A burial insurance plan is a small no-exam life insurance policy that 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’s 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.
Read on or click a link below to jump to the section of the article that interests you the most.
What Is Burial Insurance, Final Expense & Funeral Insurance?
Burial insurance, also known as “final expense” 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 you may borrow from
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 the money is spent. Be it funeral-related expenses or other costs such as debts or medical bills; the money can technically be used for 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.
Burial Insurance For Seniors
Final expense insurance is typically designed for seniors 40-89. These plans were made to have lenient underwriting so seniors can still qualify despite having health issues. Premiums won’t increase and are affordable, so seniors can secure coverage to ensure their funeral costs won’t become a financial burden.
While there are plans for folks younger than 40, it’s not common.
If you are a senior who does not currently have a method to pay for your final expenses, you should consider senior burial insurance.
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 prices are determined by age, gender, health 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 at the price and/or underwriting.
Top 12 Best Final Expense & Burial Insurance Companies In The USA
Below you will see a fairly detailed breakdown of all the best final expense insurance companies. From prices to product brochures, we leave little to the imagination. They are listed in no particular order.
1) Mutual Of Omaha
First Year In Business: 1909
A.M. Best Rating: A+ (superior)
Better Business Bureau Rating: A+
Product Name: Living Promise Level Benefit
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)
Does It Pay Out Due To Accident: Yes
Are The Proceeds Taxable: No
Who Receives The Money: Anyone you want (family member, funeral home, friend, etc.)
Can You Have More Than 1 Beneficiary: Yes (You can have as many as you’d like)
Restrictions How Money Is Used: None (The money can be spent on anything)
Do Health Issues After Policy Approval Cause The Policy To Cancel: No (health issues after approval don’t matter)
Payout Exclusions In First 2 Years: Suicide or health misrepresentation
Builds Cash Value: Yes (you can borrow from)
What If You Move To Another State/Country: Policy is still good & payable (nothing changes)
State Availability: 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 Policy On Parents: Yes (their consent required)
Underwritten by one of the most well-respected life insurance companies globally, Mutual of Omaha’s “Living Promise” (that’s what they call this product) funeral expense policy might very well be the best on the market.
Their premiums are consistently among the lowest, they can accept various health issues, and most applicants can qualify for their immediate benefit plan. They also have the best life insurance for children too.
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.
Aetna actually has two separate final expense programs. One is offered through their subsidiary American Continental Life Insurance Company. The second is offered via another subsidiary company they own called Accendo Life Insurance Company.
Each plan has completely different underwriting and pricing. Both offer great rates and lenient underwriting that accepts a lot of severe health conditions.
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 burial expense life insurance probably has the most lenient underwriting out of all the top insurance companies. This is particularly true for people with diabetes. In fact, it wouldn’t be too bold to claim they are far and above the most diabetic-friendly final burial expense carrier in the nation.
They aren’t just for people with diabetes either. They can and do insure applicants of all health profiles.
Foresters Financial is another company that is a fraternal organization. They provide high-quality life insurance burial policies 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 burial ins offers competitive premiums, quick approval times and can serve up unbeatable value for a wide variety of underwriting scenarios (as shown above).
Your best funeral insurance policy may be with Foresters Financial. It just depends on your health.
Backed by an outstanding insurance company, Transamerica’s Immediate Solution funeral life insurance product is a marriage of competitive premiums and lax underwriting.
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.
Prosperity Life Group is likely not an insurance company that you know of by name. However, that does not mean they aren’t trustworthy or that their insurance isn’t worth considering.
The truth is 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. That will save you a lot of money!
They accept many very high-risk health issues, will allow you to buy life insurance for your grandparents, are available in nearly all states, and have a simple, instant decision application process.
With them, you’ll know if you are accepted in about 15 minutes.
All around, they’ve done a good job creating a price-competitive product that offers many people immediate coverage, whereas elsewhere, they would get a two-year waiting period. They may just be the best company for you.
AIG only offers what’s called 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 premiums paid.
AIG has some of the lowest premiums for guaranteed issue life coverage relative to the other companies. Additionally, they are the only company that offers two free riders on every policy.
The first is a terminal illness rider. It will allow you to access some of the death benefits if you are ever diagnosed with a terminal illness and given a life expectancy of 24 months or less.
Also, they offer a Chronic Illness rider that will allow you to access some of your death benefits should you develop a chronic illness are unable to perform your daily living activities.
Guaranteed issue burial policies are generally a last resort, but they have their place when it comes to health issues that are such a high risk you cannot qualify for a plan with underwriting.
Americo has two different burial life expense plans. 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 of this plan is that non-cigarette smoking tobacco users can qualify for non-tobacco rates.
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.
Without question, Liberty Bankers Life has one of the most unique burial policies 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 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.
All around, Liberty Bankers life can be a great fit for folks with high-risk health issues and healthy individuals. Honestly, they are a great option for just about everyone.
Gerber Life’s final expense policy is a guaranteed issue whole life policy. There are no medical questions or any life/lifestyle underwriting.
Simply put, Gerber Life will know nothing about your health. Because there are no health questions, there is a two-year waiting period, as is the case with all guaranteed acceptance plans.
It’s a competitively priced guaranteed issue policy suitable for people with very high-risk conditions such as HIV, dialysis, cancer, etc.
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.
American Amicable is not a company that appeals to a broad audience. Their funeral 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.
Also, they are one of the few companies that will offer non-tobacco rates to folks who smoke an occasional cigar or pipe.
Another exciting aspect of 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 they are an excellent choice for certain groups.
Baltimore life has a 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 payout 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.
*** Rates always 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 max-age for new applicants.
Sample Applications & Policies
Want to see what the application looks like? 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 these companies 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.
First of all, final expense insurance with no waiting period does exist. In fact, 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. Basically, 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.
If any of the conditions below apply to the person you’re trying to insure, 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 last 12 months
Full-blown stroke within the last 12 months (mini-strokes don’t count)
Diabetic coma or insulin shock within the last 24 months
Diabetic amputation within the last 24 months
Alzheimer’s or dementia
Terminal illness
Circulatory surgery within the last 12 months
Heart surgery within the last 12 months
Congestive heart failure combined with diabetes.
This is not an all-inclusive list, but these are the most common ones.
And please don’t assume you can’t get immediate coverage.
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 when they were convinced it wasn’t possible.
10 Of The Best Features Of Funeral Expense Insurance
Let’s face it; funerals 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 burial expense policy is a 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 ★
Burial insurance plans 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 burial expenses plans do have very relaxed underwriting, some health issues are such a 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, some health conditions negatively affect life expectancy that no insurer will touch via a policy with underwriting.
In these circumstances, a guaranteed issue policy is totally appropriate (and likely your only option). These plans have no health 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 ★
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 funeral insurance 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?
Policies for burial pay out cold hard cash tax-free.
★ Permanent Policy Where Nothing Changes ★
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 ★
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.
At Choice Mutual, our average approval time is 18 minutes from the moment we apply.
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 ★
Since these are whole life policies, the 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 policy for funeral expenses 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 ★
10,000 seniors per day turn 65, and many do not have enough money to cover their funeral expenses.
This is the exact reason why burial insurance life plans are 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 burial expense coverage.
This plays out very well for you, the consumer, because more competition among insurers means lower rates and many options to choose from.
Finding The Best Final Expenses Insurance Policy
So you’ve decided that you want the peace of mind that a funeral life policy can provide to ensure your family will never be left the burden of unpaid funeral expenses.
Either way, the next step is to find and secure the right policy for you.
Want to know the best part?
Finding the best burial 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 define something clearly, 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.
The policy is provided by an insurance company that has a strong and reliable financial track record.
It protects you as much as possible as soon as possible (no waiting period if achievable).
The policy costs less than what other insurance companies will charge.
Any final expense insurance plan that satisfies all three of those requirements is a plan you want to secure 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 not fulfilling 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.
Today, most life insurance companies 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 cannot obtain a full immediate protection policy, 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 it isn’t possible, 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. Every day, 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 final expense life 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 Whole Life Burial Insurance
Ultimately, the way you get the best end-of-life insurance is done by comparing offers from multiple insurance companies to see which one suits you best.
Here’s the thing
Your health is a 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 burial insurance agency. An independent agency represents lots of different insurance companies.
They aren’t married to any particular 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 life insurance companies.
They must have ample experience specifically in the insurance for final expenses 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 you cannot find your best plan on your own when it comes to burial life insurance policies.
Consider these two key facts…
1) Final Expense Insurance Companies Will Not Allow You To Purchase Their Insurance Directly From Them
You read that correctly. There is not one funeral insurance 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 are 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 they are 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. Only a tiny fraction of them advertise on TV, in magazines, online, or in newspapers.
That means 99% of the life insurance companies out there, and you have no clue who they are.
Why are we saying this?
We are telling you this because there is an excellent 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 burial 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 you know by name, you are dealing with a tiny pool.
Furthermore (and this might sound hard to believe), most of the big-name companies that advertise have some of the worst final expense plans on the market.
They are often much more expensive, expire at a certain age, or come with a two-year waiting period.
Again, be open to companies that you don’t know by name. It will only benefit you.
Why You Should Let Choice Mutual Help You
We may be biased, but it’s not without merit.
Here’s why we are unquestionably the most well-qualified agency to assist you in finding YOUR best burial expense insurance plan.
We have over 15 carriers to choose from. Being independent means, we can represent whoever we want. We aren’t married to any particular company. Our portfolio of carriers is so large that we can impartially select which one is best for you. We don’t care which company is best for you. All we care about is doing what is best for you.
Funeral life insurance is all we do. Would you rather deal with someone who is sort of familiar with the kind of insurance you need or someone who is an expert at it? Literately, we don’t do any other kind of life insurance or any other line of insurance, for that matter. If we become masters (which we are) at this kind of insurance, then and only then can we truly best help each individual who seeks our guidance.
Your interests are our #1 priority. Yes, we could place you with companies that make us more money. However, we don’t do that. We will always make sure we recommend whichever final expense insurance coverage carrier is best for you.
Still unsure?
Call us to see and friendly and helpful we are. You’ll learn very quickly why so many other people choose to work with us. Also, check out what other happy customers had to say after working with us.
If you cannot afford to pay for your funeral, a burial insurance policy is likely worth buying because 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 but your life because it’s a life insurance policy. At the end of the day, the policy will simply 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 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 diabetics: 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 meant for funeral bills, most companies pay out the benefits within 24-48 hours.
About Anthony Martin
I’m a final expense & children's life insurance expert, official member of the Forbes Finance Council, and the Founder & CEO of Choice Mutual. I have been helping clients with final expense and child life insurance since 2010 and try hard to share with you the knowledge I’ve garnered after helping thousands of clients. Choice Mutual is an independent insurance agency licensed in all 50 U.S. states including D.C. We represent over 15 different insurance carriers on your behalf so we can find which one will approve you for the best policy. I started this company so people like you could finally get honest answers & advice from friendly agents who know this business inside and out.
34 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
You have a few options to see rates. First, you can use the quote tool on this website. You will instantly see rates from all the top carriers in your states.
Second, you view some of the sample prices right here in this article.
Finally, you can speak to one of our agents. They will ask you a few questions to get you accurate quotes from a company that you will qualify with.
While all the rates you see on our website are accurate, we highly recommend you speak to an agent. Only they can figure out which carriers will approve you which will allow them to give you accurate prices. Our toll free number is 1-800-644-2926.
I’m sorry we do not currently have any Spanish speaking agents. The biggest issue is most insurance companies don’t allow the applications to be done in Spanish otherwise we would.
Hello. My daughter will be 40 in about a month. I had life ins. on her for yrs & was given some bad advice & cancelled it. Then she became ill & I can’t reinstate it or get new coverage. I need a ‘guarantee issue’ policy, or burial policy? I need one WITH NO TWO YEAR WAITING PERIOD for death benefit. Can you please help me locate? Thank you, Tracy Robinson
Very sorry to hear about your situation especially your daughter experiencing some health issues.
We can help you find a new policy on your daughter. Whether or not she will qualify for a plan that has no waiting period depends entirely on her health.
The best thing to do is call us at 1-800-644-2926 and one of our agents will help you with this.
I find it funny that you really aren't comparing an apple to an apple. You list some 8 carriers that require some medical questions in order to garner approval and only 2 that are true guaranteed acceptance policies. I think it would be more helpful if you broke it into 2 comparisons……One being for the companies that go Guaranteed Acceptance and another group that requires medical questioning. Just my view being an experience member of the insurance profession.
Thanks for the dialogue. We think you have the wrong impression about the goal of this article.
This article does not compare one company compared to another. It's not comparing Mutual of Omaha versus AIG or Foresters Financial versus Gerber.
This article simply covers the top 12 best final expense carriers. Some are guaranteed issue and some (most) are not.
As an insurance professional, you know that each client is different. For that reason, there is no one size fits all company.
One client might be best off with Mutual of Omaha or Foresters Financial. However, another client might be best off with AIG or Gerber. Which carrier is best for them depends entirely on their unique situation.
Generally speaking, someone looking for burial insurance will almost certainly find their best option with one of these 12 companies.
I only noticed quotes for people as young as 45. Is it just uncommon for people to purchase this kind of insurance in their thirties? Or is it not possible to purchase this kind of policy until you reach a certain age?
I am looking for coverage for my partner. Male, 43, non smoker, diabetic, no insulin shots. Please reach out via email and let me know about potential companies
I am 85 years old, when I leave this wonderful world, I will be cremated, . I have no insurance!
Since I am a Disabled Veteran , I qualify for a Military Burial and Cemetary, however I will need an end of life Insurance to coverage for end of life cost!
Thank you,
Oscar Legasp
First of all, thanks for your service! It’s genuinely appreciated.
We can definitely help you get coverage even though you’re 85. Please call us and one of our friendly agents will help you find the best plan at the best price.
34 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
Choice Mutual
Hi Robert,
We’ll call you shortly to help you with this.
gerolld burrow
need life insurance
Choice Mutual
Hi Gerolld,
Thanks for reaching out. We’ll contact you immediately to help you find the best policy for you.
Irfan
Wow Amazing Article. Thanks for sharing us this knowledge. Your Article is really helpful for me. Thank you so much
Choice Mutual
Hi Irfan,
Thanks for the flattering compliments 🙂 We’re glad you found value in this article.
Earl Davis
I want know how much insurance
Choice Mutual
Hi Earl,
You have a few options to see rates. First, you can use the quote tool on this website. You will instantly see rates from all the top carriers in your states.
Second, you view some of the sample prices right here in this article.
Finally, you can speak to one of our agents. They will ask you a few questions to get you accurate quotes from a company that you will qualify with.
While all the rates you see on our website are accurate, we highly recommend you speak to an agent. Only they can figure out which carriers will approve you which will allow them to give you accurate prices. Our toll free number is 1-800-644-2926.
Thanks,
Cindy Strole
Would like a call back
Choice Mutual
Hi Cindy,
We’ll be in touch!
Miriam Mejia
Do you have Spanish speaking agents my mother is interested In getting burial insurance
Choice Mutual
Hi Miriam,
I’m sorry we do not currently have any Spanish speaking agents. The biggest issue is most insurance companies don’t allow the applications to be done in Spanish otherwise we would.
Sorry we couldn’t help you out 🙁
Elaine
I want to know a life insurance for my mom.
Anthony Martin
Hi Elaine,
We can definitely help you find coverage for your mom.
Call us at 1-800-644-2926 and one of our agents will ask you a few questions to figure out which insurance company would be best for your mom.
Tracy Robinson
Hello. My daughter will be 40 in about a month. I had life ins. on her for yrs & was given some bad advice & cancelled it. Then she became ill & I can’t reinstate it or get new coverage. I need a ‘guarantee issue’ policy, or burial policy? I need one WITH NO TWO YEAR WAITING PERIOD for death benefit. Can you please help me locate? Thank you, Tracy Robinson
Anthony Martin
Hi Tracy,
Very sorry to hear about your situation especially your daughter experiencing some health issues.
We can help you find a new policy on your daughter. Whether or not she will qualify for a plan that has no waiting period depends entirely on her health.
The best thing to do is call us at 1-800-644-2926 and one of our agents will help you with this.
yuvraj
very informative about the policies
Anthony Martin
Thanks! Glad you found the content helpful.
Larry Riggle
Looking for low-cost insurance
Anthony Martin
Hi Larry,
We can help with that. Call us at 1-800-644-2926 and one of our agents will find which company is the cheapest for you.
Sharon
What's the best company for cremation?
Anthony Martin
Hi Sharon,
To find which company is best for a cremation, you'll need to consult with local funeral homes to figure that out.
What we do here at Choice Mutual is offer insurance plans to cover the expenses of a cremation (and other final expenses).
Unfortunately, there is no way we could tell you which funeral home in your area is the best.
Hope this helps.
Josue Huertas
Great post! I work with all these carrier and the one always with the lowest rate is Moo. Great company to work with!
Anthony Martin
Thanks Josue we appreciate the compliment. You're right; Mutual of Omaha is a great company to work with!
Greg
I find it funny that you really aren't comparing an apple to an apple. You list some 8 carriers that require some medical questions in order to garner approval and only 2 that are true guaranteed acceptance policies. I think it would be more helpful if you broke it into 2 comparisons……One being for the companies that go Guaranteed Acceptance and another group that requires medical questioning. Just my view being an experience member of the insurance profession.
Anthony Martin
Hey Greg,
Thanks for the dialogue. We think you have the wrong impression about the goal of this article.
This article does not compare one company compared to another. It's not comparing Mutual of Omaha versus AIG or Foresters Financial versus Gerber.
This article simply covers the top 12 best final expense carriers. Some are guaranteed issue and some (most) are not.
As an insurance professional, you know that each client is different. For that reason, there is no one size fits all company.
One client might be best off with Mutual of Omaha or Foresters Financial. However, another client might be best off with AIG or Gerber. Which carrier is best for them depends entirely on their unique situation.
Generally speaking, someone looking for burial insurance will almost certainly find their best option with one of these 12 companies.
Hope this clears up the intent of this article.
Leonard McCormick
Well, it’s time. Looking for a great final insurance company, could you please send me some info, I am 70 years old.
Anthony Martin
Hi Leonard,
What information are you looking for? This page you commented on has more information on it that anything you could ever receive via mail.
That said, let us know what information you’re looking for and we’ll get it to you.
Ashley
Hello,
I only noticed quotes for people as young as 45. Is it just uncommon for people to purchase this kind of insurance in their thirties? Or is it not possible to purchase this kind of policy until you reach a certain age?
Thanks,
Ashley
Anthony Martin
Hi Ashely,
We don’t show the prices on the page for folks under 45 because it’s just so uncommon as you guessed.
That said, coverage is available as young as age 1 🙂
Maria Roberson
I am looking for coverage for my partner. Male, 43, non smoker, diabetic, no insulin shots. Please reach out via email and let me know about potential companies
Anthony Martin
Hi Maria,
We have companies that would approve your partner given what you said.
Call us at 1-800-644-2926 and one of our agents will assist you.
Oscar Legaspi
I am 85 years old, when I leave this wonderful world, I will be cremated, . I have no insurance!
Since I am a Disabled Veteran , I qualify for a Military Burial and Cemetary, however I will need an end of life Insurance to coverage for end of life cost!
Thank you,
Oscar Legasp
Anthony Martin
Hi Oscar,
First of all, thanks for your service! It’s genuinely appreciated.
We can definitely help you get coverage even though you’re 85. Please call us and one of our friendly agents will help you find the best plan at the best price.
Our toll free number is 1-800-644-2926.