This plan can offer competitive pricing for people who may want to get burial coverage quickly, with the option to add on riders for accelerated death benefits if you need nursing care, accidental death benefits or children’s or grandchildren’s benefits to provide level term coverage for up to nine individuals. Fortunately, AARP makes it easy for its members to get a free quote online after providing some basic information and answering one simple health question.While the actual price of burial insurance will vary, here are some basic quotes offered on the company website. One way you can plan for those expenses is to purchase a burial insurance plan. We reached out to Colonial Penn to get quotes for their burial insurance, and all of the following policies priced at $79.60 per month (8 units):It is possible to get one unit of coverage for $9.95 with a limited death benefit.Guaranteed acceptance for individuals aged 45 to 85AAA offers burial insurance coverage for individuals who are between the ages of 45 and 85. In terms of speed, it takes two minutes or less to get a quote for coverage and it’s possible to get coverage in as little as 24 hours. This coverage has a 2-year wait on full payout the death benefit and the price … Your acceptance is guaranteed if you’re between the ages of 50 and 80 and if you don’t have to endure a medical exam or fill out a lengthy health questionnaire. There is a two-year waiting period, which means that if you pass away within the first two years, your beneficiary would only receive a benefit amount equal to the premiums you’ve paid, plus 10%.
(If you live in New York, the age range shrinks a little, to 50 to 75.) We also reference original research from other reputable publishers where appropriate. Mutual of Omaha offers smaller burial insurance policies, with coverage starting as low as $2,000 ($5,000 in Washington State). Burial insurance technically could be used for any type of expense, but it’s designed to cover the cost of these final, end of life expenses. Many companies also have a frequently asked questions (FAQ) section or a page with queries such as, “Will my burial insurance expire?”How much you’ll pay for burial insurance can vary by quite a bit depending on your age, gender, and overall health. You can learn more about the standards we follow in producing accurate, unbiased content in our Best Overall: AARP Easy Acceptance Life Insurance Best Membership Discount: AAA Life Insurance Company This jumps to $251 and $209 for a 75-year-old.No medical exam and no waiting period for coverage to startYou do have to answer health questions to get coverage, and your answers can impact your monthly premiumFidelity Life offers RAPIDecision® Final Expense coverage intended to help individuals pay for the price of burial and other final expenses. Nearly identical to graded death benefit coverage, guaranteed acceptance approves all health conditions. Not only does the company let you apply for a free quote by providing limited information online, but it also has a chart of average premiums based on gender and age displayed prominently on its website.With Mutual of Omaha, you don’t have to complete a medical exam or answer any pressing medical questions. Further, coverage is lifelong and does not expire as long as you continue living and paying premiums until age 100, at which point you no longer need to but are still covered.While you don’t have to be an AAA member to buy this coverage, an annual fee of $60 for your policy is waived if you are an AAA member. Your agent will gather all the information about your health to determine what companies will offer you.
It doesn’t get any easier than that to get burial expense coverage with minimal fuss. During one of these meetings, you’ll sit down with a Burial insurance is typically “guaranteed issue,” meaning you cannot be denied for coverage, nor can your policy be canceled for medical reasons. If burial insurance is a missing piece of your financial plan, consider these companies for getting the coverage you need to AARP isn’t an insurance company; it’s an interest-based group designed to empower and guide Americans as they age.
Investopedia requires writers to use primary sources to support their work. When you’re looking for a final expense policy, consider the following factors: Guaranteed issue. AIG Direct’s Guaranteed Issue Whole Life policy is designed to help with final expenses while also covering you for chronic and terminal illness. By using The Balance, you accept our You can apply for a policy online and no medical exam is required. Globe Life may fit the bill if you’re looking for a bargain on a burial insurance policy. The maximum policy coverage is $25,000, although it may be possible to increase that further by speaking to a Mutual of Omaha representative. This increases to $252 and $182.96 for a 75-year-old.Broad coverage amounts from $5,000 to $100,000 availableYou can’t get a quote without providing considerable personal informationGlobe Life offers burial insurance with a lot of flexibility and choices.