$5,000 Life Insurance (Cheap Lifelong Coverage)

5000 Whole Life Insurance
$5,000 Life Insurance (Cheap Lifelong Coverage)

Finding $5,000 of low-cost permanent life insurance is simple and straightforward. In this article, our industry experts look at the price of senior burial insurance and plan details.

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The Basics Of $5,000 Life Insurance

Virtually every $5000 life insurance policy is considered whole life coverage, which comes with three critical permanent benefits.

Price Never Increases: Once the plan is active, your price is locked in for life. Unlike other types of policies, there are no games played when it comes to pricing for whole life insurance. Your payment will never increase as time goes on, and the policy never expires.

Coverage Never Decreases: The coverage that you take out does not fluctuate. If you take out a $5,000 life insurance policy, you are guaranteed to leave your beneficiary $5000. Additionally, policyholders have the option to increase their coverage amount if they wish.

Builds Cash Value: Whole life plans build a cash value over time. Policyholders can borrow from the accumulated cash value if they wish.

Two Types of $5000 Whole Life Plans

There are two types of $5000 life insurance plans.

Simplified Issue: This type of policy is the most desired and comes with immediate coverage. You must be approved for this plan type, and qualifications are primarily based on health. Policies become active in just a couple of days after the underwriting is complete.

Guaranteed Issue: This type of life insurance does not go through the same underwriting process as simplified issue because nearly everyone is accepted. These policies cost more and have a waiting period of at least two years.

Term Insurance Options

Term life insurance generally comes in higher coverage amounts and expires after a specific time period or once the insured reaches a pre-determined age. These policies often increase the monthly premiums every few years, catching seniors off-guard and are expected to pay a higher price. This is true of AARP’s Level Benefit Term.

$5000 Life Insurance Policy Quotes

Listed below are $5,000 burial insurance quotes. These are whole life insurance rates for healthy seniors. If you have had medical concerns in the past, the monthly premium could be higher than the listed prices.

50 – 59 Life Insurance Quotes

$5,000 of Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
50 $14 $17 $17 $21
51 $14 $17 $18 $21
52 $15 $18 $19 $22
53 $15 $18 $19 $24
54 $15 $19 $20 $24
55 $15 $20 $21 $25
56 $16 $20 $21 $26
57 $17 $21 $22 $28
58 $17 $22 $23 $29
59 $17 $23 $23 $29

 

60 – 69 Life Insurance Quotes

$5,000 of Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
60 $18 $23 $24 $31
61 $19 $25 $25 $33
62 $20 $26 $25 $34
63 $20 $27 $26 $35
64 $21 $28 $27 $36
65 $22 $30 $28 $37
66 $23 $32 $28 $38
67 $25 $33 $29 $39
68 $26 $35 $31 $41
69 $27 $37 $33 $42

 

70 – 79 Life Insurance Quotes

$5,000 of Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
70 $28 $39 $35 $46
71 $30 $41 $36 $48
72 $31 $44 $38 $50
73 $33 $46 $41 $53
74 $35 $49 $44 $56
75 $38 $52 $47 $59
76 $41 $55 $50 $63
77 $43 $59 $53 $66
78 $46 $63 $57 $71
79 $48 $66 $61 $75

 

80 – 89 Life Insurance Quotes

$5,000 of Coverage

Age Female Male Female Male
Non-Smoking Non-Smoking Smoking Smoking
80 $51 $71 $66 $81
81 $55 $77 $75 $111
82 $59 $82 $82 $121
83 $62 $87 $87 $129
84 $66 $93 $91 $136
85 $70 $98 $98 $143
86 $87 $120 $130 $199
87 $105 $140 $151 $228
88 $122 $160 $172 $258
89 $139 $181 $194 $288

FAQs For $5,000 Life Insurance

What Does a $5000 Whole Life Insurance Policy Mean?

A $5000 life insurance policy is permanent coverage lasting for the insured’s entire life. Your beneficiary is not limited in what they can use the money on as the death benefit is 100% flexible.

What if I Need More or Less Coverage than $5,000?

Some insurance providers offer coverage as low as $1,000. However, there are many forgotten costs when planning for final expenses. When securing life insurance, taking out enough coverage to account for your final wishes should be the top priority.

There are plans that provide more coverage than $5000 if needed.

Other Coverage Amounts

How Do I Apply for a $5,000 Burial Insurance Plan?

There are many life insurance agents offering a variety of plans. If you have determined that whole life final expense is the best option for you, find an agent who is specialized and experienced in this line of insurance.

Why Willamette Life?

Willamette Life is an independent final expense agency representing several top-rated life insurance providers. Our agents find the best coverage for you based on your age, health, and the desired coverage amount.

Call us at 844-576-0019

Final Thoughts About $5000 Burial Insurance Plans

a. A $5,000 life insurance policy will be inexpensive and lasts for the policyholder’s entire life.

b. Age and health play the most significant roles in the cost of life insurance.

c. Working with an independent life insurance agent is the best way to save time and money.

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