Senior Life Insurance in Florida

If you have been in the process of looking for life insurance for yourself or for your older parents, you could be feeling more than a little bit overwhelmed by the many options that are out there. You might also think that it will be extremely expensive or that it will be tough to find coverage, but we can help.

Florida: A Few Facts

  • In 2013, 180,015 people passed away in Florida.
  • Cancer was the leading cause of death in the state in 2013.
  • The current median household income in the state of Florida is $46,036.

The five most populated cities in the state are:

  • Jacksonville – 821,784
  • Miami – 399,457
  • Tampa – 335, 709
  • St. Petersburg – 244,769
  • Orlando – 238,300

 

What are Your Life Insurance Options for Your Elderly Parents in Florida?

As you probably already know, there are a couple of different life insurance options out there. Many younger adults look into term life insurance because it can be more affordable and comes with higher levels of coverage, but this type of coverage often isn’t the right option if you are shopping for senior life insurance. This is because these companies generally ask for health exams, and they also may have strict age limits.

On the other hand, burial insurance can be a great option for seniors. It is a form of whole life insurance, which means that you don’t have to worry about outliving the policy. In most cases, no exam is required, and the health-related questions are typically limited. These policies might have lower levels of coverage, but they are generally more than sufficient to cover basic final expenses.

Why is Burial Insurance Such a Great Option for Seniors?

Term life insurance generally isn’t the best choice if you’re shopping for life insurance for seniors. Burial insurance, however, can be a good option. These are a few benefits of one of these types of policies:

  • Burial insurance is known as whole life insurance, which means that you don’t have to worry about the policy expiring after a certain length of time.
  • It’s generally a cheap option, particularly for senior citizens.
  • No medical exam is required, and there are generally only a few simple health questions.
  • The application process is very easy and can often be done online.
  • You typically don’t have to worry about age restrictions, making funeral insurance a great choice for those who are over 80 years old.
  • Although coverage amounts can be lower than with other choices, $5,000 to $50,000 in coverage are often available.
  • Many of these providers have guaranteed acceptance policies, so you don’t have to worry about getting turned down.

 

How Much Does Burial Insurance Cost?

First of all, you should know that rates will vary based on each person and his or her situation. With that said, you can take a look at these sample rates for a 68-year-old male who lives in Florida and who doesn’t smoke or use other forms of tobacco:

  • $8,000 in Coverage – $51.99/month
  • $12,000 in Coverage – $76.89/month
  • $20,000 in Coverage – $126.67/month

 

How to Buy Funeral Insurance in Florida

We work with all of the best life insurance providers, and we can help you quickly and easily find quotes and more information directly from our website. Simply enter you or your parents’ ZIP code into the search bar, and you can instantly get life insurance information from several different providers. It’s easy, and you can get started with the online application process right away. Plus, we only work with the top-rated companies, you can always feel confident about your choice when using our website.

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