Learn how these policies work, see cost estimates, the best companies in North Carolina, and how much a typical funeral costs in North Carolina.

How Much Does Burial Insurance In North Carolina Cost?

A typical final expense policy valued at $10,000 will often cost about $50-$100 per month. Remember that the exact cost is based on your precise age, gender, tobacco usage, state of residence, health, and the amount of coverage.

That said, below are some sample final expense premiums.

Age & Gender$5,000$10,000
Female age 40$12$21
Female age 45$13$23
Female age 50$14$24
Female age 55$15$28
Female age 60$18$33
Female age 65$22$41
Female age 70$28$53
Female age 75$37$71
Female age 80$50$98
Female age 85$70$136
Female age 89$131N/A
Male age 40$14$25
Male age 45$15$27
Male age 50$17$31
Male age 55$20$36
Male age 60$23$43
Male age 65$29$54
Male age 70$37$70
Male age 75$50$97
Male age 80$69$135
Male age 85$91$178
Male age 89$180N/A
Source for monthly prices: Choice Mutual quote calculator. Rates valid as of 05/08/2024.

 

Best Funeral Insurance Companies In North Carolina

Life insurance is governed by the states rather than the federal government. For that reason, you’ll find that burial insurance options vary from state to state.

Below is a table that outlines the best final expense companies in North Carolina.

Insurance CompanyCoverage & New
Applicant Age Limits
Policy Type, Length
& Product name
Mutual of Omaha company logoCoverage:
$2,000-$50,000
Age Range:
45-85
Whole Life Insurance
Lasts forever once issued
"Living Promise"- Level
(no waiting period)
Aetna company logoCoverage:
$2,000-$50,000
Age Range:
40-89
Whole Life Insurance
Lasts forever once issued
"Accendo"- Preferred
(no waiting period)
Aflac company logoCoverage:
$5,000-$50,000
Age Range:
45-80
Whole Life Insurance
Lasts forever once issued
"Final Expense"- Preferred
(no waiting period)
Royal Neighbors of America company logoCoverage:
$7,000-$30,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"SIWL"
(no waiting period)
Foresters Financial company logoCoverage:
$5,000-$35,000
Age Range:
50-85
Whole Life Insurance
Lasts forever once issued
"PlanRight"- Preferred
(no waiting period)
Transamerica company logoCoverage:
$1,000-$50,000
Age Range:
45-85
Whole Life Insurance
Lasts forever once issued
"Immediate Solution"- Preferred
(no waiting period)
Prosperity Life Group company logoCoverage:
$5,000-$35,000
Age Range:
55-80
Whole Life Insurance
Lasts forever once issued
"New Vista"- Level
(no waiting period)
AIG company logoCoverage:
$5,000-$25,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"Guaranteed Acceptance"
(2 Yr waiting period)
Liberty Bankers Life company logoCoverage:
$3,000-$40,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"SIMPL"- Preferred
(no waiting period)
Gerber Life company logoCoverage:
$5,000-$25,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"Guaranteed Acceptance"
(2 Yr waiting period)
American Amicable company logoCoverage:
$2,500-$50,000
Age Range:
50-85
Whole Life Insurance
Lasts forever once issued
"Senior Choice"- Immediate
(no waiting period)
Baltimore Life company logoCoverage:
$2,500-$50,000
Age Range:
45-89
Whole Life Insurance
Lasts forever once issued
"iProvide"
(no waiting period)

 

How Does Final Expense Life Insurance Work?

Burial insurance is a type of small face value whole life insurance policy that does not require a medical exam to qualify. The proceeds are generally earmarked for funeral costs.

But technically, the money paid to your beneficiaries can be used for anything, including medical bills, credit card debts, or anything else.

If your beneficiaries don’t use all the funds for your final expenses, they can keep the remaining amount to use as they see fit.

Tip:
Burial insurance is also commonly referred to as funeral or final expense life insurance.

The underwriting of these policies is very lenient because the insurance companies want seniors with prior health issues to qualify.

There are two basic options- guaranteed issue and simplified issue.

Simplified issue plans require you to answer health questions, whereas guaranteed issue ones do not. Generally, simplified issue plans are the least expensive and have no waiting period.

That means the insurance company must still pay out the full death benefit if you’re approved and die right after the policy starts.

However, plans with no health questions and guaranteed approval always have a two-year waiting period before you’re fully insured.

If you die in the first 24 months, the insurer will only pay your beneficiaries 110% of your premiums.

Since senior funeral insurance plans are a type of whole life insurance, the fine print is minimal.

The price will never change, and the coverage won’t decrease or expire.

Also, they build cash value that you can borrow from any time you want.

 

How Much Does A Funeral Cost In North Carolina?

According to the NFDA, a traditional burial service in North Carolina costs about $7,800 (including a viewing and vault). A cremation service is slightly cheaper ($7,070).

Service TypeAverage Cost
Burial Service$7,800
Direct Burial (No Service)$3,585
Cremation Service$7,070
Direct Cremation (No Service)$1,914

You can save money by opting for a direct burial or cremation, meaning there are no memorial services. Funeral cost calculators are very helpful to estimate what your desired funeral may cost.

 

The Free Look Period In North Carolina And The FTC Funeral Rule

The North Carolina Department of Insurance mandates that life insurance companies include a ten-day free look period in their policies.

That provision entitles policyholders to return a policy for any reason and get a full refund (if you made any payments).

Take comfort in knowing that if you buy the wrong policy or change your mind, you can get out of it and not lose money.

Another law to be aware of is the FTC Funeral Rule. The funeral rule grants consumers the right to buy only the funeral services they want rather than having to accept a prepacked plan. Also, funeral homes must provide you with written prices upon request.

 

How Choice Mutual Can Help

Choice Mutual is a nationally licensed independent insurance agency that partners with over 15 burial insurance companies.

Our goal for each client is to help them find the best policy at the lowest price. We’ll compare plans from every provider in your state to find the best one.

Our advisory services have no fees, and the insurance isn’t more expensive.

In fact, you’ll pay much less for your insurance by working with us because we will find the company that will offer you the lowest price.

Our agents are friendly and will answer all your questions. When you’re ready to get protected, we’ll walk you through the entire application.

Call us at 1-800-644-2926, and we’ll help you find the best coverage possible.

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 are known to provide accurate information. You can learn more about our editorial standards, which guides our mission of delivering factual and impartial content.

  1. by the states. https://www.iii.org/publications/commercial-insurance/how-it-functions/regulation
  2. NFDA. https://nfda.org/news/media-center/nfda-news-releases/id/6182/2021-nfda-general-price-list-study-shows-funeral-costs-not-rising-as-fast-as-rate-of-inflation
  3. North Carolina Department of Insurance. https://www.ncdoi.gov/consumers/life-insurance/faqs-about-life-insurance
  4. FTC Funeral Rule. https://www.ftc.gov/news-events/topics/truth-advertising/funeral-rule