Insurance Using the online quote tool provided by Choice Mutuals, we discovered that for a 68-year-old man living in California, a $25,000 final expense insurance policy with health questions and immediate coverage could cost between $156 and $180 per month.
On the other hand, a policy without health questionsa guaranteed issue policy with a waiting periodcould cost between $234 and $345 per month.
Let’s say a man has congestive heart failure and is only eligible for a two-year waiting period guaranteed issue policy.
Assuming he purchases the most costly arrangement with the $345 month to month exceptional, following two years he will have paid $8,280 in charges.
If he passes away between the first day of year three, when the waiting period ends, and the end of year six, when the premiums paid will be roughly equivalent to the death benefit, his beneficiaries will win.
