Burial Insurance for Seniors over 60: Securing Your Final Expenses
Posted in Burial Insurance by Age last updated on November 12, 2023If you want to learn, find, and get quotes on burial insurance for seniors over 60 keep reading. Burial Insurance(final expense insurance, funeral insurance, cremation insurance etc.) is simplified issue & guaranteed issue whole life insurance.
No medical exams are required just health questions on a life insurance application for simplified issue. Guaranteed issue plans have no medical exam or health questions for their application but have an automatic 2 year waiting period.
Coverage ranges between $2,000 – $50,000 with level premiums(premiums never increase) and level death benefits(death benefit never decreases).
Both types build cash value as you pay monthly premiums with a tax free lump-sum death benefit paid to your beneficiary when you die.
Your beneficiary uses this death benefit to pay funeral, burial, cremation and any other end of life expenses. Any money left over is theirs to keep.
In this article we will cover how to get coverage, provide the cost, and recommend the best companies.
Table of contents
- How to Get The Best Life Insurance for Seniors over 60
- How Much Burial Insurance Do I Need over 60?
- Eligibility for Burial Insurance Over 60
- Burial Insurance for Seniors Over 60 Cost
- Best Burial Insurance Companies for Seniors Over 60
- Which Life Insurance for Over 60s?
- Life Insurance for Seniors over 60 with Diabetes
- Low Cost Burial Insurance for Seniors Over 60 Cheapest Company
- How to Qualify for Burial Insurance for Seniors over 60
- FAQ’s
- Conclusion
How to Get The Best Life Insurance for Seniors over 60
When it comes to getting the best coverage it can be straightforward, it just comes down to a few factors that determine what life insurance or burial insurance is best for you.
The most important questions to ask would be:
- Is there a 2 year waiting period?
- Is the monthly premium affordable?
- Has the company been in business for over 100 years and A-rated?
- Is there a rate lock?
- Is the coverage permanent and will it ever decrease?
These are the most crucial questions to ask to make sure you are not winding up with some gimmick of a policy. In addition to this, the waiting period question will vary because if your are in extremely poor health you may not be able to avoid a waiting period.
Work with the Experts
This is exactly where we come in we help 90% of our clients get approved for coverage that has no waiting period. Now if you fall into the 10% category of clients we cannot get approved for that kind of coverage we will still help you get the best-guaranteed issue policy on the market.
Burial insurance for seniors over 60 is supposed to be simplified issue coverage meaning they only look at your medical history with no medical exam involved. This means as long as your health conditions line up with their health questions you should be approved instantly over the phone.
All of the carriers we work with pass those questions above with flying colors.
Buying Burial Insurance for Parents Over 60
If you are looking to buy burial insurance for parents over 60 there are 2 important factors to consider. You must have their consent to purchase burial insurance for them and they must be present to answer health questions.
They also have to be present to sign for their life insurance application.
How Much Burial Insurance Do I Need over 60?
According to the NFDA statistics the median cost of a funeral is $7,848. This means if you are over 60 years old you should get at least $10,000 in burial insurance coverage. A burial policy of $10,000 should cover your final expenses when you die.
Now taking inflation into account funerals are expected to increase in price. Getting a $15,000 burial insurance policy should the perfect amount of life insurance coverage to pay any end of life expenses.
Eligibility for Burial Insurance Over 60
We have provided a table below that outlines the specific eligibility requirements for burial insurance for seniors over 60.
| Eligibility Requirement | Description |
|---|---|
| Age & Date of Birth | Your current age determines your eligibility with different policies. If you are older than age 85 for example a majority of life insurance companies will not offer you burial insurance. |
| Height & Weight | You current heigh and weight affect your eligibility with some life insurance companies because high risk health conditions are directly linked to obesity. |
| Resident State | Your resident state determines which plans are available to you. Some life insurance companies may not have their policies available in your state. |
| Current & Past Health History | Your health determines your eligibility for burial insurance. If you hav extreme current or a past history of health conditions such as cancer you are considered high risk and many life insurance companies may not accept you. |
| US Citizenship | You must be a US citizen or permanent resident to buy burial insurance in the United States. If you are a citizen of a different country you are not eligible. |
| Current Medications | Your current medications indicate to the life insurance company how your health is. This is how they can categorize you as a high risk applicant or not. |
| Criminal History | A criminal history indicates if you are a high risk. If you have an extensive criminal record life insurance companies will not accept you. |
Check Your Health Conditions
Below is going to be our table you can use to search any of your pre-existing health conditions to determine if you can qualify for burial insurance with or without a waiting period.
| Health Condition | Day One Eligibility | Best Plan Option |
|---|---|---|
| ADL’s(Assistance of Daily Living Eating, Dressing, Toileting, Bathing) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| AIDS & HIV | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| ALS | Modified Options Probable | Graded or Modified Broker Options |
| Alcohol Abuse | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Alzheimers & Dementia | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Amputation Caused by Accident (No ADLS Needed) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Amputation Caused by Accident(ADL’s Needed) | Modified Options Probable | Graded or Modified Broker Options |
| Amputation Caused by Diabetes or Disease(No ADL’s Needed) | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Amputation Caused by Diabetes or Disease(ADL’s Needed) | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Aneurysm | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Angina | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Angioplasty | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Assisted Living Facility | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Asthma | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| AFIB (Atrial Fibrillation) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Brain Tumer(Non Cancerous) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Bipolar Disorder | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Brain Tumor(Cancerous) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Bronchitis (Chronic) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Cancer-Must have occured and been cured over 2 yeas ago with no further complications or medications | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Coronary Bypass Surgery | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Cardiomyopathy | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Cerebral Palsy | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| COPD Chronic Obstructive Pulmonary Disease | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Circulatory Surgery | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Cirrhosis | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Congestive Heart Failure | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Cystic Fibrosis | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Defibrillator | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Depression | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Diabetes(Without Complications) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Diabetes(With Complications) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Dialysis | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Down Syndrome | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Drug & Alcohol Abuse | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Emphysema | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Heart Attack | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Heart Disease | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Obesity & Under Weight | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Hepatitis C | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Hospitlization(Current) | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Huntington’s Disease | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Kidney Disease Stage 1 – 3 | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Kidney Disease Stage 4 – 5 | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Lupus (Systemic) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Multiple Sclerosis | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Muscular Dystrophy | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Organ Transplant | Modified Options Probable | Graded or Modified Broker Options |
| Oxygen Tanks | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Oxygen Concentrator | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Pacemaker Implant | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Pancreatitis | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Parkinson’s Disease | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Pending Surgery | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Schizophrenia | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Scleroderma | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Seizures | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Sickle Cell Anemia | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Sleep Apnea | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Stroke | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Stent | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| TIA Mini Stroke | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Tumor Cancerous | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Tumor Non-Cancerous | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Ulcerative Colitis | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Eligibility details shown above represent generalized carrier underwriting guidelines for educational purposes. Actual approval for immediate day-one coverage is subject to individual medical underwriting, prescription history checks, and final carrier approval. Call us directly to verify your specific eligibility. | ||
Burial Insurance for Seniors Over 60 Cost
If you are wondering how much burial insurance for seniors over 60 costs we have the table below. Those are accurate prices from our quoting software to give you an idea of how much burial insurance will cost over 60.
Age, health and lifestyle are what affect the cost of burial insurance so if you are in extremely poor health and only qualify for a guaranteed issue or modified policy you premium will be higher.
$5,000 Whole Life Policy Cost for Seniors Over 60
| Age | $5,000 Male Non Smoker | $5,000 Female Non Smoker | $5,000 Male Smoker | $5,000 Female Smoker |
|---|---|---|---|---|
| 60 | $25.21 | $19.65 | $34.66 | $26.23 |
| 61 | $26.27 | $20.50 | $37.36 | $27.55 |
| 62 | $27.34 | $21.36 | $38.54 | $28.95 |
| 63 | $28.36 | $22.17 | $40.43 | $30.15 |
| 64 | $28.39 | $22.94 | $42.32 | $31.34 |
| 65 | $29.84 | $23.72 | $41.52 | $32.53 |
| 66 | $32.11 | $24.98 | $44.31 | $34.16 |
| 67 | $33.93 | $26.23 | $47.12 | $35.77 |
| 68 | $35.67 | $27.43 | $49.92 | $37.31 |
| 69 | $37.31 | $28.57 | $52.33 | $38.78 |
$10,000 Whole Life Policy Cost for Seniors Over 60
| Age | $10,000 Male Non Smoker | $10,000 Male Smoker | $10,000 Female Non Smoker | $10,000 Female Smoker |
|---|---|---|---|---|
| 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 |
Best Burial Insurance Companies for Seniors Over 60
Our top burial insurance companies we recommend to seniors over 60 are:
These are the best burial insurance for seniors over 60 companies. They hold the best reputations and some of them like MOO come with living benefits which allows you to use the coverage if you get terminally ill.
- Mutual of Omaha
- American Amicable
- Prosperity
- Aetna
- Transamerica
- American General
- Great Western
- Gerber
- Foresters Financial
- Guarantee Trust Life
Which Life Insurance for Over 60s?
Now something very important to understand is that if you want the best life insurance or burial insurance over 60 it needs to be permanent coverage which is whole life insurance or final expense insurance. The reason for this is that temporary coverage with higher death benefits will expire after 20 years.
If you have a policy that expires 20 years from now when you reach age 80 your only option will be whole life insurance and at that point, the premium will be very expensive considering your age.
The idea is:
“The earlier you get burial insurance the cheaper it will be.” – Tim Connon
Life Insurance for Seniors over 60 with Diabetes
We have written several articles on life insurance with diabetes. Here is the good news for people with type 1 or type 2 diabetics. Since these plans are simplified issue people with diabetes can get day one coverage as long as there are no serious complications such as neuropathy and even then depending on the severity of that our agents can still help you get covered.
You can read more on life insurance with diabetes here:
Gestational Diabetes and Life Insurance
Life Insurance A1c Levels & Diabetics
Burial Insurance for Type 1 Diabetics
Burial Insurance for Diabetics
This is why it is crucial to work with our agents and their advanced training because within 20 minutes they will know exactly what you qualify for.
One company to watch out for a NOT go with is New York Life associated with AARP. We also do NOT recommend John Hancock either.
Low Cost Burial Insurance for Seniors Over 60 Cheapest Company
Mutual of Omaha burial insurance is the lowest cost burial insurance for seniors over 60. This funeral insurance for seniors is the most affordable because their underwriting is more strict than other carriers but still easier to qualify for.
How to Qualify for Burial Insurance for Seniors over 60
To qualify call our customer service line or fill out the form to your right to see quotes. Once you do this one of our agents will call you over the phone and proceed with the following steps:
- Introduce themselves
- Ask comprehensive health questions
- Confirm the coverage being applied for
- Begin either the voice signature or email signature process depending on the carrier
After these steps, you will receive confirmation from the company right over the phone. This is all done in 30 minutes or less.
FAQ’s
Can a 60 year old get whole life insurance?
Yes, you can qualify for coverage with no waiting period and a low monthly rate or you can qualify for coverage with a 2 year waiting period and higher premium depending on your health.
What type of life insurance is best for a 60 year old?
Whole life insurance is best for a 60-year-old because it is permanent coverage and will not expire, unlike term insurance.
Conclusion
This is the perfect time for you to get burial insurance for seniors over 60 because the monthly rates are low and your health conditions may not be too severe to qualify and get coverage in place. The faster you act to get this for your loved ones peace of mind the faster you can take this off your to-do list.
We work with all of the top companies nationwide and with our expert-level training, we will help you find coverage within minutes. Get you and your families permanent peace of mind. This coverage pays out quick which means your family will receive the check within 24 – 48 hours then pay for your funeral and be able to focus on just grieving your loss.