In this article, you’ll learn how much a $15,000 policy will cost, what types of coverage you can get, and the best companies that offer the lowest prices.
$15,000 Life Insurance Policy Options
For a $15,000 life insurance policy, final expense whole life insurance is your only option. No life insurance companies offer term life or universal life insurance with a death benefit of $15,000
Final expense whole life insurance is also frequently referred to as “burial insurance,” “funeral insurance,” “end-of-life insurance,” or “cremation insurance.”
Regardless of which label is used, the meaning is the same.
Final expense insurance does not require a medical exam. You usually only need to complete a brief health questionnaire.
Alternatively, some final expense policies have no health questions and guaranteed approval. However, plans without health questions cost more and have a two-year waiting period.
If you die during the waiting period, the insurance company will only refund your premiums plus a small amount of interest.
Whole life insurance is permanent lifelong coverage. In addition, it builds cash value, has fixed premiums, and the death benefit won’t decrease.
As is the case with all forms of life insurance, the net result is a tax-free cash payout to your loved ones. They can spend the money with absolutely no restrictions.
How Much Does A $15,000 Life Insurance Policy Cost?
A $15,000 whole life insurance policy will usually cost between $15-$250 per month, depending on your insurability factors.
The cost of whole life burial insurance is based on your exact age, health, gender, tobacco usage history, and the amount of coverage you buy.
The whole life rates chart below has some monthly price estimates for $15,000 in life coverage.
| Age | Female Non Tobacco | Male Non Tobacco | Female Tobacco | Male Tobacco |
|---|---|---|---|---|
| 40-49 | $27-$24 | $34-$43 | $33-$44 | $47-$56 |
| 50-59 | $34-$45 | $43-$61 | $45-$63 | $55-$83 |
| 60-69 | $47-$74 | $63-$98 | $66-$104 | $87-$140 |
| 70-79 | $77-$137 | $102-$188 | $106-$184 | $146-$255 |
| 80-85 | $144-$195 | $199-$279 | $190-$286 | $271-$385 |
| 86-89 | $255-$411 | $352-$534 | $383-$573 | $588-$856 |
Best Final Expense Whole Life Insurance Companies
One of these companies is likely your best option if you need a 15000 life insurance policy to cover cremation costs, burial expenses, or anything else.
Remember, no single insurance company can be the best option for everyone.
That’s why it’s essential to compare various providers side by side to ensure you’re finding the best final expense plan for you and your family.
1 ) Mutual of Omaha
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Mutual of Omaha offers the best funeral insurance for seniors.
Living Promise whole life insurance from Mutual of Omaha has very low prices, and the underwriting is very lenient. Seniors with health issues like diabetes and high blood pressure will still qualify.
Applicants are typically approved in less than 24 hours.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 45-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $2,000-$50,000 | |
| States Available: All States (except New York) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness or is under nursing home confinement. | |
| Optional Riders: Accidental Death (2X the payout for accidental death) | |
| Application Details | Where to Apply: Agencies licensed to sell Mutual of Omaha products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 10 Minutes to 2 Business Days | |
Common health conditions still eligible for no waiting period coverage: Aneurysm Arthritis Asthma Blindness Blood clots > 2 years ago Blood thinners Cancer > 4 years ago Circulatory surgery > 2 years ago Crohn’s disease Depression Diabetes (type 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis A or B High blood pressure High cholesterol Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 2 years ago Tumors (non-cancerous) |
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2) Aetna
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Aetna is likely your best option if you need $15,000 of life insurance for seniors over 80.
They will accept applicants as old as 89.
Also, if you want more than $15K, they offer up to $50,000 in whole life insurance to younger applicants.
Aetna’s senior products were built to accept applicants with chronic illnesses like COPD.
So if you’re not in the best of health, Aetna Life Insurance Company is a great option to consider.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 40-89 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $2,000-$50,000 (varies by age) |
|
| States Available: All States (except New York) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness that is expected to cause death within 12 months. | |
| Optional Riders: Accidental Death (2X the payout for accidental death) |
|
| Application Details | Where to Apply: Agencies licensed to sell Aetna products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 15 Minutes-3 Business Days | |
Common conditions still eligible for no waiting period coverage: Afib Aneurysm (if surgically repaired) Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 2 years ago Chronic bronchitis Circulatory surgery > 2 years ago COPD Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic coma > 2 years ago Diverticulitis Epilepsy Fibromyalgia Graves’ disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis > 2 years ago High blood pressure High cholesterol Insulin shock > 2 years ago Lupus Multiple sclerosis Obesity Over 85 life insurance Pacemaker (installed > 1 year ago) Parkinson’s disease Sarcoidosis Schizophrenia Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors (noncancerous) |
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3) Transamerica
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Transamerica has some of the cheapest whole life insurance for seniors over 70.
They also accept seniors with severe illnesses like kidney disease, COPD, and diabetes, to name a few.
Generally, applications are approved within 15 minutes.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 45-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $1,000-$50,000 (varies by age) | |
| States Available: All States | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness that is expected to cause death within 12 months. | |
| Optional Riders: Accidental Death (2X the payout for accidental death) | |
| Application Details | Where to Apply: Agencies licensed to sell Transamerica products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 15 Minutes- 5 Business Days | |
Common conditions still eligible for no waiting period coverage: Afib Angina (chest pains) Aneurysm (if surgically repaired) Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 4 years ago Chronic bronchitis Circulatory surgery > 1 year ago COPD Crohn’s disease Depression Diabetes (type 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis High blood pressure High cholesterol Kidney disease Lupus Multiple sclerosis Pacemaker (installed > 1 year ago) Parkinson’s disease Schizophrenia Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors |
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4) Royal Neighbors of America
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Relative to other insurance companies, Royal Neighbors has the laxest underwriting.
For example, no company is better at insuring diabetics than Royal Neighbors.
Regardless of age or health, they are a great company offering competitive rates.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 50-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $5,000-$40,000 | |
| States Available: All States (except AK, AL, HI, LA, MA, NH, NY) |
|
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Optional Riders: None | |
| Application Details | Where to Apply: Agencies licensed to sell Royal Neighbors products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 10 Minutes | |
Common conditions still eligible for no waiting period coverage: Afib Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 5 years ago Circulatory surgery > 2 years ago COPD Crohn’s disease Depression Diabetes (type 1 or 2) Diverticulitis Emphysema Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis B or C High blood pressure High cholesterol Multiple Sclerosis Pacemaker (installed > 2 years ago) Parkinson's Schizophrenia Scleroderma Severely overweight Sleep apnea Tumors |
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5) Foresters Financial
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Foresters Financial approves applications quickly (generally less than 20 mins) and has some of the lowest prices.
They also offer all policyholders free member benefits.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 50-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $5,000-$35,000 (varies by age) |
|
| States Available: All States (except New York) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Optional Riders: Accidental Death (2X the payout for accidental death) |
|
| Application Details | Where to Apply: Agencies licensed to sell Foresters Financial products (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 10 Minutes | |
Common conditions still eligible for no waiting period coverage: Afib Aneurysm Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 3 years ago Chronic bronchitis Circulatory surgery > 1 year ago Cirrhosis COPD Crohn’s disease Depression Diabetes (type 1 or 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis High blood pressure High cholesterol Insulin shock > 2 years ago Kidney disease (no dialysis) Lupus Multiple sclerosis Pacemaker (installed > 1 year ago) Parkinson’s disease Schizophrenia Scleroderma Seizures Sickle cell anemia Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors |
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Tips To Finding The Best $15,000 Final Expense Insurance Policy
Whether you need life insurance for a parent or yourself, there are some simple steps you can take to ensure you find the best deal.
First, avoid buying guaranteed issue coverage as your first option.
Guaranteed life insurance is more expensive and has a two-year waiting period.
Most people simply do not need to resort to this type of policy.
Second, always work with independent agencies that can freely compare multiple insurers on your behalf.
Independent agents partner with multiple insurance providers rather than just one.
They work for you rather than the insurance companies. They aim to investigate multiple policies to find which one is best for you.
Contrast this to working with a “captive insurer” that only allows its agents to represent just them.
For example, State Farm is one such example. State Farm agents cannot offer you any other insurance company.
If their offer is not suitable for you, they have no recourse.
In contrast, an independent agent will match you with another company that will make you a better offer.
If you need life insurance for a senior or young adult, call us at 1-800-644-2926.
Choice Mutual is an independent agency that partners with nearly 20 different insurance companies.
We’ll find you the best policy whether you need $15,000, $25,000, or even $100,000 in coverage.
Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.
- member benefits. https://www.foresters.com/en/foresters-difference
