I've seen it stated many times by those apparently expert, certainly more so than I, that with electric heaters, the tank can last waaaaay longer than the electricals.
Ask around locally as to how long heaters normally last with your water chemistry. Ask the plumber how the tank innards looked when he pulled the element.
What I'd do:
1) get a replacement anode rod, pull the existing one, and replace.
2) ditto with heating elements and t-stat. You may need wrench to fit element. And proper sealant. Lotsa supply houses all over.
Sediment cleaning is good, too.
That might buy you 10 years more. If you want better insulation, have no problem financing it now, and have suspicions about heater from above, go for a new one. And ... much better yet: gas. Price/BTU typically 1/4 of electrical power.
HTH, J