(540) 226-8715

There are many life insurers out there who market various products to the senior market. Most all of them do an excellent job by providing solid life insurance products with competitive pricing and may offer outstanding customer service to their policyholders and the agents that represent them. Here, we'll discuss burial insurance for seniors from Security National Life Insurance Company.

Security National Life Insurance Company is one of those insurers who standout because not only do they offer multiple burial insurance policies, they are one of the few that will offer a new policy up to age 90. Most companies limit new applicants to age 85, so this makes them particularly unusual.

 

About Security National Life Insurance

 

Established in 1965, the company is rather young compared to those who were established in the 1800s but they have established certain business activities that separate them from the rest of the pack. For example, their product portfolio not only includes burial insurance for seniors, they also offer preneed funeral products and scuba divers insurance. For the purpose of this article, however, we will focus on their burial insurance for seniors.

Security National is publicly held and traded and although they are not currently rated by A.M. Best, they are considered to be financially solid and even post their financials for public scrutiny. As for marketing, the company is considered a pioneer by being the first life insurer to provide a cell phone app to simplify funeral planning. This company enjoys competing with major insurers like Lincoln Heritage or Colonial Penn.

 

Burial Insurance for Seniors from Security National

 

Security National currently offers three final expense and burial insurance products. Each plan is whole life insurance which means the policyholder receives the guarantees and benefits that traditional whole life insurance offers:

  • Insurance coverage for a lifetime – Whole life insurance policies cannot be canceled by the insurance company as long as the premiums are paid. This guarantee will provide the peace of mind knowing that the policy will be there when you need it most.
  • Level Periodic Premiums – Once issued, the policyholder’s premium can never be changed by the company, even if the insured becomes critically ill or must live in a nursing home or hospice.
  • Cash Value – The Security National final expense and burial insurance is whole life insurance and as such will build cash value over time which can be accessed using policy loans or withdrawals.

 

Security National Preferred Plan

 

The Preferred Plan is traditional final expense insurance with a level death benefit, first-day coverage, and no medical exam. This plan was designed for applicants that do not have serious health issues and if qualified, the plan is very competitively priced.

Eligible Ages: 40 to 90-years Old

Minimum Face Amount: $2,500

Maximum Face Amount:

  • Ages 40 to 75: $35,000
  • Ages 76 to 80: $15,000
  • Ages 81 to 90: $10,000

 

Security National Standard Plan

 

The Standard Plan is also traditional final expense insurance but anyone who answers yes to the insulin question will not qualify for first-day coverage.

Eligible Ages: 40 to 90-years Old

Minimum Face Amount: $2,500

Maximum Face Amount:

  • Ages 40 to 75: $25,000
  • Ages 76 to 80: $15,000
  • Ages 81 to 90: $10,000

 

Security National Graded Plan

 

Security National’s Graded Plan was designed for applicants who do not qualify for the preferred or standard plans. It is not, however, guaranteed issue life insurance. This means that if an applicant answers yes to 3 or more of the health questions, an insurance policy cannot be issued.

Eligible Ages: 40 to 85-years old

Minimum Face Amount: $2,500        

Maximum Face Amount:

  • Ages 40 to 75: $25,000
  • Ages 76 to 80: $15,000
  • Ages 81 to 85: $10,000

 

It’s important to note that the graded plan does not offer first-day coverage. Security National’s Graded Plan comes with a two-year waiting period for coverage. This means if the insured dies within the first two years the death benefit will be 110% of the premiums paid to the company. After the waiting period expires, the company will then pay the full death benefit.

 

Burial Insurance for Seniors Quotes

Below, we have listed actual rates for a $15,000 Preferred Burial Insurance Policy for Seniors:

burial insurance for seniors from Security National

burial insurance for seniors from security national

For an accurate quote for your actual age, please feel free to use our world-class quote engine on the right side of this article.

 

We Help You Compare and Save!
For more information about burial insurance for seniors and to get a free and confidential quote, call the professionals at Life Policy Shopper at (540) 226-8715 during normal business hours, or contact our office through our website at your convenience.

 

Terry Biddle is a business owner, blogger, retired Army National Guard officer and a current federal employee. He works with seniors, federal employees, and members of the military to get the most life insurance benefits at the greatest value across the full spectrum of term and permanent products from fully underwritten to no-exam and guaranteed issue. Please feel free to contact me here.