(No Exam) The Best $10,000 Life Insurance For Seniors Policies

No Exam - The Best $10,000 Life Insurance for Seniors Policies
Kim Wilhelm CEO of Final Expense Direct Life Insurance
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Written by Kim Wilhelm

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Last Updated 24 May 2022

Are you a senior looking for $10,000 or more in life insurance coverage? Worried you won’t get approved, or you can’t afford the coverage you need?

Though some companies want to lure you in with cheap term life insurance rates, the fact is, most seniors won’t qualify. And if they do, the coverage only lasts 10 years.

Why pay for life insurance you might outlive? It’s like throwing money down the drain! And when you’re on a fixed income, every penny counts.

The better choice is final expense life insurance. This whole life insurance for seniors locks in your rates at the age you are now, and will never increase. Your coverage will also stay in place until you die, which is when your beneficiary can collect the death benefit.

Final Expense Direct works with a long list of final expense companies to offer you competitive rates, no matter if you need $11,000, $12,000, or even $14,000 or more in life insurance.

And the best part is — we do all the shopping for you! Just call our agents, answer a few questions, and we’ll help you find the right final expense plan.

Baltimore Life: Best for Senior Smokers

Great Western: Best for Seniors in Poor Health

Mutual of Omaha: Best for Cheapest Senior Rates

Pioneer American: Best for Seniors with Multiple Health Conditions

Prosperity: Best for Seniors on Social Security

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The Best $10,000 Final Expense Insurance Policy by Age

When buying final expense insurance as a senior, your age makes a big difference in the price, whether you’re getting a $10,000 or $13,000 policy. The sooner you buy life insurance, the cheaper it will be.

We often refer to final expense life insurance as burial insurance or funeral insurance. This is because most seniors buy it to pay for their funeral and other final expenses. 

Once you calculate your final expense needs, you might find you need $11,000, $12,000, or even more in coverage. Whatever the amount is, let Final Expense Direct help you find the best policy for the cheapest price.

Mutual of Omaha offers some of the cheapest senior rates, no matter what age you are. However, you have to be healthy to qualify and they have strict underwriting. That might mean you’ll be declined.

The next best choice for cheap senior final expense rates is Pioneer American. This company works with seniors with multiple pre-existing conditions and has more lenient underwriting, so more seniors can qualify at affordable rates.

What is the Best $11,000 Whole Life Insurance Policy for Seniors by Coverage Needs?

Seniors have different financial situations, so some may only need a little bit of whole life insurance coverage while others need more. You might only need $11,000 or $14,000 might work better. You could even need more than that.

If you’re not sure how much coverage you need, let Final Expense Direct help you figure it out. Our agents are ready to answer your questions and ask you a few to understand how much coverage you need.

Final expense life insurance for seniors can pay for:

  • Debt

  • End-of-life expenses

  • Supplemental income for your spouse

  • Your funeral, burial, or cremation

You can also leave a legacy for future generations. The choice is yours. Call Final Expense Direct today to find out how much coverage you can qualify for.

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The Best $12,000 Burial Insurance Policy by Health Status

Another factor burial insurance policy companies consider is your health status. If you’re relatively healthy, you should have no problem qualifying with most companies.

But if you have some health issues, it can be harder to get coverage. Rather than apply and risk getting denied, you can work with Final Expense Direct to get approved the first time you apply. We know our carriers and what their guidelines are, so we can give you the best chance of getting approved right away.

Smokers can get very competitive rates with The Baltimore Life Companies. And if you have multiple pre-existing conditions, Pioneer American may be a better fit.

If you’re in poor health and can’t qualify for these companies, you have two other options: AIG and Great Western. These companies don’t ask any health questions like the other companies. You’re guaranteed to be approved, which is why it’s called guaranteed issue final expense life insurance for seniors.

The Best $13,000 Final Expense Insurance Policy by Price 

Being on a fixed income can make price the most important factor for a senior of any age, and it could dictate how much final expense insurance coverage you can afford. 

If you depend on social security benefits as your primary income, Prosperity Life Group is one of the few carriers that accepts payments with a Direct Express card.

Though Mutual of Omaha has some of the cheapest rates, you might get a cheaper price with another company. There are several factors that determine how much you’ll pay for funeral insurance, and how much you can qualify for.

That’s why we make it so easy to work with our agents at Final Expense Direct. Whether price, age, health status, or coverage needs are your top priority, we can get you covered. Most seniors can get approved and have a burial insurance plan in place in just one phone call.

What Does a $10,000 - $14,000 Life Insurance for Seniors Policy Cost?

Now, how much does it cost for a $10,000, $11,000, $12,000, $13,000, or $14,000 life insurance for seniors policy?

We have sample rates for 7 final expense companies below for each coverage amount. Rates are for 50, 60, and 70 year old men and women who don’t smoke and are in good health.

None of these carriers require a medical exam to get covered. Health questions vary, and while these rates can give you an idea of what you’ll pay, it may be different based on your age and health status.

The Best $10,000 Burial Insurance Policy for Seniors (No Exam)

Company

50 yr male

50 yr female

60 yr male

60 yr female

70 yr male

70 yr female

Baltimore Life

$35

$27

$55

$42

$96

$68

Liberty Bankers

$37

$31

$59

$44

$107

$75

Mutual of Omaha

$31

$24

$44

$33

$75

$53

Pioneer American

$32

$27

$47

$38

$79

$60

Prosperity

$35

$29

$48

$36

$80

$59

AIG*

$56

$39

$68

$54

$106

$80

Great Western*

$48

$40

$61

$54

$96

$82

*These carriers offer guaranteed issue life insurance with no health questions

The Best $11,000 Final Expense Insurance Policy For Seniors (No Exam)

Company

50 yr male

50 yr female

60 yr male

60 yr female

70 yr male

70 yr female

Baltimore Life

$39

$30

$61

$46

$105

$75

Liberty Bankers

$40

$34

$65

$48

$117

$82

Mutual of Omaha

$34

$26

$48

$36

$51

$58

Pioneer American

$35

$29

$51

$42

$87

$66

Prosperity

$38

$32

$50

$39

$88

$65

AIG*

$61

$43

$75

$59

$116

$88

Great Western*

$53

$44

$67

$59

$105

$90

*These carriers offer guaranteed issue life insurance with no health questions

The Best $12,000 Funeral Insurance Policy For Seniors (No Exam)

Company

50 yr male

50 yr female

60 yr male

60 yr female

70 yr male

70 yr female

Baltimore Life

$42

$32

$66

$50

$115

$82

Liberty Bankers

$43

$37

$70

$52

$129

$89

Mutual of Omaha

$36

$28

$52

$39

$58

$63

Pioneer American

$38

$32

$56

$45

$94

$72

Prosperity

$41

$34

$54

$42

$95

$70

AIG*

$67

$46

$81

$64

$127

$96

Great Western*

$57

$48

$73

$64

$115

$98

*These carriers offer guaranteed issue life insurance with no health questions

The Best $13,000 Final Expense Whole Life Insurance For Seniors Policy (No Exam)

Company

50 yr male

50 yr female

60 yr male

60 yr female

70 yr male

70 yr female

Baltimore Life

$46

$35

$72

$55

$124

$89

Liberty Bankers

$47

$39

$76

$55

$138

$96

Mutual of Omaha

$39

$31

$56

$42

$65

$68

Pioneer American

$40

$34

$60

$49

$102

$77

Prosperity

$44

$37

$59

$46

$103

$76

AIG*

$72

$50

$88

$70

$137

$104

Great Western*

$62

$51

$78

$69

$124

$106

*These carriers offer guaranteed issue life insurance with no health questions

The Best $14,000 Life Insurance For Seniors Policy (No Exam)

Company

50 yr male

50 yr female

60 yr male

60 yr female

70 yr male

70 yr female

Baltimore Life

$49

$37

$77

$59

$134

$96

Liberty Bankers

$50

$42

$81

$59

$149

$103

Mutual of Omaha

$41

$33

$60

$45

$72

$73

Pioneer American

$43

$37

$65

$52

$109

$83

Prosperity

$47

$39

$63

$49

$110

$81

AIG*

$78

$53

$94

$75

$148

$112

Great Western*

$66

$55

$84

$74

$137

$114

*These carriers offer guaranteed issue life insurance with no health questions

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