Top 7 Senior Open Care Final Expense Plans
Open Care Senior is an independent life insurance company based in the heart of Florida. Among the policies of this company, Open Care final expense plans are the most popular.
In addition, they also sell whole life, term life, cash value life, and health insurance policies. More explanations of the policies of this famous licensed life insurance company are available in this article.
Senior Open Care Final Expense Plans
Open care is an agency. They are not an insurance company. They are simply representing several insurance companies on your behalf. This is not a bad thing.
In fact, this is good because, hopefully, they represent multiple companies, which would allow them to freely compare offers from various vendors to find you the best deal.
Their TV commercials make no mention of the end spending companies they represent. Unfortunately, their website doesn’t provide much more information.
However, after doing some research, we have confirmed that Mutual of Omaha Senior Final Expense Insurance Plans is one of those plans that they sell.
Top 7 Companies Open Care Final Expense Plans for Seniors
Open care Senior is a registered agency. They are not an insurance company. However, they are associated with all of the following top life insurance companies in the USA.
|Sr No||Company||Cost||Why Chose It|
|1||Mutual of Omaha||$63||1. Policies issued up to 80 years, with renewal up to 95 years|
2. Competitive rates
3. Variety of policies
|2||Banner||$54||1. Low rates|
2. Coverage up to 90 years
|3||Prudential||$61||1. Living benefits up to 95% of the value|
2. Policies issued after age 80
|4||State Farm||$75||1. Speak to an agent for personalized help|
2. Renewable up to 95 years
|5||Transamerica||$90||1. Issue policies up to age 85|
2. Variety of font types
|6||Haven Life||$62||1. Supported by MassMutual|
2. Easy online process
|7||Ladder||$70||1. Easy online process|
2. Change coverage later
Best Funeral Insurance
Funeral insurance for the elderly is generally an easy to qualify whole-life policy. It provides quick cash payment typically within days to ensure your funeral costs don’t weigh on your family.
Some companies have a 2-year waiting period, but many offer immediate coverage without a waiting period.
Best Burial Insurance
Elderly burial insurance is generally a whole life insurance policy with no exam required with lenient pricing. Seniors with health problems may still be eligible despite high-risk illnesses.
The profits will be used to cover the costs of the funeral. Coverage typically ranges from $2,000 to $50,000, and premiums are typical $50 to $250 per month depending on gender, age, and coverage purchased.
Open Care Funeral Insurance
There are two types of funeral insurance: standard and Pre-need. Both will help you plan and set aside funds for all of your final arrangements.
Standard Funeral Insurance
Offered by life insurance companies as a whole life insurance policy, they are paid to beneficiaries upon the death of a loved one to pay for final arrangements, which may include:
- Funeral services
- Cost of the burial ground
- Opening and closing of tombs
- Price of coffins
- Gravestone, funeral vault, flowers, obituaries
- Cremation (learn more: How does cremation work?)
- Ballot box fees
Your loved one is also able to work with any service providers they want. The beneficiary may choose to use some or all of the funds for other expenses or debts owed by the deceased, including:
- Legal services
- Medical bills
- Credit card debt
- Mortgage, auto, personal or other loans
Pre-need Funeral Insurance
Provident contracts are offered by life insurance companies and, in some cases, funeral homes. However, these funds go directly to the funeral home you have chosen to work with instead of a designated loved one. They are paid almost immediately after death.
Pre-need insurance can help people save money by allowing them to pay for services that may be cheaper today than they will be in the future. However, if you pay more for your plan than for your funeral, your loved ones won’t get the difference.
This means that if you take out a plan for $10,000 but your final arrangements are only valued at $9,500, the funeral home will not give your loved ones the remaining $1,100. Learn more about what to do when a loved one dies.
AARP final Expense Insurance
AARP offers life insurance that provides affordable funeral and open care final expense plans for its members. When you need a good senior life insurance policy with the right benefits, the AARP Open Care Final Expense Plans can be your answer.
AARP Insurance Company has designed an excellent open care final expenses for senior that will provide your surviving family with invaluable financial peace of mind should you die unexpectedly.
Our future is unexpected and we have no control over it. Although we cannot predict it, we can protect ourselves from misfortunes. Therefore, a smart way to prepare for the future is to have an insurance plan.
Although your financial situation is stable, you have the strength to face an unforeseen situation.
AARP insurance products may be the right option for your situation. Let’s see the 3 options that AARP offers its senior members that cover final expenses:
- Term life insurance
- Permanent life insurance
- Guaranteed life insurance
Open Care Final Expense Plans Commercial
The Open Care Final Spending Plan has been on TV for quite some time now. And it is very advantageous for those who are looking for good funeral insurance.
The advertisement describes them as Open Care Insurance Services, which most likely identifies them as an independent insurance agency and not an insurance company.
Open Care Senior Plan Rates
Here we provide the rate charts of open care final expense plans for seniors gender-wise.
Open Care Final Expense Plans Review
Like most insurances, this policy guarantees us financial protection. In order to understand the importance of these open care final spending plans, let’s see some of its reviews:
- It reduces death costs, it also guarantees the granting of benefits, as long as the premiums are paid.
- Obtaining these policies is easier than other insurances and can be paid monthly or annually.
- The beneficiary can choose what to spend the insurance money on.
- They generally do not require medical examinations and accumulate cash value, which can be used while the policy is active.
Who Needs Open Care Final Expense Plans?
We all need a final expense plan that reduces our families’ financial losses at the time of death. However, the elderly and those who are not in good health are the most in need of open care final expense plans for seniors.
At present, the average cost of a funeral can range from $9,500, this without taking into account the cost of transport, flowers or gravestone.
In general, we have all experienced the death of a partner or loved one. Thinking about this moment, we can remember how painful it can be. It can also become a much more distressing situation if you don’t have the resources to bid yourself a dignified farewell.
Funeral Insurance Coverage
As we have mentioned, open care final expense insurance allows our family to cover the most common expenses of our death, such as:
- Funeral services.
- Coffin, tombstone, vault and flowers.
- Burial or cremation.
- Debts and legal services.
- Loans or mortgages.
Open Care Life Insurance Over 60
In the 60 to 65 age bracket, you can still purchase term life insurance policies from most insurance companies. In that case, we would recommend Haven Life if you are still eligible on their application date for those under 65.
Their application process is the most smooth and their prices tend to be among the lowest.
Once you reach that 65th birthday, you will no longer be able to apply for insurance from some of the companies listed above, including Haven.
Mutual of Omaha offers insurance applications up to the age of 74.
And if you are in your early sixties and think you want to convert a term life insurance policy to a life insurance policy. whole, check out State Farm.
Open Care Life Insurance Over 70
As noted above, Mutual of Omaha invites new applicants for life insurance up to age 74, and North America allows some applicants up to age 75, allow you to purchase life insurance.
So check with these two companies if you are considering taking out a new policy.
If you have previously purchased a life insurance policy from a life insurance company that allows it, such as State Farm, you may be able to renew a term life insurance policy up to age 70.
If you don’t have a renewal option with your current term policy, consider turning to one of the few companies, including Mutual of Omaha and North American, that allow new applicants after age 70.
Expensive whole life insurance options, which may also have higher maximum ages for applicants.
Open Care Life Insurance Over 80
Life insurance companies will not allow you to apply for new life insurance coverage at age 80, except for potentially funeral coverage.
This can be a useful and affordable coverage option if you want to help your family meet these expenses when you die.
But, again, if you’re in a business like State Farm, you may be able to renew an existing policy to extend until you’re 80.
And North American even has a rider that extends your coverage to 120.
Related: What Is Funeral Insurance And Should You Buy It?
Ultimately, it’s essential to think about senior life insurance and your needs long before your 80th birthday.
Your options for new fonts will get thinner and thinner after your 65th birthday and will be virtually nonexistent in the late 70s and beyond.
But you can consider extending existing policies or adding endorsements to those policies to extend your coverage up to age 80 and even beyond if that suits your particular needs.
Do I Need Funeral Insurance?
If you have a substantial life insurance policy that will cover your funeral in addition to your other expenses, you may not need funeral insurance.
However, if you have had difficulty purchasing a life insurance policy due to your medical condition or age, open care final expense plans can bring great financial relief to your loved ones.
Since you usually don’t need a medical exam to get one and they are offered to people up to age 85 (some companies offer policies beyond age 85).
Coverage is usually established based on your answers to the health questions on the insurance application.
Keep in mind, however, that it may take longer for an individual to receive a life insurance payment than a funeral insurance payment depending on the insurance company.
If you plan to have your funeral expenses covered by your life insurance, make sure you know all the details about how long it will take your loved ones to receive the funds.
Can I Purchase Insurance to Cover a Cremation Service?
Yes, you can purchase insurance to cover cremation costs. This is usually a small whole life insurance policy designed to cover the costs associated with a cremation funeral.
These plans are easy to qualify and cost very little since they only insure you for a small amount.
Is Funeral Insurance Worth Buying?
If you can’t afford to pay for your funeral, an end-expense policy is probably worth buying. It can give you immediate peace of mind knowing that your funeral bills won’t become a financial burden on your loved ones.
Is Funeral Insurance the Same as Life Insurance?
Yes, funeral insurance is life insurance. This is usually a small whole life insurance policy meant to provide quick cash payment to your family so that they can pay for your funeral expenses.
What is the Senior Final Expense Program?
A seniors final expense program is a life insurance policy designed to provide enough money to pay for your final expenses, including funerals and burials.
Today, the average cost of a funeral, burial, and related final expenses is around $8,850 according to a survey by the National Funeral Director’s Association.
- Top 7 Senior Open care Final Expense Plans.