Shopping for life insurance age 77 does not have to be complicated. In fact, it is very simple especially if you are age 70, age 75 or a senior over 70. The best option for you is burial insurance which is whole life insurance for final expenses.
At your age, you want permanent life insurance coverage that can provide a quick death benefit payout to your family to pay for any funeral expenses or leave a legacy gift behind when you die. The thing is that most other life insurance coverage such as term life insurance expires at age 90.
This means if you were to purchase term which we do not recommend, once you turn age 90 and outlive the policy your family will not have any coverage to protect them from your final expenses. So in roughly 15 years, you will not have any coverage for your family.
We specialize in life insurance for seniors and in this article, we will cover how to qualify for final expense insurance as well as provide sample pricing from one of our best carriers and guide you through the application process.
Qualifying for Burial and Life Insurance Age 77
Burial or funeral insurance are simplified issue policies that offer coverage to seniors. This means there are no medical exams and you can get instant approval right over the phone within 30 minutes or less with our agents.
How the Process Works
The first thing to do is fill out the form to your right. At that point, you will see pricing on the amount of coverage you want and will receive a call from one of our agents. Our agent will then ask you comprehensive health questions to prequalify you. Once the agent knows which carrier fits you best depending on your health issues the next step is to apply.
You can apply via voice signature or e-mail signature depending on which company your agent recommends. Then you answer the health questions for the carrier with a yes or no. The carrier then looks at your MIB and prescriptions to see if your health and prescription history lines up with your answers.
If everything checks out you are approved for coverage.
What if I am very Unhealthy?
With severe health conditions like dementia, HIV, or cancer you can still get a guaranteed issue life insurance policy. This has a 2-year waiting period but no one can be denied and our carrier offers living benefits with the plan. So if you become terminally ill you can withdraw a portion of your policy’s face amount to help offset costs your health insurance may not cover.
In addition to this, there are accidental death benefits that will payout if you die from an accident despite the 2-year waiting period.
Burial and Life Insurance Benefits
These plans have several important benefits.
- A Rate Lock- Premiums Never Increase
- Level Death Benefit-Death Benefit Never Decreases
- Tax-Free Death Benefit- No tax on the Death Benefits to your Beneficiary
Best Burial and Life Insurance Companies Age 77
These are the top A-rated companies nationwide that we work with.
- Mutual of Omaha
- American Amicable
- Prosperity Life
- Royal Neighbors of America
- Guarantee Trust Life
- American General AIG
- Great Western
Sample Burial and Life Insurance Quotes
Below are sample quotes for one of our best carriers Mutual of Omaha.
|Mutual of Omaha Age 70-79 Burial Insurance Quotes|
|Age||$10,000 Coverage Male Monthly Rate||$10,000 Coverage Female Monthly Rate||$15,000 Coverage Male Monthly Rate||$15,000 Coverage Female Monthly Rate|
Can a 77 Year old get Life Insurance?
Yes, we recommend whole life insurance for age 77 which is known as burial or funeral insurance.