Open Care Senior Plan Review
Open Care has generated significant attention with its advertising for the Open Care Senior Plans, highlighting the cost-effectiveness of the plan. In this review, we will explore how the senior plan operates and whether it is a viable option for you.
Open Care Seniors is not an insurance company, but rather a licensed independent insurance brokerage located in Naples, Florida. They represent various funeral insurance companies and offer final expense life insurance as their primary product, alongside term life, accidental death insurance, and other healthcare products.
Is the Open Care Senior Plan Worth Buying?
While the Open Care Senior plan is not a scam, it is important to note that the advertised cost of $7.49 monthly may not be accurate. Similar to other insurance policies, factors such as age, health, gender, and desired coverage will influence the price. It is advisable to compare offerings from different insurance companies to ensure transparency in pricing.
Open Care Seniors: How It Works
Open Care Seniors provides three main types of life insurance products: Term Life Insurance, Final Expense Insurance, and Guaranteed Issue Life Insurance. The plans are available to individuals aged 18 to 85, without the need for a medical exam to qualify. Pricing and coverage options vary based on age, gender, and location.
Open Care Term Life Insurance
The term life insurance offered by Open Care features budget-friendly and flexible terms, affordable premium payments, and does not require a medical examination. Coverage options range from $25,000 to $500,000 for individuals aged 18 to 75. Beneficiaries receive a death benefit if the policyholder passes away during the policy term.
How Much Do Open Care Life Insurance Plans Cost?
The cost of Open Care life insurance plans depends on factors such as age, health, smoking status, and coverage amount. For example, $8,000 in coverage may cost between $17 and $252 per month, while final expense coverage typically ranges from $50 to $100 monthly for a $10,000 whole life policy.
For detailed pricing information based on age and smoking status, refer to the table below:
| Age | Female Non Smoker | Male Non Smoker | Female Smoker | Male Smoker |
|---|---|---|---|---|
| 40 | $17 | $19 | $21 | $24 |
| 50 | $21 | $25 | $27 | $33 |
| 60 | $29 | $36 | $39 | $51 |
| 70 | $42 | $60 | $59 | $94 |
| 80 | $84 | $110 | $102 | $167 |
| 90 | $205 | $242 | $229 | $252 |
Open Care Seniors: Before You Buy
While Open Care Seniors simplifies the process of obtaining life insurance, there is a lack of clarity regarding the insurance companies they represent and the states in which they operate. Despite positive reviews, their advertising practices have been criticized.
Before purchasing an Open Care Senior plan, it is advisable to thoroughly review policy details, including any exclusions or riders. Conduct research, read customer feedback, and compare offerings from multiple providers to ensure you make an informed decision.
For additional information on life insurance and providers, consider exploring our other articles on the subject. Remember to assess your individual needs and preferences when selecting a life insurance provider.
