How Much Does Burial Insurance Cost In 2023?

In this article, you’ll see burial insurance quotes online for ages 40-89.

Additionally, we’ll explain the different policy options (including the cost) and how you can find the best price.

40-49 Burial Insurance Rates

50-59 Burial Insurance Rates

60-69 Burial Insurance Rates

70-79 Burial Insurance Rates

80-90 Burial Insurance Rates

Final Expense Insurance Cost By Policy Type

The price of a final expense policy is heavily influenced by the type of life insurance you purchase.

For example, a term life insurance policy will always cost less than a whole life insurance plan.

As another example, policies with health questions generally cost less than ones without.

Below you can see some funeral insurance prices based on policy types from various final expense insurance companies.

Insurance Company	Monthly Cost Estimates Female Non Tobacco User $10,000 Coverage	Monthly Cost Estimates Male Non Tobacco User $10,000 Coverage	Coverage & New Applicant Age Limits	Policy Type, Length & Product name
	$24.31 @ Age 50 $32.87 @ Age 60 $53.24 @ Age 70 $98.43 @ Age 80	$30.68 @ Age 50 $43.76 @ Age 60 $74.61 @ Age 70 $139.73 @ Age 80	Coverage: $2,000-$40,000 Age Range: 45-85	Whole Life Insurance Lasts forever once issued "Living Promise"- Level (no waiting period)
	$27.30 @ Age 50 $40.51 @ Age 60 $58.19 @ Age 70 $101.41 @ Age 80	$34.39 @ Age 50 $51.10 @ Age 60 $73.15 @ Age 70 $140.26 @ Age 80	Coverage: $2,000-$50,000 Age Range: 40-89	Whole Life Insurance Lasts forever once issued "Accendo"- Preferred (no waiting period)
	$35.45 @ Age 50 $39.95 @ Age 60 $58.25 @ Age 70 $118.35 @ Age 80	$41.35 @ Age 50 $51.85 @ Age 60 $77.75 @ Age 70 $160.05 @ Age 80	Coverage: $7,000-$30,000 Age Range: 50-80	Whole Life Insurance Lasts forever once issued "SIWL" (no waiting period)
	$26.05 @ Age 50 $37.22 @ Age 60 $54.63 @ Age 70 $122.10 @ Age 80	$32.00 @ Age 50 $47.06 @ Age 60 $74.53 @ Age 70 $151.35 @ Age 80	Coverage: $5,000-$35,000 Age Range: 50-85	Whole Life Insurance Lasts forever once issued "PlanRight"- Preferred (no waiting period)
	$24.23 @ Age 50 $32.71 @ Age 60 $52.88 @ Age 70 $101.26 @ Age 80	$30.55 @ Age 50 $43.49 @ Age 60 $69.78 @ Age 70 $136.34 @ Age 80	Coverage: $1,000-$50,000 Age Range: 45-85	Whole Life Insurance Lasts forever once issued "Immediate Solution"- Preferred (no waiting period)
	$29.15 @ Age 50 $35.88 @ Age 60 $59.13 @ Age 70 $98.30 @ Age 80	$34.52 @ Age 50 $45.77 @ Age 60 $79.58 @ Age 70 $147.96 @ Age 80	Coverage: $1,500-$35,000 Age Range: 50-80	Whole Life Insurance Lasts forever once issued "New Vista"- Level (no waiting period)
	$38.58 @ Age 50 $53.93 @ Age 60 $80.41 @ Age 70 $189.53 @ Age 80	$55.99 @ Age 50 $68.14 @ Age 60 $106.00 @ Age 70 $206.32 @ Age 80	Coverage: $5,000-$25,000 Age Range: 50-80	Whole Life Insurance Lasts forever once issued "Guaranteed Acceptance" (2 Yr waiting period)
	$34.08 @ Age 50 $41.34 @ Age 60 $65.60 @ Age 70 $135.12 @ Age 80	$39.97 @ Age 50 $52.16 @ Age 60 $86.49 @ Age 70 $172.93 @ Age 80	Coverage: $5,000-$40,000 Age Range: 40-85	Whole Life Insurance Lasts forever once issued "Eagle Premier"- Level (no waiting period)
	$25.57 @ Age 50 $34.67 @ Age 60 $54.79 @ Age 70 $109.16 @ Age 80	$30.51 @ Age 50 $45.80 @ Age 60 $73.31 @ Age 70 $146.80 @ Age 80	Coverage: $3,000-$40,000 Age Range: 50-80	Whole Life Insurance Lasts forever once issued "SIMPL"- Preferred (no waiting period)
	$34.47 @ Age 50 $51.06 @ Age 60 $75.53 @ Age 70 $176.37 @ Age 80	$44.09 @ Age 50 $63.89 @ Age 60 $99.18 @ Age 70 $247.32 @ Age 80	Coverage: $5,000-$25,000 Age Range: 50-80	Whole Life Insurance Lasts forever once issued "Guaranteed Acceptance" (2 Yr waiting period)
	$26.67 @ Age 50 $38.27 @ Age 60 $60.39 @ Age 70 $113.69 @ Age 80	$31.65 @ Age 50 $47.06 @ Age 60 $78.80 @ Age 70 $155.83 @ Age 80	Coverage: $2,500-$50,000 Age Range: 50-85	Whole Life Insurance Lasts forever once issued "Senior Choice"- Immediate (no waiting period)
	$31.41 @ Age 50 $42.66 @ Age 60 $66.06 @ Age 70 $125.11 @ Age 80	$37.08 @ Age 50 $53.01 @ Age 60 $83.88 @ Age 70 $156.06 @ Age 80	Coverage: $2,500-$25,000 Age Range: 50-80	Whole Life Insurance Lasts forever once issued "Silver Guard I" (no waiting period)

What About Very Low Prices Seen On TV For $9.95 Or Pennies Per Day?

Companies who advertise on TV or via mail highlight teaser rates that aren’t remotely close to what most people pay.

In those advertisements, the premiums you see are often calculated by quoting a young, healthy person seeking $1,000 or $2,000 in coverage.

Remember that any time you see companies say things such as “Starting at $10 per month” or “Coverage for just pennies per day,” don’t take those claims literally.

Some companies might even advertise free burial insurance for seniors (which doesn’t exist).

The actual cost of a burial insurance policy will significantly differ from the prices you hear about in advertisements.

For example, the 995 plan from Colonial Penn provides just $1,000 in coverage for a 70-year-old female.

Their ads give the impression that you’ll get $10,000 in coverage for $9.95.

As you can see from a Colonial Penn rate chart, that is far from the truth.

How Insurance Companies Determine The Cost Of Final Expense Life Insurance

To answer, how much does final expense insurance cost? It’s helpful to understand how insurance companies determine the price for each person.

A few different variables determine the cost of a funeral insurance policy.

Your price will not be the same as someone else (unless they are nearly identical to you).

Gender

Being male or female is one of the most influential factors determining the net cost. Men will always pay more than women for life insurance products because, on average, men don’t live as long as women.

The only exception to this rule will be if you live in Montana. Due to Montana state regulations, life insurance companies cannot charge men and women different rates.

Age

First of all, since burial insurance is life insurance, your age heavily influences the price.

The older you are, the more your end-of-life policy will cost you.

Almost every life insurance company will have a set life insurance rates for each specific age. For example, they will have a price for age 51, age 52, then age 53, and it keeps going.

At the same time, some companies set the pricing according to an age bracket.

That’s where a final expense insurance company charges the same premium for anyone within a specific age range.

For example, they will set one price for anyone aged 50-55 or age 75-80.

It’s not common, but it does happen. AARP funeral insurance is one such company that prices coverage that way.

Learn more about life insurance for seniors:

• Over the age of 80
• Over the age of 70
• Over the age of 60
• Over the age of 50

Type of policy

There are two main types of burial insurance- simplified issue and guaranteed issue.

Guaranteed issue life insurance products have no health or lifestyle underwriting. There are no health questions, and you cannot be denied because of previous health conditions.

Because your approval is assured, there is always a two-year waiting period. Death during the first 24 months will mean that your beneficiaries only get a refund of your premiums plus interest (often 10%).

Now, plans with health questions (simplified issue) are ones that you qualify for based on your health. You can be declined or approved for a program with partial coverage, full coverage, or a waiting period.

From a cost perspective, guaranteed acceptance plans are priced only using your age, gender, and how much coverage you buy.

However, simplified issue plans factor into your health to determine the cost.

Health (if seeking a no-waiting period plan)

Most companies selling burial insurance with no waiting period have their product broken down into one to three health classifications.

Each health rating carries a different price structure. An insurance company’s best health rating will cost the least.

Their middle-tier rating will be more expensive, and their last one will be the most costly.

Here’s a breakdown of the common names used to describe the various health ratings from different burial insurance companies:

• “Level” or “Preferred”: These words always refer to the least risky health rating. Plans with these names will have the lowest possible cost and no waiting period. Generally, you’ll need to be in moderate to good health to qualify for this type of plan.

• “Graded” or “Standard”: These words usually refer to the middle tier rating. Typically, you would have to answer yes to at least one question on an application for a carrier to offer this type of plan to you. It will cost a bit more than their best health rating. Also, it may or may not have a waiting period (each insurance company).

• “Modified” or “Basic”: These words always refer to the riskiest health rating possible. You would need to have some severe health issues for an insurer to offer this type of plan to you. Not only will this plan cost the most, but it will always come with a two-year waiting period.

It’s also helpful to remember that your health will dictate how much coverage you can buy from any given company.

Let’s use Mutual of Omaha as a real-life example. They have two different health ratings.

For their Living Promise final expense policy, here are the coverage amounts available at each of Mutual of Omaha’s health ratings:

• Level: $2,000 – $40,000
• Graded: $2,000 – $20,000

Virtually every burial insurance carrier will have similar rules about how much coverage they offer for each of their health ratings.

Tobacco usage

Each insurance company will have one price for non-tobacco users and a higher price for tobacco users.

Cigarettes significantly reduce life expectancy, so smokers always pay more for life insurance products.

Believe it or not, certain companies will offer you a non-tobacco rating if you chew, smoke a pipe, smoke e-cigarettes, or smoke cigars.

However, you will get tobacco pricing if you have smoked cigarettes in the last 12 months.

Amount of coverage you select

All your other factors (gender, age, tobacco usage, health) will ultimately determine your final expense insurance premium per $1,000 in coverage.

After determining that number, you multiply it by the death benefit amount you want.

For example, let’s say your cost per $1,000 comes out to be $4.43 per month. If you want $10,000 in coverage, that will carry a monthly premium of $44.30 per month (4.43 x 10).

It’s all proportional too. A $25,000 whole life burial policy will cost about 2.5 times what a $10k policy would.

The bottom line is that the more coverage you buy, the higher the price.

Typical Funeral Expenses To Consider

According to the National Funeral Directors Association (NFDA), some of the common funeral expenses they’ll need to pay may include:

• Cemetery plot ($2,000)
• Metal casket ($2,500)
• Funeral home services ($2,300)
• Embalming ($775)
• Grave markers or headstones ($1,000)
• Vault ($1,572)
• Body transportation ($350)
• Memorial services ($450)
• Viewing ($450)
• Opening and closing of the grave ($1,000)
• Flowers ($100)
• Cremation service ($2,300)
• Urn ($295)

Additionally, there may be other end-of-life expenses to pay for outside of the funeral costs, such as:

• Mortgage
• Credit card debt
• Other outstanding debts
• Attorney fees
• Medical bills
• Automobile loan
• Other unsecured debt

When setting up your policy, you should consider all these variables to know you have enough coverage to pay for burial expenses.

The median cost of a funeral is roughly $10,000. Cremation costs are typically about $7,000.

Unless you have an extravagant funeral, you won’t need a policy for $50,000 or $100,000 to cover those expenses.

$10,000-$20,000 should suffice.

It’s also helpful to consult a funeral cost calculator to estimate your burial costs accurately.

How Does Final Expense Insurance Work?

Burial insurance is a type of no medical exam whole life insurance policy.

It’s permanent life insurance coverage to ensure your funeral arrangements are paid for when you die.

While the proceeds are usually intended for the cost of funeral services, your beneficiaries can spend the payout money on anything.

Read more about burial insurance vs. life insurance.

It’s important to note that burial insurance is frequently referred to as “final expense insurance” and “funeral insurance.” All three labels mean the same thing.

Because burial policies for seniors are whole life insurance, the following statements thoroughly explain how they work:

• Fixed monthly payments for life
• Policy can’t expire at any age
• The death benefit is guaranteed never to decrease
• Builds cash value that you can borrow from and use as you desire

The most unique and valuable feature of final life expense insurance is that seniors with virtually any health issue can qualify.

You will not be declined due to common health issues like diabetes or high blood pressure.

Another unique feature is the low coverage options. You can buy as little as $1,000 in coverage with some companies. However, most providers seem to have a minimum of $2,000 or $5,000.

Once the insured passes away, the insurance company will pay out the total death benefit tax-free to the beneficiary(s). That gives your loved ones (or funeral home) the money to pay for final expenses instead of enduring a financial burden that will likely put them into debt.

If any money is left over, it belongs to your family members to use in any way they desire.

Funeral insurance policies will never require you to undergo an exam or provide your medical records as part of the application.

You will only have to answer some questions about your health.

Some policies have no health questions because your acceptance is guaranteed.

How Choice Mutual Can Find YouThe Best Price On Your Funeral Insurance

Firstly, it’s helpful to remember that most insurance companies won’t allow you to buy final expense insurance online without talking with an agent.

Nearly all of them only sell their coverage via licensed agencies (such as Choice Mutual).

Most of the time, the type of plan sold directly by the carrier is guaranteed acceptance coverage.

Those plans are the most expensive and always have a two-year waiting period provision.

Life insurance plans with no waiting period that fully insure you from day one are exclusively sold via licensed insurance agents.

So if you want a plan with no waiting period at the lowest price possible, you must work with an agency.

In short, Choice Mutual is a licensed broker that represents over 15 different funeral insurance companies.

We will compare life insurance quotes on your behalf to determine which one will give you the best price on a burial insurance plan.

We will likely find you at least one company that will approve you for an immediate death benefit plan.

Burial insurance is our specialty. It’s all we do. No matter how old or young you are, we can help. We are one of the few agencies that can get life insurance for seniors over 85.

So if you want to work with a specialist who can shop the market to find you the best price on a final expense insurance plan, call us at 1-800-644-2926

Below, you can see what other satisfied customers have said about working with us.

You can also check our BBB rating to see that we maintain our accreditation and A+ rating.

You will always receive friendly, no-pressure assistance when dealing with our agents. We don’t employ pushy sales tactics.

Our agents are here to answer your questions and make honest recommendations. What you do with the information you receive is up to you.

You can view final expense insurance quotes online using the quoting tool on this page if you want a cost estimate.

Or you can review a whole life rates chart to see estimates for each age bracket.

Frequently Asked Questions