Overall Score

Choice Mutual’s ratings are determined by a review formula that weights the following four factors to determine a score between 0 and 5:

Factor Score Value
Price of Coverage
40%
No-Waiting-Period CoverageNo Waiting Period
20%
Financial Strength
20%
NAIC Complaint Index
20%
Overall Maximum
100%

Our ratings are tested with scoring model 1.1, a review formula that ensures consistency and accuracy in our assessments.

3.75 out of 5
5.0
Price of Coverage
Price of Coverage
40% of overall score

Using this quote calculator, we compare the price of the insurer’s coverage to competitors with equivalent products. The score they receive is based on how close their price is to those three least expensive providers:

  • 50-5% more expensive
  • 46-10% more expensive
  • 311-20% more expensive
  • 221-30% more expensive
  • 1≥ 40% more expensive
4.0
No-Waiting-Period CoverageNo Waiting Period
No-Waiting-Period Coverage
20% of overall score

This scoring factor assesses whether an insurer offers coverage with no waiting period and, if so, how difficult it is to qualify for it. If an insurer does not provide coverage with no waiting period, it gets an automatic 1. A score from 2 to 5 indicates that immediate coverage is possible, and the higher the rating, the easier it is for the average applicant to qualify for it.

  • 5Most applicants qualify
  • 4Fairly easy qualification
  • 3Somewhat difficult qualification
  • 2Very difficult qualification
  • 1No-waiting-period coverage unavailable
5.0
Financial Strength
Financial Strength
20% of overall score

Our financial strength scores are based on A.M. Best’s Financial Strength Ratings (FSR), which measure an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores they receive are based on the following scale:

  • 5Superior (A+ or A++)
  • 4Excellent (A- to A)
  • 3Fair/Good (B- to B++)
  • 2Weak/Marginal (C- to C++)
  • 1Poor (D or Not Rated)
1.0
NAIC Complaint Index
NAIC Complaint Index
20% of overall score

The NAIC (National Association of Insurance Commissioners) complaint index measures how frequently an insurer obtains consumer complaints relative to a median score across all insurers. Our scoring model is based on an insurer’s NAIC complaint index for the most recently available year and for ‘Individual Life’ products:

  • 50.0 - 1.0 (avg or below avg complaints)
  • 41.01 - 1.5 (slightly above avg complaints)
  • 31.51 - 2.0 (up to 2x avg complaints)
  • 22.01 - 3.0 (up to 3x avg complaints)
  • 1≥ 3.01 (more than 3x avg complaints)
Aflac’s final expense insurance is one of the best policies in the nation because the premiums are competitive, and most applicants can qualify for no waiting period coverage for natural causes of death.
Pros

  • There are no medical exams, and prices are fair relative to other companies.
  • Applications are typically approved in less than five minutes.
  • Seniors with serious illnesses such as COPD, Afib, and diabetes are still eligible for immediate coverage.

Cons

  • You must verbally speak with a licensed agent to purchase a policy.
  • Some companies, such as Mutual of Omaha Living Promise, have lower prices.
  • There are no multi-policy discounts if you have other Aflac insurance products.

A+
Superior
Aa3
Stable
A+
Stable

AM Best’s Financial Strength Rating (FSR) is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores range from A++ to D-.

Moody’s Investors Service rates the creditworthiness of companies. The Moody’s Rating Scale has 21 possible scores ranging from “Aaa” (highest mark) down to “C” (lowest mark).

S&P Global Inc. issues credit ratings on a scale from “AAA” (highest rating) to “D” (lowest rating).

Customer Review Ratings
BBB
1.11/5
268 reviews
1.4/5
82 reviews
3.6/5
126 reviews
Yelp
0/5
0 reviews
0/5
0 reviews
Consumer Protection Organization Scores

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.

The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB seeks and uses information directly from businesses and from public data sources. BBB assigns ratings from A+ (highest) to F (lowest). If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.

Policy Type
Whole Life
New Applicant Age Range
45-80
Death Benefit Options
$2,000-$50,000
States Where Available
All except New York
Builds Cash Value
Yes
Has Health Questions
Yes
2-Year Waiting Period
No
Medical Exam Required
No
Age When Policy Expires
Never
Prices Increase
Never
Terminall Illness Rider
Yes
Policy Type
Whole Life
New Applicant Age Range
45-80
Death Benefit Options
$2,000-$50,000
States Where Available
All except New York
Builds Cash Value
Yes
Has Health Questions
Yes
2-Year Waiting Period
No
Medical Exam Required
No
Age When Policy Expires
Never
Prices Increase
Never
Terminall Illness Rider
Yes
Policy Type
Whole Life
New Applicant Age Range
45-75
Death Benefit Options
$2,000-$25,000
States Where Available
All except New York
Builds Cash Value
Yes
Has Health Questions
Yes
2-Year Waiting Period
Yes
Medical Exam Required
No
Age When Policy Expires
Never
Prices Increase
Never
Known for its famous duck, Aflac is a large insurer offering diverse insurance products, including life, accident, pet, dental, and health policies. They offer products to individuals and businesses.

With an A+ rating with A.M. Best, they are a financially sound company that can reliably pay their claims when called upon.

Founding Year
1955
Official Website
www.aflac.com
Headquarters
1932 Wynnton Rd Columbus, GA 31999
Phone Number
800-992-3522

 

How Does Aflac Final Expense Insurance Work?

Aflac burial insurance is a no-medical exam whole life policy that quickly pays a tax-free cash benefit to cover all your final expenses like funeral costs, medical bills, financial debts, or anything else. Also, your beneficiaries get to keep any leftover money.

While there is no exam, you do have to answer health questions to qualify. Additionally, Aflac will electronically review your medication history, giving them a clear picture of your health history. There is no waiting period if you’re approved for the preferred or standard benefit.

It’s a whole life policy, which means the coverage lasts your entire life, the price won’t increase, and the death benefit won’t decrease.

 

How Much Does Aflac Burial Insurance Cost?

Below is a whole life rate table outlining the cost of Aflac’s final expense insurance. Keep in mind that the exact cost of a burial policy will depend on your precise age, gender, state of residence, tobacco habits, health, and coverage amount.

Age & Gender$5,000$10,000$25,000
Female age 45$15$25$57
Male age 45$17$30$68
Female age 50$16$27$61
Male age 50$19$34$77
Female age 55$17$29$67
Male age 55$21$38$89
Female age 60$19$35$80
Male age 60$25$45$107
Female age 65$24$44$104
Male age 65$30$56$133
Female age 70$30$56$134
Male age 70$38$72$174
Female age 75$43$82$199
Male age 75$52$100$244
Female age 80$60$116$284
Male age 80$80$156$384
Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating, rounded to the nearest dollar, and are valid as of 08/01/2024.

 

Should You Buy Aflac Final Expense Life Insurance?

Given the competitive premiums and lax underwriting, Aflac burial insurance is one of the top plans in the nation if you qualify for the preferred or standard rating. The modified plan is priced too high and is not worth buying.

Remember, companies that sell burial insurance for seniors compete with one another via the insurance price and underwriting (what health issues they do and don’t accept). So, while Aflac is an excellent option if you qualify, you might be better off with another company, depending on your health issues.

For example, if you have asthma, a Mutual of Omaha final expense policy would be a superior option because it would have a much lower price than Aflac.

That’s why it’s critically important to compare multiple providers before deciding.

 

Frequently Asked Questions

Aflac funeral insurance is one of the best final expense insurance plans in the nation because the underwriting will approve most applicants for immediate coverage (no waiting period), and the premiums are often lower than most other providers. Other companies such as Mutual of Omaha or Aetna are also great options on par with Aflac.

Aflac final expense life insurance has no waiting period if you qualify for the preferred or standard death benefit. However, if you only qualify for the modified benefit due to a recent severe health issue, there will be a two-year waiting period.

To buy Aflac burial insurance, call 1-800-644-2926 to speak with a licensed agent authorized to sell this particular policy. Aflac does not have an internal sales department, and it cannot be bought online. Aflac’s final expense whole life insurance is exclusively sold through specific licensed agencies.

Aflac funeral insurance quickly pays out a tax-free cash benefit to your beneficiaries, which can be used to cover funeral expenses, medical bills, financial debts, or anything else.