Best Burial Insurance Companies
- No waiting period—If approved, you’re fully covered immediately for any natural or accidental death.
- No exam coverage up to $50,000—You can buy up to $50,000 in coverage without having to take a medical exam.
- Fast approvals—Most applications are approved within 24 hours.
- Agent phone call required—To buy the no waiting period policy, you must verbally speak with an agent to apply. If you buy Mutual of Omaha life insurance for seniors through the mail or on their website, there is a two-year waiting period and a maximum coverage amount of $25,000.
- Will not mail out duplicate policies—After you get the initial policy, they will not mail you a duplicate (they will only email it). However, at any time, they will send you a policy summary with all the pertinent information.
Mutual of Omaha’s “Living Promise” policy is the best plan on the market because its prices are regularly on the lowest end of the spectrum. Also, you can qualify for up to $50,000 of no waiting period coverage even if you have common health issues such as diabetes.
Mutual of Omaha has best-in-class financial ratings and a lower-than-average number of complaints with the NAIC compared to most life insurance companies. After policies are in force, it’s remarkably simple to update your coverage, which can often be done verbally or by email. In contrast, most other companies require paper forms to be filled out, signed, and mailed back for any policy changes.
They also have the best life insurance for children if you need coverage for a minor.
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).
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.
- Up to age 89 can apply— Aetna will issue a new policy to seniors as old as 89.
- No exam & very lenient underwriting— You can get no waiting period coverage despite having a wide variety of chronic conditions such as COPD, Parkinson’s, Multiple Sclerosis, and much more.
- Discounts available— If you have certain Aetna senior products, you might qualify for a 10% discount.
- No NAIC complaints— Aetna Life Insurance Company’s subsidiary Accendo Life Insurance has no registered complaints with the National Association of Insurance Commissioners, which is incredibly rare and impressive.
- No guaranteed issue option— Aetna requires you to medically qualify for their coverage by answering health questions, which means you can be denied. They presently have no guaranteed issue life insurance options.
- Slow policy mailings— Customers often report that policies take around three weeks to arrive, which is slower than other providers.
- Long phone call hold times— Both agents who represent Aetna and their customers often complain that it can take over 15-25 minutes to speak with a representative.
Many companies offer life insurance for seniors over 80 but not over 85, which makes Aetna unique because they accept new applicants as old as 89.
Their senior burial insurance has competitive rates and will approve applicants for a no-waiting period policy despite high-risk health conditions. Also, Aetna has no weight limits, so they’re an excellent option if you’re severely overweight.
Aetna has no complaints with the NAIC, an A rating with AM Best, and an A rating with the Better Business Bureau. Over 98% of applications are approved or declined in less than 15 minutes.
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).
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.
- Excellent rates for young adults— Aflac often has some of the lowest prices for adults in their 50s. The prices are still competitive above 60.
- Strong financial strength— Aflac is a renowned, trusted brand-name company with high financial marks with all major rating agencies, such as AM Best.
- No exam and favorable underwriting— Adults with various health issues (even chronic conditions) can still obtain a policy with no waiting period.
- Low age cap— Only seniors up to age 80 are eligible.
- New to the market— Aflac has only been offering final expense insurance since 2022, which means there’s a higher chance (compared to other seasoned providers) of administrative hiccups if you need service on an existing policy.
Aflac’s funeral life insurance is a marriage of competitive premiums (particularly for younger adults) and lax underwriting. You can get no waiting period for high-risk chronic conditions like COPD, Parkinson’s disease, lupus, multiple sclerosis, and diabetes, to name a few. Like Aetna, Aflac has no build chart, so your height-to-weight ratio doesn’t influence your eligibility or cost.
Aflac has an A+ rating with AM Best and the Better Business Bureau. Additionally, they have incredibly high marks from all the major insurance company rating agencies, such as S&P and Moody’s. You can trust that they have the financial means to pay their claims.
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).
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.
- No health questions or exam— Approval is guaranteed, so you cannot be declined due to your medical history.
- Very low guaranteed acceptance prices— AAA is typically the cheapest or very close to it relative to other providers that offer coverage with no health questions.
- Highest interest— All guaranteed issue policies only refund premiums plus interest for the death during the first two years. AAA will refund 130%, whereas every other company is roughly 110%.
- Mandatory waiting period– You’re not covered for natural causes of death during the first two years.
- Limited coverage choices– You must choose from $3K, $5K, $7K, $10K, $15K, $20K, or $25K. Most burial insurance companies allow you to choose any increment you desire.
In addition to the very low prices, AAA will also pay out double the death benefit if you die from an accident, which is something no other guaranteed policy will do.
If you want to buy funeral insurance online, AAA allows for that, or you can apply by calling them.
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).
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.
- No exam and no waiting period– Applicants with health conditions like COPD, kidney disease (even dialysis), heart disease, and many more can obtain immediate coverage. Keep in mind that you must still answer health questions.
- Low coverage options– Transamerica will allow you to buy a death benefit as low as $1,000. Most funeral insurance companies have a minimum of $2,000-$5,000.
- Complicated application– The application is unusually lengthy, and it’s very difficult to make any changes after submission.
- Long telephone hold times—Getting in touch with Transamerica via telephone can often take a long time (much longer than with other providers).
Transamerica is an A-rated company that has been in business for over 100 years. Their final expense insurance is typically one of the lowest-cost policies, especially for seniors over 70.
They accept applicants who have health issues that most companies would outright deny, and they are among the few companies that will allow you to pay with a Direct Express Mastercard from Social Security.
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).
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.
