In this article, we’ll discuss how final expense policies work, see sample costs, the best companies, and how much a funeral costs in Alabama.
How Much Does Burial Insurance In Alabama Cost?
On average, a burial expense insurance policy will cost between $50-$100 per month for a $10,000 death benefit.
However, it’s important to remember that prices are calculated by your age, gender, state, health, tobacco habits, and how much coverage you want. Therefore, your price might be higher or lower based on those factors.
Below is a table showing some sample funeral insurance quotes.
| 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 | $131 | N/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 | $180 | N/A |
| Source for monthly prices: Choice Mutual quote calculator. Rates valid as of 05/08/2024. | ||
Best Funeral Insurance Companies In Alabama
All forms of insurance, including life insurance, are regulated by the states- not the federal government. For that reason, final expense plans in the USA are different in each state.
Below is a list of the best burial insurance companies in Alabama.
| Insurance Company | Coverage & New Applicant Age Limits | Policy Type, Length & Product name |
|---|---|---|
 | Coverage: $2,000-$50,000 Age Range: 45-85 | Whole Life Insurance Lasts forever once issued "Living Promise"- Level (no waiting period) |
 | Coverage: $2,000-$50,000 Age Range: 40-89 | Whole Life Insurance Lasts forever once issued "Accendo"- Preferred (no waiting period) |
 | Coverage: $5,000-$50,000 Age Range: 45-80 | Whole Life Insurance Lasts forever once issued "Final Expense"- Preferred (no waiting period) |
 | Coverage: $5,000-$35,000 Age Range: 50-85 | Whole Life Insurance Lasts forever once issued "PlanRight"- Preferred (no waiting period) |
 | Coverage: $1,000-$50,000 Age Range: 45-85 | Whole Life Insurance Lasts forever once issued "Immediate Solution"- Preferred (no waiting period) |
 | Coverage: $5,000-$35,000 Age Range: 55-80 | Whole Life Insurance Lasts forever once issued "New Vista"- Level (no waiting period) |
 | Coverage: $5,000-$25,000 Age Range: 50-80 | Whole Life Insurance Lasts forever once issued "Guaranteed Acceptance" (2 Yr waiting period) |
 | Coverage: $3,000-$40,000 Age Range: 50-80 | Whole Life Insurance Lasts forever once issued "SIMPL"- Preferred (no waiting period) |
 | Coverage: $5,000-$25,000 Age Range: 50-80 | Whole Life Insurance Lasts forever once issued "Guaranteed Acceptance" (2 Yr waiting period) |
 | Coverage: $2,500-$50,000 Age Range: 50-85 | Whole Life Insurance Lasts forever once issued "Senior Choice"- Immediate (no waiting period) |
 | Coverage: $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?
A final expense life insurance plan is a small whole life policy that pays an immediate cash benefit to cover your final expenses. Most companies offer about $50,000 in coverage or less.
No medical exams are required, and the underwriting is very lenient, so senior citizens with health conditions can still obtain coverage.
While the policy payout is typically intended for funeral expenses, the money can be spent on anything.
Your beneficiaries will receive a tax-free cash payment that has no restrictions on what they may spend it on.
And if they don’t use all the funds to pay for your funeral, they can keep what’s left over.
Since burial insurance plans for seniors are a type of whole life insurance, there’s a guarantee that the price will never increase and the coverage lasts indefinitely.
Additionally, the policy will build cash value you can borrow from any time you want.
Essentially, there are two basic types of plans you can buy. First, one type has health questions where your eligibility depends on your health history.
If approved, plans with health questions have no waiting period (if you qualify).
That means the insurance company would still have to pay out the full death benefit if you died after making your first payment.
The second option is a guaranteed acceptance final expense policy, which has no health questions. With those, you cannot be denied due to pre-existing conditions.
Keep in mind that guaranteed acceptance options always have a two-year waiting period.
If you die of natural causes during the waiting period, the insurance provider will only refund your money plus a small amount of interest.
How Much Does A Funeral Cost In Alabama?
The most recent report from the National Funeral Directors Association indicates that a typical traditional funeral with a burial service, vault, and viewing costs $7,271. A cremation service is slightly cheaper, costing $6,314.
| Service Type | Average Cost |
|---|---|
| Burial Service | $7,271 |
| Direct Burial (No Service) | $3,838 |
| Cremation Service | $6,314 |
| Direct Cremation (No Service) | $2,016 |
Remember that the final cost of your funeral service will depend heavily on your preferences. For example, if you forgo services (direct funeral), you can save a substantial amount of money.
For example, a direct burial typically costs $3,838 in Alabama. Funeral calculators are helpful when trying to estimate your final expenses.
The Free Look Period In Alabama And The FTC Funeral Rule
Alabama insurance law requires every life insurance policy to have a 30-day free look period. This rule grants the policyholder the right to review and cancel their policy for any reason.
In addition, they are entitled to refund any premiums they may have paid.
Another helpful law that the Alabama government doesn’t regulate is the Federal Trade Commission’s Funeral Rule.
This law assists consumers when funeral planning because it forces funeral homes to provide a written price list upon request. It also stipulates that funeral homes allow you to pick and choose which products and services you want. In other words, you don’t have to accept funeral packages they may offer you.
How Choice Mutual Can Help
If you need burial insurance in Alabama, Choice Mutual can help you find the best policy at the lowest price.
As an independent agency, we represent nearly 20 different insurance providers. Partnering with multiple companies allows us to compare offers from all the top providers in Alabama to find you the best deal.
Our services are free, and you don’t pay more for the insurance since you bought it through a broker. You’ll almost certainly save money by working with us because we shop the entire market on your behalf.
We have thousands of positive online reviews because our agents are friendly and helpful.
Call us at 1-800-644-2926.
- Nationally licensed life insurance agent with over 15 years of experience
- Personal annual production that puts him in the top .001% out of all life insurance agents in the nation.
Anthony Martin is a nationally licensed insurance expert with over 15 years of experience and has personally served over 10,000 clients with their life insurance needs. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, Kiplinger, and Entreprenuer.com. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more.
- Nationally licensed life insurance agent with over 19 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.
- Nationally licensed life insurance agent with over 10 years of experience
- Best selling Amazon author of three insurance sales books.
David Duford is a nationally licensed insurance expert with over 10 years of experience. He has personally helped more than 1500 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.
- Nationally licensed life insurance agent with over 19 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.
- Nationally licensed life insurance agent with over 10 years of experience
- Best selling Amazon author of three insurance sales books.
David Duford is a nationally licensed insurance expert with over 10 years of experience. He has personally helped more than 1500 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.
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.
-
in the USA. https://www.iii.org/publications/commercial-insurance/how-it-functions/regulation
-
National Funeral Directors Association. 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
-
Alabama insurance law. https://www.aldoi.gov/pdf/legal/113-2005.pdf
-
Funeral Rule. https://www.ftc.gov/news-events/topics/truth-advertising/funeral-rule
