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How To Get $25,000 In Life Insurance [Rates & Carriers Revealed]

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Today’s Topic is How To Get $25,000 In Life Insurance [Rates & Carriers Revealed]

NOTE: Would you prefer me to present this information to you in video format? Watch the video below for the complete presentation. Enjoy!

Here’s An Overview Of Today’s Topics:

A 2-minute overview of life insurance options

Here’s the best way to describe what a life insurance policy does:

It’s just basically pay a cash benefit to your beneficiary of your choice when you pass away. When you die, these life insurance policies, generally speaking, pay someone else money and it can be a small amount. It could be a large amount. It just comes down to what amount of money in your policy you want to be paid off.

Now the thing is, is this is a basic definition, but there’s different alterations of what kind of policies do. Meaning not all coverage is the same. Some policies are permanent policies others are temporary. Some policies have price increases, others don’t. Some don’t cover you for a couple of years, and then a lot cover you from the first day.

There’s a lot of variation and it’s important to better define what your goals are and make sure that you can identify what kind of plans you want based off of your goals.

As I mentioned, some insurance policies only pay if you die within a certain period of time. We call those term insurance plans. We will talk about those for a little bit later. Some always pay regardless of the date of your death, as long as the policy is in force, which is what’s called permanent protection.

We’ll cover the pros and cons to each of those later in detail.

But the important point is just to understand the basics of what life insurance does. What does the $25,000 plan exactly do? We understand that if you want a $25,000 life insurance plan and you die, someone’s going to get paid $25,000.

Let’s cover some reasons why somebody would want $25,000 in coverage because again, maybe your life insurance is important and you’ve kind of decided that $25,000 is a good number to start with.

We are here to help. If you would like to find out what you might qualify for, please get in touch by calling (888) 626-0439. You will be under no obligation to buy and your quote will take 10 minutes or less.

Alternatively you can send us a message using the box found on this page. We will be in touch within 24 business hours with more information.

What does a $25,000 life insurance policy do?

Let’s better define what other people like you and your situation have done and why they purchased 25,000 in coverage. First reason I commonly see, and this is more with people 50 and older, is they want a funeral expense plan. Maybe they wanted on their self or perhaps they have a parent that they need some kind of life insurance coverage for.

A $25,000 life insurance plan is fantastic for both funeral or cremation expenses. Funerals generally are much less than 25,000. We see funeral expenses in the 10 to $12,000 range approximately. That can vary wildly depending on what part of the country you live in. Cremation expenses generally are about five to $7,000.

Again, it’s just an average and it can vary widely. However, 25,000 is sufficient not just to cover prices today for final expenses, but also for tomorrow. Meaning, if inflation affects either of these, the $25,000 should do a pretty good job to cover the potential for an inflationary effect.

Also a $25,000 plan can be a great idea for an income replacement plan. What is an income replacement life insurance plan? Well, imagine that you died and you were a significant source of income for your family. Better yet picture yourself being in your sixties or seventies and you’ve left your surviving spouse with all of the obligations financially. Would her income change dramatically with you being out of the picture?

If the answer to that question is yes, a $25,000 dollar plan or greater perhaps would be a great idea to supplement her single income now or his single income and then you take that money and set it aside and it would be used to cover expenses like maybe rent, mortgage and utility bills, so on and so forth, but would give a level of comfort to take care of matters.

Whereas if that wasn’t there, there may be a lot of financial stress. Also $25,000 life insurance plan is a great gift of love. Maybe you want to help out a grandchild or a child get started in life and you’d like to pay a $25,000 plan to them. $25,000 despite what people may say, goes a very long way.

It can give someone a lot of comfort in having some financial flexibility and you can easily buy plan named them the beneficiary and then surprise them with a leg up in life when you pass away, something that they can remember you by.

Also, especially if you’re older and younger too a $25,000 life insurance plan is a good place to start for what we call a mortgage payment protection plan. If especially if you’re older and you pass away, leaving your spouse behind a $25,000 life insurance plan can take care of a lot of mortgage payments for the average American.

Why would you want to do that? Well, if their income is effected and you don’t want your spouse to lose the home, then this will give a lot of breathing room. Perhaps she does want to downsize or sell the house.

Well, instead of doing it in a fire sell fashion where you would not necessarily get the price you’d want, then this will give you a lot of breathing room to get your house on the market, get it up to date and give enough time to sell it.

Mortgage payment protection plans are great for that. You don’t necessarily have to cover the whole mortgage, especially as you get older. It’s a little more pricey, but you could cover just the payments and just buy time enough to get the house ready and sold for maximum dollar. And last, here is a loan pay-down.

This could be the mortgage itself. You could also have maybe credit card debt or maybe a car you want to pay off and you want to make sure it’s left behind to a loved one. The bottom line here is people buy a $25,000 life insurance or any life insurance simply as an act of love.

Most people don’t want to pay for something they’ll never see the benefit for life insurance is a strange purchase because we buy it and we don’t actually use it. It just sits in our cabinet somewhere until we die. And so we never actually see the benefits from life insurance. It’s a strange product.

So you really have to have a strong reason why you want to buy it. And it’s nothing I could pressure you into or anybody else. You have to have this internally and you have to really love someone to buy life insurance.

Exam or no exam?

If you really think about it, you’re spending this money on a life insurance plan because you love someone so much, you don’t want to burden them with money problems. That’s why you buy life insurance because you simply love someone. Now, let’s go into the actual day to day aspects of the purchasing decision.

You may be wondering or perhaps worried, if you have to actually do an examination. In qualifying for $25,000 life insurance plan, examinations are sometimes, but let me stress, not always required.

A lot of these plans are not going to require what you would consider to be a typical fully underwritten process which require a urinalysis (pee in a cup), blood withdrawal, needles or some kind of physical where the doctor asks you questions and just gets a general profile of you. A lot of carriers, a lot of insurance carriers these days when you apply for $25,000 life insurance plan, truly just require a signature for approval.

Now, of course, that signature authorizes you have the company to get medical records from your doctor. But a lot of these companies have better designed products were physical is not necessarily required. And then some just maybe even require just a phone interview. Let’s say you do have the option to take an exam.

Why would you do it?

I’m a big believer that you need to take an exam if you’re younger and you’re very healthy. What I find is the price difference if you’re younger and healthy is significant, but here’s the catch to it. I think you only really need to take an exam if the amount of coverage is a lot bigger than 25,000.

Again, most of these companies, they pay the price to get these exams and they look at getting these plans in force and it’s not worth the cost to pay for an examination if they can find the basic records available in your doctor’s possession.Meaning exams really just aren’t required at this amount.

I only say this if 25,000 is one option you’re considering and you want to do more potentially. The higher, the more likely you want to take an exam to give you a better price. In most circumstances it’s just not required nowadays and you’re better off just not taking an exam.

Now, why would you not take an exam? Well because it’s just simply not offered, or maybe you just are flat out afraid of doing needles. A lot of people are like that. That’s one reason.

There’s just not as much effort around it, plus the price difference just isn’t really that much anymore in the smaller amounts. I’m not a big advocate of it at these amounts of coverage levels.

Top 6 FAQs for people buying $25,000 in life insurance coverage

1.Can I qualify for $25,000 in life insurance coverage?
There are a lot of factors that determine how much coverage you can qualify for. Age and health are important, as are other factors such as your lifestyle and whether or not you want to do an exam. 

2.Why is $25,000 dollars in coverage a good amount?
As brokers we can only make suggestions regarding what coverage amount is appropriate because ultimately it is a personal decision.

Some individuals want just enough coverage to take care of final expenses, while others want to leave behind money to their kids or replace an income. The amount of coverage you choose depends on your goals and what you want to achieve.

 3.What if I need more coverage?
People often worry if they have enough coverage, but I like to remind clients that getting some kind of coverage, even if it is less than you would like, is better than no coverage at all. You can always add to an existing policy further down the line when you have the funds to do so. So start out with an amount you can afford and go from there. 

4.What type of life insurance is best to buy?
Again, this depends on what you are hoping to achieve. If your goal is to cover short term financial obligations, like a mortgage or bank loan, then term insurance is best. On the other hand, if you want to cover permanent financial obligations, like final expenses, burial, or cremation, then a whole life insurance product is best.

5.No other options available
If you are struggling to get coverage due to a chronic health problem, guaranteed acceptance life insurance is a great solution. No health question are asked, making it easier for those with health issues to qualify. 

6.Do I need to take an exam?
Exams are typically by choice, unless coverage is over $400,000. As companies have begun to ease up on their policies to remain competitive, they have begun to offer a non-medical application for those who do not want to go through the exam process.

For a non-medical exam the underwriters rely on previous health records to establish eligibility.

Stories from the field

I often share personal stories with my clients to convey the importance of getting the best quality life insurance in place. This particular story was a reminder to me of how important it is to work with a broker like us at Buy Life Insurance for Burial. 

My father used to work in the life insurance business and just before he retired he passed along a referal to me. The client’s name was Mr. Jones and he was from Albany, Georgia.

Mr. Jones was 85 years old, a retired school teacher, veteran, and most importantly, recently married at the age of 83. He had put in a request to add to his existing policy, as he was concerned about leaving behind extra money to his wife and children.

Mr. Jones had experienced a number of strokes and was taking blood thinners to prevent any further complications. He was concerned this, as well as his age, would affect his ability to get life insurnace in place.

He was especially concerned about getting first day coverage, as he had done his research and was aware that there were life insurance companies out there that offered seemingly great policies, but they required a 2 to 3 year waiting period.

I went away with his information and looked into what we could offer Mr. Jones at an affordable rate.

I’m happy to say we were able to qualify him for preffered rates on several different plans. Most importantly we were able to get him first day full coverage so that his policy would take effect immediately.

Mr. Jones was thrilled with the result and made sure to max out his coverage to ensure his loved ones would receive as much money as possible when he died.

This was all done on a hot, humid Georgia day in May. By the end of the year I got the sad news that Mr. Jones had passed away from heart failure. 

Despite the sad news it was a relief to see my life insurance company pay the entire balance of his death claim to his family.

The reason I share this story with you is because had Mr. Jones bought life insurance from a TV advertisement or a mail-order life insurance company that he was considering, he would not have received a full death benefit payout.

By offering first day coverage we were able to give Mr. Jones the added benefit of immediate coverage, rather than the risk of a 2 to 3 year waiting period that would not have paid out a death claim.

We don’t know when our last day will be. That’s why it’s so important to adequately prepare with quality coverage that will pay a death claim regardless of when you die.

Thankfully, first day coverage is possible through the utilization of a broker like us here at Buy Life Insurance for Burial. We work hard to offer life insurance coverage that offers not only the best price, but also the best coverage. 

If you are interested in finding out more about what your monthly premium options are, please give us a call for a free quote at (888) 626-0439 or send us a request using the contact box found on this page.

You’ll speak to a friendly representative who can explain your options and the application process, as well as answer any questions you might have.

Can I qualify for a $25,000 life insurance policy?

With all that said, you may wonder, can I qualify for $25,000 life insurance plan?

Yes. In most cases, there’s generally two different types of life insurance programs, what we call temporary coverage and permanent coverage and temporary coverage is really your term life insurance. You probably have seen this plastered all over the place.

Term Insurance, generally speaking, the pros include the lowest premium per dollar of coverage. The great thing about term insurance, it’s great for temporary obligations. Maybe you want $25,000 to cover a small mortgage or cover small debt. You can get $25,000 coverage very cheaply. You can get a very good price relative to what you would get for permanent coverage.

But the drawbacks, it’s just temporary. You may outlive the term period and then have a huge price increase and still need it. I don’t like term insurance when we are looking at permanent problems. Term insurance is only good for temporary problems. Why purchase it?

Bottom line, the biggest reason why is because you have a temporary problem. We need coverage for maybe it’s a mortgage, maybe you’re 50 and you need a little extra coverage until you get 65.

The other reason that’s a little interesting at these levels, as you look at permanent plans and you just scoff at the price and you want to get a term life insurance plan because it’s a lot less expensive, but you understand you could outlive it.

I believe some coverage is better than none, even if it’s not exactly the best plan in place. Term insurance plan is a good option as a $25,000 life insurance plan, if you just can’t afford the equivalent $25,000 permanent life insurance plan. Permanent coverage is whole life, or what GUL stands for is guaranteed universal life insurance coverage. And the biggest pros here is that the policy doesn’t cancel due to age your health.

As long as you put the policy into force and pay the premiums as required, doesn’t matter how long you live, you’ve got the coverage. There’s a higher price for this kind of coverage.

As you can imagine, this is the biggest drawback when you’ve got a guaranteed policy that will guarantee that you pay out as long as you pay the premiums on schedule, then you’re going to pay more for that because the company knows it’s going to pay versus with term insurance they may not pay. And most times they don’t because most people outlive it.

The biggest reason we purchase the permanent insurance plan is because you have a permanent problem. Again, death is a permanent problem. Nobody escapes death. So if you look at a final expense plan for $25,000, that’s a great reason to buy a permanent plan. So I highly recommend permanent coverage for permanent problems like final expenses.

Simplified/Non-Med $25,000 Life Insurance

When I say simplified issue, non med issue, these are agent terms and what they really mean is there is no examination required for approval. They just pull doctor’s records.

They look at medical records, prescription records, and use that to determine your insureability as opposed to sticking you with needles and blood and urine. All that stuff.

Pros here include great option for those with health history issues as it’s a simplified process. It’s not complicated. A lot of times these programs have looser underwriting standards, if you’ve got health history issues or your loved one does, these are great options because there are better plans potentially available. And I have endless case studies where simplified issue product just does an amazing job.

I’ve covered people with COPD, I’ve covered people with diabetes, with insulin. I’ve covered people with cancer history, heart history issues, neurological problems, behavioral health problems and the list is endless. These people would be normally disqualified with many insurance companies are easily qualified.

Of course, I can’t tell you what you would qualify for to say that as a kind of general statement until we actually submit an application and see what the underwriters want. The issue pops up process and getting the policy approved usually is very fast. Usually days if not a week to two weeks or so.

Biggest drawbacks, you’re going to have to pay more than having an exam. With these plans, again, that may or may not be the issue at this amount, and this is really just in reference in general when compared regardless of the premium or the face amount or the amount of death benefit that would pay be paid out. Just understand that, but it’s not really that big of a deal at 25,000 it is at a hundred or 500,000.

Fully Underwritten $25,000 Life Insurance

Let’s talk about a fully underwritten $25,000 life insurance program and this is again a fully underwritten, requires an entire examination. Blood, urinalysis, physical. Very healthy people may get a better price with these types of plans. Again, it’s probably not going to be an option for you at $25,000 in coverage.

A case study where I’ve seen this happen, you know, I’ve looked at $25,000 plans that were simplified issue and there are companies that will do fully underwritten at this age and there’s a dramatic difference in price.

You know, we’re talking sometimes a half to two thirds of the price and that can really add up over a lifetime of premium payments. Drawbacks include longer turnaround time for weeks to months, and exams may reveal, unknown health issues.

Some people find out they’ve got cancer. When people find out they’ve got high blood pressure, cholesterol problems, diabetes, and that may affect your insurability with rate up potentials.

Reality here again, I stressed it several times already. It’s very unlikely you’ll need to even go through this process of a fully underwritten exam. If you stick with a $25,000 plan, that may change as you start to add higher dollar amounts of coverage.

What are the best rates/insurance companies for a $25,000 life insurance policy?

Now it’s time to look at some $25,000 rates for life insurance coverage. What we’re going to do is look very, very quickly at a 40, 50, 60, 70 year old female and male, non-smoker. And again, totally educational purposes only.

Ladies and gentlemen, I can’t promise that anything you see here is going to apply to you. We’re just going to look for the term insurance at a 10 year rate for the females and males. And then we’ll look at permanent coverage for the males at $25,000 coverage and female.

We can do higher with term insurance. Again, this is just an introductory rate based on someone who is in very good health. Let’s take a look and see how much we’d be getting at each of these levels. Here’s some prices for males that want a 10 year term at 40 years old. Here’s a male price for a 10 year term at 50 years old.

Here’s the 10 year term for males who want this at 60 years old. And here’s a 10 year term for males, they want coverage at 70 years old for a 40 year old female. Here’s what you’re looking for. A 10 year term for 25,000 female, 10 year term for 50 year old female is the prices are there for a 60 year old female.

Here’s the prices for a 10 year term. And for a 10 year term female at 70 years old, here are some prices to consider. Now we’re looking at at permanent coverage, both guaranteed universal life lands and whole life plans. Here’s a 40 year old male for $25,000 in coverage. Here’s prices for a 50 year old male for permanent coverage.

Here’s a pricing for six year old male for permanent coverage. And here’s the pricing for a 70 year old male with permanent coverage. Here’s pricing for a female for $25,000 in coverage for permanent coverage. Here’s pricing for a 50 year old female for permanent coverage. Here’s pricing for a sixty year old female for permanent coverage. And here’s pricing for a seventy year old female for permanent coverage.

Other factors to consider if $25,000 premium’s too high

A few final factors here, you may be wondering, can you get more coverage if you’re older or younger than the age is shown here?

Yes. There are options for $25,000 in life insurance available. What if your health isn’t good? Will that affect price? Yes. What if you smoke? Yes, of course. All these little factors will make a difference.

Again, you can’t show all of the numbers (it would take forever), but this has just kind of a stepping stone to give you an idea of where you’re looking for coverage depending on what kind of plan you may ultimately think you’d like.

Maybe one thing that crossed your mind here, looking through the $25,000, especially at the older ages or perhaps the permanent coverage, you just kind of balk at the price. That’s fine.

I’m a big advocate again, that something is better than nothing. And we have the old saying as insurance agents how to eat the elephant and while you do it one bite at a time.

It’s better to get some kind of life insurance in place that not have any life insurance at all, even if that means that you have to start with a less than desirable type of policy that doesn’t quite match your needs. Let’s talk about some alternative strategies I like to employ with my clients if pricing is a problem.

The first thing you can get is a term life insurance with a permanent conversion option. This is great.

Most term insurance offers the ability to get you covered and then up to a certain age, usually at the end, by the end of the term or by the age of 70, it’s going to depend. Of course you have the option to call the company up or call your agent up like me and then have it turned into permanent life insurance that will raise the price.

But it gives you the ability to get permanent coverage if that’s what you really want.

And you do not have to prove your insureability meaning you don’t have to go through an exam or answer health questions. This way you can start with coverage and pay less.

But know that you’ve got the option to overturn it to permanent coverage down the line. Great idea if you really like permanent coverage, but you see that price and you’d rather pay a term price, but know you’ve got options in the future to turn it to permanent.

Another option of course is to start with a smaller amount of life insurance coverage. You know, a $10,000 coverage plan, especially if you’re looking at final expenses, is a great idea.

This would be if somebody wanted $25,000 permanent coverage, perhaps a $10,000 plan, a lesser expense would be a better idea of something to start with. Now, here’s the thing, something is better than nothing.

The last thing I want you to do is to look and agree that life insurance is important to see a plan that would fit your budget in order to see something you really want.

But you just say no and you don’t get anything. I think that is not a good solution. You should be willing to compromise and start with less than what you’d like, but still more than nothing at all. So pick something that’s better if you’re not quite sure what your options are. That’s where I come in to help you out. Let’s talk about that.

Case study examples

Rates Going Up

A very upset client recently gave us a call to say that she had paid on her current life insurance policy for many years, but had recently received a notice that her rates were going to significantly increase.

This left her in a difficult situation because she was on a fixed income and could no longer afford the policy. She explained that she was in good health, but that she did suffer from depression and regularly took medication to combat her mental health issue.

We looked at a number of providers and found a policy that offered lower rates with first day coverage. This client was very pleased with the end result and was able to switch her policy over.

Every client is unique, therefore we can’t guarantee coverage. But we certainly do our best to find quality coverage for every client whenever possible.

Taking Care of Loved Ones

After having took on a 30 year mortgage, a young man came to us looking to get a 30 year term life insurance policy. He explained he was the sole income earner for his family and he wanted to be sure his wife and children would be able to continue to make house payments if he died unexpectedly.

The only foreseeable problem was that this gentleman had high blood pressure. He had taken medication for a number of years to combat the problem and was concerned this would impact his application.

I’m happy to report we were able to get this gentleman first day full coverage to give him peace of mind in knowing his loved ones would be able to stay in their home if he should pass away unexpectedly.

We strive to find affordable, quality coverage for every individual, though we can’t promise your application will be accepted. Underwriting relies on a  number of factors and will ultimately determine your eligibility.

Next steps

How do you apply for life insurance plan?

Find first and agent you like that is hopefully representative of multiple companies. That’s who I am and what I do. That’s why I’m nominating myself. Second, once I listened to your goals then I will run a quote for you and assuming you like what you see, we will apply with the company to see if they will accept you.

We do that process over the phone or we do it via email. It’s a very simplified process now. It does not require a visit the vast majority of the time.

My goofball son and I thank you for reading, and hope you’ve gained truly valuable information on your search for life or burial insurance. If you’re ready to discover your options for life or burial insurance, call me at 888-626-0439 now for your free life insurance quote!

Then after several days or weeks you’re coverage will be approved and if you’re accepted – great. If you’re declined, you’re declined and we can find another company instead, there are other options and then usually several weeks later you received your policy in the mail and that’s literally all that needs to be done. Let’s talk about the next step.

If you like the idea of qualifying for $25,000 life insurance plan or some other amount of life insurance, two steps you can follow.

First, go to buy life insurance for burial.com. To request a free quote, I recommend you click the contact box on the top and send me a message or you click the little pop-up box below and send me a message that way. Otherwise you can call me at 888-626-0439.

Leave a voicemail if you don’t get me live. I usually respond back within the day. If you liked this article, please leave a comment. Also, feel free to subscribe to my YouTube channel if you found this information useful.

To find out more about your life insurance options you can get in touch by phone at (888) 626-0439 or send us a request using the contact us box on this page. Thank you very much for reading this article. Take care.

 

About BuyLifeInsuranceForBurial.com
About BuyLifeInsuranceForBurial.com

We work with individuals across the nation to secure the best life insurance rates.

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