$15,000 Life Insurance Policy (Affordable Options)

15000 Life Insurance Policy
$15,000 Life Insurance Policy (Affordable Options)

Life insurance with a coverage amount of $15,000 is both affordable and attainable. These plans are marketed to seniors as burial insurance, but the beneficiary can use the payout for anything.

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$15000 Life Insurance Policy Quotes

Listed below are $15,000 life insurance quotes for seniors. These quotes are whole-life plans with immediate coverage and designed for healthy applicants. With that said, the price you pay could be higher based on your specific health history.

50 – 59 Life Insurance Quotes

$15,000 Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
50 $35 $44 $45 $56
51 $36 $46 $47 $58
52 $37 $47 $49 $60
53 $38 $48 $51 $65
54 $39 $50 $53 $67
55 $40 $52 $56 $70
56 $41 $54 $58 $73
57 $43 $57 $60 $75
58 $45 $59 $62 $77
59 $46 $61 $64 $80

 

60 – 69 Life Insurance Quotes

$15,000 Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
60 $48 $64 $66 $83
61 $50 $68 $70 $87
62 $52 $72 $73 $90
63 $55 $75 $76 $92
64 $57 $79 $78 $95
65 $60 $83 $80 $99
66 $64 $88 $84 $104
67 $67 $93 $88 $111
68 $71 $99 $94 $118
69 $75 $105 $99 $123

 

70 – 79 Life Insurance Quotes

$15,000 Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
70 $78 $110 $104 $127
71 $83 $117 $112 $133
72 $86 $124 $120 $138
73 $94 $133 $128 $144
74 $100 $141 $134 $155
75 $107 $148 $143 $165
76 $116 $159 $152 $175
77 $124 $170 $162 $185
78 $131 $182 $168 $196
79 $139 $193 $174 $206

 

80 – 89 Life Insurance Quotes

$15,000 Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
80 $146 $208 $180 $216
81 $158 $223 $219 $327
82 $169 $239 $239 $356
83 $180 $255 $255 $380
84 $191 $271 $268 $402
85 $202 $288 $287 $423
86 $255 $353 $383 $589
87 $307 $413 $447 $678
88 $359 $474 $510 $767
89 $411 $535 $574 $857

Whole Life Insurance Basics

Whole life plans come with three critical permanent benefits.

Price Lock: The monthly premium will never change, letting you know the exact payment into the future, regardless of how long you live.

Coverage Lock: Once you have been approved for coverage and your policy is in force, the insurance company cannot cancel the plan. Your coverage will always be active if you continue to pay the monthly premium. This means that you will not outlive their life insurance because there is no expiration.

Builds Cash Value: A portion of your premium will go towards the cash value. Having a cash value that builds over time provides a great living benefit. This amount can be borrowed from if the policyholder chooses.

Two Types of Whole Life Plans

There are two main types of whole life insurance plans that someone would get for $15,000; simplified issue and guaranteed issue.

Simplified Issue: You must qualify for this plan by answering a short series of yes or no health questions. Applicants will never be asked to get a medical exam for a simplified issue plan. However, how you answer these questions will dictate the monthly premium and if you qualify for life insurance with no waiting period.

Guaranteed Issue: No medical questions are asked, and every applicant will be approved for guaranteed issue coverage. Guaranteed approval comes with a minimum two-year waiting period and slightly higher premiums. Only seniors with certain severe health complications should get guaranteed acceptance whole life insurance.

Term Insurance Options

A term plan expires once the applicant reaches a specific age or after a certain time period. This plan type is often purchased because it has lower premiums than whole life plans. However, with the lower premiums come different games played by insurance companies.

There are certain companies like AARP life insurance that not only cancel your policy when you reach 80 years old, but the monthly premiums actually increase as you age.

Seniors should avoid the price games and uncertainty of a term insurance plan.

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$15,000 Whole Life FAQ’s

What does a $15000 Whole Life Insurance Policy Mean?

A 15000 whole life policy means you will have coverage until you pass away. These policies offer permanent coverage and premiums that will never fluctuate. Additionally, a $15,000 policy is much more affordable than larger, traditional life insurance plans.

What if I Need More or Less Coverage than $15,000?

Final expense insurance offers extremely flexible coverage options. If you feel that the price for $15000 is too high, try looking into a lesser coverage amount to begin, you can always get additional coverage.

Here are a few other coverage amounts to look into.

How Do I Apply for a $15,000 Burial Insurance Plan?

The process will consist of a simple telephone interview with your insurance agent. During this interview, the agent will gather some basic health information. From start to finish, the process will take around 20 minutes.

Finding an Agent

There are two main ways to purchase a life insurance policy. You can go straight through the company via a captive agent or work with an independent agent.

Captive Agents: If you call a provider directly, they will pair you with a company representative, which is a captive agent. Captive agents only have access to the policies their company offers, so they cannot price check or find a better policy match through another provider.

Independent Agents: An independent agent can represent as many insurance providers as they want. Having more options is an advantage to the end consumer because your independent agent can price shop and recommend the best policy based on your specific needs. This saves time and money.

Why Willamette Life?

Willamette Life is an independent life insurance agency with agents focusing exclusively on small whole life insurance policies that range from $2,000 – $40,000 of coverage. We know the companies and policies that will best fit your health history and budget.

Call us at 844-576-0019

Final Thoughts About A 15000 Life Insurance Policy

a. Finding a $15,000 life insurance policy is affordable and easily attainable.

b. The monthly premium will fluctuate depending on which policy you can medically qualify for.

c. Avoid term insurance when looking for a $15,000 life policy. These plans are often cheaper but will expire when you reach a specific age.

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