- Term Life Insurance vs. Whole Life Insurance Plan for a Death Benefit Amount of $25,000
- How Much Does $25,000 of Final Expense Life Insurance Coverage Cost?
- Choosing the Best Life Insurance Company
- 3 Highly Rated Life Insurance Companies for A $25,000 Whole Life Insurance Policy
- How Do You Choose? Simplified Issue Final Expense Insurance vs. Guaranteed Acceptance
- 4 Strategies to Lock In Affordable $25,000 Life Insurance Rates
- Next Steps to Buying $25,000 Life Insurance
A $25,000 life insurance policy can provide your loved ones with funds to cover end-of-life expenses like funeral costs, outstanding medical bills, and other debts when you pass away. While it may not replace your income, buying coverage can make a big difference in easing the financial burden on your family.
With average funeral expenses totaling $9,000 to $11,000, a $25,000 fixed death benefit can provide enough coverage for final arrangements and any outstanding debt so your family can have financial security during this difficult time.
In this comprehensive guide, you’ll learn about:
- The different types of $25,000 life insurance policies available
- The monthly cost of life insurance based on your age and gender
- How to choose the best insurance company for your needs
- Strategies to lock in affordable premiums
Follow along for everything you need to know to secure budget-friendly life insurance protection to cover final expenses.
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Term Life Insurance vs. Whole Life Insurance Plan for a Death Benefit Amount of $25,000
At $25,000 of coverage, you have two options for life insurance: term life and whole life. Let’s take a look at both.
Term Life Insurance
Term life insurance policies have fixed premiums and provide a level death benefit protection for a set period, such as 10, 20, or 30 years. Unlike whole life policies, they do not build cash value.
Term policies generally offer the most affordable coverage for younger individuals in good health whose life insurance needs may be substantial for a fixed time.
Many companies offer minimum coverage starting at $100,000, but GetSure works with many premier life insurance companies that provide $25,000 term life insurance.
Most term life insurance companies require a medical exam and extensive underwriting. However, some carriers now offer simplified issue term life insurance policies with no medical exam required. With a simplified issue term life policy, you’ll answer some medical history questions but skip the medical exam.
Whole Life Insurance
Whole life insurance offers permanent coverage and will pay death benefits for your entire life. Premiums stay level forever and never increase with age.
GetSure works with carriers offering guaranteed and simplified issue whole life insurance, which have a more lenient underwriting process than traditional policies. These policies require no medical exam, making approval easier even for those with poor health.
These policies also have a cash value component you can tap into, making it a safety net and a potential financial asset.
How Much Does $25,000 of Final Expense Life Insurance Coverage Cost?
Next, we’ll show you term life and whole life insurance quotes.
Term Life Insurance Rates
If you’re looking for term insurance, below you’ll find your lowest rates for a $25,000 simplified issue term life insurance policy. Note that these monthly costs are for healthy non-smokers.
$25,000 Term Life Insurance Rates for Men
| Age | 20 Years | 30 Years |
|---|---|---|
| 40 | $9 | $11 |
| 41 | $9 | $11 |
| 42 | $9 | $12 |
| 43 | $10 | $12 |
| 44 | $10 | $13 |
| 45 | $11 | $13 |
| 46 | $11 | $14 |
| 47 | $12 | $15 |
| 48 | $12 | $16 |
| 49 | $13 | $17 |
| 50 | $14 | $18 |
| 51 | $15 | $20 |
| 52 | $16 | $22 |
| 53 | $17 | $24 |
| 54 | $18 | $26 |
| 55 | $19 | $27 |
| 56 | $21 | N/A |
| 57 | $22 | N/A |
| 58 | $24 | N/A |
| 59 | $27 | N/A |
| 60 | $29 | N/A |
| 61 | $32 | N/A |
| 62 | $36 | N/A |
| 63 | $39 | N/A |
| 64 | $42 | N/A |
| 65 | $44 | N/A |
These term life rates illustrate how premium costs rise with age, policy length, and gender differences.
- We’re showing term life rates starting at 40 years old for both 20-year and 30-year policy terms, but policies are available at younger ages.
- 20-year term policies are available up to 65, and 30-year term policies are available up to 55 or 56 before becoming unavailable.
- Monthly premiums start low for the youngest ages and gradually increase each year. For 20-year policies, rates approximately double from age 40 to age 65 for both men and women.
- Due to longer life expectancy, women pay 15-20% less than men at any given age.
- 30-year premiums are slightly higher than 20-year premiums at most ages. However, the rate gap between the two terms narrows at older ages.
$25,000 Term Life Insurance Rates for Women
| Age | 20 Years | 30 Years |
|---|---|---|
| 40 | $8 | $9 |
| 41 | $8 | $10 |
| 42 | $9 | $10 |
| 43 | $9 | $10 |
| 44 | $9 | $11 |
| 45 | $9 | $11 |
| 46 | $10 | $12 |
| 47 | $10 | $13 |
| 48 | $11 | $13 |
| 49 | $11 | $14 |
| 50 | $12 | $15 |
| 51 | $13 | $16 |
| 52 | $13 | $18 |
| 53 | $14 | $19 |
| 54 | $15 | $20 |
| 55 | $15 | $21 |
| 56 | $16 | N/A |
| 57 | $17 | N/A |
| 58 | $19 | N/A |
| 59 | $20 | N/A |
| 60 | $22 | N/A |
| 61 | $24 | N/A |
| 62 | $27 | N/A |
| 63 | $30 | N/A |
| 64 | $33 | N/A |
| 65 | $35 | N/A |
$25,000 Whole Life Insurance Premiums
The simplified issue whole life monthly premiums below cover males and females from 40 to 89. The guaranteed issue rates cover a smaller age range of 50 to 80. The rates for both simplified and guaranteed issue show the impact of age and gender on pricing.
Simplified Issue Whole Life
- Monthly premiums start low at age 40 at $44 for males and $41 for females, then gradually increase each year.
- Due to longer life expectancies, females have lower rates than males at every age. For instance, at age 60, the female rate is $76 compared to $89 for males.
| Age | Male | Female |
|---|---|---|
| 40 | $44 | $41 |
| 41 | $45 | $42 |
| 42 | $46 | $43 |
| 43 | $48 | $45 |
| 44 | $49 | $46 |
| 45 | $51 | $48 |
| 46 | $53 | $49 |
| 47 | $54 | $50 |
| 48 | $56 | $52 |
| 49 | $58 | $54 |
| 50 | $60 | $55 |
| 51 | $62 | $57 |
| 52 | $65 | $59 |
| 53 | $67 | $60 |
| 54 | $70 | $62 |
| 55 | $72 | $64 |
| 56 | $75 | $66 |
| 57 | $78 | $69 |
| 58 | $82 | $71 |
| 59 | $85 | $74 |
| 60 | $89 | $76 |
| 61 | $93 | $80 |
| 62 | $97 | $84 |
| 63 | $102 | $88 |
| 64 | $107 | $92 |
| 65 | $112 | $97 |
| 66 | $117 | $103 |
| 67 | $123 | $108 |
| 68 | $129 | $113 |
| 69 | $135 | $118 |
| 70 | $142 | $123 |
| 71 | $150 | $130 |
| 72 | $159 | $137 |
| 73 | $169 | $145 |
| 74 | $178 | $153 |
| 75 | $238 | $172 |
| 76 | $257 | $189 |
| 77 | $275 | $201 |
| 78 | $294 | $214 |
| 79 | $312 | $226 |
| 80 | $330 | $239 |
| 81 | $357 | $256 |
| 82 | $384 | $273 |
| 83 | $410 | $290 |
| 84 | $437 | $307 |
| 85 | $464 | $324 |
| 86 | $560 | $406 |
| 87 | $655 | $487 |
| 88 | $751 | $569 |
| 89 | $847 | $651 |
Guaranteed Acceptance Whole Life
- The premiums start higher than simplified issue policies since approval is guaranteed even if you have serious health issues. For example, at age 60, the guaranteed issue rate for males is $158, much higher than the $89 simplified issue rate for males.
- As with simplified issue, females have lower rates than males across all age brackets shown for guaranteed issue. However, the gender gap is narrower for guaranteed issue, with female rates averaging 5-10% lower than males before age 75.
| Age | Male | Female |
|---|---|---|
| 46 | $49 | $62 |
| 47 | $50 | $64 |
| 48 | $52 | $66 |
| 49 | $54 | $68 |
| 50 | $109 | $85 |
| 51 | $117 | $91 |
| 52 | $125 | $96 |
| 53 | $132 | $101 |
| 54 | $138 | $105 |
| 55 | $143 | $109 |
| 56 | $148 | $114 |
| 57 | $151 | $117 |
| 58 | $154 | $120 |
| 59 | $157 | $124 |
| 60 | $158 | $126 |
| 61 | $170 | $134 |
| 62 | $181 | $141 |
| 63 | $192 | $147 |
| 64 | $202 | $151 |
| 65 | $211 | $155 |
| 66 | $220 | $163 |
| 67 | $228 | $170 |
| 68 | $235 | $176 |
| 69 | $241 | $182 |
| 70 | $246 | $187 |
| 71 | $269 | $206 |
| 72 | $291 | $223 |
| 73 | $312 | $240 |
| 74 | $331 | $255 |
| 75 | $347 | $269 |
| 76 | $406 | $308 |
| 77 | $462 | $345 |
| 78 | $516 | $379 |
| 79 | $567 | $411 |
| 80 | $617 | $439 |
Check Out: Can You Get $5,000 of Life Insurance?
Check Out: Analyzing Mutual of Omaha’s Insurance Premiums
Choose kindness.
You never know what battles people may be fighting.
Choosing the Best Life Insurance Company
Here are the most important factors to consider when choosing a top insurer for your $25,000 life insurance policy:
- Financial strength – Insurer’s ability to pay out future claims. Look for companies rated “A” or higher by rating agencies like A.M. Best.
- Reputation – Reviews from independent rating firms like J.D. Power demonstrating positive customer satisfaction.
- Experience – Number of years in business and total policies in force showing stability.
- Coverage options – Various policy types, term lengths, and riders are offered to meet different needs.
- Customer service – Responsiveness to questions and efficiency of claims payments.
It’s wise to compare quotes from 3-5 reputable national companies rated highly for financial strength and customer satisfaction. This ensures you find the best value, given your situation.
3 Highly Rated Life Insurance Companies for A $25,000 Whole Life Insurance Policy
Based on the criteria above, here are some of the most popular whole life insurers to consider for $25,000 of permanent life insurance coverage.
Aetna Final Expense Insurance
The Aetna Final Expense policy from Continental Life is a whole life insurance plan to cover end-of-life costs.
Policy Highlights
- No medical exam is required for approval
- Level premiums that never increase with age if payments are made on time
- Face amounts ranging from $2,000 to $50,000 depending on your age so that you can customize coverage
- Builds cash value that can be borrowed against in the future
- Riders like accelerated death benefit available for added flexibility
Company Strengths
- Backed by Aetna, a leading insurance company in business for over 150 years
- Focus on providing excellent service and promptly paying claims
- Aims to deliver affordable and adaptable final expense protection
Overall, the Aetna Final Expense whole life policy provides permanent coverage with flexible options to help pre-fund final arrangements and protect loved ones financially.
Transamerica Final Expense Insurance
This whole life insurance policy from Transamerica Life Insurance Company provides a death benefit to cover funeral costs and other final expenses.
Policy Features
- No medical exam is required for fast approval
- Automated underwriting for quick decisions
- Available coverage amount from $1,000 to $50,000
- Guaranteed death benefit; cash value accumulation
- Accelerated payout option if terminally or chronically ill
Company Profile
- Over 100 years of industry experience and strong global backing
- A wide range of insurance and retirement products are offered
- Highly rated for financial strength and performance
Mutual of Omaha Living Promise
Mutual of Omaha’s Living Promise whole life insurance policy delivers customizable lifetime protection for final expenses.
Policy Features
- Coverage amount ranges from $2,000 to $50,000
- No medical exam, just health questions
- Premiums remain fixed; benefits don’t decrease
- Cash value accumulation and policy loans
- Accelerated payout if terminally or chronically ill
Company Highlights
- Part of a leading Fortune 500 mutual company
- Trusted reputation and financial strength
- Over 100 years of insurance experience
How Do You Choose? Simplified Issue Final Expense Insurance vs. Guaranteed Acceptance
Should you choose a simplified or guaranteed issue policy when buying life insurance coverage up to $25,000?
Simplified Issue Life Insurance
With a simplified issue life insurance policy, approval is based on answering just a few overall health questions. No medical examination or laboratory tests are required. This streamlined underwriting can deliver coverage in as little as 1 business day.
Pros
- Fast approval process without medical exams
- Up to $50,000 of coverage is available
- Ideal for smaller amounts of protection
- Qualify with some health conditions
Cons
- Higher rates than underwritten policies
- Lower coverage maximums
- Not available for applicants with major health issues
Guaranteed Issue Life Insurance
With guaranteed issue life insurance, approval is guaranteed, and no health questions, medical records, or exams are required. This is a great option for high-risk applicants who want a permanent life plan.
Pros
- Guaranteed approval regardless of health
- Covers older ages and severe medical conditions
- Only basic information like age is needed
- Immediate coverage available
Cons
- Higher premium costs
- Typically, only up to $25,000 in coverage
- Two-year waiting period for full benefit payout
For those with minor health conditions, simplified issue permanent life insurance policies provide affordable coverage with minimal underwriting. For high-risk health conditions, guaranteed issue ensures approvals but costs more.
Choose kindness.
You never know what battles people may be fighting.
4 Strategies to Lock In Affordable $25,000 Life Insurance Rates
Here are some tips to save money on your $25,000 life insurance policy:
- Buy early when rates are lowest rather than waiting until later in life
- Use GetSure’s online price quoter to compare quotes from 18 top insurers to find the best deal
- Improve health by exercising, eating well, and quitting smoking to qualify for preferred rates
- Maintain coverage once purchased – don’t cancel a policy; try to replace it later at an older age
GetSure is here to help you secure the most cost-effective life insurance protection both now and in the future. We work with 18 excellent carriers to get the best price based on your needs.
Next Steps to Buying $25,000 Life Insurance
Here is a summary of the next steps to take when purchasing a $25,000 life insurance policy:
- When determining the ideal policy type (term insurance or permanent life insurance policy), consider your loved ones’ future financial needs.
- Use GetSure’s online quote tool to compare rates from 18 top insurers based on how much coverage you need.
- Complete the insurer’s application paperwork and underwriting requirements.
- Make your first premium payment to put coverage into effect.
- Designate beneficiaries and store your policy documents in a safe place.
Purchasing an individual life insurance policy is simple if you know what to look for. Working with a GetSure licensed life insurance agent simplifies the process and helps you secure coverage based on your health status.
A $25,000 policy can provide valuable protection – don’t delay securing this affordable coverage that your loved ones can depend on.
