The Best, Low Cost Whole Life Insurance

Kim Wilhelm CEO of Final Expense Direct Life Insurance
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Written by Kim Wilhelm

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Last Updated 03 Dec 2022

How can you get the best, low cost whole life insurance if you’re a senior? You might think you’re too old to get cheap whole life insurance, or worry your health will get you denied.

At Final Expense Direct, we work with seniors of all ages and health statuses to find the best, low cost whole life insurance policies. Seniors can benefit from final expense whole life insurance, which is especially for God fearing Americans who are retired or close to it. Even if you’re younger, we can help you find the cheapest rates for lifetime coverage.

Here’s how to get the best whole life insurance for adults.

How to Get the Best, Low Cost Whole Life Insurance at Any Age

When you’re shopping for whole life insurance, the cost can make a big difference in which policy and company you go with. Final expense whole life insurance lasts for your lifetime, so you want to make sure you can afford to pay the premiums for the rest of your life. Your pricing depends on several factor

Age

The younger you are, the cheaper it will cost for whole life insurance. If you’re a senior and think you’ve missed getting the cheapest rates, don’t worry, but act fast. Getting coverage before your next birthday can help you lock in lower rates than if you waited any longer.

That’s why we always recommend final expense insurance to seniors. This whole life insurance plan is made especially for your age group, so you can get affordable coverage that works with your budget. 

Call us at Final Expense Direct so we can shop for you. Our agents will ask you a few questions and then you’ll be on your way to getting the best whole life insurance for seniors at a low cost.

Here are some whole life insurance rates by age chart to give you an idea of what it might cost for final expense insurance:

Coverage Needs

The amount of coverage you need directly affects how much you’ll pay for whole life insurance. The more coverage you need, the more you’ll pay.

Whole life insurance covers permanent needs, like final expenses and funeral or cremation costs. That’s why final expense whole life insurance is often called funeral insurance or burial insurance.

The median cost of a funeral with burial and viewing is around $8,800. A cremation with viewing costs less, around $6,600. But the more extras you want, the more your funeral costs increase. And what about other final expenses, like end-of-life medical costs?

If you’re not sure how much coverage you need, reach out to us at Final Expense Direct. We can help you decide the right coverage amount and get you quotes for final expense insurance

Most people hang up with an approved policy in place, even if they had no idea what coverage they needed when they called in.

Want an idea of rates before you contact us? Check out sample rates for different coverage amounts for seniors:

Health Status

Just like your age and coverage, the healthier you are, the cheaper your cost for whole life insurance. It’s common for seniors to have at least one health issue, which is why final expense funeral insurance is a great solution. 

With final expense burial insurance, you don’t have to worry about a medical exam. You just have to answer a few health questions to be approved. 

If you’re in poor health, overweight, or have multiple health issues, you might not get approved for a simplified issue final expense policy with health questions. But that’s okay, because there’s another option available.

Guaranteed issue whole life insurance doesn’t have any health questions or medical exam. Though this means it’s more expensive than simplified issue whole life, you’re also guaranteed to be accepted. While not the cheapest solution, it gives you the coverage you need if your family can’t afford to pay for your funeral and final expenses.

We work with some of the best final expense life insurance companies in the nation. Find out more about the companies we work with here:

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FAQ The Best, Low Cost Whole Life Insurance


What is the Best Company to Purchase Whole Life Insurance?

The best company to purchase whole life insurance is different for everyone. You should consider what’s most important to you, whether it’s price, coverage customization, or the company’s financial strength. Shopping for quotes can help you find the best rates for whole life insurance. Contact Final Expense Direct today so we can do the shopping for you at no cost to you.

Which Life Insurance is Best and Cheapest?

Term life insurance is usually the cheapest, but it might not be the best, especially if you’re a senior. The best way to get the cheapest life insurance is to get it when you’re young and healthy. But if you’re a senior, your health and coverage needs typically determine which life insurance is best and cheapest. Whole life insurance may be your best option, since it provides lifelong coverage at a fixed rate.

How Much is a $50000 Whole Life Insurance Policy?

How much a $50,000 whole life insurance policy costs varies by the company, your age, health, lifestyle, coverage amount, and tobacco usage. Because each company has their own guidelines, it's best to shop around to get quotes for a $50,000 whole life insurance policy to find out which policy is the cheapest. Call us at Final Expense Direct so we can help you find the best and cheapest $50,000 whole life insurance policy.

Can I Get Life Insurance at 62?

Yes, you can get life insurance at 62. In fact, you can get life insurance at almost any age. Just keep in mind that the older you are, the more expensive life insurance is. And if you’re in poor health, you may only qualify for guaranteed issue life insurance, which is even more expensive. 

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Does AARP Have Whole Life Insurance?

Yes, AARP has whole life insurance through a partnership with New York Life. Find out why we don’t recommend AARP, and who we recommend instead.

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