Exclusive Guide to Final Expense Life Insurance for Seniors in Ohio

Final Expense Life Insurance Ohio

Ohio, what a great place to live.  With Music Halls of Fame for Rock, Blues, and Classical, and the Pro Football Hall of Fame and all the Pro and College sports I don’t know how anyone has time for work.  We haven’t even mentioned Lake Erie activities.  With all those things taking up your time, we can help you find great final expense life insurance for seniors.  We are licensed in Ohio and can definitely get you the best plan for you at the best rate.




Average Cost of a Funeral In Ohio

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

Direct CremationImmediate BurialFull Funeral
Average Cost$2,221$2,565$5,837
Lowest$739$985$3,550
Highest$3,950$4,595$8,830

Akron and Elria had the cheapest prices for Direct Cremation and Immediate Burial. The best price for a Full Funeral was found in Cleveland.  Willoughby Hills and Shaker Heights came in with the highest prices for Direct Cremation and Immediate Burial.  Middleburgh Heights currently has the highest price for a Full Funeral. These prices don’t include a lot of the extras you’ll probably want.  Be sure to plan carefully so you’ll know exactly what you’re spending.

How To Fund Your Burial In Ohio

There are several different ways to accomplish this.  Among them being using savings or selling some assets.  You can also pre plan with a funeral home or crematorium and set up a payment plan.  What if you pass away before all the money you need is paid?  That’s where Final Expense Resource comes in.  We can help you find a final expense life insurance that fits your needs.

Types of Final Expense Life Insurance in Ohio

Level/preferred – This is by far the most cost-effective option if you’re in relatively good health with no recent complex medical issues. With this level of coverage, your policy is effective immediately upon approval and payment of the first premium. You get the 5 Guarantees of Final Expense Insurance as long as premiums are paid as agreed:

  • There is no medical exam
  • Your coverage cannot be canceled by the insurance company
  • Final Expense policy does not expire like term insurance does
  • Policy benefits will not decrease
  • Premiums will never increase

Graded Benefit Plan – This plan level is still pretty good and prices are still reasonable. This plan level 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 then 100% payout of the death benefit is guaranteed.

Guaranteed Issue – This level of coverage that is the most expensive. It certainly has its place for people who desperately need coverage but cannot qualify for Level/preferred. Maybe there’s 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.

Can I Qualify for a Final Expense Life Insurance Policy?

You absolutely can.  The underwriting is very lenient with this type of coverage but you do pay for that leniency in premium.  Final expense life insurance policies for seniors are more expensive than traditional life insurance.  The higher price is due to the insurance companies accepting higher risk people with little to no health questions.  Can you qualify?  Absolutely.  Let’s answer a few health questions and Final Expense Resource can give you a number of top-rated companies to choose from.

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!

How Much Does a Final Expense Policy Cost?

Sample Final Expense Ohio Policy Rates for a 50-year Old

GenderCoverage AmountPolicy LevelTobacco UseMonthly Premium
Male$5,000LevelNon-Smoker$17.93
Female$5,000LevelNon-Smoker$14.18
Male$5,000LevelSmoker$26.61
Female$5,000LevelSmoker$20.83
Male$5,000GuaranteedNon-Smoker$49.29
Female$5,000GuaranteedNon-Smoker$38.67
Male$5,000GuaranteedSmoker$49.29
Female$5,000GuaranteedSmoker$38.67

Sample Final Expense Ohio Policy Rates for a 60-year Old

GenderCoverage AmountPolicy LevelTobacco UseMonthly Premium
Male$5,000LevelNon-Smoker$23.74
Female$5,000LevelNon-Smoker$18.87
Male$5,000LevelSmoker$39.76
Female$5,000LevelSmoker$28.94
Male$5,000GuaranteedNon-Smoker$67.81
Female$5,000GuaranteedNon-Smoker$52.88
Male$5,000GuaranteedSmoker$67.81
Female$5,000GuaranteedSmoker$52.88

Sample Final Expense Ohio Policy Rates for a 70-year Old

GenderCoverage AmountPolicy LevelTobacco UseMonthly Premium
Male$5,000LevelNon-Smoker$38.37
Female$5,000LevelNon-Smoker$28.61
Male$5,000LevelSmoker$44.60
Female$5,000LevelSmoker$36.71
Male$5,000GuaranteedNon-Smoker$54.00
Female$5,000GuaranteedNon-Smoker$41.21
Male$5,000GuaranteedSmoker$54.00
Female$5,000GuaranteedSmoker$41.21

Sample Final Expense Ohio Policy Rates for a 80-year Old

GenderCoverage AmountPolicy LevelTobacco UseMonthly Premium
Male$5,000LevelNon-Smoker$74.73
Female$5,000LevelNon-Smoker$58.29
Male$5,000LevelSmoker$74.19
Female$5,000LevelSmoker$62.05
Male$5,000GuaranteedNon-Smoker$157.98
Female$5,000GuaranteedNon-Smoker$114.30
Male$5,000GuaranteedSmoker$157.98
Female$5,000GuaranteedSmoker$114.30

Why We Are Your Exclusive Final Expense Source for Life Insurance for Seniors

Simply put, it’s all we do. Quality, service, understanding and trust are among the most important components when considering a purchase of any kind. When needing something as important as final expense life insurance those attributes are especially important. Policies that fall into this category are different from what we consider “traditional life insurance.” For the most part things are pretty straight-forward. However, the process can get tricky when someone’s age or complex health issues enter the picture. You’ve absolutely come to the right place! By focusing on this one area of Final Expense Insurance, we know the specifics. We know the ins-and-outs to make you aware of. We’re best equipped to help you get the highest amount of coverage for the best possible price. Call us today for your own piece of mind.

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