Best $10,000 Life Insurance Policy for Seniors

best $10,000 life insurance policy

Many people wonder how to be sure they are getting the best $10,000 life insurance policy when they are making decisions about planning for the future.  The first thing to look at is who needs a $10,000 life insurance policy. Life insurance needs vary by ages and stages of life. Here is a look at the common life insurance needs over a lifetime.


Birth-College Age-  


Wait a minute- why would my child need life insurance? Surprisingly, starting a children’s whole life insurance policy for $10,000 is a wise decision made by many parents.  No one wants to think that something could happen to their child, but having burial expenses paid for is not one of the main reasons to get a child’s policy.  The reason many families opt to start a kids life insurance policy is because the rates are extremely low. A little known fact is that many children’s policies offer a chance to increase the death benefit by more than double without the premium being raised when the child is in their early 20’s.

That means the policy will benefit the child by far more than the premiums paid and parents and kids alike will be protected against the unexpected funeral costs if an unexpected death occurs. Assurance Life is a broker who works with numerous companies so we can find the one that is best for your family’s insurance needs from birth to retirement. FREE QUOTES are available for children’s policies all the way through burial insurance for seniors over 80.

College-early Married Years-

Most young adults from their single through early married life do not give any thought to securing life insurance. These feel like the invincible years where thinking ahead to the fact that we all die just isn’t something that is being planned for.  However, this time in life is really one of the most important age groups to be covered against the unexpected final expenses if something were to happen.

Benefits of finding the best $10,000 life insurance policy as a young adult include low monthly premium, establishing a pattern of responsibility at a young age, and protecting family members against the financial burden of funeral cost at a time that would already be unbearable.

Married with Kids at Home-

young couple

This age span is one of the few times in life when $10,000 of burial insurance may not be enough to take care of family members left behind.  Couples with children at home not only have their spouse to consider but also providing for their children as well. Ideally, all final expenses including funeral cost, debts owed, and any monies desired to be left to family would be calculated and a life insurance policy to cover all expenses would be secured for both parents.  

Unfortunately, not everyone is in a financial position to have adequate life insurance for both parents. Sometimes those who are in this stage of life can still benefit from a $10,000 whole life insurance policy because if death occurs, the family will at least have enough for burial expenses.

Empty Nesters-

Once the kids move out, go to college, get married, and have their own adult lives flourishing, couples can reexamine their life insurance needs.  Often, a large, term-life policy has been in place for couples early in their marriage and these term-life policies are set to expire shortly after the kids have graduated.  This leaves empty nesters with no life insurance coverage. It is important to set up the proper replacement policies so that one spouse isn’t left financially burdened due to an unexpected accident or health crisis.

In many cases, empty nesters have small life insurance benefits through their work place and securing a $10,000 funeral insurance policy is a nice compliment to the smaller employer paid policy which can offset debts and leave a little money to family members. The best type of policy to get at this stage of life is a whole life insurance policy.  In contrast to the term-life policy which expires after a set number of years, a whole life insurance policy NEVER EXPIRES, meaning it is going to protect you for the rest of your life, as long as monthly payments are made. A whole life policy cannot be cancelled due to age or health and once it is started, the payments are guaranteed to stay the same and cannot be raised.

Retirement and Senior Years-

Much like empty nesters, those in their retirement and senior years do not need quite as much funeral insurance.  For some, when they retire, any life insurance benefits provided by employers are no longer active. This means family members may not have the money needed to pay burial costs and other final expenses.  Finding the best $10,000 life insurance policy at this age is made easy through Assurance Life.

We are able to provide FREE QUOTES and the application process is simple and easy. There are NO MEDICAL EXAMS NEEDED and we are able to compare many companies and find the one that fits your needs.  Assurance Life will find you the most coverage at the lowest premiums so your family can have peace of mind with life insurance in your twilight years.