Can I Buy a $5,000 Life Insurance Policy?

Are there life insurance carriers that offer $5,000 of life insurance coverage?

Yes, although most life insurance plans start at $50,000 of coverage for term life insurance, there are whole life insurance policies offering from $3,000 or more of coverage.

These smaller life insurance policies are usually purchased to provide funds to pay for someone's final expenses, including the cost of a funeral and burial.

Keep in mind, the average cost of a funeral, burial and related expenses is around $7,700.

You may be able to buy $5,000 of life insurance with guaranteed approval from one (or more) of several insurance companies, including United of Omaha, Gerber, Colonial Penn, or MetLife, among others.

Guaranteed approval means there is no exam required and you won't have to answer any questions about your health. And, you cannot be turned down due to any pre-existing health condition.

As long as you meet the age requirements for acceptance, you are guaranteed approval for a policy.

Learn more about how to get a $5,000 life insurance policy.