$10,000 Whole Life Insurance for Seniors & Costs
Posted in Burial Insurance last updated on November 16, 2023If you need a $10,000 whole life insurance policy look no further. We specialize in this type of insurance, especially for seniors wanting to make sure their cremation, funeral, and burial are covered so their family is not stuck with a big bill of $10,000 or more depending on the funeral.
This is the whole point about final expense life insurance. Making sure you have the right policy at your specific age with a proper death benefit to reflect the cost of the funeral. In addition to this you will always see different marketing terms for $10,000 whole life insurance like “regulated by state” or “burial insurance” etc.
It’s all the same thing, permanent life insurance with no medical exam required to provide a quick payout to your family at an affordable monthly premium.
In this article we will cover everything you need to know about a $10,000 whole life insurance so your family is protected when you die.
Table of contents
- $10,000 Whole Life Insurance Cost Sample Rates
- $10,000 Whole Life Insurance What is it, How Does it Work?
- How much Does a $10,000 Whole Life Insurance Policy Cost?
- Best Companies to Purchase a $10,000 Whole Life Policy With
- Worst Life Insurance Companies for a $10,000 Whole Life Policy
- Do not Buy Term Life Insurance
- 10,000 Life Insurance for Seniors Q&A
$10,000 Whole Life Insurance Cost Sample Rates
Below you are going to see quotes from our quoting tools that will show you how much a $10,000 whole life insurance policy for final expense costs on average.
These rates are extremely accurate and will help you with making your informed decision on purchasing a $10,000 final expense whole life insurance policy. We have included the costs of a $10,000 whole life policy from young adults to seniors all the way up to age 90.
In addition to this, you will also see the recommended life insurance companies available to you according to your age to purchase the $10,000 funeral insurance.
| Age | $10,000 Male Non Smoker | $10,000 Male Smoker | $10,000 Female Non Smoker | $10,000 Female Smoker |
|---|---|---|---|---|
| 19 | $12.87 | $16.59 | $12.03 | $13.74 |
| 20 | $13.19 | $17.02 | $12.13 | $15.40 |
| 21 | $13.50 | $17.46 | $12.74 | $17.02 |
| 22 | $14.17 | $18.18 | $13.06 | $17.05 |
| 23 | $14.54 | $18.51 | $13.77 | $17.08 |
| 24 | $15.43 | $19.19 | $15.16 | $17.10 |
| 25 | $15.95 | $20.00 | $15.28 | $17.39 |
| 26 | $16.28 | $20.83 | $15.40 | $17.69 |
| 27 | $16.61 | $21.75 | $15.51 | $17.95 |
| 28 | $16.92 | $22.15 | $15.61 | $18.22 |
| 29 | $17.25 | $22.54 | $15.73 | $18.48 |
| 30 | $17.57 | $23.07 | $16.09 | $19.06 |
| 31 | $17.97 | $23.60 | $16.45 | $19.66 |
| 32 | $19.84 | $24.25 | $16.79 | $20.21 |
| 33 | $20.34 | $25.00 | $17.12 | $20.75 |
| 34 | $20.93 | $25.83 | $17.45 | $21.28 |
| 35 | $21.53 | $26.59 | $17.99 | $21.89 |
| 36 | $22.14 | $27.37 | $18.54 | $22.50 |
| 37 | $22.84 | $28.18 | $19.06 | $23.08 |
| 38 | $23.54 | $29.08 | $19.55 | $23.62 |
| 39 | $24.34 | $29.87 | $20.05 | $24.18 |
| 40 | $23.13 | $30.66 | $20.70 | $24.98 |
| 41 | $23.62 | $31.43 | $19.75 | $25.80 |
| 42 | $24.11 | $32.21 | $19.93 | $26.57 |
| 43 | $24.64 | $32.93 | $20.10 | $27.30 |
| 44 | $25.18 | $33.41 | $20.38 | $28.03 |
| 45 | $25.79 | $34.00 | $20.88 | $28.80 |
| 46 | $26.43 | $34.57 | $21.43 | $29.55 |
| 47 | $27.10 | $35.17 | $22.01 | $28.06 |
| 48 | $27.71 | $35.58 | $22.33 | $28.56 |
| 49 | $27.35 | $38.27 | $21.78 | $29.22 |
| 50 | $28.29 | $39.47 | $23.56 | $30.14 |
| 51 | $29.26 | $40.77 | $24.48 | $31.06 |
| 52 | $30.31 | $42.22 | $25.09 | $32.72 |
| 53 | $31.47 | $43.83 | $25.62 | $34.54 |
| 54 | $32.77 | $45.44 | $26.26 | $38.99 |
| 55 | $34.25 | $48.12 | $27.11 | $40.85 |
| 56 | $35.88 | $52.06 | $28.20 | $42.71 |
| 57 | $37.69 | $54.25 | $29.51 | $42.30 |
| 58 | $39.64 | $56.72 | $31.70 | $43.61 |
| 59 | $40.10 | $55.60 | $31.00 | $44.50 |
| 60 | $41.84 | $56.72 | $31.70 | $43.61 |
| 61 | $43.76 | $59.64 | $32.87 | $45.19 |
| 62 | $46.41 | $63.28 | $34.51 | $47.48 |
| 63 | $49.07 | $67.72 | $36.06 | $49.78 |
| 64 | $51.22 | $69.53 | $37.72 | $52.07 |
| 65 | $53.58 | $72.72 | $39.36 | $54.36 |
| 66 | $56.48 | $76.06 | $41.01 | $56.66 |
| 67 | $59.85 | $80.53 | $43.44 | $60.22 |
| 68 | $63.18 | $84.67 | $45.86 | $63.60 |
| 69 | $66.84 | $89.65 | $48.29 | $66.09 |
| 70 | $70.79 | $94.64 | $50.81 | $70.45 |
| 71 | $73.15 | $98.31 | $53.24 | $72.18 |
| 72 | $78.81 | $103.97 | $56.20 | $75.86 |
| 73 | $83.99 | $109.94 | $58.46 | $79.74 |
| 74 | $89.46 | $116.69 | $63.55 | $84.14 |
| 75 | $94.87 | $123.65 | $67.78 | $88.66 |
| 76 | $99.97 | $132.48 | $72.41 | $94.42 |
| 77 | $107.04 | $141.32 | $78.25 | $101.63 |
| 78 | $114.13 | $150.57 | $83.51 | $108.24 |
| 79 | $122.13 | $161.81 | $88.44 | $115.15 |
| 80 | $129.52 | $171.23 | $93.41 | $125.01 |
| 81 | $139.73 | $181.75 | $98.43 | $135.14 |
| 82 | $149.95 | $192.98 | $106.21 | $147.04 |
| 83 | $160.16 | $204.65 | $113.96 | $160.56 |
| 84 | $171.02 | $219.19 | $121.31 | $170.76 |
| 85 | $181.88 | $237.28 | $128.55 | $179.58 |
| 86 | $192.74 | $257.57 | $135.90 | $192.35 |
| 87 | $236.25 | $337.32 | $171.33 | $237.32 |
| 88 | $276.68 | $353.99 | $205.98 | $253.99 |
| 89 | $317.10 | $370.65 | $240.63 | $278.99 |
| 90 | $357.53 | $378.98 | $275.28 | $303.99 |
$10,000 Whole Life Insurance What is it, How Does it Work?
A $10,000 whole life insurance policy is permanent plan which means coverage never expires. In addition to this it builds cash value and is used for final expenses.
It pays out in a lump-sum to your named beneficiary on your policy when you die. It has level premiums(premiums never increase) and level death benefits(death benefit never decreases). The death benefit payment to your beneficiary is tax free.
Your loved ones can use the money for any purpose of their choosing. If there is any leftover after paying your funeral or cremation expenses they can keep it for anything they need.
This provides the beneficiary with the funds to pay your funeral costs when you die.
How much Does a $10,000 Whole Life Insurance Policy Cost?
A $10,000 whole life insurance policy cost’s $83.99 monthly for Mutual of Omaha based on a male born on 2/2/1950 non-smoker. That is an example rate it can be different depending on your birthdate that is why we have the quoter to the right of this page.
Depending on your medical history this can make the difference between a guaranteed issue policy or an immediate benefit policy.
Simplified Issue Whole Life Immediate Benefit Policy
This is always going to be the best life insurance rate because you’re considered healthy by the life insurance companies therefore due to your health issues if any the insurance offer for the rate is going to be as low and competitive as it gets.
This type of policy also requires you to answer health questions but no medical exams are required. You can get up to $50,000 maximum with simplified issue whole life with the most affordable premiums.
Guaranteed Issue Policy or Graded
These types of policies are always around 10 – 20% more expensive than immediate benefits because the life insurance company issuing the $10,000 whole life insurance coverage determines you have a low life expectancy due to your health conditions.
This results in higher rates on life insurance quotes but you can still be insured no matter your health issue regardless of the higher premium. It is due to the fact that there are no health questions or medical exams for this type of policy acceptance is guaranteed.
The maximum waiting period for GI or graded policies is usually 2 years.
Keep in mind that GI or graded policies still build cash value which can be used if you need to quick cash to pay for something.
We have included below quotes for 10,000 whole life insurance for each age range.
To see a custom quote for your or your loved one fill out the form to your right.
Best Companies to Purchase a $10,000 Whole Life Policy With
The best life insurance companies for seniors to get a $10,000 whole life insurance policy with are listed below.
- Mutual of Omaha Life Insurance
- Transamerica Life Insurance
- Royal Neighbors of America Life Insurance
- Greek Catholic Union Life Insurance
- Prosperity Life Insurance
- Aetna Final Expense Accendo
- American Amicable Final Expense
- American General Life Insurance (AIG)
- Great Western Life Insurance
- Gerber Life Insurance
- Guarantee Trust Life Insurance
Worst Life Insurance Companies for a $10,000 Whole Life Policy
The worst life insurance companies for seniors in the USA to get a $10,000 life insurance policy are going to be listed below. These companies are full of gimmicks and some will put you in automatic 2 year waiting periods without even trying to assess your health conditions.
- Colonial Penn Life insurance & Colonial Penn’s 995 Plan
- Globe Life Insurance
- AARP Life Insurance for Seniors
- Lincoln Heritage Funeral Advantage
Do not Buy Term Life Insurance
Term terminates to make it simple, this type of coverage is for replacement of income or covering a mortgage which is why when the term length expires the coverage with double or triple in price if you were to try and renew the coverage.
It is not permanent which means it is not reliable for something as certain as paying for a funeral.
10,000 Life Insurance for Seniors Q&A
How Much is a $10,000 Life Insurance Policy Per Month?
Rates are based on age, health, lifestyle, and gender. This means accurate pricing is going to range between $50 – $200 a month. Now for a senior born on 2/2/1950 non-smoker male in perfect health for a 10,000 whole life insurance policy, the monthly premium would be $88.73 a month.
What is the Cash Value of a $10000 Life Insurance Policy?
The cash value depends on the policy and the insured. You can request a cash value illustration from your agent or the insurance carrier that provides the policy.