Final Expense Life Insurance for Seniors in Georgia

Last Updated on 4 weeks by finalexpenseresource

Life expectancy in Georgia for someone born in 2018 is now 77.9 years. Good for our grandkids but it doesn’t apply to us. Do you have your final expenses covered yet?  We’re going to show you the guaranteed best way to find the lowest possible rate on Final Expense Insurance in Georgia.  It’s quite simple.  You can guarantee your loved ones you only leave behind pleasant memories. No one wants to leave behind expenses that family may be legally required to pay.

Guaranteed Best Way to Cheap Final Expense Insurance in Georgia

Final Expense Insurance GA

You can get a free, no obligation quote by inputting a few pieces of information into our quote engine.  In just a few seconds you’ll be able to see on your screen all the rates you want.  Play around with different parameters if you’d like so you can see differences.  Our quote engine survey’s a large number of final expense life insurance companies that want to offer you a policy. All you have to do is get in contact with us and we’ll fix you up with any one you’d like.  Time is of the essence though.  The quicker you act the better your rate will be.  Do you think you need coverage?  Read on and we’ll see.

How Much Does a Funeral Cost in Georgia?

Direct cremation is by far the cheapest option in Georgia.  It is in other States as well.  This option involves transferring your loved one to the crematory, basic services of the funeral director, the cremation and the return of the remains to the family.  This is a really good option not only for cost but also for time.  The quick cremation of the body gives the family time to prepare a proper memorial service.

Immediate burial and full funeral prices listed below includes transfer of your loved one to a funeral home; basic services and overhead of funeral director and staff; supervision of the burial at a local cemetery. The other expenses to discuss are funeral services, ceremonies or rites. The prices below don’t include viewing, embalming, casket, vault, opening/closing of the grave, burial plot cost, hearse cost if needed.

Looking at the costs of a funeral in Georgia, they’re right in line with others States we’ve surveyed. 

Direct CremationImmediate BurialFull Funeral
Average Cost$1,549$3,151$5,869
Lowest Cost$895$1,895$3,495
Highest Cost$1,965$4,595$8,850

What Is Final Expense Life Insurance for Seniors?

Final expense life insurance is a whole life policy for Seniors.  Ages can range from 50-85 depending on the insurance company.  The name of the type of policy it is perfectly describes what it’s mainly used for.  Most buyers of this type of policy are using the proceeds to pay for final expenses.  Mostly it’s the cost of a funeral but can also include more.  You can get a policy for as little as $1,000 and sometimes up to $50,000.  With those amounts your beneficiary can pay for a cremation up to a full funeral complete with a hearse.  There may even be some left over for a legacy gift.  It’s all up to you and what your final wishes are.

What Are the Benefits of Final Expense Life Insurance?

  • Peace of mind – in my book this is the #1 reason to get final expense insurance in place.  By doing this, you’ve taken the steps to provide for your final expenses.  Your loved ones won’t be saddled with debt you leave behind.  It’s covered.  Leave your loved ones with wonderful memories instead.
  • Lenient underwriting – the companies that offer final expense life insurance for seniors in Georgia are willing to take on higher risk than normal.  In nearly every case, there is no medical exam.  Sometimes there are even no medical questions at all.
  • Free look period – in Georgia you can get a final expense insurance policy and then have 10 days to “look” at the policy.  Meaning, you have 10 days to decide if you want to keep it or not.  If not, let your agent know and they’ll set up the refund process.
  • No medical exam – since the insurance companies are willing to take on a little extra risk for extra premium, there is no medical exam
  • Your coverage cannot be canceled – as long as premiums are paid as agreed, your coverage will not be canceled.
  • Your policy does not expire – a final expense policy is a whole life product.  Unlike term insurance where you have an expiration date, whole life is good until death.  It will be effective for your whole life.
  • Policy benefits won’t decrease – Another great benefit of a final expense policy is that the death benefit does not decrease.  It stays the same throughout the policy period.
  • Premiums will never increase – isn’t that great piece of mind?  Lock in the lowest premium possible at the youngest age you can.  Premiums will not increase due to any change in health or for any other reason.

Can I Qualify?

You absolutely can.  More peace of mind for you right?  There are 4 types of final expense insurance in Georgia:

  • Level/preferred – This is by far the most cost-effective option if you’re in relatively good health with no recent medical issues. With this level of coverage, your policy is effective immediately upon approval and payment of the first premium.
  • Graded Benefit Plan – This plan level is still pretty good and prices are still reasonable. A plan like this will be offered if you had to say “yes” to certain health questions. A 100% death benefit isn’t available on day one. However, conditions of this level will allow for between 75% – 80% death benefit payout depending on the insurance company.
  • Modified Benefit Plan – This plan level is offered when you’ve had to say “yes” to a number of health questions. At this point we need to compare what the prices are in a Guaranteed Acceptance policy. However, this level is usually less expensive than Guaranteed. If you pass away in the first 2 years after the policy goes in effect, your beneficiaries will get back only the premiums you paid in. If passing is after the 2-year waiting period than 100% payout of the death benefit is guaranteed.
  • Guaranteed Issue is the level of coverage that is the most expensive but certainly has its place for people who desperately need coverage but cannot qualify for Level/preferred due to some type of medical issue – cancer, COPD, heart disease, diabetes, etc. With this type of policy, the face value is payable if you pass away two years after the purchase date. If you pass away before the two-year waiting period then your beneficiary gets the premiums paid to that point plus 10% (sometimes a higher percentage depending on the insurance carrier). But you do also get the 5 Guarantees of Final Expense Insurance + one more – There are NO medical questions.

What Factors Determine How Much I Pay?

There are 6 main factors that final expense insurance companies consider when looking to issue anyone a policy:

  • Your Home State – not all insurance companies offer policies in every State.  There are also certain risks associated with living in one State vs another.  Considerations like population, crime rate, weather, pollution and other factors are unique to every State.
  • Coverage amount – Final expense policies are offered with coverage amounts anywhere from $1,000 to $50,000.  Higher death benefit amounts will, of course, cost more per month.
  • Overall health – the healthier you are the cheaper your rates will be.  You can also qualify for higher policy amounts if you want to.
  • Age – The younger you are, the cheaper monthly premiums will be.  Once you’re premium is locked in though, it never goes up!
  • Gender – Did you know rates are lower for women than men?  This is because women tend to love longer and have a lower risk of passing away while coverage is in place.
  • Tobacco use – You can still qualify for a policy even if you’ve smoked for years.  You’ll se better rates as a non-smoker but tobacco use doesn’t cut you out of a policy.

How Much Final Expense Insurance Do I Need?

That all depends on what your final plans are.  Do you plan to be cremated or have a full funeral and burial?  At Final Expense Resource we recommend that if you plan to be cremated then you should look at a policy with a face amount of $5,000.  If you’re planning to have a full funeral and burial then start with a minimum of $9,000.  More than likely, you’ll need to go to $15,000 to $20,000 for the full funeral and burial.  Let’s see though.  No need to buy more than you need!

The Final Expense Resource Experience

One word in that heading says it all – Experience.  This is all we do.  We’re an independent agency of final expense experts.  Since we’re independent, we’re free to show you the very best rates from the top final expense insurance companies across the country.  We’re not tied to any one company.  We’re tied to our clients so we can offer the best policy at the best possible price.  We love to listen to your needs and concerns so we can suggest how to take care of what you need.  There’s another key word – suggest.  We never hard sell anyone.  Time spent with us is just a conversation so we can advise you on what you need.  If you want a policy, we’re happy to assist.  If you don’t, not a problem.  You’re the one in control.  Feel free to call on us anytime when you have questions.

Give us a chance to earn your business though.  Call and let us know what you’re looking for and we’ll come up with the best, cheapest way to fund your final expenses.

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