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The Best Burial Insurance Policies: Choosing The Right One

The Best Burial Insurance Policies: Choosing The Right One

The best burial insurance policies are those that offer added benefits and built-in add-ons. For instance, the best policies offer accidental death and dismemberment coverage, which doubles the death benefit in case of covered accidents. They also promise immediate coverage in the event of death or dismemberment. In addition, they usually offer a guaranteed issue policy, meaning there are no health or lifestyle questions to answer. And, of course, they offer instant coverage.

Guaranteed issue life insurance

A guaranteed issue burial insurance policy has a few benefits over its immediate counterpart. The company doesn’t ask questions about your health history, and there is no waiting period. But there are some stipulations. You must have a healthy lifestyle and be willing to pay a small monthly premium. You may also have to pay a higher premium because the insurer doesn’t offer immediate coverage for people with health problems. If you can answer those questions honestly, you can probably find a policy that will cover your funeral expenses.

Because guaranteed issue burial insurance does not require a medical exam, you can buy this type of policy without worrying about your health history. You can even qualify for a living benefit if you have a terminal illness. In this case, you may qualify for a payout equivalent to 50% of the death benefit. If you die of an accident, the payout is 100%. Otherwise, the insurance company has to undergo a two-year waiting period.

A guaranteed issue policy will also cover people with pre-existing conditions. It will build cash value over time. This cash value will be available for your beneficiaries if they die unexpectedly. And because this type of insurance is whole life, it will remain in effect as long as you pay the premiums on time. If you die before the end of the policy period, your beneficiaries will receive the full death benefit. This kind of policy is also known as a guaranteed issue policy, which means it will remain in effect until the end of your life.

The cost of this type of life insurance policy will vary. However, if your health is good, it will be cheaper than the simplified issue. It will require a medical exam and questionnaire. A standard policy may cover up to $40,000, but a guaranteed issue policy will cover more than double that amount. You can choose guaranteed issue if you’re between forty and eighty years old. If you have a terminal illness, it’s important to make sure you get a guaranteed issue policy.

Level benefit plan

While level benefit and graded benefit burial insurance are similar, guaranteed issue policies are more expensive. This is because guaranteed issue policies are created for people who have severe health conditions or multiple issues. If you or someone you love had a health condition, you might not be able to qualify for a graded benefit or level benefit burial insurance plan. However, if you had a serious health condition and had trouble finding an insurance policy, you could consider a guaranteed issue plan.

Insurers who specialize in the level benefit plan include American Continental Insurance Company. This insurer offers competitive rates and no waiting period. The company has one big advantage: it can issue coverage to people who are 85 years old and older. Moreover, this insurer does not require a medical exam, which means that a person can buy this policy without worrying about the waiting period. In addition, this insurer is one of the few to accept people who have diabetes or are suffering from hypertension.

When comparing level benefit and graded benefit burial insurance for seniors, it is important to remember that the cost of a graded policy can be more than 70% higher than a level one. However, shopping around for a burial insurance policy will help you to reduce the cost. Insurers typically offer a choice of plans, so look for a policy that is affordable based on your health condition. This will ensure that you can secure a low-cost policy when your health is in good shape.

The best way to compare level benefit burial insurance is by contacting an independent agent. You can confirm your options over the phone, and the entire process will be easy and quick. There is no need to leave your home or schedule an appointment to purchase burial insurance. Unlike life insurance, this coverage does not require a medical exam. It is also more affordable than many of its competitors. You can choose from three different types of burial insurance policies, which will help you determine what is right for you.

Companies that offer immediate coverage

If you’re looking for a good burial insurance policy, you should consider one that offers immediate coverage. This type of policy is a great choice for people who don’t have time to wait for a waiting period before they are eligible to use it. Many funeral insurance companies advertise that you must wait for two years before you can use your coverage. In reality, there’s no waiting period. In fact, immediate coverage is often available for most people.

If you’re young and healthy, you may have more options than you realize. For instance, you may want to look into a smaller, more traditional whole life policy instead of a burial insurance policy. If you’re not sure what type of policy you need, it’s important to ask questions about the coverage that the policy offers. Choosing the wrong type of company could result in higher premiums. Instead, you should focus on what you need in a policy.

Most people buy burial insurance only when they die, so it’s important to find a company with a strong financial history. Remember that you’re not going to be there to claim on your policy, so look for one with a long track record. It’s vital that the company you choose will still be in business on the day of your death. Otherwise, you could be forced to pay a premium that’s too high for you.

When choosing a burial insurance company, check the terms of immediate coverage and your right to review your policy. While some companies offer immediate coverage, many have a waiting period for you to review the plan and see if it’s a good fit. In many cases, the waiting period is between 10 and 30 days, depending on your state’s laws. Also, keep in mind that your health is directly related to your price.

You should be aware that there are certain health conditions that prevent you from being eligible for immediate coverage. For example, you must have a health problem that will require your policy to be modified, such as HIV or dialysis. In these cases, immediate coverage is unlikely, but it’s worth checking. However, the best way to find a burial insurance company that offers this type of policy is to speak with a licensed insurance agent.

Companies that require no health or lifestyle questions

The process of getting a burial insurance policy is relatively simple. You can apply either on paper or online. The amount of coverage depends on the company you choose, but most companies offer up to $50,000 of coverage. You’ll need to answer a few health-related questions to get approved. While you don’t have to submit a physical exam for burial insurance, you’ll need to be within the age range of the policy.

The first step is to determine your age range. Some burial insurance companies will require that you have been in good health for at least five years. Others will require that you have a clean driving record. If you have good health, you might want to consider a burial policy that pays a certain amount each year. Some companies offer up to $25,000 in coverage. You’ll need to pay a premium for a policy that will cover your final expenses, but once you die, your beneficiaries will receive their full benefit.

Another important aspect of burial insurance is the amount of coverage. Typically, this insurance is designed for seniors, and is purchased after many of their financial needs have passed. However, it is possible to purchase this insurance policy for younger people with no major health risks. The price of this type of insurance is generally higher than a term policy, so you should choose wisely. You should also look for no-medical-exam insurance when applying for a burial policy.

Finally, if you’re concerned about your age, you can get a burial insurance policy with a graded death benefit plan. This isn’t the ideal situation, but it still offers a valuable benefit and pays out the premiums that you’ve paid plus interest. If you’re younger, healthy, and don’t smoke, you can still get burial insurance without a medical exam.

Choosing the Best Burial Insurance For Seniors

When it comes to choosing the best burial insurance for seniors, the choices are many. While there are many insurance providers available, the top providers include Transamerica, State Farm, Globe Life, and Aetna. Here are some of the key features to look for and consider when choosing your plan. By following these tips, you can be sure to find the best policy for your needs. Let’s look at the different types of coverage offered by these companies.

Globe Life

If you’re considering purchasing burial insurance for senior citizens, you should consider the coverage limits and premiums that each company offers. Some companies don’t offer as much coverage as others, so make sure to compare your options. You can also find out more about the company’s complaint ratio. This index measures the number of complaints that the company has received in the past year. The company also offers various types of policies, including whole life and term life.

A common carrier accidental death rider is included in many policies, which gives you double the amount of coverage for accidents that occur on a common carrier. This rider can protect your family from having to foot the bill for medical treatment if you die in an auto accident while on a common carrier. You will also receive a death benefit if you die from an accidental injury in a car. As we age, the cost of health care will also increase.

The company offers a 30-day money-back guarantee, which is more favorable than other companies. They also offer a terminal illness accelerated benefit rider. If you’re still not satisfied with your policy, you can try another insurer. However, make sure that you understand the terms and conditions of the policy so you’ll know what to expect. It’s important to have a policy that fits your needs and can cover any costs that may arise.

If you’re looking for a burial insurance for senior citizens, consider Globe Life’s term life policy. It has a limited death benefit and doesn’t require a medical exam. Globe Life term life policies also cost more money than traditional term life policies, and can last anywhere from five to 30 years. There are five levels of coverage for senior citizens with this policy, and rates increase every time it’s renewed. If you’re interested in the coverage options, take a look at the premium amounts for each type of coverage.

Burden insurance is an affordable way to plan for the funeral expenses of a senior. This insurance is a type of life insurance that pays out the death benefit and other expenses. It can be issued quickly, and you can choose the amount of coverage you want. You can choose a lump sum or monthly payments, depending on the type of coverage you choose. Most policies won’t require a medical exam, so it’s important to make sure you don’t need too much coverage.

Aetna

If you’re over 60, you may want to consider Aetna burial insurance. It’s available in many states, with a few exceptions. You can’t get coverage if you’re under the age of 50, but they do offer a modified plan that has certain benefits for overweight and obese people. The company also offers a fixed premium and no waiting period. The price is competitive compared to other companies.

The Aetna graded final expense plan provides instant protection, paying out 40% of the death benefit within the first 12 months. It also pays out 75% of the death benefit between 13 and 24 months. This payout is higher than what most graded plans pay. The average graded plan will pay out 30% of the death benefit within the first two years. You can even get the maximum payout if you pass away before the age of 70.

Aetna also offers a modified plan that will pay out 110% of the premiums, as long as you meet the age requirements. This plan will cost you more than a standard term life insurance policy, but Aetna does offer a low-cost option for those over 75. In addition, the waiting period is relatively short, and you can get a quote on this plan by calling the company.

Aetna’s final expense burial insurance is available in many states, though some northeast states are excluded. However, your loved one will have to deal with the funeral service provider that the deceased chose. When looking for Aetna burial insurance, take the time to look into the company’s financial ratings. This will give you a better idea of the company’s stability and its ability to pay out the benefits.

Aetna is another company that offers final expense insurance for seniors. The company also has a subsidiary called Continental Life Insurance Company that underwrites this policy. While this policy is available in many states, it is not available on the West Coast. Also, several Northeast states are not included in this plan. Aetna’s final expense insurance is offered through independent agents. The company’s headquarters is located in Hartford, Connecticut.

State Farm

State Farm offers a variety of burial insurance for seniors. They have a few options available, including varying face amounts and rider choices. However, they do not accept applications with health conditions or previous claims. They also run a prescription history check, which looks for prescription medications used for health conditions. This way, they can determine if you are eligible for coverage. You can learn more about State Farm burial insurance for seniors by completing the application.

The policy also offers a single death benefit option of $10,000, making it a good choice for those who are on a budget. This coverage can help a family pay for funeral and burial costs. While State Farm may offer the lowest coverage amount among the other companies, the company is also the least expensive. Listed below are some of its features:

The online portal for State Farm allows you to view your policies, premiums, and lab results. It is important to note that it does not support Android phones. State Farm also offers dividends on all policies. However, this feature is not available for universal term policies. According to a recent study, States Farm is the best in customer satisfaction out of 23 life insurance companies. However, this study found that State Farm has more issues than it anticipated.

For those who are concerned about their financial status, State Farm offers a final expense policy for seniors. This policy pays a fixed death benefit of up to $10,000 directly to your designated beneficiary. You may be able to extend your policy until age 100 if you wish. It also provides flexibility for monthly or annual premium payments, which is a great benefit. When you die, the death benefit can be used for burial or funeral expenses.

A final expense policy is another option for funeral insurance. State Farm offers this type of policy to cover the costs of a funeral. The average funeral in the United States costs $8,800, and the price is expected to rise. This is why it is so important to get final expense insurance for seniors. It may just save your family thousands of dollars in the long run. It also offers discounts for auto insurance customers. A joint universal life policy is a good way to protect the family from unexpected costs.

Transamerica

Seniors can purchase Transamerica burial insurance at a low monthly premium. The costs of these policies are from $300 to $14,000 per year. They are offered as standard and preferred policies. Non-tobacco applicants have the lowest rates. Applicants can also choose a plan that lets them prepay for 10 years of coverage. The 10-Pay Solution plan is available only to individuals age 65 and older. The coverage is designed to cover the costs of funeral and burial services.

The Transamerica Final Expense Solutions Portfolio is a simple and effective strategy for paying for final expenses. It pays cash value and has guaranteed level premiums for the life of the policyholder. It can also supplement other insurance policies and provide financial security for the family of the deceased. For seniors, whole life insurance can help pay for final expenses and can help protect the beneficiaries from financial hardships. You can also choose the coverage level that best meets your needs.

There are other advantages of Immediate Solution from Transamerica. Its benefits include a high death benefit, no waiting period, and quick processing. You can have it in place within a day. While many burial insurance policies provide a relatively small death benefit, the Transamerica Immediate Solution has a higher death benefit. It pays anywhere from $25,000 to $50,000, which can increase the amount of money left over for final arrangements.

Seniors may have trouble purchasing term and whole life insurance due to their advanced age. However, this type of insurance policy comes with no medical exam requirements. Many seniors in their eighties will find it difficult to purchase term or whole life insurance. Burial insurance policies have more flexibility, more flexible coverage amounts, and are available in more states. These plans are also a great option for senior citizens. But they should be carefully considered before signing up for a plan.

Transamerica offers three benefit plans. One is for people with medical conditions that may limit coverage options. Other plans include a cash value and a death benefit option. Both have the potential for same-day decision. A good way to find the best coverage for your budget is to review Transamerica’s website for the different coverage options and features. You can read more reviews on Transamerica Life Insurance and compare the different plans offered. You may even be surprised at the differences.

The Best Burial Insurance Companies

The Transamerica application process may take five business days, depending on the state you live in. The Prosperity Life Group is another one of the best burial insurance companies. This company has an A+ rating from A.M. Best and is available in nearly all states. The application process takes only fifteen minutes and can be approved in as little as five business days. This company is great for smokers and those with many health risks. You can also expect competitive rates for people with health conditions.

Guaranteed issue burial insurance

You may be wondering if guaranteed issue burial insurance is right for you. This type of insurance is not available in every state. Before you apply for a policy, make sure that you are of legal age and that you do not have any medical conditions. Most of the time, you will only be asked for your age, gender, and residency. In some cases, you can even get coverage without a medical exam. If you do have health conditions, you may still qualify for this type of insurance.

One of the main differences between a guaranteed issue life insurance policy and a normal life insurance policy is that guaranteed issue life insurance companies require you to wait two years for coverage to kick in. This means that if you are terminally ill, you will have to wait two years before your policy kicks in. The age limit on this type of policy is 50-85 years old. However, many companies have age restrictions. If you are younger than fifty years, you can still find a guaranteed issue life insurance policy.

The amount of coverage you should buy will depend on your circumstances, but it’s important to know how much you’ll need to cover your final expenses. The cost of a funeral can be the largest single expense, so it’s important to have enough coverage for that amount. You should also consider the costs of other end-of-life expenses, like credit card bills, living expenses, and outstanding medical bills. These are important to know, as they can make a difference in your family’s financial situation.

Because guaranteed issue burial insurance is so popular, many people who are seeking this type of coverage are looking for small amounts of coverage. The maximum coverage level is around $25,000, but there are higher-end versions available. You may also want to consider getting a universal life insurance policy, which doesn’t expire. You can also use guaranteed issue life insurance as burial insurance. This type of insurance is often not as expensive as term life insurance, but they can provide a small amount of coverage.

Competitive rates for people with health conditions

When you have health conditions, you may want to consider getting burial insurance. This type of life insurance will cover your funeral expenses, including the costs of the burial plot and any debt that may remain. This type of insurance is often a good choice for older individuals. But, it’s important to keep in mind that it’s not necessary to have a perfect score to qualify for competitive burial insurance rates. Below are some of the factors that will influence the prices of burial insurance.

You can qualify for competitive burial insurance rates even if you have a heart condition. There are a number of companies that specialize in insuring people with health conditions. For instance, Foresters Financial is one of the most trusted insurance companies and has been in business for more than 140 years. This company offers competitive rates and valuable member benefits, including coverage for pre-existing health conditions. This company also works closely with the Ronald McDonald House, so you can rest assured that they have your best interests in mind.

Other companies that offer competitive burial insurance rates for people with health conditions are Mutual of Omaha and SBLI. Both companies offer easy online applications, while SBLI and TruStage also offer higher coverage. If you want to have a final expense policy with a higher coverage level, you can opt for a final expense policy from Nationwide. However, you must be aware that Nationwide does not offer this policy to customers who have other policies with them.

When choosing a burial insurance policy, it’s important to consider your health and age. Although the premiums may be high initially, they will eventually start to decrease as you get older and your health condition worsens. However, most companies that provide this insurance offer a guaranteed premium for people with health conditions. In addition, many policies mature based on your age, and will pay out the full benefit amount if you outlive the maturity date.

Policies with no waiting period

Burial insurance is a great way to pay for your loved one’s final expenses. It doesn’t require any medical exam or blood tests. Some companies even offer no waiting period policies. While these policies may not have a waiting period, they may have a medical exam and a limited benefit period during the first two years. Whether you’re a high-risk applicant or in good health, it’s important to understand the differences between the two types of policies and which one will suit your needs.

Burial insurance that has no waiting period is a whole life policy. It provides coverage for the deceased’s funeral expenses. These policies are a guaranteed death benefit. Once the insured person passes away, the death benefit is paid to the chosen beneficiary. If no one is named in the policy, the money is returned to the beneficiary, along with a 10% interest. While this type of coverage is not available for everyone, it’s worth looking for.

AIG is a well-known burial insurance company with an excellent reputation. They offer coverage in most states except New York. You can apply for this coverage by phone or online. Within 48 hours, you’ll have your quote and your policy in the mail. Most AIG policies have no waiting period, which means you can lock in a policy without worrying about a waiting period. They also have two free riders for burial insurance that allow you to get access to your death benefit in case of a terminal or chronic illness.

Another great benefit of having no waiting period is that death benefits are tax-free. This means that you don’t have to worry about paying huge income taxes. However, it’s rare to find a policy that doesn’t have administrative fees. You can ask about these charges when you’re shopping around for the right policy. They can be deducted from the cash value of the policy monthly. When shopping for a policy, make sure to consider all of the fees involved.

Companies with a reputation for honoring each family’s budget

There are many burial insurance companies that offer affordable plans for any budget. One of the most popular ones is the Royal Neighbors of America, which has been in business for more than 120 years. They offer two types of burial insurance policies and have a good reputation for providing great customer service and low rates. Another popular choice is United Home Life, which is also a reputable company and offers affordable policies.

If you are looking for a simple online application, try the Mutual of Omaha. Their policy allows you to make the application process easy. If you want a more comprehensive policy, check out SBLI and TruStage. You can also consider Nationwide for higher coverage, but this policy is only available to customers with other policies with them. Lastly, consider the company’s claims record.

When determining how much you can afford to pay for burial insurance, remember that premiums are ongoing. Some plans offer discounts if you pay them annually. It is important to know what you can spend on premiums, because your income is likely to decrease as you get older. It’s also important to know how much you can afford to pay per month. You can pay as little as $11 a month or as much as $100 a month, depending on your needs. You can choose between a policy that suits your budget, but make sure that you can afford to pay it.

The Best Burial Insurance With No Waiting Period

The best burial insurance with no waiting period can help your family deal with financial matters without tearing apart your loving relationships. Your siblings and children will not have to worry about bickering over the money, which can be especially difficult. You can also avoid putting your family into debt by getting burial insurance. Your spouse might rely on social security and pensions to make ends meet. A no waiting period policy could help offset the loss of income, making life easier for the surviving spouse.

Aetna

An Aetna burial insurance with no wait period may be an option for your final expenses. This type of plan offers permanent coverage and requires no medical exam. You can even apply for veteran’s benefits. The policy also offers a level premium payment throughout your lifetime. Benefits vary from $3,000 to $35,000, depending on the policy. Aetna is a top life insurance company, and their plans are widely available and competitively priced.

There are a number of reasons why you should consider an Aetna burial insurance with no wait period. First, no waiting period policies are much easier to get than guaranteed issue plans. However, they come with a two-year wait period, and require a higher premium than instant coverage plans. In addition, if you have a medical condition, you might want to find a no-waiting-period plan.

You can also get coverage with a modified plan. American Continental Insurance Company offers a graded plan. You can purchase a policy with a low face amount while you’re young and healthy. In other words, this plan is good for people of all ages, and it’s not just for seniors. It’s even good for people with poor health. If you have bad health, an Aetna plan with no waiting period may be for you.

If you have a serious health condition, it may not be wise to purchase a guaranteed issue whole life policy. However, if you don’t have life insurance, it is always wise to get some type of final expense coverage. You can choose between burial insurance and a guaranteed issue policy. The benefits of final expense coverage are significant, and the cost of your final expenses may be much lower. You can also purchase a guaranteed issue burial insurance with no waiting period.

AARP

If you are looking for a burial policy that has no waiting period, AARP has a policy that will fit your needs. You can purchase the policy as soon as you are eligible. This type of policy is a good choice for older people because it can help cover burial costs and help pay for health care. The policy also has a “Paid-Up” feature that allows you to stop making premium payments after the age of 95. This means that the policy will cover your final expenses regardless of your health.

AARP has a level benefit term life insurance policy that is marketed as a “burial insurance” product. However, the premiums and benefits will increase every five years, and coverage will end at age 80. On the other hand, if you opt for their permanent life insurance policy, your premiums will never increase and your benefits will not decrease. Additionally, AARP life insurance will not require a waiting period and you can begin receiving coverage right away.

In addition to life insurance policies, AARP offers a number of burial insurance plans, which are underwritten by New York Life Insurance Company. These plans provide affordable burial and final expense insurance to help cover the cost of funerals and medical bills for survivors. The policy also accumulates cash value, which can be used to pay off past due life insurance payments or cover an emergency. The money in your AARP burial insurance policy will help you and your family’s funeral expenses.

The main downside to AARP burial insurance is the fact that there is a two-year waiting period. It is also more expensive than other burial insurance companies that offer the same coverage at a lower price. Other top-rated burial insurance companies charge $29 per month, which is about half the price of AARP’s plan. But even if you choose the AARP term life policy, make sure you read the fine print.

Pioneer American

The Pioneer American insurance company has no waiting period for burial insurance. This insurance can be purchased through an agent. The agent will draw a bank draft from the customer’s checking or savings account. This company services 36 states and has a network of independent agents. They also offer short-term life and permanent life insurance. Their products include multiple riders and are rated A by A.M. Best. However, there are many disadvantages to choosing this type of insurance.

Premium rates are based on your age, health history, and other factors. A policy typically pays a death benefit of between $5,000 and $30,000. Some insurers offer higher benefits. Another type of burial insurance is whole life insurance. This type of policy pays final expenses and is available to people up to 85 years old. Premiums and benefit amounts are guaranteed for the policy’s duration. Some insurers also offer plans with a graded premium structure that allows them to reassess the underwriting risk periodically.

Although most final expense insurance buyers can obtain coverage with no waiting period, some factors should be considered. For example, the individual’s health condition may make it difficult to qualify for a policy. For these people, the best plans are guaranteed to pay out after a certain period of time. Moreover, they are backed by an 8-10% interest rate for the first 24 months. The two-year waiting period for most burial insurance plans is unwarranted. However, it does make purchasing this type of coverage more affordable and easier.

The best way to obtain no-waiting-period burial insurance is to apply for a policy online. There are no medical exams required for this type of policy. The premiums of different types of insurance vary widely, and a healthy individual can save money on this type of coverage. However, a person suffering from serious health conditions can also qualify for a guaranteed-issue policy with a two-year waiting period. The premiums of guaranteed coverage are higher, but the insurance pays out much faster in the case of illness.

AIG

If you are considering buying a burial insurance plan but are unsure of how to proceed, you may want to consider an AIG burial insurance with no waiting period. This type of policy is available in most states, except New York. You can apply for this insurance over the phone, and it will be processed within 48 hours. You can also choose to have the policy mailed to you, which is the most convenient option. You can also select to receive two free riders on your policy, including a terminal illness rider and a chronic illness rider. The riders are important because they allow you to access your death benefit in the event of a covered ailment.

When looking for a burial policy with no waiting period, you will want to find a company that has a long history of financial stability. The company you choose should be in business when you die. If they’re not, you will have to worry about whether they’ll be around when your death occurs. This way, you’ll have peace of mind that your family will receive a payout in the event of your death.

The waiting period affects the first two years of your policy. If you die during the first two years, your beneficiary will only receive 110% of the premiums you paid. After two years, you’ll receive the full death benefit, which is often much less than the amount you paid for a standard policy. The benefit amount can be anywhere from five to twenty-five thousand dollars. This is a great option for people who don’t want to wait two years to be reimbursed.

Aetna’s Guaranteed Whole Life Insurance plan

When you apply for a life insurance policy, it is important to know how the underwriting process works. Aetna uses a simplified approach and third-party data to assess risk. During the underwriting process, applicants must answer a series of questions related to their health. If the answers are negative, an application will be denied. Applicants must also know how much they can expect to pay in premiums each month.

Aetna’s guaranteed whole life insurance plan requires no medical exam for final expense coverage, which makes it a great option for many people. It is also very easy to obtain and does not have a waiting period. The premiums for Aetna’s final expense plan are relatively low and do not increase with age. Aetna also offers a plan with a limited death benefit, which makes it a cost-effective choice for senior citizens. If you have a medical condition that is not covered by most other policies, you can also opt to purchase optional policy riders, which may increase your death benefit amount.

The main benefit of a guaranteed whole life insurance plan with no waiting period is that it provides coverage immediately. The premiums are often low, but the coverage amount is usually lower than other plans. This is a risky option, but it is worth the price. You can buy a policy for as little as $1,000 without medical exams or health questions. Moreover, the insurance company typically issues a check within 48 hours.

If you are a healthy person, you can buy a plan with no waiting period. Most guaranteed whole life insurance plans have a two-year waiting period. If you die during the waiting period, your beneficiaries will only receive part of the death benefit. Aetna’s Guaranteed Whole Life Insurance plan with no waiting period costs as little as $2 per month.