1-888-950-TERM to speak with an agent or click here for online final expense life insurance quotes.
***Rates are current as of 08/24/2012***
Some life insurance companies are more competitive at certain ages. Here are some sample rates for final expense life insurance for seniors over 80. An 80 yr old non smoking male in average health can get a $5,000 policy for $686.40/year and an 80 yr old non smoking female in average health can get a $5,000 policy for $524.15/year. These are simplified issue policies that do not require a medical exam. All you have to do is answer a few health questions on the application and then call the insurance company to complete a quick phone interview and you will find out right over the phone if you are approved or declined. If you can answer no to the following questions you will generally be approved
1. Height____________________________ Weight ________________________
2. Do you need assistance with the normal activities of daily living (eating, bathing, dressing, taking medications,
etc.), or are you currently hospitalized, confi ned to a bed or nursing facility, or receiving hospice care?
3. Within the past 12 months have you
a. Been medically diagnosed with internal cancer, leukemia, lymphoma, or melanoma or have had more than one
occurrence of any cancer in your life time (excluding basal or Squamous cell skin cancer), had a recurrence of any
cancer, or currently being treated for cancer or had an amputation caused by any disease or cancer?
b. Been medically diagnosed, treated, or taken medication for stroke or transient ischemic attack (TIA/mini-stroke)?
4. Within the past 24 months have you
a. Been medically diagnosed, treated or taken medication for cirrhosis, liver disease, angina, chronic obstructive
pulmonary or lung disease (COPD/COLD), emphysema, chronic bronchitis, required oxygen to assist in breathing,
or uncontrolled high blood pressure?
b. Been medically diagnosed as having, been treated for or hospitalized for heart disease, Hodgkin’s Disease, heart
attack, heart or circulatory vascular surgery (including coronary artery bypass, pacemaker or replacement pacemaker,
heart valve replacement, abdominal aortic aneurysm, but excluding angioplasty or stent placement) cardiomyopathy,
or any procedure to improve circulation to the heart or brain?
5. Within the past 36 months have you
a. been convicted of a felony or are you currently incarcerated or on probation, been diagnosed or treated by a licensed
member of the medical profession for alcohol or any drugs of abuse, attempted suicide, or been convicted of operating
a vehicle while intoxicated or impaired?
6. Have you ever
a. Been medically treated for insulin shock, diabetic coma, or have you taken insulin injections or by other methods
prior to age 40?
b. Tested positive to exposure to the HIV infection or been diagnosed as having ARC or AIDS caused by the HIV infection
or other sickness or condition derived from such infection?
c. Had, or been medically advised by a member of the medical profession to have, an organ transplant, or been diagnosed
as having a terminal medical condition that is expected to result in death within the next 12 months.
d. Been medically diagnosed, treated, or taken medication for chronic kidney disease (including dialysis), kidney or
liver failure, congestive heart failure, Alzheimer’s, dementia, Lou Gehrig’s disease (ALS), schizophrenia, bipolar
disorder, or mental incapacity?
If you cannot answer no to all of these questions, then we have other plans available which are called guaranteed issue. Guarantee issue final expense life insurance policies generally take anyone without regard to health. Most of them are issued with a graded or modified death benefit, which means they will not pay the full death benefit in the first 2 or 3 years of the policy. What they do is pay a percentage of the death benefit in the first 2 or 3 years or they pay back your cumulative premium plus interest. If the insured lives beyond this initial period and dies afterward the insurance company will pay the full death benefit.
These simplified issue and guaranteed issue low face amount policies go by names such as final expense, burial policy or funeral policy, but they are all basically the same thing, which is a life insurance policy and they are usually a whole life insurance policy. Most seniors over the age of 80 and looking for life insurance are looking for these types of policies with a death benefit amount anywhere between $5,000 to $50,000.
To get your final expense life insurance quotes today please call us at 1-888-950-TERM (8376). You can also use our online life insurance quote engine. Just click here and you can run as many life insurance quotes as you like. You will be taken to an online life insurance quote form. Up at the top of the form you will be able to choose from different types of life insurance. You can choose from term life, universal life or return of premium life. If you are over 80 you are going to want to choose universal life insurance and then proceed to filling out the form. When you get to the level term period drop down box you can choose from different guarantee periods. If you are looking for a lifetime guarantee choose to age 121 level (no lapse U/L). If you are willing to go with a policy that is only guaranteed to age 90 in exchange for a lower premium then choose to age 90 level guaranteed.
I hope this post has been helpful to you. If you have any questions, please call us at 1-888-950-8376 to speak to a licensed life insurance specialist or you can email us at email@example.com.