Best Complete Seniors’ Guide to Getting a $20,000 Burial Insurance Policy

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Best Complete Senior’s Guide to Getting a $20,000 Burial Insurance Policy.

Burial Insurance is a Whole Life Insurance Policy that is built from the ground floor up for seniors. This complete senior guide to getting a $20,000 burial insurance policy should help. The good news is that it never expires. The actual life insurance coverage amount or the death benefit that your beneficiaries receive will never be reduced. It’s never going to change. Your premium remains the same until you die. The question is do you have enough coverage? Will your policy cover your anticipated burial costs?

This is an important topic to discuss with your agent. This is a Structured Whole Life Insurance policy, which means that it also accrues in cash value over time. Generally, there’s no medical exam and there’s no waiting period.

If you have moderate or severe health issues, you might need to get a Guaranteed Issue Life Insurance Policy. These types of policies can still function as burial insurance. If you need to go the Guaranteed Issue route, that means that you have a two-year waiting period.  During your Guaranteed Issue’s probationary period, your policy is in effect, but you will not qualify for a full benefit pay-0ut upon your death. There still is a payout to your loved ones if death occurs within the first two-years after starting your policy but it’s a reduced payout that’s geared only for more extreme cases.

Over 90 percent of the policies issued by Protect With Insurance are not Guaranteed Issue policies and there is no waiting period. Coverage starts immediately. That is part of the discovery process that we go through with you as far as matching you with the best possible option at the best possible price.

Cremation or Burial Insurance Costs Will Differ

burial life insuranceDo you want to be cremated or do you want to be buried? This is an important consideration because the price and amount of coverage will differ greatly depending on what you wish done with your remains.

Cremation policies are less costly than burial. They tend to be $10,000 or less. Costs can range between $5,000 to $10,000 with, $7,500 policies being the middle point and most common policy amount.  Other determining factors such as the size of the funeral service you want need to be considered. The more service amenities you want the greater the costs for the coverage.

Pre-Need Life Insurance and Printed Coverage

Burial Life insurancePre-Need Insurance and Burial Insurance both cover the same thing but they go about it in different ways. Pre-Need comes into play when you go to a funeral home and prepay for the burial services you choose. When you do this, in most cases, with your authorization, they will contact a life insurance brokerage agency like ours and set up a Life Insurance policy in your name to cover the expense of the services agreed upon. They essentially become the middleman and you end up paying extra for the policy. You  can skip that process and save money by calling us directly. We will set you up with the best burial insurance possible at the lowest cost to you, providing maximum benefit for those you leave behind.seniors

Why Should You Get a $20,000 Burial Insurance Policy?

A $20,000 Burial Life Insurance policy is typically the minimum that you’re going to need for burial.  Burials are more costly than cremation and can easily cost between $20,000 and $30,000 for a typical burial service.

A $20,000 burial policy is at the low end of burial costs coverage. It’s important to know what your final cost is going to be and whether a $20,000 burial policy is enough to cover it. You need to assure it’s going to be sufficient.

If it’s going to be a more expensive burial, a more expensive funeral, which is not uncommon, you may need more — perhaps $25,000, possibly $30,000 to meet all of the expenses.

If you’re looking for a larger coverage and you’re exceptionally healthy, then Term Life Insurance might be an option for you. The problem with Term Life Insurance is that it is going to expire and there’s a very high chance you’re going to outlive the policy. If so, then you would need to get burial insurance at an older age, which would be much more expensive.

Term policies are a gamble. Whereas Whole life Insurance and Burial Insurance is not. It’s a guaranteed outcome.

$20,000 Whole Life Insurance Prices!

Here are some of the best Whole Life Insurance prices you can get, as of 4/10/2020, thanks to our shopping algorithm. Please understand, the insurance companies may change their prices at any time, and whatever their current/accurate prices are, THOSE are the prices we will need to choose from.

Ages 50-60   $20,000 Whole Life Insurance Policy

Here we go! These costs reflect ages 50-60 and coverage for $20,000 whole life insurance.

*Most, but not all like insurance companies consider anything with nicotine, as well as *smoked* marijuana to fall within the tobacco category.

*Prices can vary, depending upon the state you live in, as well as your current medical condition

*Labeled premiums are monthly.

Age Male (no tobacco) Male (tobacco) Female (no tobacco) Female (tobacco)
50 $58.15 $73.34 $45.41 $59.88
51 $60.44 $76.47 $47.07 $61.97
52 $32.08 $78.77 $49.82 $65.08
53 $63.73 $84.21 $50.44 $68.40
54 $66.24 $88.87 $52.08 $70.67
55 $68.95 $91.78 $53.71 $74.62
56 $72.40 $95.96 $54.59 $76.76
57 $76.23 $101.20 $56.73 $80.25
58 $77.50 $105.87 $58.25 $81.60
59 $80.10 $110.23 $60.63 $85.21
60 $84.32 $116.07 $62.53 $87.17

 

Ages 61-70   $20,000 Whole Life Insurance Policy

These costs reflect ages 61-70 and coverage for $20,000 whole life insurance.

*Most, but not all like insurance companies consider anything with nicotine, as well as *smoked* marijuana to fall within the tobacco category.

*Prices can vary, depending upon the state you live in, as well as your current medical condition

*Labeled premiums are monthly.

Age Male (no tobacco) Male (tobacco) Female (no tobacco) Female (tobacco)
61 $89.62 $123.35 $65.82 $91.76
62 $96.90 $130.78 $69.75 $96.12
63 $100.16 $138.27 $72.12 $100.60
64 $108.87 $155.87 $78.68 $104.97
65 $113.12 $160.26 $81.99 $110.12
66 $118.60 $170.75 $86.25 $118.47
67 $125.89 $178.79 $90.53 $125.98
68 $130.63 $187.50 $95.12 $131.18
69 $140.77 $198.68 $98.01 $138.12
70 $146.01 $211.52 $103.28 $145.75

 

Ages 71-80   $20,000 Whole Life Insurance Policy

These costs reflect ages 71-80 and coverage for $20,000 whole life insurance.

*Most, but not all like insurance companies consider anything with nicotine, as well as *smoked* marijuana to fall within the tobacco category.

*Prices can vary, depending upon the state you live in, as well as your current medical condition

*Labeled premiums are monthly.

Age Male (no tobacco) Male (tobacco) Female (no tobacco) Female (tobacco)
71 $154.42 $226.81 $109.20 $154.84
72 $164.99 $245.40 $115.45 $170.12
73 $178.70 $265.76 $123.75 $179.23
74 $190.53 $285.10 $138.00 $191.67
75 $206.10 $309.47 $145.12 $205.98
76 $222.75 $330.78 $152.36 $212.99
77 $235.82 $355.12 $160.67 $231.50
78 $252.10 $380.69 $175.13 $244.89
79 $260.12 $392.05 $185.86 $251.35
80 $276.26 $409.33 $193.66 $267.07

 

Ages 81-85 $20,000 Whole Life Insurance Policy

These costs reflect ages 81-85 and coverage for $20,000 whole life insurance.

*Most, but not all like insurance companies consider anything with nicotine, as well as *smoked* marijuana to fall within the tobacco category.

*Prices can vary, depending upon the state you live in, as well as your current medical condition

*Labeled premiums are monthly.

Age Male (no tobacco) Male (tobacco) Female (no tobacco) Female (tobacco)
81 $296.69 $434.43 $209.22 $290.87
82 $310.12 $458.15 $225.00 $320.12
83 $335.37 $529.88 $240.23 $348.47
84 $349.45 $542.12 $253.18 $359.80
85 $382.27 $562.68 $268.60 $381.49

Children’s Whole Life —  Ages 0-17

Children’s whole life has a very low cost. It provides permanent life insurance at a locked rate, for children under the age of 18. These policies are so inexpensive, that we are providing quotes, on this blog, for up to $50,000. These figures/rates are very close approximates, based on age range.

*Prices can vary, depending upon your state and the child’s gender.

*Prices are monthly.

Ages $30,000 $40,000 $50,000
0-4 $10 $13 $16
5-9 $12.40 $16.20 $20
10-13 $14.50 $19 $23.50
14-17 $18.70 $24.60 $30.50

Considering Health and It’s Affect on Life Insurance Prices

Burial InsuranceThere are some assumptions that you need to be aware of when considering purchasing burial insurance pricing. Sometimes life insurance companies will look at your health status to see if you have diabetes, are taking insulin, suffer from neuropathy and even congestive heart failure. Are you wheelchair bound? Are you a smoker? Are you between 50 and 80-years-old? Do you need to breathe oxygen during the day? Have you suffered a recent heart attack?  Are you in remission from cancer?

There are some life insurance companies that will still pair you up with a standard or preferred health rating even if you have health conditions. We know where to find them. Check with us and we’ll go ahead and run it through our life insurance shopping algorithm and see what we can do for you.

Why Choose Protect With Insurance

Burial Life InsuranceWhy choose us? Why do clients like working with us? The feedback we get is that our clients like the great prices and service that we get with the A-Rated life insurance companies we deal with. We are helpful and we’re responsive. People call us and we help them right away. We also provide great resources for our clients. Anytime they have questions, they know they can always call us, email us or text us and we get right back to them.

Our clients and potential customers can also go on our website, ProtectWithInsurance.com. We provide a lot of the information and many answers to their questions in it. The information you want is right there at your fingertips.

Please call us at (928) 323-0933 for help and additional information. Click the links below to learn more.

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Cottonwood, AZ 86326

Chad McMahan

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