Life Insurance for Elderly


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$10,000 Life Insurance Cost

Burial Insurance At Age 50If you are shopping for a $10,000 burial insurance policy, then you are probably concerned about leaving a financial burden on your family. Burial life insurance is the most affordable way to set aside something for your loved ones. It is permanent protection with guaranteed level premiums, which means peace of mind for you and your family.

Your Coverage Options

Depending on your health history, you can qualify for three different types of burial insurance coverage:

  1. Simplified Issue: If your health is good then you can qualify for day one coverage, also known as a simplified issue policy.
  2. Graded Burial Insurance: If you have some minor health issues, such as a heart attack or stroke within the last 24 months, then you can usually qualify for a graded burial insurance policy with a two year waiting period.
  3. Guaranteed Issue Insurance: If you have some major health problems such as kidney failure, cancer, or you need oxygen equipment to help you breathe, then you will only be able to qualify for a guaranteed issue burial policy.

Keep in mind that the actual rate that you will pay is going to depend on other variables other than your health. Some other common factors that insurance carriers use to rate your policy are your smoking status, prescription history, and sometimes your driving history. There is no medical exam needed to qualify for this type of coverage, so companies rely on your answers to questions on the application, as well as information available through the Medical Information Bureau and various prescription databases.

Sample Rates to Consider

These are sample rates for a $10,000 burial life insurance policy with day one coverage. These rates are based on someone who is in good health. Keep in mind that your rate could be higher or lower depending on your health and the company that you choose.



50 Year Old Male

$133 / Year

$164 / Year

50 Year Old Female

$115 / Year

$131 / Year

60 Year Old Male

$186 / Year

$234 / Year

60 Year Old Female

$156 / Year

$182 / Year

70 Year Old Male

$297 / Year

$366 / Year

70 Year Old Female

$233 / Year

$274 / Year

80 Year Old Male

$567 / Year

$657 / Year

80 Year Old Female

$419 / Year

$495 / Year

Do You Have Any Health Problems?

If you have major health issues, such as a heart attack or stroke within the last 24 months, then you will have to consider a different type of coverage called guaranteed acceptance life insurance. This policy is tailored to those who carriers deem as higher risk. The feature that makes this coverage different is that it has a graded death benefit, which means that there is a two year waiting period before the entire policy amount is available to be paid out.

Ready for a Quote? Compare Multiple Rates Today

The first step when shopping for a life insurance policy is to shop around. Rates can vary by as much as 70% from one company to another so it definitely pays to compare. Get a free no obligation quote today and compare multiple quotes for burial coverage.