Policy Types

Life Insurance for Seniors: What You Need To Know Before Shopping for Final Expense Life Insurance

As you reach senior status, you may find yourself in the market for final expense life insurance. Before you start shopping, be sure to consider a few questions regarding how much you may need and if will you qualify.

Considerations When Shopping for Final Expense Life Insurance

Options regarding final expenses

As you age, you may start to think about the costs associated with your final expenses. You may also start to worry about leaving this financial burden to your spouse and other loved ones. If you're a considering a type of final expense life insurance policy to cover these costs, start by asking yourself the following three questions that can help you find the right policy.

How much coverage do I need?

Funeral costs will vary based on many different factors that may include whether you opt for a burial or cremation, the type of casket or urn, the amount and type of flowers, etc. In addition, are you looking for a policy just to cover funeral and burial expenses, or would you want a bit more coverage in the event there may be outstanding medical bills? Once you know the type of funeral you would like to have and if you want to include extra for medical expenses, you'll have a better idea of how much coverage you'll need

Will I qualify for affordable coverage?

Every insurer is different so your best bet is to shop around to see if you qualify for coverage based on your age and any pre-existing health conditions. You can shop for final expense life insurance by way of an insurance agent, or directly from a reputable insurance company.

What types of policies do I have to choose from?

Life insurance comes in the form of different types of policies. If you're looking for final expense life insurance to cover your final expenses, you may want to consider:

  • A traditional life insurance policy.

    If you are in good health and under a certain age, you may qualify for a traditional life insurance policy with affordable premiums. Depending on your age and the insurance company, that could be a small permanent* or term life insurance policy.

  • A simplified issue policy:

    If you have medical conditions that could make it difficult for you to qualify for a traditional life insurance policy, or if you've been turned down for coverage in the past, this may be a good option. Unlike a traditional policy, a simplified issue policy allows you to apply for coverage and bypass the medical exam. Because of this, premiums can be pricy, but it can be an option if you have certain health conditions.

  • A guaranteed issue policy:

    Just as the name implies, a guaranteed issue policy will provide at least some amount of coverage. In fact, the only requirement for a guaranteed issue life insurance policy is that you pay your premiums on time. However, because there are no qualifications, premiums tend to be substantially higher than what a qualified applicant would pay for the same amount of coverage under a life insurance policy that requires medical underwriting.

Getting life insurance as a senior to cover funeral expenses isn't as impossible as you might think. Even if you are in poor health, there can be options available to you.

To read more about different types of life insurance coverage for seniors such as funeral, burial, and pre-need insurance, visit the Protective Life Learning Center.

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Life Insurance for Seniors

Life insurance for seniors comes with several options for funding funeral and final expenses. This article looks at questions you should ask before shopping for funeral life insurance, as well as the different types of life insurance policies that are typically used for this purpose. For more information, visit the Protective Life Learning Center.


All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.

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