutual of Omaha reviews. Mutual of Omaha offers excellent benefits for its customers. Check out this guide to learn more about those benefits!

Mutual of Omaha Reviews: What Sets Them Apart from Other Insurance Companies?

Mutual of Omaha has an excellent reputation for its burial insurance policies. They brand their insurance plan as a simplified, whole-life insurance policy called their Living Promise.

The Living Promise package is the primary product they market to consumers for its burial insurance. Insurance customers received these products through United of Omaha.

The package pays for someone’s final expenses and other costs associated with an individual’s last days. It can even cover a family member who incurs financial difficulties after the insured person’s passing. We’ll explore some benefits of this package in the following sections.

The Final Expense Policy

Mutual of Omaha offers this policy to customers between the ages of 45-85. The face amount you can collect falls between $2,000 and $40,000.

One advantage of this policy is its speedy implementation. It kicks into effect on the first day of the plan, leaving you with a hassle-free implementation.

Many consumers believe its pricing is among the best in the market. It also has the benefit of riders that can benefit the insured. The most famous of these is the terminal illness rider.

Terminal Illness Rider

Let’s say you received a diagnosis in which you have twelve months left to live. In this case, you can accelerate your death benefit significantly during those months. This acceleration can help you manage your finances and cover final expenses before your death.

However, there is a downside to this payout. The amount you accelerate will reduce the financial benefit your family receives upon your death.

Nursing Home Confinement Rider

Another potential rider is the nursing home. You can accelerate your policy after if you become confined to a home for ninety days or more. This acceleration allows you to access up to 50% of your death benefit.

What About Our Insurance Services?

There are many positive Mutual of Omaha reviews for the company’s life insurance policy. However, we also offer highly rated burial insurance policies.

Our policy offers several advantages, including the following factors. First, there are no medical exams necessary to qualify. Likewise, we lock your rates in; they cannot increase later.

Similarly, your coverage will never decrease. The amount you receive is what you can expect to remain.

In other words, we offer a trusty and reliable package your family can count on. Request a quote from us today to learn more!

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usalifeteam · 1 year

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What You Should Know About the Cheapest Burial Insurance Policies

Burial costs have risen over the years and are now at over $7k on average in the United States. People want simplicity, and the cheapest burial insurance can offer it while not putting anyone out of pocket. Still, there are many questions about what is a good, yet cheap, insurance policy and what it provides.

Below we have some of the information you might be searching for that you need to know about final expense insurance. By reading on, you will learn how to find the best option for you, no matter if the policy is for yourself or someone else in your life.

You Will Need to Shop Around

When searching for a life insurance policy, do not expect the first thing you find to be the best option. There are many different policies, each offering different things.

As such, delve deep into each one and find one offering all the things you think you will need to get the burial you deserve.

There Might Be a Waiting Period

Many policies include a waiting period in the fine print of their documents. If, for example, someone is already close to the end, there is every chance they will not outlive the waiting period.

You do not want to discover this at the last minute and find yourself paying out at a delicate time. See if you can find one without a waiting period, or one where the said period is shorter.

Find an Affordable Packages That Is Worth It

Burial expenses can end up costing a lot, so you need to offset this with how much you can afford each month. Try to work out how much you could stand to pay up-front if the worst happened, then find a package that can cover the rest. You might find that you can afford this better in the short and long term.

Cheaper Services Are Often Less Experienced

Be careful. Many of the cheaper services out there are cheap for good reason. Some of them may have low-quality services, might be slow with what they provide, or could have inexperienced people in charge.

When you are pacing in a funeral home dealing with a loved one’s passing, you want to know you are working with people you can trust. As such, talk to your potential insurance providers and see how much they know about what they are talking about. Comparing different offers might be the most powerful thing you can do.

Where to Get the Cheapest Burial Insurance

You have many options for where to get the cheapest burial insurance, so make sure you know how to find it. In making this hard decision, we can provide you with some of the best advice you can discover in the market.

All you need to do is get in contact and we can discuss with you all your options for finding better insurance without breaking your back. Give us a call today and learn what we can do together, or request a quote and get started on your burial insurance journey.

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usalifeteam · 1 year

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Mostly Positive or Negative? Mutual of Omaha Reviews

Mostly Positive or Negative? Mutual of Omaha Reviews Everybody knows the old saying, “Nobody gets out of this world alive.” Death is an inevitable fact of life, but have you ever stopped to consider how much it costs to die? The average burial cost across the US typically falls around $7,800. Some states and locations may average higher. Fortunately, burial insurance can take a lot off of this…

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usalifeteam · 1 year

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What You Should Know About the Cheapest Burial Insurance Policies

What You Should Know About the Cheapest Burial Insurance Policies Burial costs have risen over the years and are now at over $7k on average in the United States. People want simplicity, and the cheapest burial insurance can offer it while not putting anyone out of pocket. Still, there are many questions about what is a good, yet cheap, insurance policy and what it provides. Below we have some of…

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usalifeteam · 1 year

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How Senior Life Insurance Rates Compare to Other Insurance Rates

As we grow older, it is only natural to think about what we leave behind for loved ones. One of the best ways to ensure that your assets are protected and you don’t leave others with burdensome debt is through life insurance.

Surprisingly, more than 100 million adults in this country lack life insurance or adequate coverage.

You may be wondering how senior life insurance rates compare to other plans. In this guide, we will answer that question while exploring how you can find the best value for yourself and your family.

What to Expect with Senior Life Insurance Rates

In terms of percentages, adults in their 40s can expect rate increases of 5% to 8% while adults over 50 can expect 9% to 12% increases on average.

In terms of annual premium payments, that could mean paying $13 a year for a $250,000 policy in your 20s, twice that amount in your 40s, and annual payments of more than $100 over 60.

Why Is Senior Life Insurance More Expensive?

Paying for funeral costs is just one benefit of life insurance, but those and other benefits are only available once the insured person passes away. Like other forms of insurance, your life insurance company calculates how much risk would be associated with covering you.

For the life insurance company, they calculate the risk as the funds they would have to pay out during the term of your policy. To find out how risky you are, insurance providers consider things like lifestyle, occupation, and age.

Older people are more likely to become ill and die. In order for a company to ensure a senior citizen, they need to pay higher premiums. That mitigates the risk and makes the older adult insurable.

Is There an Age Limit for Senior Life Insurance?

Generally speaking, there is no upward age limit. Individual companies may decide which age they will not insure. For example, many companies do not insure individuals over 80.

There are plenty of companies that specialize in senior life insurance, including USA Life. Our company thinks of final expense insurance from a different perspective.

While other companies view these policies as end-of-life care, we see them as proactive tools. These tools help our customers live worry-free.

We specialize in burial insurance. We do not require clients to undergo physical or medical exams. Pre-existing conditions will not prevent acceptance.

Unlike our competitors, USA Life’s final expense insurance is easy to obtain and there is minimal fine print to worry about.

Find Affordable Insurance Today

Burial insurance is ideal for anyone up to age 85. Despite the name, the money can be spent on anything. The funds can even be used to pay off medical bills accrued for end-of-life care.

When exploring senior life insurance rates, it is best to work with an experienced company that specializes in burial insurance. Email or call us today. One of our agents will quickly follow up with you to answer any of your questions.

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