Written by Kim Wilhelm
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Last Updated 16 Apr 2024
Some seniors wake up one day and realize they still need some life insurance. If you’re panicking because your term life insurance has expired and you think you can’t get coverage at your age, you don’t need to worry!
While some younger seniors can still qualify for term life insurance, it’s not always the best option. If you’re buying life insurance as a senior, you probably need the coverage to last your entire life, not just a few years.
With senior term life insurance, you can usually only qualify for up to 15 years in coverage. If you outlive your term life insurance again, then you’re back at the same point you’re at right now.
The better solution for senior life insurance is final expense insurance. You don’t have to complete a medical exam to get covered, and you can get approved in just one phone call.
Whether you’re looking to get more life insurance or are just realizing you need to get coverage for the first time, Final Expense Direct is here to help. We work with seniors of all ages and health conditions to get life insurance coverage in the amount they need, whether it’s $20,000, $22,000, or $24,000.
- Great Western: Best for Seniors in Poor Health
- Liberty Bankers Life: Best for Overweight Seniors
- Mutual of Omaha: Best for Cheap Senior Life Insurance
- Pioneer American: Best for Seniors with Multiple Health Conditions
- The Baltimore Life Companies: Best for Healthy Seniors and Smokers
The Best $20,000 Final Expense Insurance Policy by Age
Seniors can get a final expense insurance policy at any age, but the sooner you get it, the cheaper the rates are. Though final expense insurance is usually sold to seniors, some companies, like Liberty Bankers Life, offer it to anyone over the age of 18.
Final expense insurance is whole life insurance that locks your price and coverage amount for the rest of your life. You can get any dollar amount you need, even if it’s $21,000 or $23,000.
If you’re wondering how much senior life insurance costs at 50, 60, or 70 years old, check out the tables below to get an idea how much you could pay for final expense insurance from different companies.The Best $21,000 Funeral Insurance Policy by Coverage Needs
Along with your age, your coverage needs for a funeral insurance policy will determine how much it costs. Final expense insurance is often called funeral insurance because most seniors buy it to pay for their funeral expenses.
Would you like to remove any financial burden from your family and loved ones having to pay for your end-of-life expenses?
How would you feel if you could pay for your entire funeral plus other debts?
If you answered yes to either of these questions, a funeral insurance policy can make that happen.
The median cost for a basic funeral with burial and viewing is around $8,800, but it can easily cost $10,000 or more if you want a grave marker or specific casket. If you want your funeral insurance policy to pay for your funeral and possibly more, buying a $21,000 or higher final expense policy will pay for it.
If you’re unsure of your coverage needs, let Final Expense Direct help you figure it out. Call us today and we’ll help you figure out how much life insurance you need and help you get approved before we hang up the phone.
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The Best $22,000 Burial Insurance Policy by Health Status
Some seniors worry they can’t qualify for a burial insurance policy because of their health status.
The good news is, no matter what your health looks like, you can get approved for final expense burial insurance.
The great thing about burial insurance is you don’t have to worry about a medical exam. Depending on your health status, you can answer a few health questions to get a better rate with most companies.
And you don’t have to figure out which company will offer the best rate based on your health status. Just call us and we’ll ask you a few health questions to find the best company with the cheapest rate for you.
What’s the Best $23,000 Whole Life Insurance Policy for Seniors I Can Get with Poor Health?
But if you’re in poor health or have multiple pre-existing conditions, you can get a whole life insurance policy for seniors without answering any health questions. Companies like AIG and Great Western offer guaranteed senior life insurance coverage that you will be approved for as soon as you complete the application.
Just call us at Final Expense Direct. We’ll complete the application right over the phone and get you approved before we hang up.
What Does a $20,000 - $24,000 Life Insurance for Seniors Policy Cost?
How much does a life insurance for seniors policy cost? The cost depends on your age, health status, and the company.
The tables below show you example rates for 50, 60, and 70 year old males and females for 7 different companies. The rates are for healthy seniors who don’t smoke and are for coverage amounts:
$20,000
$21,000
$22,000
$23,000
$24,000
Once you’re ready to get approved for senior life insurance, call Final Expense Direct. Our agents are ready to provide not only a life insurance policy, but peace of mind to you and your loved ones that you’ll be covered when the Good Lord is ready to call you home.
The Best $20,000 Final Expense 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 |
$70 | $53 | $110 | $83 | $192 | $137 | |
$69 | $58 | $114 | $83 | $210 | $145 | |
$58 | $45 | $84 | $63 | $146 | $103 | |
$61 | $51 | $91 | $74 | $155 | $118 | |
$65 | $55 | $88 | $68 | $156 | $115 | |
AIG* | $110 | $80 | $149 | $119 | $233 | $177 |
$94 | $78 | $119 | $104 | $190 | $162 |
*These carriers offer guaranteed issue life insurance with no health questions
The Best $21,000 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 |
$74 | $57 | $116 | $88 | $202 | $144 | |
$72 | $61 | $119 | $87 | $220 | $152 | |
$61 | $47 | $88 | $66 | $153 | $108 | |
$64 | $53 | $96 | $78 | $163 | $124 | |
$68 | $57 | $92 | $71 | $164 | $120 | |
AIG* | $115 | $84 | $156 | $125 | $244 | $186 |
$98 | $82 | $125 | $109 | $199 | $170 |
*These carriers offer guaranteed issue life insurance with no health questions
The Best $22,000 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 |
$77 | $59 | $121 | $92 | $211 | $151 | |
$75 | $63 | $125 | $91 | $231 | $159 | |
$64 | $49 | $92 | $69 | $160 | $113 | |
$67 | $56 | $100 | $81 | $170 | $130 | |
$71 | $60 | $96 | $74 | $171 | $126 | |
AIG* | $121 | $88 | $164 | $131 | $256 | $194 |
$103 | $85 | $131 | $114 | $208 | $178 |
*These carriers offer guaranteed issue life insurance with no health questions
The Best $23,000 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 |
$81 | $62 | $127 | $97 | $221 | $157 | |
$79 | $66 | $130 | $94 | $241 | $166 | |
$66 | $52 | $97 | $71 | $168 | $118 | |
$69 | $58 | $105 | $85 | $178 | $135 | |
$75 | $62 | $101 | $78 | $179 | $131 | |
AIG* | $126 | $91 | $171 | $136 | $267 | $203 |
$107 | $89 | $136 | $120 | $218 | $185 |
*These carriers offer guaranteed issue life insurance with no health questions
The Best $24,000 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 |
$84 | $64 | $132 | $101 | $230 | $164 | |
$82 | $68 | $136 | $98 | $252 | $173 | |
$69 | $54 | $101 | $74 | $175 | $123 | |
$72 | $61 | $109 | $88 | $185 | $141 | |
$78 | $65 | $105 | $81 | $186 | $137 | |
AIG* | $132 | $95 | $179 | $142 | $279 | $211 |
$112 | $92 | $142 | $125 | $227 | $193 |
*These carriers offer guaranteed issue life insurance with no health questions
Related:
The Lord Is Calling Me Home - What Happens If You Die With No Money And No Life Insurance?
