Senior Life Insurance Quotes & Information: The Complete Guide for 2025
What is Final Expense life insurance is probably the first question that people normally ask. Final Expense, otherwise known
as Burial Insurance, will provide you with the peace of mind that all your remaining expenses will be paid.
This type of coverage is also known as senior life insurance.
This will completely relieve the burden of any family member being obligated to pay your final financial liabilities.
Carefully choose the right carrier and plan design so you can rest assured that your burial insurance will be properly in place, and as a result, you will make life a little easier for the members of your family that you leave behind.
One way to do that is to begin with an experienced, independent life insurance agent who can explain all your options. With that being said, applying for and getting approved for a new final expense life insurance policy should be simple.
Table of Contents
What Is Senior Life Insurance?
There are several names for these senior products but they virtually mean the exact same thing. Don’t let this confuse you.
Final expense is simply a permanent form of life insurance that is intended to help seniors cover funeral costs and other expenses that they may leave behind after their demise.
There are several names for this form of life insurance, including Final Expense, Burial Insurance and Funeral Insurance. A good way to look at these plan designs is that they are, in other words, No Medical Exam Life Insurance for Seniors.
The terminology may even vary between life insurance companies, but when the smoke clears, they all do the same thing, which is to cover an individual’s final expenses such as funeral services, cremation and burial costs. Often, these policies also cover hospital bills, doctor bills and nursing home expenses after a person passes.
Don’t be confused: Senior Life Insurance is commonly referred to as Final Expense Life Insurance, Burial Life Insurance, Funeral Expense Life Insurance or just plain Funeral Insurance among a few others.
Connect With an Independent Insurance Agent to Find the Best Rates
Independent insurance agents and brokers have the advantage of shopping the entire insurance market. They will make sure you always apply with the carriers that have the lowest rates and the best benefits.
Captive agents such as State Farm work for their one and only insurer and always have their company’s best interest in mind. Locating the best Senior Life Final Expense Insurance can be performed in just minutes.
Independent agents work for themselves and have their clients’ best interests in mind. Just as an example, we are independent insurance agents that are contracted with over 40 of the highest rated insurance companies in America.
Benefits of Working With an Independent Insurance Agent: YouTube Video
Common Questions & Answers:
Q. How Does Final Expense Life Insurance Work?
A. These plans work just like conventional life insurance does. You pay the premiums and the face amount (death
benefit) is paid to your beneficiary. The only difference is that these plan designs normally have lower death benefits and have no medical exam required.
These plans work great for older Americans who just want to cover any existing debts that they owe. Some of these plans also offer guaranteed acceptance regardless of your current health.
Q. How Can I Compare Life Insurance for Seniors?
A. All of the best final expense quotes can be easily compared using our quoting system on the right side of this blog post. All of the most competitive senior life insurance quotes can be viewed instantly after completing the quoting form and then clicking the “Get Quotes Now” button.
Remember that these comparisons will also follow under the terminology as burial life insurance for seniors also. Many people get confused by all the various names for these plan designs when the reality is that they mean the same thing.
Another option is to contact us and we will do the legwork for you right over the phone. Run our quoting system and compare all of the many senior life insurance quotes and see for yourself.
Q. Is Burial Life Insurance Worth Buying?
A. Approximately 90% of people who have purchased these low-cost life insurance policies are finding them to be a very good investment for the future. They now have the peace of mind that their spouse or children will not have any financial obligations to pay their remaining debts.
For a very affordable monthly premium, they will now have the knowledge that their burial insurance policy will cover all the expenses of today’s costly funerals.
Q. What Are the Best Final Expense Life Insurance Policies?
A. There is no specific answer to this question because there are many variables to the plan design that would work best for you. There are many final expense insurance companies to choose from and they all have their own plan designs.
The best policy for you can be easily determined by talking to an experienced independent insurance agent that specializes in life insurance coverage. Our agents can help you find the best final expense life insurance for seniors within a matter of minutes.
Q. What Is Life Insurance With No Waiting Period Required?
A. This is an important question to be able to understand. If you purchase a Guaranteed Issue, otherwise known as a Guaranteed Acceptance policy, you will be guaranteed coverage. There is normally a two-year waiting period for the face amount to be paid out if you die before the first two years of the policy anniversary.
Keep in mind that these policies can be issued to people with terminal diseases such as advanced cancer or heart disease. If you do happen to die two years before your policy anniversary, your policy will pay out all the premiums you paid in plus accrued interest.
Final expense life insurance with no waiting period would normally be a Simplified Issue policy that has very few questions on the application that would indicate you do not currently have a terminal medical condition. This would allow you to have a policy with a larger face amount and no waiting period.
Q. Do Guaranteed Issue Policies Require a Medical Exam?
A. There is absolutely no medical exam required when applying for a policy.
Q. What is the Difference Between Final Expense and Conventional Term Life Insurance?
A. Keep in mind that final expense life insurance is a form of life insurance just like Universal and Whole Life. A final expense policy is simply a policy designed to pay off a person’s remaining expenses and normally has a lower death benefit. They also have a very brief application process and can be issued within 24-48 hours.
Q. How Can I Compare Rates for Senior Life Insurance?
A. One of your options is to compare term life insurance for seniors on our instant life insurance quote engine. You will be able to compare approximately 40 of the most competitive companies in the nation along with their premiums.
Policy Plan Designs, Issue Ages and Applications
The plan designs are going to be different than the conventional Term life policies you are used to, which is just a simple learning curve.
Policy plan designs are based on permanent life insurance policies known as Final Expense Whole Life Insurance.
These
policies never terminate like Term Life Insurance does as long as you keep paying the premiums. This means there will never be a gap in coverage.
These policies usually have a smaller face amount, also known as a death benefit, which usually does not exceed more than $35,000.00. If you are in good health, you can get a higher death benefit by choosing a Simplified Issue plan
The age range for burial insurance policies is most commonly between the ages of 50 and 85 years old. Premiums for these final expense policies are usually very affordable but can get costly for those in the upper age category, such as when purchased when someone is in their sixties, seventies or even eighties.
Permanent life insurance always costs more than term insurance does. Whole life policies can easily cost several times the cost of term life insurance products. The issue age for these burial insurance policies is between the ages of 50 and 85 years old.
Final expense applications are simple to apply for because there is no medical exam required and many have guaranteed insurability which means an individual with serious health conditions such as cancer or heart disease can easily purchase a policy. The turnaround time for an application can be within several days or even immediate approval.
The Most Common Types of Final Expense Life Insurance
Understanding the two basic types of burial insurance for seniors is very important. There are considerable differences in cost and death benefit options.
Simplified Issue:
The first type of burial insurance is referred to as Simplified Issue Life Insurance.
Simplified Issue products are a great choice for people that are in basically good health and do not have any serious or terminal illnesses.
This is the best option to cover all the expenses you leave behind.
The Simplified Issue application only includes a few basic health questions and no medical exam is ever required. The face amount for the Simplified Issue policy normally goes as high as $35,000.00 but they can go higher depending on the carrier.
Guaranteed Issue:
Guaranteed Issue versions of coverage, otherwise known as Guaranteed Acceptance, would be the logical choice if your age exceeds the requirements of Simplified Issue or if you have a serious or terminal medical condition.
Regardless of how severe your health is, you will be able to qualify for the Guaranteed Issue version of Burial Insurance. Face amounts, otherwise known as death benefits, are usually limited to a maximum of $25,000.00.
If you are in fairly good health, a simplified issue plan is the way to go. Guaranteed Acceptance plans will cost more and death benefit options will be lower.
Benefits of Final Expense for Seniors
Burial insurance policies are built on permanent insurance policies, and there will be more benefits incorporated into these types of policies.
Unlike term insurance, final expense life insurance is a member of the permanent type of life insurance family that can
build cash value over the years.
These types of policies allow you to even borrow from their cash value during your life or use it as a form of collateral for financial loans. Final Expense Plans are built on a whole-life chassis.
This will give you another way to pay off any debt as you see fit. Level premiums that never increase and a guaranteed protection of coverage as long as you pay the premiums.
Burial insurance also has a death benefit that you can use for any type of expense which may be used for medical bills, credit card debt, funeral costs or just a simple burial cost or cremation.
Final Expense Life Insurance companies pay out death benefits quickly so the family members that you leave behind do not have to worry about paying off your final debts. This gives you complete peace of mind for your financial security.
What Are the Best Senior Life Insurance Companies?
There is no best company for everyone. It all depends on age, health history, and the death benefits being requested.
This is just a list of some of the best and most recognized carriers that offer these policies. These companies
have a proven track record of being in excellent financial condition, have very competitive rates and pay claims promptly.
The companies are being displayed with their “coverage options,” “applicant age range” and “type of policies.”
Mutual of Omaha:
Benefit Options $2,000 – $50,000 | 40-85 years of age | Simplified Issue
Transamerica:
Benefit Options $1,000 – $50,000 | 40-89 years of age | Simplified Issue
Forester Financial:
Benefit Options $5,000 – $35,000 | 50-85 years of age | Simplified Issue
Aetna:
Benefit Options $2,000 – $50,000 | 40-89 years of age | Simplified Issue
Royal Neighbors of America:
Benefit Options $7,000 – $30,000 | 50-85 years of age | Simplified Issue
Americo:
Benefit Options $5000 – $40,000 | 40-85 years of age | Simplified Issue
Liberty Bankers Life:
Benefit Options $3,000 -$40,000 | 18-80 years of age | Simplified Issue
AIG American General:
Benefit Options $5,000 – $25,000 | 50-80 years of age | Guaranteed Acceptance
Gerber Life:
Benefit Options $5,000 – $25,000 | 50-80 years of age | Guaranteed Acceptance
*These companies above are just a sample of some of the burial insurance carriers on the nationwide market.
To determine the best company for your specific needs, you will want to discuss this with an experienced independent agent. There is no cost or obligation for their service.
How Do I Compare Final Expense Life Insurance Rates?
Thanks to the modern quoting systems, comparing companies along with their rates is very simple and quick.
This is probably the easiest part of your search for the best Final Expense Life Insurance coverage. You will see a quote form to the right of this blog post. Just complete the basic questions and then press the “Get Quotes Now” button and you will see a full list of the most competitive carriers along with their premiums based on the information you provided.
Once you have reviewed all the premiums and plan designs, you can contact us for a complete explanation and we will give you our best recommendations for the best company and plan design to apply for, nothing could be more simple. You can compare final expense quotes from all the best insurers within minutes.
Our Final Thoughts
If you are shopping for final expense life insurance for seniors, we can help you get the best plan design, carrier and the lowest rates available. There is never any cost to apply, and there is no obligation for our help.
We work with the most competitive companies to provide the best rates and approvals for our valued clients.
You probably have a lot of questions and probably find a lot of this confusing. It is time to grab your phone and call us or send us an email.
You may contact us seven days a week and we will explain everything in detail and remove all the mystery concerning the best life insurance for seniors. Thank you for visiting our website and reading this blog post; I hope it has answered many of your questions.
All the best,
Jack Venturi
Should you have any questions or need further assistance, please don’t hesitate to call us at 815-390-7545 for a prompt response.
