12 best burial and final expense insurance companies

A burial insurance plan is a small no-exam life insurance policy. It provides a quick cash payout to your beneficiary(s), so they have the necessary monies to pay for your funeral costs.

Considering the following:

• What is the fine print?
• Who are the best companies?
• How much will it cost?
• Can you get coverage without a 2-year waiting period?

In this article, we will give you detailed answers to those questions and much more.

Topics covered in this article

 

What is burial insurance, final expense insurance & funeral insurance?

Burial insurance, also known as “final expense insurance” or “funeral insurance,” is generally a small whole life insurance policy with affordable premiums designed to pay all final expenses. No exams are required, serious health issues will not prevent acceptance, and coverage typically ranges from $2,000-$40,000 with most companies.

A whole life final expense policy has very minimal fine print. Here are the most important details:

• Rates are locked in for life and cannot increase.
• Coverage is guaranteed never to decrease.
• Guaranteed never to expire or cancel.
• Builds cash value.
  

Once you pass away, the insurance company will merely pay out the death benefit in the form of a tax-free check payable directly to the beneficiary(s). If you prefer, you can name a funeral home as the beneficiary rather than a person.

There are no restrictions on how you spend the money. Be it funeral-related expenses or other costs such as debts or medical bills, you can spend the money on anything. Any leftover money will remain with your beneficiary(s), not the funeral home.

Be sure not to get confused. The terms “burial insurance,” “funeral insurance,” and “final expense insurance” all mean the same thing. Be very leery of any website that suggests these labels have different meanings.

 

How much does final expense insurance cost?

Most companies charge roughly $30-$100 per month for a $10,000 final expense policy.

The exact cost of final expense insurance will vary from person to person because your age, gender, health determine prices and how much coverage you purchase.

Below is a table showing some price estimates.

Age	Female $10,000 No Waiting Period	Female $10,000 Guaranteed Acceptance	Male $10,000 No Waiting Period	Male $10,000 Guaranteed Acceptance
45	$22	$28	$27	$33
50	$24	$30	$30	$36
55	$27	$38	$35	$45
60	$32	$42	$43	$55
65	$41	$51	$54	$66
70	$51	$69	$70	$89
75	$71	$98	$99	$121
80	$98	$140	$139	$166
85	$135	$170	$192	$230
89	$275	N/A	$358	N/A

 

Who are the best burial and final expense life insurance companies?

These funeral insurance companies have the best plans. They offer unmatched value via price and underwriting.

1. Mutual of Omaha
2. Aetna
3. Royal Neighbors of America
4. Foresters Financial
5. Transamerica
6. Prosperity Life
7. AIG
8. Americo
9. Liberty Bankers Life
10. Gerber Life
11. American Amicable
12. Baltimore Life

 

Top 12 best final expense & burial insurance companies in the USA

 

Below you will see a detailed breakdown of all the best final expense insurance companies. From prices to product brochures, we leave little to the imagination. The companies are listed in no particular order.

 

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1) Mutual of Omaha

• Company founding date: 1909
• A.M. Best rating: A+ (superior)
• Better Business Bureau rating: A+
• Product name: Living Promise level benefit
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except NY
• Coverage amount range: $2,000-$40,000
• New applicant age range: 45-85 (policy lasts forever once issued)
• Optional riders: accidental death (doubles the payout for accidental death)
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 61 days
• Sample policy: click here
• How to apply: Agencies licensed to sell Mutual of Omaha products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 10 minutes – 3 business days
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application Fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: seizure conditions | type 2 diabetes | life insurance for seniors over 80 | blood thinners | squamous cell skin cancer | sleep apnea | epilepsy | high blood pressure | cholesterol | arthritis | fibromyalgia | asthma | blood thinners | Crohn’s disease | depression/anxiety | diverticulitis | Graves’ disease | sleep apnea | smokers | tumors (noncancerous)

Mutual of Omaha is one of the largest, most financially secure life insurance companies in the USA. They boast an impressive A+ rating with A.M. Best.

They call their funeral expense policy “Living Promise.” All around, it’s the best plan on the market.

Their premiums are consistently among the lowest. In addition, they accept many common health issues, and most applicants can qualify for their immediate benefit plan. They also have the best life insurance for children.

To get even more details, here is a link to our Mutual of Omaha burial expense review.

Mutual of Omaha premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
45	$22.61	$27.11	$42.01	$51.01
50	$24.31	$30.68	$45.41	$58.15
55	$27.71	$35.95	$52.21	$68.69
60	$32.87	$43.76	$62.53	$84.32
65	$41.01	$56.48	$78.82	$109.75
70	$53.24	$74.61	$103.28	$146.01
75	$72.41	$99.97	$141.62	$196.74
80	$98.43	$139.73	$193.66	$276.26
85	$135.90	$192.74	$268.60	$382.27

The policy does not end once you turn 85.

It lasts forever once issued. 85 is just the maximum age for new applicants.

 

 

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2) Aetna

• Company founding date: 1853
• A.M. Best rating: A (excellent)
• Better Business Bureau rating: A+
• Product name: Final Expense level benefit
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except NY
• Coverage amount range: $2,000-$50,000 (varies by age)
• New applicant age range: 45-85 (policy lasts forever once issued)
• Optional riders: accidental death (doubles the payout for accidental death)
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 45 days
• Sample policy: click here
• How to apply: Agencies licensed to sell Aetna products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 10 minutes – 3 business days
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application Fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: afib | schizophrenia | Bipolar disorder | depression | epilepsy | seizures | severely overweight | sleep apnea | tumors | over 85 life insurance | arthritis | blood thinners | elevated cholesterol | COPD | Crohn’s disease | diabetes (type 1 or 2) | diverticulitis | fibromyalgia | Graves’ disease | heart attack > 1 Year Ago | HBP | lupus | multiple sclerosis | pacemaker | defibrillator | Parkinson’s disease | sarcoidosis | scleroderma | stroke > 1 year ago

Aetna is on this list for multiple reasons. First, they’ve been in business since 1853 and currently have an A rating with A.M. Best.

If you can believe it, they offer new coverage to seniors as old as 89. It’s incredibly uncommon for a life insurance company to issue a new life insurance policy to applicants over 85.

All around, their senior burial insurance has competitive rates and will approve applicants for a no waiting period policy despite high-risk health conditions.

To get even more details, here is a link to our Aetna burial expense review.

Aetna Premiums

The prices stay the same & the policy never expires.

Age	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

The policy does not end once you turn 89.

It lasts forever once issued. 89 is just the maximum age for new applicants.

 

 

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3) Royal Neighbors of America

• Company founding date: 1895
• A.M. Best rating: A (excellent)
• Better Business Bureau rating: A+
• Product name: Simplified Issue Whole Life
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except AK, AL, HI, LA, MA, NH, NY
• Coverage amount range: $7,000-$30,000
• New applicant age range: 50-75 (policy lasts forever once issued)
• Optional riders: none
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 60 days
• Sample policy: click here
• How to apply: Agencies licensed to sell Royal Neighbors of America products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 15-20 minutes
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application Fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: type 2 diabetes | diabetic neuropathy | schizophrenia | bipolar disorder | depression | blood thinners | severely overweight | TIA mini-strokes | blood clots | tumors | home health care | retinopathy | multiple instances of cancer | hypertension | aneurysm | arthritis | asthma | irregular heartbeat | blindness | cholesterol | Crohn’s disease | diverticulitis | fibromyalgia | Grave’s disease | scleroderma | sleep apnea

Royal Neighbors isn’t a household name, but that doesn’t mean they are untrustworthy. It’s quite the opposite. First of all, they have been in business since 1895 and maintain an A rating with A.M. Best.

Believe it or not, they were the first life insurance company to offer life insurance to women and children.

Their burial expense life insurance has the most lenient underwriting compared to other final expense companies. By far, Royal Neighbors of America is the most diabetic-friendly burial expense carrier in the nation. They also accept a lot of other high-risk health issues.

Finally, they include (at no additional charge) many valuable member benefits to all their policyholders.

Here is a link to our Royal Neighbors of America burial expense review to get even more details.

Royal Neighbors premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$33.71	$39.61	$64.81	$76.61
55	$37.51	$46.31	$72.41	$90.01
60	$38.21	$50.11	$73.81	$97.61
65	$44.61	$58.81	$86.61	$115.01
70	$55.61	$74.81	$108.61	$147.01
75	$79.81	$110.41	$157.01	$218.21
80	$110.41	$153.81	$218.21	$305.01
85	$148.81	$212.71	$295.01	$422.81

The policy does not end once you turn 75.

It lasts forever once issued. 75 is just the maximum age for new applicants.

 

 

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4) Foresters Financial

• Company founding date: 1874
• A.M. Best rating: A (excellent)
• Better Business Bureau rating: A+
• Product name: PlanRight level benefit
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: policy is still active & payable (nothing changes)
• State where available for sale: all 50 states
• Coverage amount range: $5,000-$35,000
• New applicant age range: 50-85 (policy lasts forever once issued)
• Optional riders: accidental death (doubles the payout for accidental death)
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 70 days
• Sample policy: click here
• How to apply: Agencies licensed to sell Foresters Financial products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 15-20 minutes
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application Fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: seizure issues such as epilepsy | type 2 diabetes | type 1 diabetes | blood thinners | atrial fibrillation (Afib) | bipolar disorder | schizophrenia | depression | multiple sclerosis | sleep apnea | wheelchair usage

Foresters Financial has been in business since 1874 and currently has an A rating with A.M. Best. As a company, Foresters Financial is heavily involved in charity throughout the USA. For example, they partner with Ronald McDonald House and the Red Cross as part of their philanthropic agenda.

Their burial insurance plans come with competitive premiums, quick approval times, and accept many health conditions present among seniors. Foresters Financial grants every policyholder, at no extra cost, access to generous member benefits.

Your best funeral insurance policy may be with Foresters Financial. It just depends on your health.

To get even more details, here is a link to our Foresters Financial burial expense review.

Foresters Financial premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$26.05	$32.00	$48.95	$60.85
55	$31.16	$36.86	$59.17	$70.58
60	$35.41	$45.19	$67.67	$87.22
65	$42.80	$55.75	$82.44	$108.34
70	$53.42	$72.91	$103.69	$142.66
75	$75.08	$102.69	$147.00	$202.23
80	$111.08	$146.74	$219.01	$290.33
85	$165.92	$200.75	N/A	N/A

The policy does not end once you turn 85.

It lasts forever once issued. 85 is just the maximum age for new applicants.

 

 

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5) Transamerica

• Company founding date: 1904
• A.M. Best rating: A (excellent)
• Better Business Bureau rating: A-
• Product name: Immediate Solution preferred
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all 50 states
• Coverage amount range: $1,000-$50,000 (varies by age)
• New applicant age range: 45-85 (policy lasts forever once issued)
• Optional riders: accidental death (doubles the payout for accidental death)
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 31 days
• Sample policy: click here
• How to apply: Agencies licensed to sell Transamerica products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 2-5 business days
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application Fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: COPD or emphysema | diabetic neuropathy | blood thinners | bipolar disorder | schizophrenia | depression | Parkinson’s disease | kidney disease | disability

Transamerica’s Immediate Solution funeral life insurance product is a marriage of competitive premiums and lax underwriting. As a company, Transamerica has strong financials.

They have been in business since 1904 and currently have an A rating with A.M. Best.

Transamerica has a unique plan that comes with no waiting period for high-risk chronic conditions such as COPD.

To get even more details, here is a link to our Transamerica burial expense review.

Transamerica premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$25.30	$30.70	$47.10	$57.90
55	$29.10	$35.90	$54.70	$68.30
60	$33.60	$43.70	$63.70	$83.90
65	$41.60	$56.50	$79.70	$109.50
70	$53.90	$74.60	$104.30	$145.70
75	$72.80	$100.00	$142.10	$196.50
80	$104.00	$140.20	$204.50	$276.90
85	$148.60	$200.40	$293.70	$397.30

The policy does not end once you turn 85.

It lasts forever once issued. 85 is just the maximum age for new applicants.

 

 

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6) Prosperity Life Group

• Company founding date: 1938
• A.M. Best rating: A- (excellent)
• Better Business Bureau rating: A+
• Product name: New Vista level benefit
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash)
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except CT, DE, DC, HI, MT, ND, & SD
• Coverage amount range: $1,500-$35,000
• New applicant age range: 50-80 (policy lasts forever once issued)
• Optional riders: accidental death (doubles the payout for accidental death)
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 53 days
• Sample policy: click here
• How to apply: Agencies licensed to sell Prosperity Life Group products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 15-20 minutes
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: type 2 diabetes | diabetic amputations | depression | atrial fibrillation | blood thinners | blood clots | multiple sclerosis | tumors (noncancerous) | wheelchair usage (not because of a disease) | sleep apnea | cigar smokers | tobacco chewers | pipe smokers | pacemakers | defibrillator | fibromyalgia | diverticulitis | disability

Prosperity Life Group is likely not an insurance company that you know of by name. However, that does not mean they are financially insecure. They have been in business since 1938 and have an A- rating with A.M. Best.

They have an excellent burial insurance plan that is a superior choice for many folks. For example, non-cigarette smoking tobacco or nicotine users can all get a non-tobacco rating. Prosperity will only apply a tobacco price to those who smoke cigarettes.

They accept many high-risk health issues, are available in nearly all states, and have a simple, instant decision application process (takes 15 minutes).

To get even more details, here is a link to our Prosperity burial expense review.

Prosperity premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$29.15	$34.52	$54.70	$65.43
55	$29.93	$37.62	$56.27	$71.64
60	$35.88	$49.99	$68.17	$87.95
65	$44.42	$58.10	$85.25	$112.59
70	$59.13	$79.58	$114.66	$155.56
75	$80.19	$113.68	$156.78	$223.76
80	$98.30	$147.96	$193.00	$292.32

The policy does not end once you turn 80.

It lasts forever once issued. 80 is just the maximum age for new applicants.

 

 

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7) AIG

• Company founding date: 1919
• A.M. Best rating: A (excellent)
• Better Business Bureau rating: B
• Product name: Guaranteed Issue Whole Life
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: yes
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or any non-accidental death
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except ME & NY
• Coverage amount range: $5,000-$25,000
• New applicant age range: 50-80 (policy lasts forever once issued)
• Optional riders: none
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 45 days
• Sample policy: click here
• How to apply: Agencies licensed to sell AIG products or via AIG Direct.
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 3-5 minutes
• A Medical exam required: no
• Guaranteed acceptance: yes
• Down payment/application fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: HIV or AIDS | dialysis | angina | oxygen use | current internal cancer | CHF | dementia or Alzheimer’s | wheelchair-bound

AIG is a renowned long-standing life insurance carrier. They have an A rating with A.M. Best and have been in business since 1919.

AIG only offers guaranteed issue life insurance. This kind of policy has no health questionnaire or medical assessments. Your acceptance is guaranteed. As is the case with all guaranteed issue policies, there is a 24-month waiting period before the policy will pay out a death benefit. Should death occur during this time, AIG will merely refund 110% of the premiums paid.

Guaranteed issue burial policies are generally the last resort. However, they have their place when it comes to health issues that are such a high risk that you cannot qualify for a plan with underwriting.

To get even more details, here is a link to our AIG burial insurance review.

AIG premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$35.83	$51.92	$73.93	$101.85
55	$43.23	$56.90	$95.34	$125.17
60	$50.02	$63.17	$110.15	$138.18
65	$61.57	$84.15	$135.37	$184.61
70	$74.52	$98.18	$163.60	$215.24
75	$107.17	$138.55	$234.85	$303.31
80	$175.42	$246.44	$383.77	$538.70
85	$199.06	$315.82	$437.18	$692.70

The policy does not end once you turn 80.

It lasts forever once issued. 80 is just the maximum age for new applicants.

 

 

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8) Americo

• Company founding date: 1909
• A.M. Best rating: A- (excellent)
• Better Business Bureau rating: A+
• Product name: Eagle Premier level
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except NY & VT
• Coverage amount range: $5,000-$30,000
• New applicant age range: 50-85 (policy lasts forever once issued)
• Optional riders: none
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 60 days
• Sample policy: n/a
• How to apply: Agencies licensed to sell Americo products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 10-15 minutes
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: Parkinson’s disease | systemic lupus | heart attack | stroke | heart surgery | circulatory surgery | pipe smokers | chewing tobacco | home health Care | afib | cigar smokers | type 2 diabetes | multiple sclerosis | seizures

Americo has a unique burial life expense plan with no waiting period. Seniors with high-risk conditions such as Lupus, Multiple Sclerosis, diabetes, and many other conditions can all qualify for immediate coverage.

Americo has been around since 1909 and has an A- rating with A.M. Best. You can trust Americo is a financially secure insurance company capable of paying its claims.

To get even more details, here is a link to our Americo burial expense review.

Americo premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$27.67	$36.30	$51.55	$68.80
55	$31.32	$40.49	$58.84	$77.18
60	$38.46	$49.67	$73.11	$95.53
65	$48.65	$62.92	$93.50	$122.04
70	$60.88	$83.31	$117.95	$162.81
75	$83.31	$113.87	$162.81	$223.93
80	$129.12	$166.93	$254.45	$330.07
85	$190.69	$229.59	$377.59	$455.37

The policy does not end once you turn 85.

It lasts forever once issued. 85 is just the maximum age for new applicants.

 

 

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9) Liberty Bankers Life

• Company founding date: 1958
• A.M. Best rating: A- (excellent)
• Better Business Bureau rating: A+
• Product name: SIMPL preferred
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except CT, MA, MN, NH, NY, RI
• Coverage amount range: $3,000-$40,000
• New applicant age range: 18-80 (policy lasts forever once issued)
• Optional riders: accidental death & dismemberment | children’s term | grandchildren term
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 60 days
• Sample policy: n/a
• How to apply: Agencies licensed to sell Liberty Bankers Life products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 10-15 minutes
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: COPD or emphysema | chronic bronchitis | diabetes | bipolar | schizophrenia | depression | afib | epilepsy | fibromyalgia | seizures

Liberty Bankers Life is one of the few companies that will offer an immediate coverage plan to someone with COPD.

Liberty Bankers is also one of the few companies that will sell their coverage to people as young as 18. Most burial life insurance carriers start their products at age 50.

They have great rates and a fast application that takes less than 10 minutes. Don’t let their B++ rating with A.M Best rating scare you. That is still an excellent rating that is evidence of their financial security.

To get even more details, here is a link to our Liberty Bankers Life burial expense review.

Liberty Bankers Life premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$25.57	$30.51	$46.51	$56.39
55	$30.40	$36.79	$56.17	$68.95
60	$34.67	$45.80	$64.71	$86.97
65	$42.81	$55.94	$80.99	$107.26
70	$54.79	$73.31	$104.95	$141.99
75	$76.20	$100.15	$147.78	$195.67
80	$109.16	$146.80	$213.69	$288.97

The policy does not end once you turn 80.

It lasts forever once issued. 80 is just the maximum age for new applicants.

 

 

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10) Gerber Life

• Company founding date: 1967
• A.M. Best rating: A (excellent)
• Better Business Bureau rating: A+
• Product name: Guaranteed Life Insurance
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: yes
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or any non-accidental death
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except MT
• Coverage amount range: $5,000-$25,000
• New applicant age range: 50-80 (policy lasts forever once issued)
• Optional riders: none
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 31 days
• Sample policy: click here
• How to apply: Agencies licensed to sell Gerber Life products or directly from Gerber.
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 5-10 minutes
• A Medical exam required: no
• Guaranteed acceptance: yes
• Down payment/application fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: oxygen use | AIDS/HIV | current cancer | congestive heart failure | dementia | angina | wheelchair usage |

Gerber Life only offers a guaranteed issue whole life policy. Your acceptance is guaranteed regardless of your health or lifestyle.

Because there are no health questions, there is a two-year waiting period, as is the case with all guaranteed acceptance plans.

For a guaranteed issue policy, it’s a competitively priced plan suitable for people with very high-risk conditions such as HIV, dialysis, or cancer.

Gerber Life presently has an A rating with A.M. Best for many years. They are a financially sound life insurance company that can and does pay its claims.

Gerber is also infamous for their Gerber grow plan children’s insurance policy. It’s a good child policy, but not the best one available.

To get even more details, here is a link to our Gerber Life burial expense review.

Gerber Life premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$34.47	$44.09	$68.02	$87.27
55	$44.28	$57.93	$87.63	$114.95
60	$51.06	$63.89	$101.20	$126.87
65	$62.61	$85.16	$124.30	$169.40
70	$75.53	$99.18	$150.15	$197.45
75	$108.17	$139.52	$215.42	$278.12
80	$176.37	$247.32	$351.82	$493.72

The policy does not end once you turn 80.

It lasts forever once issued. 80 is just the maximum age for new applicants.

 

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11) American Amicable

• Company founding date: 1910
• A.M. Best rating: A (excellent)
• Better Business Bureau rating: A
• Product name: Senior Choice immediate benefit
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except CT, ME, MT, NH, NY, VT
• Coverage amount range: $2,500-$35,000 (varies by age)
• New applicant age range: 50-85 (policy lasts forever once issued)
• Optional riders: grandchildren’s term | children’s term | nursing home waiver | accidental death
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 61 days
• Sample policy: click here
• How to apply: Agencies licensed to sell American Amicable products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 8-10 minutes
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: cigarette smokers | pipe smokers | cigar smokers | afib | schizophrenia | bipolar disorder | depression | blood thinners | wheelchair usage

American Amicable is an A-rated company with A.M. Best. Their burial insurance is a quick issue policy accepting of common health issues present among seniors.

If you smoke cigarettes, American Amicable will likely offer you a lower price than any other company.

Unlike other carriers, American Amicable offers non-tobacco rates to applicants who smoke an occasional cigar or pipe.

Another exciting aspect of their program is their rider selection. You can opt to add some exciting perks to your policy for a few dollars extra per month.

To get even more details, here is a link to our American Amicable burial expense review.

American Amicable premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $20,000	Male $20,000
50	$26.67	$31.65	$50.69	$60.65
55	$33.69	$40.04	$64.74	$77.43
60	$38.27	$47.06	$73.89	$91.47
65	$47.06	$59.75	$91.47	$116.85
70	$60.38	$78.79	$118.12	$154.94
75	$81.73	$108.02	$160.82	$213.39
80	$113.68	$155.83	$224.72	$309.01
85	$166.03	$221.32	$329.41	$439.99

The policy does not end once you turn 85.

It lasts forever once issued. 85 is just the maximum age for new applicants.

 

 

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12) Baltimore Life

• Company founding date: 1882
• A.M. Best rating: B++ (good)
• Better Business Bureau rating: A+
• Product name: Silver Guard I
• Brochure: click here
• Policy type: whole life insurance
• 2-year waiting period: no (subject to underwriting approval)
• Premiums stay the same forever: yes
• Policy duration: forever (never expires)
• What does the policy cover: The net result is a tax-free cash payment (every funeral home accepts cash).
• Pays out due to accident: yes
• Are the proceeds taxable: no
• Who receives the money: anyone you want (family member, funeral home, friend)
• Can you have more than one beneficiary: yes (you can have as many as you’d like)
• Restrictions on how beneficiaries use the money: none (you can spend the money on anything)
• Do health issues after approval cause the policy to cancel: no (health issues after approval don’t matter)
• Payout exclusions in first two years: suicide or health misrepresentation
• Builds cash value: yes
• What if you move to another state/country: The policy is still active & payable (nothing changes).
• State where available for sale: all states except MA, MN, MO, NY, NC, SC, WA, WV
• Coverage amount range: $2,500-$25,000
• New applicant age range: 50-80 (policy lasts forever once issued)
• Optional riders: accidental death (doubles the payout for accidental death)
• Can children/grandchildren purchase a policy on parents: yes (their consent required)
• Time before lapse after a missed payment: 65 days
• Sample policy: n/a
• How to apply: Agencies licensed to sell Baltimore Life products (you cannot buy directly from them).
• Phone number to apply: 1-800-644-2926
• Sample application: click here
• Application approval time: 15-20 minutes
• A Medical exam required: no
• Guaranteed acceptance: no (there are health questions)
• Down payment/application fee: none
• 1st payment required at application: no (you choose when the first payment begins)
• Common health issues they accept: cancer | heart attack | circulatory surgery | heart Surgery | congestive heart failure | diabetic coma | amputation due to diabetes | angina | stroke | home health care | insulin shock | diabetic nephropathy

Baltimore Life isn’t a commonly known name, but don’t let that fool you. They have been operating since 1882. Also, they have a B++ rating with A.M. Best which is considered good.

Their application process is swift. Generally, approvals take less than 15 minutes.

To get even more details, here is a link to our Baltimore Life burial expense review.

Baltimore Life premiums

The prices stay the same & the policy never expires.

Age	Female $10,000	Male $10,000	Female $15,000	Male $15,000
50	$27.90	$33.30	$39.15	$47.25
55	$32.40	$39.60	$45.90	$56.70
60	$38.70	$48.60	$55.35	$70.20
65	$47.70	$60.30	$68.85	$87.75
70	$61.20	$78.30	$89.10	$114.75
75	$81.00	$104.40	$118.80	$153.90
80	$117.90	$147.60	$174.15	$218.70

The policy does not end once you turn 80.

It lasts forever once issued. 80 is just the maximum age for new applicants.

 

 

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Here’s the story with waiting periods

First of all, final expense insurance with no waiting period does exist. Many companies offer it.

For example, of the 12 companies you see on this page, 10 of them offer immediate coverage with no waiting period.

The most important thing you must understand is that you must qualify for a policy with no waiting period in every circumstance.

To get immediate coverage, you have to apply with a company where you do answer health questions. You don’t have to take an exam, but you will have to answer health questions.

Thankfully, many companies have diverse and lenient underwriting, so getting no waiting period coverage is usually possible.

The only way for you to know if immediate coverage is possible is for you to speak with one of our agents. They’ll ask you some questions on your health so they can quickly determine if no waiting period coverage is possible.

Just know there are some situations where you 100% cannot get immediate coverage.

Suppose any of the conditions below apply to the person you’re trying to insure. In that case, it will be a modified whole life policy with a two-year waiting period.

• Dialysis
• HIV or AIDS
• Cancer or treatment for cancer within the last 12 months
• Hospice
• Currently in a hospital or nursing facility
• Heart attack within the previous 12 months
• Full-blown stroke within the previous 12 months (mini-strokes don’t count)
• Diabetic coma or insulin shock within the last 24 months
• Diabetic amputation within the previous 24 months
• Alzheimer’s or dementia
• Terminal illness
• Circulatory surgery within the previous 12 months
• Heart surgery within the previous 12 months
• Congestive heart failure

That is not an all-inclusive list, but these are the most common ones.

If you don’t have any of those conditions, we can probably get you immediate coverage.

Every day we secure coverage for folks with no waiting period. Most of them thought it wasn’t possible.

 

Sample applications & policies

Want to see the application? What health questions they ask (if any)?

Below are some sample policies and applications from the top 12 final expense companies.

Please note, you cannot complete these applications and send them in all on your own. All but two of the companies below require that you deal with an agency (such as Choice Mutual) to apply.

Only Gerber and AIG will allow you to apply directly with them without talking to an agent.

 

Types of funeral insurance plans

There are typically five different burial insurance plans you could qualify for (Level/Preferred, Standard, Graded, Modified & Guaranteed Issue). Which rate plan a company offers you and the monthly price is directly related to your health.

 

Level/Preferred

A level or preferred rating (these two words mean the same thing) is when the company approves you for the lowest price they offer. In addition, the coverage has no waiting period. Generally, you can only qualify for this rating if you can honestly respond with “no” to all the health questions (not including the tobacco question).

 

Standard

A standard plan has no waiting period, but the price is somewhat higher than a level/preferred plan due to a health issue(s). For example, multiple funeral insurance companies will offer a standard rating to folks who have COPD.

 

Partial

Often referred to as “graded coverage” by most insurance companies, a partial coverage plan would pay out a portion of the death benefit if you died during the first two years. They usually payout 30%-40% during the first year and 50%-70% during the second year. After two years, the entire death benefit is active. Also, keep in mind that a partial coverage plan will also cost more than a preferred/level plan.

 

Modified

A modified rating is the most expensive plan possible. Generally, only those with severe recent health issues will qualify for this rating. These plans will always have a 2-3 year waiting period (varies by the insurance company). Second, these plans typically cost at least 80% more than a level/preferred plan.

 

Guaranteed issue

Also commonly called “guaranteed acceptance,” these plans have no health or lifestyle questions. Simply put, you are guaranteed to be approved. The insurance company knows nothing about your health. A policy like this (such as Alex Trebek’s life insurance) with no health questions will always (no exceptions) have a 2-3 year waiting period before you’re covered.

In addition, they typically cost much more per month because the insurance company takes on a serious risk since they know nothing about your health. Generally speaking, guaranteed issue is the last resort if you have an uninsurable condition such as HIV, dialysis, transplants, or are wheelchair-bound.

 

Finding the best burial policy

Ultimately, the way you get the best end-of-life insurance is by comparing offers from multiple insurance companies to see which one is best.

It would help if you accepted that this is not something you can do entirely on your own as a consumer.

Yes, you can do online research and get quotes just like you’re doing now on this website.

However, there is no way for you to determine if any particular company will accept you and what precisely the price will be.

Only a licensed agent can A) determine what you’re eligible for with each final expense company and B) what your exact price per month will be.

Know this:

At all costs, you must work with a qualified independent final expense life insurance agency that can compare offers from 10-20 different insurance companies. Their entire objective is to determine which one is best for you.

And you may not believe this, but it’s true.

Over half of final expense life companies do not sell their products directly (source). They rely on agencies to market their products for them.

Plus, there are dozens of funeral insurance companies that you’ve never heard of, and you need them.

In 2018, the USA had 773 life insurance companies. It’s important to remember that only a tiny fraction (less than 1%) of them advertise on TV, in magazines, online, or newspapers.

That means over 99% of the life insurance companies aren’t household names. These non-name brand companies are not bad or untrustworthy. They are equally as reputable and financially stable as the carriers that do advertise on TV.

We’re saying this because it might very well be that your best burial insurance plan is with a carrier that isn’t a household name.

Please be open to this concept. Trust that just because it’s not a household name like Mutual of Omaha or State Farm, you can still feel supremely confident they will pay your claim.

So to gain access to the best companies, you must with an independent agency (which doesn’t cost you anything, by the way).

The best funeral policy has the three following elements.

1. Financial track record: An insurance policy is only as good as the issuing insurance company’s ability to pay its claims. It would be best to look for a company with a solid and reliable financial track record. A.M. Best is the most prestigious rating agency for insurance companies. Only consider companies that have a B rating or higher.
2. When you are covered: At all costs, try to get a plan with no waiting period. Nobody knows what tomorrow holds, which is why you must get an immediate benefit plan if possible. Your health may be such that you will have a partial or total waiting period. It would be best to get your policy now to start chipping away at that waiting period.
3. Cost of the insurance: All things considered, look for a price on the lower end of the spectrum. Some final expense insurance companies have high prices for no apparent reason. Compare rates from multiple providers and ensure you’re paying a fair price and not getting gouged.

Any final expense insurance plan that satisfies all three of those requirements is a plan you want to secure as soon as possible.

Give us a call, and we’ll give you excellent service and help you find which plan is best for you. Check out what other real customers have to say after working with us.

Alternatives to burial insurance

A final expense whole life insurance policy isn’t the only way to financially prepare for a funeral. For some folks, it’s easily their best option. However, some people don’t like the insurance option and would prefer to pursue other avenues.

Below are some alternatives to consider.

Pre-paid funeral

A prepaid funeral is a plan you set up directly with a local funeral home to design your preferred funeral. After you have made all your selections, they will tell you how much it costs.

You can elect to pay cash upfront or make monthly payments for 1, 3, 5, or 10 years. Your funeral is paid for after you’ve made all your payments. Keep in mind that if you make payments, you’re going to pay in a total amount that exceeds the funeral cost. That is the price you pay for making payments instead of paying cash. If you’re making payments, expect to pay $125-$300 per month.

Other forms of life insurance

A whole life burial insurance policy isn’t the only type of life insurance used to pay for final expenses. Technically, you can cover end-of-life costs with the proceeds from any form of life insurance.

So if you have an existing life insurance policy, that could also be relied upon to pay for your burial expenses.

Keep in mind that many forms of life insurance expire after a certain number of years. It would be unwise to rely on a plan that ends at age 75 or 80. The chance that you’ll live longer than that is high, and then you would have nothing to pay for your funeral bills.

POD account

A payable-on-demand account (aka POD) is a particular type of bank account where the funds will are dispersed to beneficiaries upon the account holder’s passing.

If you set up and fund this account (make sure you deposit enough to cover all your final expenses), notify the beneficiaries. Otherwise, they won’t know it exists.

Ultimately, upon your passing, the funds in this account will be paid to your beneficiary(s), and they could use that money for your funeral.

Retirement portfolio

You could rely on money from your retirement account to pay for your funeral costs.

Using a retirement fund would be highly unadvisable because it takes so long for funds in a deceased person’s retirement account to be accessible.

The money in your retirement account would not be accessible until after they settle probate. Probate can take months to complete. Most families want a funeral carried out very soon after the death of a loved one.

Again, it would not be wise to go this route, but you could if you don’t like the other options.

 

Can you buy funeral insurance for someone else?

Yes, you can purchase burial insurance for another individual, provided they consent to the issued policy. You cannot buy life insurance (in any form) on someone else without their knowledge and consent. Getting quotes and asking questions on your own is fine, but you’ll need them to apply.

Insuring other people is not uncommon. In fact, one of the most frequent inquiries we get is from children seeking to insure their parents or someone trying to cover their sibling.

If you have their blessing, you can buy final expense insurance on any of the following:

• Parents
• Brother or sister
• Aunt or uncle
• Grandparents
• Anyone else

The best thing to do is to start by having a conversation with an agent, so you can get quotes and become familiar with the application process.

Then talk with the person you want to insure and make sure they are on board with participating in the process. At that point, it’s just a matter of coordinating with your agent so the three of you can formally apply.

 

Frequently asked questions

Is burial insurance worth buying?

If you cannot afford to pay for your funeral, a burial insurance policy is likely worth buying. It can provide immediate peace of mind knowing your funeral bills won’t become a financial burden for your loved ones.

 

What is covered by burial insurance?

Burial insurance does not cover anything other than your life. Remember, it is a life insurance plan. The policy will pay out a tax-free cash benefit to your beneficiary(s). There are no restrictions on how the money is used.

 

Is burial insurance the same as life insurance?

Yes, burial insurance is life insurance. It’s generally a small whole life policy meant to provide a quick cash payment to your family so they can pay for your funeral expenses.

 

Does AARP offer burial insurance?

AARP does not provide burial insurance. They market insurance for New York Life. The AARP life insurance program has both permanent and term life insurance to cover burial expenses.

 

Is final expense insurance a good deal?

Final expense insurance is a good option because it can prevent your family from paying your funeral expenses which can easily exceed $10,000 for a traditional burial.

 

Who has the best burial insurance?

Top 5 burial insurance companies:

• Best price: Mutual of Omaha
• Best for people with diabetes: Royal Neighbors of America
• Best for elderly: Aetna
• Best guaranteed issue: AIG
• Best for smokers: American Amicable

 

How do final expense policies work?

Final expense policies are generally small whole life insurance plans meant to cover your funeral bills. The rates don’t change; the coverage stays the same, and the policies never expire. Since they are primarily for funeral bills, most companies pay out the benefits within 24-48 hours.

 

Can I buy cremation insurance?

Yes, you can buy insurance to cover cremation expenses. It’s generally a small whole life policy designed to cover the costs associated with a cremation funeral. These plans are easy to qualify for and cost very little since they only insure you for a small amount.