Prices are high in New York, and that includes the price of funerals and burials. Many local families decide to purchase a burial insurance plan in New York to make certain that they have plenty of cash to make funeral arrangements. You can find a final expense insurance for people over 80, so it is too late to make sure your family gets protected. One advantage of buying a New York burial policy for seniors is that the beneficiary of the plan can use the proceeds in any way that he or she sees fit. Let us help you compare the best burial insurance quotes online from top companies. You might begin by supplying the form at the top of this page with your local ZIP code. If you have more questions, you can call to speak with an agent.
Statistics for New York Funerals and Funeral Insurance
- NY Expected life span: 78.2
- Average household income in New York: $57,683
- Typical cost of a New York funeral and burial: $7,300, not including the grave site
- Typical cost of a New York cremation package: From less than $1,000 to more than $2,000
- New York City population: 8,175,133
- Brooklyn population: 2,300,664
- Queens population: 2,272,771
- Manhattan population: 1,487,536
- Bronx population: 1,385,108
The Cost of a NY Burial Policy for Seniors
New York burial insurance companies base their monthly prices upon age, health, and benefits. While price should not be the only basis for your comparison, you might be interested in some sample prices for a New York woman who is 50 and does not use tobacco:
- $5,000: $17.41
- $10,000: $32.21
- $15,000: $47.01
These are only sample monthly rates, and they might vary because of company, location, or underwriting. While adult kids are free to pay premiums for their elderly parents, the individual who gets covered has to get included in buying a policy. That person might need to answer phone interview questions or sign the application. Also, paying by ACH deductions from a savings or checking account is the safest option to ensure the plan will not lapse because of a missed bill.
Can Every New Yorker Buy Funeral Insurance?
Almost everybody can qualify for some type of burial policy, and the good news is that some plans that are marketed to seniors will accept people over 80. There are two kinds of burial plans, and it is important to try to apply for the right one for your needs:
- Guaranteed acceptance life insurance: You do not have to answer any health questions, and every qualified applicant gets accepted.
- Simplified issue: You must honestly answer a few health questions, and people with very serious illnesses might get declined.
Why would anybody want to answer questions if they can find another burial policy that does not require medical information? Typically, answering questions helps qualify relatively healthy people for cheaper prices. Also, guaranteed acceptance policies may have a two to three year waiting period before they will pay the entire death benefit, and before that, they may only pay a percentage of the benefit or return payments.
Compare the Best New York Burial Insurance Companies
As you can see, it is important to compare benefits, companies, and rates for your own city. By keying your ZIP code into the online quotes box at the top of this website, you can view top companies in your area. You are also free to call us for a chance to consult with a professional agent. By providing individualized service online and over the phone, we strive to help each of our New York clients find the best final expense insurance for themselves of their parents.