The 12 Best Burial Insurance Companies (PLUS How To Find The Best Policy For You)

Written by Choice Mutual | Last updated: September 21, 2018

burial insurance companies

You can see quotes from all the top burial insurance companies in your state by using the quick quote tool on this page.

The truth is there are a lot of burial life insurance companies to choose from. But the question is…

Which burial life insurance company is best for YOU?

best burial insurance companies

Well that’s what we are going to discuss today.

In this article, we will clearly define what burial insurance is, how these policies are unique, and show you the top 12 final expense companies (and why we chose them).

Also, we’ll explain some of the best features of final expense life insurance, give you quick access to multiple funeral insurance companies reviews, and teach you a bulletproof plan on how you can find the best final expense company for you.

Article Quick Navigation Links

  1. What Is Burial Insurance, Final Expense, & Funeral Insurance?
  2. The 12 Best Burial Insurance Companies [With Sample Quotes]
  3. How Burial Policies Are Unique
  4. 10 Of The Best Features Of Final Expense Life Insurance
  5. Other Final Expense Insurance Companies Reviews
  6. How To Find The Best Funeral Insurance Plan

 

What Are Burial Insurance, Final Expense Insurance, & Funeral Insurance?

Let’s be very clear on one important indisputable fact.

The main thing to understand is that burial insurance is life insurance.

It’s just a very specific kind of life insurance where the proceeds of the policy are meant to pay for end of life expenses.

More precisely, burial insurance is whole life insurance. However, these whole life policies are different in a few key ways (which we discuss a little further below).

Since these are whole life plans, the way they function is incredibly simple. There really is no fine print you need to be leery of.

Here’s how they work…

  1. Premiums are locked in for life and cannot increase
  2. Death benefits are guaranteed to never decrease
  3. The policy cannot expire due to age

That completely sums up how the policy works. Basically, once your burial policy is in place, it never changes in any way.

Then once the Good Lord calls you home, the insurance company will pay out the death benefit in the form of a tax-free check directly to your beneficiary(s).

Those proceeds will give your loved ones the money needed to pay for your funeral costs, so they don’t have to come up with the funds out of their own pocket.

 

Oh and here’s some amazing news…

If there is any money left over after the funeral bills have been paid, it stays with your family to enrich their lives as they see fit!

 

Don’t get confused

The terms “burial insurance”, “funeral insurance”, and “final expense insurance” are not official terms so to speak.

They are honestly just marketing expressions.

Here’s the deal

It’s routine to see companies use the terms “final expense insurance” and “funeral insurance” used interchangeably along with the label “burial insurance”. All three names mean the same thing. There is no difference in any way.

Final Expense Insurance = Burial Insurance = Funeral Insurance

In this article (on our whole website really), you will notice that we consistently use all 3 terms.

Important Tip: If you ever see a website claim these 3 terms have different meanings run as fast as you can! There are websites that do suggest this, and it’s pure fallacy 😞. Making this claim would be akin to stating that the words “attorney” and “lawyer” have different meanings.

 

List Of The Best Burial And Final Expense Insurance Companies

These funeral insurance companies have final expense products offering unmatched value in terms of price and/or underwriting.

  1. Mutual of Omahaaward for best burial insurance company
  2. Royal Neighbors of America
  3. Foresters Financial
  4. Transamerica
  5. Assurity
  6. AIG
  7. Americo
  8. Liberty Bankers Life
  9. Sentinel Security Life
  10. American Amicable
  11. Baltimore Life
  12. Aetna (American Continental Insurance Company)

 

Why Did We Choose These Final Expense Insurance Companies To Be Among The Best?

First, all these insurance companies are very financially stable. All of them have at least an A rating or better with A.M. Best.

You could have coverage with any one of them, and feel completely confident they will all be able to pay your claim when the time comes.

Second, from a cost perspective, they all offer market competitive rates. You will receive a fair funeral insurance price from any of these companies.

Last, each of these burial policy companies offer unique underwriting value for specific health conditions. To be clear, what health niche(s) they serve varies from company to company. Ultimately, each of these carriers stands out in their own way when it comes to underwriting various afflictions.

Everyone is unique. For that reason, one of these companies might be the best final expense insurance company for you, but another person might be better served by a different carrier. There is no company the is the best for everyone.

Having said that, your best burial insurance policy likely resides with one of these funeral insurance companies 😉.

 

Top 12 Best Burial Insurance Companies In The USA

5 star rated companies

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

 

 

1) Mutual Of Omahamutual of omaha logo

Click Here To See A Product Brochure

Underwritten by one of the most well-respected life insurance companies in the world, Mutual of Omaha’s “Living Promise” (that’s what they call this product) final expense policy might very well be the best on the market.

Their premiums are consistently among the lowest, they can insure a variety of health issues, and most applicants can qualify for their immediate benefit plan.

To get even more details, here is a link to our Mutual of Omaha Final Expense Review.

Mutual Of Omaha Premiums

AgeFemale
$10,000		Male
$10,000		Female
$20,000		Male
$20,000
45 $22.61 $25.45 $42.01 $47.69
50 $24.67 $29.16 $46.14 $55.11
55 $28.40 $35.09 $53.60 $66.98
60 $32.87 $42.76 $62.53 $82.31
65 $41.01 $55.76 $78.82 $108.31
70 $53.24 $73.70 $103.28 $144.20
75 $72.41 $99.53 $141.62 $195.85
80 $98.43 $132.65 $193.66 $262.11
85 $135.90 $183.15 $268.60 $363.10

 

 

2) Royal Neighbors Of Americaroyal neighbors logo

Click Here To See A Product Brochure

Although they are not a household name, Royal Neighbors has an outstanding track record that spans over 120 years. They were one of the first insurance companies to insure women and children.

They are a nonprofit fraternal organization licensed to provide insurance, so they include (at no additional charge) many valuable member benefits to all their policyholders. You can see a list of their member benefits here.

Their final expense life insurance probably has the most lenient underwriting out of all the top final expenses insurance companies. This is particularly true for diabetics. In fact, it wouldn’t be too bold to claim they are far and above the most diabetic friendly final expense carrier in the nation 😮.

They aren’t just for diabetics either. They can and do insure applicants of all health profiles.

To get even more details, here is a link to our Royal Neighbors of America Final Expense Review.

Royal Neighbors Premiums

AgeFemale
$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

 

 

3) Foresters Financialforesters logo

Click Here To See A Product Brochure

Foresters Financial is another company that is a fraternal organization. They provide high quality final expense insurance, and generous member benefits to all their customers at no additional charge.

As a company, they are heavily involved in charity throughout the USA. For example, they partner with both the Ronald McDonald House and the Red Cross as part of their philanthropic agenda.

Foresters PlanRight final expense offers competitive premiums, quick approval times, and can serve up unbeatable value for a wide variety of underwriting scenarios (as shown above).

It’s quite possible that your best funeral insurance policy is with Foresters Financial. It just depends on your health.

To get even more details, here is a link to our Foresters Financial Final Expense Review.

Foresters Financial Premiums

AgeFemale
$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$200.75N/AN/A

 

 

4) Transamericatransamerica logo

Click Here To See A Product Brochure

Backed by an outstanding insurance company, Transamerica’s Immediate Solution final expense product is a marriage of competitive premiums and lax underwriting.

They are one of the few carriers that will offer a no waiting period policy for someone with COPD, emphysema, or kidney disease.

All around, anyone able to qualify for their immediate solution plan can feel comfortable knowing they are paying a fair price for a quality burial insurance plan.

To get even more details, here is a link to our Transamerica Final Expense Review.

Transamerica Premiums

AgeFemale
$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

 

 

5) Assurityassurity logo

Click Here To See A Product Brochure

Officially certified as a B corporation, Assurity is interested in more than just making a profit.

They offer a unique final expense product that can serve many people of different backgrounds very well.

For starters, they are the absolute best company in the nation for folks who have COPD (you must not be smoking still). You will not have to endure a waiting period or pay a higher premium with Assurity just because you have COPD or emphysema. Talk about value.

They have incredibly low tobacco rates, coverage for people under 50, and they are one of the only companies to offer partial coverage to someone who has CHF.

All around, Assurity’s Lifescape final expense plan could be a great option for you. Like we’ve said many times over; it just depends on your health.

To get even more details, here is a link to our Assurity Final Expense Review.

Assurity Premiums

AgeFemale
$10,000		Male
$10,000		Female
$20,000		Male
$20,000
50$25.48$28.82$48.77$55.44
55$29.37$34.28$56.55$66.37
60$34.74$41.65$67.28$81.10
65$44.03$53.87$85.85$105.55
70$56.41$73.05$110.62$143.90
75$76.89$100.55$151.59$198.90
80$113.89$155.57$225.58$308.93

 

 

6) AIGaig logo

Click Here To See A Product Brochure

AIG only offers what’s called guaranteed issue life insurance. This kind of policy has no health questionnaire or any 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 premiums paid.

AIG has some of the lowest premiums for guaranteed issue final expense relative to the other companies in the market. In addition, they are the only company that offers two free riders on every policy.

There’s a terminal illness rider that will allow you to access some of your death benefit if you are ever diagnosed with a terminal illness and given a life expectancy. In addition, they offer a Chronic Illness rider that will allow you to access some of your death benefit should you develop a chronic illness are unable to perform your activities of daily living.

Guaranteed issue burial policies are generally a last resort, but they do have their place when it comes to health issues that are so high risk you are unable to qualify for a plan that has underwriting.

To get even more details, here is a link to our AIG Burial Insurance Review.

AIG Premiums

AgeFemale
$10,000		Male
$10,000		Female
$20,000		Male
$20,000
50$35.83$51.92$69.66$101.85
55$39.86$56.50$77.71$110.99
60$45.14$63.17$88.27$124.33
65$54.51$73.09$107.02$144.18
70$70.41$93.14$138.83$184.28
75$95.82$124.49$189.63$246.98
80$135.12$175.15$268.25$348.30
85$204.20$298.86$406.41$595.73

 

 

7) Americoamerico logo

Click Here To See A Product Brochure

Americo has two different final expense products. Their Ultra Protector plan is useful for a wide variety of health conditions. This plan is one of the few on the market that comes with 100% day one coverage for folks with COPD or emphysema. The Ultra Protector plan also offers immediate coverage for some other high risk conditions.

Their other plan goes by the name Eagle Premier. This particular plan is unique in various ways. One of the most significant benefits to this plan is the fact that non-cigarette smoking tobacco users can qualify for non-tobacco rates.

It’s also very useful, like their Ultra Protector Series, for multiple high-risk factors.

Regardless of your particular health issue(s), there is a good chance that Americo can offer you a low-cost funeral insurance policy that has no waiting period.

To get even more details, here is a link to our Americo Final Expense Review.

Americo Premiums

AgeFemale
$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

 

 

8) Liberty Bankers Lifeliberty bankers life logo

Click Here To See A Product Brochure

Without question, Liberty Bankers Life has one of the most unique final expense products in the country.

For example, people with COPD, emphysema, liver diseases, or kidney disease can qualify for a plan with a full day one benefit 😮. That is incredibly rare. Most carriers would absolutely impose a partial or full two year waiting period for these conditions.

Liberty is also one of the few companies that opens their plan up to people as young as 18. Most final expense life insurance carriers start their products at age 50.

All around, Liberty Bankers life can be a great fit for folks with high risk health issues, and for healthy individuals. Honestly, they are a great option for just about everyone.

To get even more details, here is a link to our Liberty Bankers Life Final Expense Review.

Liberty Bankers Life Premiums

AgeFemale
$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

 

 

9) Sentinel Security Life sentinel security life

Click Here To See A Product Brochure

Sentinel Security Life also has an incredibly unique final expense program.

Their final expense coverage is available to people as young 6 months, they offer 10 pay, 20 pay, paid up at 65, paid up at 85, and single premium options. Very few burial insurance carriers offer these payment options.

The biggest reason why Sentinel Security Life is on this list is because they are literally the only carrier that will offer some form of immediate protection to people who use oxygen. All other carriers will flat decline applicants who use oxygen or impose a full 2 year waiting period.

Quite frankly, there are many underwriting niches they serve for a wide variety of high risk health issues.

Their only real downside is their state availability is rather limited.

To get even more details, here is a link to our Sentinel Security Life Final Expense Review.

Sentinel Security Life Premiums

AgeFemale
$10,000		Male
$10,000		Female
$20,000		Male
$20,000
50$23.06$27.73$43.10$52.44
55$26.94$34.43$50.86$65.84
60$33.79$42.42$64.57$81.84
65$42.42$53.82$81.84$104.63
70$53.12$69.93$103.23$136.84
75$76.34$97.43$149.67$191.85
80$108.30$147.07$213.59$291.13
85$160.85$202.75N/AN/A

 

 

10) American Amicableamerican amicable logo

Click Here To See A Product Brochure

American Amicable is not a company that appeals to a broad audience. Their final expense policy is a great option for certain selection situations.

As one example, their tobacco user rates are quite competitive. They are typically a much cheaper option for cigarette smokers relative to other carriers.

In addition, they are one of the few companies that will offer non-tobacco rates to folks who smoke an occasional cigar or pipe.

Another very interesting aspect to their program is their rider selection. You can opt to add some interesting perks to your policy for a little bit extra each month. Some customers really like their riders.

At the end of the day, they aren’t a great fit for everyone, but for certain groups they are an excellent choice.

To get even more details, here is a link to our American Amicable Final Expense Review.

American Amicable Premiums

AgeFemale
$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

 

 

11) Baltimore Lifebaltimore life logo

Click Here To See A Product Brochure

Baltimore life has a very unique product because they are the only carrier that will offer partial coverage to folks with some serious recent health issues. With virtually every other carrier, these health issues will result in a full two year waiting period.

Their graded plan will pay out 25% of the death benefit should death occur during year one, and 50% during year two. Their graded plan accepts all sorts of high risk conditions such as recent heart attacks, cancer, and congestive heart failure to name a few.

If you are willing to pay a little extra to have some coverage that starts immediately and you’ve recently had a high risk health event, Baltimore Life just might be your best option.

To get even more details, here is a link to our Baltimore Life final Expense Review.

Baltimore Life Premiums

AgeFemale
$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

 

 

12) Aetna aetna logo

Click Here To See A Product Brochure

Aetna is on this list for a variety of reasons. Chief among them is because they offer coverage to folks up to age 89. It’s incredibly uncommon for any life insurance company to insure applicants over 85.

Their underwriting is also quite unique. They are one of the few carriers that offer partial coverage to CHF patients and cancer survivors (must be a year out). At the same time, there are other niche health issues where they really stand out such as chronic kidney disease, extremely obesity, home health care, and mental health afflictions.

All around, Aetna has built a very unique product that allows them to offer great value to many seniors who are looking for final expense coverage.

To get even more details, here is a link to our Aetna Final Expense Review.

Aetna Premiums

AgeFemale
$10,000		Male
$10,000		Female
$15,000		Male
$15,000
45$30.00$35.00$56.67$66.67
50$32.50$35.83$60.00$68.33
55$38.33$45.00$73.33$86.67
60$42.50$51.67$81.67$100.00
65$51.67$62.50$100.00$121.67
70$65.83$81.67$128.33$160.00
75$85.83$108.33$168.33$213.33
80$119.17$145.83$235.00$288.33
85$161.67$199.17N/AN/A
86$174.17$220.83N/AN/A
87$186.67$242.50N/AN/A
88$198.33$264.17N/AN/A
89$210.83$285.83N/AN/A

 

How Burial Insurance Plans Are Unique

Make no mistake, final expense policies are whole life insurance insurance.

But they are special whole life policies.

Here’s how final expense life insurance plans are unique…

 

#1 Incredibly Lenient Underwriting

Without question, the underwriting is the most unique aspect of final expense insurance that sets it apart from traditional life insurance.

First of all, there is never a medical exam as part of the application. You only have to answer some basic questions about health. In fact, there are even some policies that have no health questions at all 😮.skip the medical exam

It gets even better

To say final expense insurance policies have lenient underwriting would be a massive understatement.

Burial insurance companies built these plans to absorb heavy risk, so that seniors with all sorts of health conditions can still qualify.

We simply cannot overstate this point enough.

The kind of health issues accepted by these final expense companies would get you auto declined for traditional life products.

Here’s the bottom line.

The overwhelming majority of applicants can answer health questions and get approved with some funeral insurance company. It’s just a matter of finding which life insurance company has the right underwriting for you.

 

#2 No Health Questions Guaranteed Acceptance Available

You may not believe this, but it’s 100% true.

There are final expense life insurance companies that offer policies that have absolutely no health questions at all!

 

Yes you read that correctly.

These policies are commonly referred to as “guaranteed acceptance” or “guaranteed issue” life insurance policies.

Basically, the insurance company won’t evaluate your health in any way. Your acceptance is guaranteed. If you meet the age requirements, you can get a policy.

But wait there’s a catch

Guaranteed acceptance policies do come with two pretty significant drawbacks that you need to be aware of which is why they should always be a last resort.

  1. They ALL have a 24-month waiting period. If you pass away during this time, the insurer will merely refund all your premiums plus a little interest.
  2. They cost much more per month. The insurance companies are taking on substantially more risk, so they must charge more to cover the increased risk.

While it’s rare that someone truly needs a no health question policy, it does occasionally happen. It’s usually VERY serious health issues such as…

  • AIDS or HIV
  • Alzheimer’s or dementia
  • Dialysis
  • Organ transplants
  • Currently have cancer & have had it previously
  • Terminal illness
  • Wheelchair bound due to an illness or disease
  • In a nursing home

Outside of those sorts of serious life-threatening conditions, you can almost certainly qualify with some burial insurance company where you are answering health questions.

You’ll pay less and have coverage that starts from day one instead of having to wait two years before it kicks in 🙌.

 

#3 Small Face Value Options

Believe it or not, some final expense companies will allow you to buy as little as $1,000 in coverage!

This is a an amazing feature because it allows you to buy only what you need to cover you final expenses.

For example, if you want to be cremated you only need between $2,000-$5,000 in coverage. Thankfully, burial insurance companies allow you to buy those kinds of small amounts. You don’t need to pay for coverage that you don’t need.  You’d easily be able to buy just enough final expense insurance for cremation and save money because you are only purchasing what you need.

On the high end, most companies tend to have a maximum face amount between $25,000-$50,000.

You might be wondering… What if I want more than $50,000?

Have no fear because you can still do that. You can technically have a much as you want. You will likely just need to buy multiple policies from more than one company to get to the total face amount you are looking for.

 

10 Of The Best Features Of Final Expense Insurance

Let’s face it; funeral are expensive these days. An average burial can cost over $10,000 😰.

Now you don’t want these bills to be left to your family. Your presence on this website right now is evidence of that.

A final expense policy is the perfect solution to this problem, but these aren’t your ordinary life insurance policies though.

They are special.

So it begs the question: How are they special?

We’ll show you how…

 

★ No Exams To Qualify ★

At no point will you ever be required to give a blood or urine sample or provide your medical records. The application process will literally only consist of asking you some basic health questions.

 

★ Super Lenient Underwriting ★

Final expense policies were designed to accept the risk of some fairly major health issues. This means that despite some problematic ailments, you can still get a policy!

Life insurance companies understand it’s only natural to develop health challenges with age. If they only accepted the very healthy, they would have no clients!

Although final expense plans do have very relaxed underwriting, there are indeed some health issues that are so high risk that they are uninsurable. In those cases, you’ll need a guaranteed issue policy to secure coverage (see below).

 

★ Guaranteed Issue Available If Necessary ★

As mentioned above, there are some health conditions that so negatively affect life expectancy that no insurer will touch it via a policy with any sort of underwriting.

In these circumstances, a guaranteed issue policy is totally appropriate (and likely your only option). These plans have no heath questions or medical checks of any kind. Your acceptance is always guaranteed.

The caveat to these no health question plans is that they come with a two-year waiting period and they cost more.

Basically, if you die in the first two years, the insurer will refund all your money plus interest. After the two years however, your coverage will pay out in full for any reason.

While they are rarely needed, guaranteed acceptance plans do have their place. Click here to see all the health conditions where a guaranteed issue policy is either your only option or it’s your best option.

 

★ Portability ★ United States map

What happens if you move?

Well if you have a pre-need policy at a funeral home, that could be a big issue since you are no longer near that funeral home.

However, with a final expense policy, you are not bound to any geographical location.

Remember, a funeral insurance policy will merely pay out cash. It does not matter where you are. The insurance company will cut a check even if you pass away in another country.

No matter where you go, every funeral home in the world will accept cash.

And guess what?

Final expense policies pay out cold hard cash tax free 😉.

 

★ Permanent Policy Where Nothing Changes ★ reliable

Since burial insurance policies are whole life insurance, you can anticipate nothing changing on you.

There will never come a day where you get a letter in the mail informing you that your payment is going up, or that your coverage is decreasing, or that your policy will be expiring soon.

It will remain the same, and it will last forever no matter how long you live 😎.

 

★ Small Face Value Options ★small

You can buy as little or as much as you want.

Some carriers will allow you to buy as little as $1,000 in protection, but most seem to have a $2,000 minimum.

Ultimately, you can only buy what you need.

 

★ Lightning Fast Approvals ★lightning fast

At Choice Mutual, our average approval time is 18 minutes from the moment we submit the application.

As a whole, approval times can range from 12 minutes to 3 business days.

The length of time it takes entirely depends on which company you apply with. Having said that, no matter what you’ll know very quickly if you have been accepted.

 

★ Cash Value Accrues Over Time ★bag of money

Since these are whole life policies, cash value will build up over time. This cash value can be used should a financial emergency arise. You can even set up your policy to use the cash value to pay your premiums for you should you ever not have enough money in the bank to cover the payment.

While nobody should take out a final expense policy because of the cash value, it is a nice feature to have access to. Cash value really is just icing on the cake.

 

★ Lots Of Carrier Options ★who to choose

10,000 seniors per day are turning 65, and many of them do not have enough money to cover their final expenses.

This is the exact reason why final expense life insurance is so popular. The demand is incredibly high.

With high demand, comes competition among insurance companies eager to serve the market.

The bottom line is that there are a ton of life insurance companies offering final expense coverage.

This plays out very well for you the consumer because more competition among insurers means lower rates and lots of options to choose from.

 

Links To More Final Expense Insurance Reviews

In addition to the above reviews of the top final expense companies, below are some quick links to even more final expense reviews.

We’ve taken a fine-tooth comb to each of these companies, so you can obtain a behind the scenes look at each carrier. Feel free to click on whichever one you are interested in learning about.

Side Note: If there is a company you want us to review, please let us know. Just email us at info @ choicemutual.com, and we’ll do a complete workup on the company you are interested in. We’ll publish it on our website within three business days.

 

Finding The Best Funeral Insurance Policy

So you’ve decided that you want the peace of mind that a final expense policy can provide to ensure your family will never be left the burden of unpaid funeral expenses.

The next step is to find and secure the right policy for you.

Want to know the best part?

Finding the best final expense insurance is very simple!

It won’t take you weeks to accomplish or hours of calling. In fact, if you follow our instructions below, you can have this done in minutes.

But first, we need to clearly define something, so you know exactly what you are looking for.

 

What Constitutes The Best Burial Insurance?

We think you agree with us when we say that it’s going to be nearly impossible to find something when you don’t even know what you are looking for.

So here’s the bottom line

The best burial insurance plan has 3 critical elements.number one reward

  1. The policy is provided by an insurance company that has a strong and reliable financial track record.
  2. It protects you as much as possible as soon as possible (no waiting period if achievable).
  3. The policy costs less than what other insurance companies will charge.

Any burial insurance plan that satisfies all three of those requirements is a plan you want to move on as soon as possible.

All three elements are important, so let’s discuss each one briefly.

 

Financial Track Record

An insurance policy is only as good as the issuing insurance company’s ability to pay its claims.

If the insurance company has financial issues, you run the risk of them not being able to fulfill their promise to you whenever you call on them to honor their obligation.

Thankfully, this is rarely an issue anymore.

At this point, life insurance is science. Due to actuarial tables, it’s virtually unheard of for an insurance company to have financial issues these days.

The vast majority of life insurance companies today are A rated with A.M. Best, and have strong balance sheets and cash reserves.

 

When The Policy Protects You

You may not be aware of this, but some burial insurance policies don’t fully protect you right away 😟.

Some policies make you wait a full two years before they will pay out a death benefit.

Let’s be clear on one thing here.

There are absolutely some health conditions where a person will be unable to obtain a policy that provides full immediate protection, but it’s uncommon.

Having said that, the overwhelming majority of applicants can qualify for a plan that fully protects them immediately.

The key thing to figure out is which insurance company(s) has underwriting that allows you to qualify for instant coverage.

Truthfully, there is no way for you to figure this out. You need an agency such as Choice Mutual to do it for you.

If your health permits full instant coverage, that should be your target goal. If isn’t possible, then you should aim for a plan that provides partial coverage during the first two years.

Only resort to a two-year waiting period policy after you have determined that full or partial coverage in the first two years isn’t an option.

Insider Tip: We cannot stress how critical it is that you allow an agency like Choice Mutual to evaluate your health to determine if you’ll be able to qualify for an immediate death benefit. Please do not assume a two-year waiting period policy is inevitable for you. Everyday, we talk to dozens of seniors who thought they would have a two year waiting period, and we got them immediate coverage.

 

The Policy Cost

This one should be obvious, but so many people disregard how important this piece of the puzzle is. It can be best summed up with one simple question.

If everything else is equal, why voluntarily pay more money to one company when another company offers it for a lower premium?

Most whole life burial insurance plans have a fairly similar cost among all the various insurers. However, someone has to be the cheapest, so why not go with them?

 

How To Find The Best Final Expense Life Insurance

Ultimately, the way you get the best burial insurance is done by comparing offers from multiple final expense life insurance companies to see which one suits you best.

Here’s the thing

Burial life insurance is not a cut and dry one size fits all thing. Your health is MAJOR factor that governs when your policy goes into effect, and what you pay.

You’ll need to enlist the services of a qualified independent final expense insurance agency. An independent agency is one that represents lots of different insurance companies.

They aren’t married to any one insurer, so they can select whichever company suits you best.

Basically, they will evaluate your entire health history, and become familiar with your goals. Then they identify which burial insurance companies view your health most favorably.

Your agent will identify all the funeral insurance companies that are most accepting of your health issues. Those are the ones that will offer you the best price and coverage that protects you the soonest.

As you can see, one call does it all when you work with an independent agency.

Here’s what you need to look for when selecting an agency to help you find a policy

  • The agency must be independent and represent no less than 10 burial insurance companies
  • They must have ample experience specifically in the burial insurance market
  • They must focus only on this type of insurance

We’re obviously biased, but we know the competition, so we don’t feel reserved about saying this.

Our carrier selection, vast experience, and commitment to serving your interests is why Choice Mutual is best suited to help you find the best burial policy.

Nevertheless, if you work with someone else, just make sure they have the three attributes listed above.

 

Two More VERY Important Factors To Consider

In the world we live in today, we can do most things on our own. We very rarely need help from anyone to do anything which is awesome.

But when it comes to final expense insurance, you cannot find your best plan on your own.

Consider these two key facts…

 

1) Burial Insurance Companies Will Not Allow You To Purchase Their Insurance Directly From Them

You read that correctly. There is not one final expense company that will sell you their insurance without you going through an agency. You must buy through an agent.

You are welcome to call any of them with your checkbook in hand, and they will all have the same response. They’ll all tell you to find an agent.

Life insurance isn’t sold in a grocery store for one simple reason. There’s way too many variables to consider. That’s why insurance is sold through agents.

So as long as you are working with an agent, make sure it’s one that is professional, knowledgeable, not pushy, and respectful (Choice Mutual 😎)

Insider Tip: The only exception to this rule pertains to guaranteed issue life insurance. Those policies are sold directly by insurers. However, all guaranteed issue policies have a two year waiting period, and they are much more expensive (can be as much as 300% more) compared to burial policies sold by agents.

 

2) There Are Dozens And Dozens Of Funeral Insurance Companies That You’ve Never Heard Of And You Need Them

In the USA there are literally thousands of life insurance companies. Of them, only a very small fraction of them advertise on TV, magazines, online, or in newspapers.

That means 99% of the life insurance companies out there, you have no clue who they are.

Why are we saying this?

We are telling you this because there is a really good chance that your best burial policy will probably be with an insurer whose name you are totally unfamiliar with.

Let’s be clear on a few things

  • These insurance companies are equally as trustworthy
  • They are very financially stable
  • Not knowing their names is not bad

Think about it like this. Why do you know the name “State Farm”? The only reason you know their name is because they have literally spent hundreds of millions of dollars advertising specifically so you know their name.

At the end of the day, your best final expense insurance plan might be with a company that you’ve heard of. But very likely, it will be with a company that you don’t know of.

Just be open to this idea because if you limit yourself only to companies that you know by name, you are dealing with a VERY small pool.

Furthermore (and this might sound hard to believe), most of the big-name companies that do advertise have the some of the worst burial insurance plans on the market.

They are very often much more expensive, they expire at a certain age, or they come with a two-year waiting period.

Again, be open to companies that you don’t know by name. It will only benefit you.

Related Posts

About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual is an independent agency licensed in all 50 states including DC. We work with over 20 highly rated final expense life insurance companies, so that we can compare offers from all of them to find you the best deal.

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6 Comments

Robert Hearin

Please call me at 5**-3**-9***, so I can talk to you about three policies for three difference people. Best wishes, Robert M. H, Jr. (Two Louisiana residents, One Florida res.). RSVP

July 11, 2017 at 10:07 pm
    Choice Mutual

    Hi Robert,

    We’ll call you shortly to help you with this.

    July 11, 2017 at 10:54 pm
gerolld burrow

need life insurance

July 4, 2018 at 5:05 pm
    Choice Mutual

    Hi Gerolld,

    Thanks for reaching out. We’ll contact you immediately to help you find the best policy for you.

    July 5, 2018 at 5:54 am
Irfan

Wow Amazing Article. Thanks for sharing us this knowledge. Your Article is really helpful for me. Thank you so much

July 26, 2018 at 1:05 am
    Choice Mutual

    Hi Irfan,

    Thanks for the flattering compliments 🙂 We’re glad you found value in this article.

    July 26, 2018 at 5:56 am
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