If you are searching for the top burial insurance companies, you will want to read this.
Finding the right burial insurance policy can provide financial security and peace of mind for you and your loved ones. In this comprehensive guide, we’ll compare the top 10 burial insurance companies and their rates to help you make an informed decision.
Table of Contents
- What is Burial Insurance
- Cost
- Top 10 Companies and Rates
- Choosing the Best Policy
- FAQs
- Conclusion
What is Burial Insurance, and Why Do You Need It?
Burial insurance, also known as final expense or funeral insurance, is a type of life insurance designed to cover end-of-life expenses, such as funeral costs, medical bills, and other outstanding debts.
These policies offer a financial safety net for your loved ones, ensuring they aren’t burdened with unexpected costs during an already challenging time.
Benefits of Burial Insurance
- Guaranteed acceptance with no medical exam required
- Affordable premiums that don’t increase over time
- Tax-free death benefit for beneficiaries
- Flexible coverage options to meet your specific needs
- Provides financial security and peace of mind
How Much DoesBurialInsurance Cost
Final expense insurance is an important purchase for any senior consumer. The cost will vary depending on your age, and gender. In addition, permanent life insurance companies all have different prices.
In addition, health history but it can run as low as $20-$30 per month with some companies offering $10,000 in coverage to upwards of $200+ if you are older and have some serious health issues.
Here are some examples of the best funeral insurance prices:
Final Expense Rates For Females
| Age | Female $10,000 Immeditate | Female $10,000 2yr Waiting Period |
|---|---|---|
| 45 | $16.64 | $46.25 |
| 50 | $20.26 | $34.47 |
| 55 | $25.08 | $44.27 |
| 60 | $32.08 | $51.06 |
| 65 | $41.00 | $62.61 |
| 70 | $51.92 | $75.53 |
| 75 | $71.64 | $108.17 |
| 80 | $97.50 | $176.37 |
| 85 | $131.66 | $197.76 |
| 89 | $262.32 | $303.99 |
| 90 | N/A | $337.32 |
Final Expense Rates For Males
| Age | Male $10,000 Immeditate | Male $10,000 2yr Waiting Period |
|---|---|---|
| 45 | $23.18 | $55.42 |
| 50 | $27.35 | $44.09 |
| 55 | $32.77 | $57.93 |
| 60 | $41.74 | $63.89 |
| 65 | $52.87 | $85.16 |
| 70 | $69.23 | $99.18 |
| 75 | $96.58 | $139.52 |
| 80 | $134.16 | $206.32 |
| 85 | $183.29 | $213.86 |
| 89 | $340.82 | $378.98 |
| 90 | N/A | $387.32 |
Comparison of Top 8 Burial Insurance Companies & Rates
In this section, we’ll provide an overview of the top 8 burial insurance companies, their rates, and plan details to help you find the best policy for your needs.
Mutual of Omaha
Company Founded:1909
A.M. Best Rating:A+ (Superior)
BBB Rating:A+
Product Name:Living Promise level benefit
Policy Type:SimplifiedWhole Life Insurance Policy
2-year Waiting Period:No
Two YearContestability:Yes, Misrepresentation of Health or Suicide
Cash Value:Yes
Available Coverage Amount:$2,000-$40,000
Applicant Age Range To Apply: 45-85
Can I Purchase a Policy For Parents:Yes
Approval Time:10-15 minutes to a few days
Health Impairment Niche:|Type 2 diabetes|Seniors over 80| Arthritis|Sleep apnea|Smokers|
With an A+ rating from AM Best and consistently low premiums, Mutual of Omaha is one of the best companies for life insurance in America.
Mutual of Omaha offersthe most accessible and affordable burial policies to most applicants at competitive rates.
They boast that their living promise product will cover your funeral expenses if you need it with no surprises upfront or hidden costs – all at very competitive rates!
This is our premier carrier and one of the best final expense life insurance companies that we offer.
Here are some of Mutual of Omaha’s Sample Rates by age and gender for their Living Promise product.
Mutual of Omaha Rates For Females
| Age of Insured | Female $10,000 | Female $15,000 |
|---|---|---|
| 45 | $22.61 | $32.31 |
| 50 | $24.31 | $34.86 |
| 55 | $27.71 | $39.96 |
| 60 | $32.87 | $47.70 |
| 65 | $41.01 | $59.91 |
| 70 | $53.24 | $78.26 |
| 75 | $72.41 | $107.01 |
| 80 | $98.43 | $146.05 |
| 85 | $135.90 | $202.25 |
Mutual of Omaha Rates For Males
| Age of Insured | Male $10,000 | Male $15,000 |
|---|---|---|
| 45 | $27.11 | $39.06 |
| 50 | $30.68 | $44.42 |
| 55 | $35.95 | $52.32 |
| 60 | $43.76 | $64.04 |
| 65 | $56.48 | $83.12 |
| 70 | $74.61 | $110.31 |
| 75 | $99.97 | $148.36 |
| 80 | $139.73 | $207.99 |
| 85 | $192.74 | $287.51 |
The lifetime of your policy is not over just because you turn 85. Your coverage lasts until death.
AETNA/CVS Health
Company Founded:1853
A.M. Best rating:A (Excellent)
BBB Rating:A+
Product Name:Accendo Preferred/Standard
Policy Type:SimplifiedWhole Life Insurance Policy
2-year Waiting Period:No
Two YearContestability:Yes, Misrepresentation of Health or Suicide
Cash Value Accumulation:Yes
Available Coverage Amount :$2,000-$50,000 Applicant Age Range To Apply :40-89
Can I Purchase a Policy For Parents:Yes
Approval Time:10-15 minutes to a Few Days
Health Impairment Niche:|Obesity| Over 85|COPD|Lupus|Pacemaker/Defibrillator | Heart Attack over 1 Year | MS | Parkinson’s | Stroke over 1 Year |
Aetna is a company that has been in business since 1853. They currently have an A rating with AMBest, and their senior final expense life insurance offers competitive rates for those who are over 85 years old- even if they suffer from high-risk health conditions!
Here are some of AETNA/CVS Health Sample Rates by age and gender up to age 89. This is one of very few burial insurance companies that are off to this age.
| Age of Insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 45 | $25.55 | $29.92 | $36.57 | $43.14 |
| 50 | $27.30 | $34.39 | $39.20 | $49.83 |
| 55 | $34.39 | $44.10 | $49.83 | $64.40 |
| 60 | $40.51 | $51.10 | $59.02 | $74.90 |
| 65 | $47.60 | $58.19 | $69.65 | $85.53 |
| 70 | $58.19 | $73.15 | $85.53 | $107.97 |
| 75 | $75.86 | $101.41 | $112.04 | $150.37 |
| 80 | $101.41 | $140.26 | $150.37 | $208.64 |
| 85 | $136.67 | $195.82 | $203.26 | $291.99 |
| 86 | $171.32 | $236.25 | $255.24 | $352.62 |
| 87 | $205.97 | $276.67 | $307.21 | $413.26 |
| 88 | $240.62 | $317.10 | $359.19 | $473.90 |
| 89 | $275.27 | $357.52 | $411.16 | $534.54 |
You know that feeling when you turn 89 and it’s like your whole life flashes before? The policy doesn’t end once we reach this year, but rather lasts forever for every applicant.
In fact-89 is just the maximum age requirement to apply!
Royal Neighbors of America
Company Founded:1895
A.M. Best Rating:A (excellent)
BBB Rating:A+
Product Name:Simplified Issue whole life Level
Policy Type:SimplifiedWhole Life Insurance Policy
2-year Waiting Period:No
Two YearContestability:Yes, Misrepresentation of Health or Suicide
Cash Value Accumulation:Yes
Available Coverage Amount:$7,000-$30,000
Applicant Age Range To Apply:50-80
Can I Purchase a Policy For Parents:Yes
Approval Time:10-15 minutes
Health Impairment Niche:|diabetic neuropathy|blood thinners|severely overweight|TIA mini-strokes|blood clots|tumors|home health care|retinopathy|multiple instances of cancer|irregularheartbeat |blindness|
Royal Neighbors is a company you can trust. They have been in business since 1895 and maintain an A rating with A.M Best.
In addition, the first life insurance company to provide coverage for women and children back then!
Not only that but their final expense policies are some of the best, and they have lenient underwriting too! Above all, Royal Neighbors are great for diabetes.
Royal Neighbors is one of the very best value when it comes to final expense insurance companies!
Its policies never expire and its premiums stay at a low cost, so you can be sure your family is getting all it deserves without having any worries.
Here are some sample rates based on age and gender.
| Age of Insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 50 | $33.71 | $39.61 | $49.26 | $58.11 |
| 55 | $37.51 | $46.31 | $54.96 | $68.16 |
| 60 | $38.21 | $50.11 | $56.01 | $73.86 |
| 65 | $44.61 | $58.81 | $65.61 | $86.91 |
| 70 | $55.61 | $74.81 | $82.11 | $110.91 |
| 75 | $79.81 | $110.41 | $118.41 | $164.31 |
| 80 | $110.41 | $153.81 | $164.31 | $229.41 |
Yes, the policy does not end once you turn 80. Once issued it lasts forever!
The maximum age for new applicants is 80!
Trinity Life/Family Benefit Life
Company Founded:2007
A.M. Best Rating:A (excellent)
BBB Rating:A+
Product Name:Golden Eagle Final Expense Plan
Policy Type:SimplifiedWhole Life Insurance Policy
2-year Waiting Period:No
Two YearContestability:Yes, Misrepresentation of Health or Suicide
Cash Value Accumulation:Yes
Available Coverage Amount:$2,500-$ 25,000
Applicant Age Range To Apply:50-85
Can I Purchase a Policy For Parents:Yes
Approval Time:10-15 minutes to a few days
Health Impairment Niche:|Heart Attack|Stroke|Heart Surgery|Circulatory Surgery|Home Health Care|AFIB|Type 2 Diabetes|Multiple Sclerosis|Seizures |
Trinity Life/Family benefit offers competitor rates in their market for non-smokers.
The premiums are also very competitive, with policies available to smokers as well!
The underwriting is liberal and simple! In fact, you won’t need extensive paperwork or long phone calls when applying. Overall, it’s just a single online form that will do it all.
They have good financial standing so if anything happens to you (and they’re reliable!), full death benefit can be confidently paid out without question or hesitation.
| Age of Insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 50 | $21.78 | $27.35 | $31.37 | $39.73 |
| 55 | $26.26 | $32.77 | $38.09 | $47.87 |
| 60 | $32.60 | $41.74 | $47.61 | $61.31 |
| 65 | $41.28 | $53.75 | $60.63 | $79.34 |
| 70 | $52.03 | $69.23 | $76.76 | $102.55 |
| 75 | $71.64 | $96.58 | $106.17 | $143.58 |
| 80 | $104.83 | $145.79 | $155.96 | $217.39 |
| 85 | $155.23 | $192.49 | $231.55 | $287.45 |
It’s true that the Trinity Life/Family benefit policy doesn’t end once you turn 85. But it lasts forever for those who are already enrolled!
In fact, Trinity is one of the very few final expense insurance companies that are lenient with furosemide/coreg combination.
This means, of course, they accept new applicants up to age 85 years old.
Liberty Bankers Life
Company Founded:1958
A.M. Best rating:A- (excellent)
BBB Rating:A+
Product Name:SIMPL Preferred | Standard
Policy Type:SimplifiedWhole Life Insurance
2-year Waiting Period:No
Two YearContestability:Misrepresentation of Health or Suicide
Cash Value Accumulation:Yes
Coverage Amount Range: $3,000-$40,000
Applicant Age Range To Apply: 18-80
Can I Purchase a Policy For Parents:Yes
Approval Time:10-15 minutes
Health Impairment Niche:| COPD | Emphysema|Chronic Bronchitis|Bipolar|Schizophrenia|Depression | PTSD | Hepatitis | Kidney Disease | PVD/PAD | AFIB |
Liberty Bankers Life Insurance Company has a unique coverage plan for those suffering from COPD. They offer immediate protection, and their rates are among the best available! Their premiums never change and they can’t expire. Accelerated Death benefit riders such as children’s benefits rider, grandparents rider, accidental death rider,s, and dismemberment rider can all be included.
Here are some sample rates based on age and gender.
| Age of insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 18 | $12.03 | $15.84 | $15.73 | $21.44 |
| 20 | $14.71 | $16.04 | $19.75 | $21.75 |
| 25 | $15.16 | $17.04 | $20.43 | $23.25 |
| 30 | $15.73 | $18.64 | $21.28 | $25.65 |
| 35 | $17.45 | $20.93 | $23.86 | $29.09 |
| 40 | $20.05 | $24.34 | $27.77 | $34.19 |
| 45 | $23.13 | $27.44 | $32.38 | $38.84 |
| 50 | $25.57 | $30.51 | $36.04 | $43.45 |
| 55 | $30.40 | $36.79 | $43.28 | $52.87 |
| 60 | $34.67 | $45.80 | $49.69 | $66.38 |
| 65 | $42.81 | $55.94 | $61.90 | $81.60 |
| 70 | $54.79 | $73.31 | $79.87 | $107.65 |
| 75 | $76.20 | $100.15 | $111.99 | $147.91 |
| 80 | $109.16 | $146.80 | $161.43 | $217.88 |
The policy does not end once you turn 80. In addition, you can purchase this policy up to age 80!
American Amicable
Company Founded:1910
A.M. Best rating:A (excellent)
BBB Rating:A
Product Name:Senior Choice
Policy Type:SimplifiedWhole Life Insurance Policy
2-year Waiting Period:No
Two-YearContestability:Misrepresentation of Health or Suicide
Cash Value Accumulation:Yes
Coverage Amount Range: $2,500-$35,000
Applicant Age Range To Apply: 50-85
Can I Purchase a Policy For Parents:Yes
Approval Time:10-15 minutes
Health Impairment Niche:| All Smokers|AFIB |Schizophrenia|Bipolar Disorder|Depression|Blood Thinners|Not Confined To Wheelchair
American Amicable has always been an A-rated company with AM Best.
They offer final expense insurance that’s quick and easy to purchase insurance for seniors who may have common health problems like smoking cigarettes or having high blood pressure, which can lead to strokes over time if left untreated in some cases.
If you choose not to smoke any type of tobacco product at all then American amicable will give discounts from other companies too!
But wait there’s more: they also provide rates just for occasion cigar/pipe smokers; no matter how often it happens, every applicant deserves great protection – even non-cigarette tobacco users!
American Amicable’s policies never expire and prices stay the same, so you can be confident in your coverage.
Here are some sample rates based on age and gender.
| Age of Insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 50 | $26.66 | $31.64 | $38.68 | $46.15 |
| 55 | $33.69 | $40.03 | $49.21 | $58.73 |
| 60 | $38.26 | $47.05 | $56.07 | $69.26 |
| 65 | $47.05 | $59.74 | $69.26 | $88.29 |
| 70 | $60.38 | $78.79 | $89.25 | $116.86 |
| 75 | $81.73 | $108.01 | $121.27 | $160.70 |
| 80 | $113.68 | $155.82 | $169.20 | $232.41 |
| 85 | $166.02 | $221.31 | $247.71 | $330.65 |
There is no turning back once you turn 85. You can still continue to apply for a policy up to age 85.
Guarantee Trust Life (GTL)
Company Founded:1936
A.M. Best Rating:A- (Excellent)
BBB Rating:A+
Product Name:Heritage Plan
Policy Type:SimplifiedWhole Life Insurance Policies
2-year Waiting Period:Yes, Graded Policy, Year One 105% ROP, Year Two 50% of the death benefit, Year Three 100% payout
Two YearContestability:No
Cash Value Accumulation:Yes
Available Coverage Amount:$2,500-$20,000 Age 40-85, $2,500-$10,000 Age 86-90
Can I Purchase a Policy For Parents:Yes
Approval Time:Few days
Health Impairment Niche:| Oxygen Use (Not Continous) | Age 90 Coverage |
Guaranteed Trust Life Final Expense is an excellent option for those looking to purchase funeral planning insurance products. This policy offers benefits in all states except NY, CA, and MT.
Furthermore, it still provides a 24-48 hour turnaround on application processing with a phone call!
For individuals seeking the Heritage Plan graded plan.
Overall, GTL’s Graded Whole Life Insurance Plan gives you graded death benefit coverage as well as A+ Award Winning Customer Service.
Here are some rate samples for ages 40-90 and both genders.
| Age of insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 40 | $37.33 | $49.83 | $54.00 | $72.75 |
| 45 | $37.33 | $54.00 | $54.00 | $79.00 |
| 50 | $38.17 | $54.83 | $55.25 | $80.25 |
| 55 | $46.50 | $59.83 | $67.75 | $87.75 |
| 60 | $54.00 | $69.00 | $79.00 | $101.50 |
| 65 | $64.83 | $87.33 | $95.25 | $128.99 |
| 70 | $79.00 | $104.00 | $116.50 | $153.99 |
| 75 | $114.00 | $147.33 | $168.99 | $218.99 |
| 80 | $178.99 | $245.66 | $266.49 | $366.49 |
| 85 | $220.66 | $316.49 | $328.99 | $472.73 |
| 90 | $337.32 | $387.32 | N/A | N/A |
Guarantee Trust Life is a financially stable company that you can trust.
When it comes to life insurance, this organization offers its customers the best of everything: excellent ratings by A.M Best and guaranteed acceptance protection for all aspects underwriters must address!
With policies available between 40-90 years old with no prerequisites whatsoever other than being 40+ years old upon application date.
AIG (American General)
Company Founded:1919
A.M. Best Rating:A (Excellent)
BBB Rating:A+
Product Name:Guaranteed Issue Whole Life policy
Policy Type:SimplifiedWhole Life Insurance Policies
2-year Waiting Period:Yes, Graded 2yr at 110% ROP
Two YearContestability:Suicide
Cash Value:Yes
Available Coverage Amount :$5,000-$25,000
Applicant Age Range:50-80
Can I Purchase a Policy For Parents:Yes
Approval Time:10-15 minutes to a Few Days
Health Impairment Niche:ANY HEALTH IMPAIRMENT
AIG is a long-standing life insurance company that has been in business since 1919.
They offer guaranteed issue policies with no exam or health questions or medical assessments.
In fact, meaning your acceptance of this kind of policy will be guaranteed life insurance and there’s an immediate 24-month waiting period before they payout.
However, if something happens during those two years while you’re under consideration for purchase; not to mention AIG refunds 110% on premiums paid!
Here are some sample rates by age and gender.
| Age of Insured | Female $10,000 | Male $10,000 | Female $15,000 | Male $15,000 |
|---|---|---|---|---|
| 50 | $38.58 | $55.99 | $56.87 | $82.98 |
| 55 | $46.60 | $61.37 | $68.89 | $91.06 |
| 60 | $53.93 | $68.14 | $79.90 | $101.21 |
| 65 | $66.42 | $90.83 | $98.63 | $135.25 |
| 70 | $80.41 | $106.00 | $119.62 | $158.00 |
| 75 | $115.73 | $149.66 | $172.59 | $223.49 |
| 80 | $189.53 | $206.32 | $283.30 | $308.48 |
The policy doesn’t end once you turn 80. It lasts forever since it was issued! That means that the maximum age of an applicant is still 80.
How to Choose the Best Burial Insurance Policy
When selecting a burial insurance policy, consider the following factors:
- Premium affordability: Choose a plan with premiums that fit your budget.
- Coverage amount: Ensure the policy provides enough coverage to meet your end-of-life expenses.
- Company reputation: Research the company’s financial stability, customer service, and claims history.
- Policy features: Look for additional features or riders that may be important to you, such as accelerated death benefits or waiver of premium options.
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FAQs
Q: What’s the difference between burial insurance and traditional life insurance?
A: While both types of policies provide financial protection, burial insurance specifically covers end-of-life expenses and typically offers lower coverage amounts with more affordable premiums. Traditional life insurance policies, such as term or whole life, provide broader coverage and can be used for various financial needs, such as income replacement or wealth accumulation.
Q: How much burial insurance coverage do I need?
A: The amount of coverage you need depends on your anticipated end-of-life expenses, including funeral costs, medical bills, and any outstanding debts. It’s essential to calculate these costs and choose a policy that provides sufficient coverage.
Q: Can I purchase burial insurance for my parents or other family members?
A: Yes, you can purchase burial insurance for your parents or other loved ones, provided you have an insurable interest in their life and obtain their consent.
Q: Is the death benefit from a burial insurance policy taxable?
A: Generally, the death benefit from a burial insurance policy is not taxable to the beneficiary. However, if the policy’s death benefit is paid to the deceased’s estate, it may be subject to estate taxes.
Q: Can I change the beneficiary of my burial insurance policy?
A: Yes, you can typically change the beneficiary of your burial insurance policy at any time, as long as you are the policy owner. To do this, you’ll need to contact your insurance company and complete the required paperwork.
Q: How long does it take for a burial insurance policy to pay out?
A: The payout time for a burial insurance policy depends on the insurance company and the specific circ*mstances surrounding the claim. In general, it can take anywhere from a few days to several weeks for the insurance company to process the claim and release the death benefit to the beneficiary.
Q: Are there any exclusions or waiting periods for burial insurance policies?
A: Some burial insurance policies may have a waiting period, typically 2-3 years, during which the full death benefit will not be paid if the insured passes away due to natural causes. However, if the insured dies during this waiting period, the beneficiary may receive a refund of the premiums paid plus interest. Furthermore, accidental deaths are usually covered from the first day of the policy. Therefore, it’s important to review your policy’s terms and conditions to understand any exclusions or waiting periods.
Q: Can I cancel my burial insurance policy if I change my mind?
A: Yes, you can generally cancel your burial insurance policy at any time. If you cancel during the policy’s “free look” period, usually 10-30 days after purchase, you may be entitled to a full refund of any premiums paid. If you cancel after this period, you may not receive a refund, depending on the policy’s terms.
Conclusion
Burial insurance is a valuable financial tool that can protect your loved ones from unexpected end-of-life expenses.
By comparing the top burial insurance companies and their rates, you can make an informed decision and choose the best policy for your needs.
Remember to consider factors such as premium affordability, coverage amount, company reputation, and policy features when selecting your burial insurance policy.
More Burial Insurance Resources
- Burial Insurance
- Burial Insurance By Age
- Burial Insurance By State
- Burial Insurance Carrier Reviews
- Burial Insurance Carriers To Avoid
- Burial Insurance For Seniors
- Burial Insurance With Pre Existing Conditions
- Funeral Resources
- Informational
