Learn how these policies work, the cost, the best companies in Kentucky and how much a funeral costs.
How Much Does Funeral Insurance In Kentucky Cost?
Burial insurance in Kentucky typically costs $50-$100 monthly for a $10,000 policy. But understand that your price may differ depending on your age, health, gender, and the amount of coverage you purchase.
The table below has some monthly sample final expense prices for Kentucky.
| 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 Final Expense Life Insurance Companies In Kentucky
States, not the federal government, regulate insurance. For that reason, final expense insurance in the USA varies from state to state.
The table below has the top burial insurance companies in Kentucky.
| 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: $7,000-$30,000 Age Range: 50-80 | Whole Life Insurance Lasts forever once issued "SIWL" (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 Burial Insurance Work?
Final expense insurance is a type of life insurance meant to pay for your funeral and other final expenses.
It’s a small whole life policy with coverage options between $2,000-$50,000 with most providers.
It’s life insurance, so the final result upon the insured’s death will be a tax-free cash payment to your loved ones or a funeral home.
Your family can spend the month on funeral bills, debts, medical bills, or anything else.
Because it’s a whole life policy, you can rest assured that the coverage will never increase in cost, decrease in value or expire at any age.
It will also accrue cash value that the policyholder may withdraw at any time they want.
Final expense insurance for seniors does not require a medical exam.
There are two basic options. Some policies have health questions, and some don’t.
Plans with health questions can cover you immediately for natural or accidental death. Additionally, they are the cheapest plans you can buy.
Conversely, plans without health questions are called guaranteed life insurance policies.
You cannot be denied because of prior health conditions.
The guaranteed approval feature comes with two significant drawbacks. First, no health questions policies are more expensive. The insurer must charge more because they know nothing about your health.
The other drawback is that there is a two-year waiting period. If you die within the first two years, the insurer will only refund your payments plus a small amount of interest (typically 10%).
How Much Does A Funeral Cost In Kentucky?
According to the National Funeral Directors Association, the average cost of a funeral in Kentucky is $7,615 for a burial and $5,858 for cremation.
But you can save a lot of money if you choose to go with a direct burial or cremation. A direct funeral has no memorial services of any kind.
| Service Type | Average Cost |
|---|---|
| Burial Service | $7,615 |
| Direct Burial (No Service) | $3,595 |
| Cremation Service | $5,858 |
| Direct Cremation (No Service) | $2,022 |
Funeral cost estimators can help you gauge how much your desired funeral may cost.
The Free Look Period In Kentucky And The FTC Funeral Rule
The state of Kentucky mandates that all life insurance policies include a free look provision that lasts ten days. During this time, you can return your policy for any reason. Furthermore, you’re entitled to a refund of any premiums paid.
If you buy funeral insurance in Kentucky and regret it, you can get out of it and get your money back.
The FTC’s Funeral Rule is a law that helps with the funeral planning process. Whether you want burial or cremation, this law forces funeral homes to provide you with transparent pricing (in writing) upon request. The law also entitles consumers to pick and choose which products and services they want rather than having to accept pre-packaged plans.
Finally, funeral homes must accept third-party goods such as caskets or urns.
How Choice Mutual Can Help
It’s always helpful to check with multiple life insurance companies when looking for burial insurance.
If you need final expense insurance in Kentucky, Choice Mutual can do the comparison shopping for you.
We are an independent broker representing over 15 different insurance providers. After learning a little about you and your needs, we’ll find which carrier will offer you the best policy.
Another advantage to working with a broker is that you have access to burial insurance plans with no waiting period.
Immediate coverage policies are generally only sold through agencies like Choice Mutual.
If you need no exam final expense insurance, call us at 1-800-644-2926. We’ll help you find the best deal possible.
- 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 14 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 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 14 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 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.
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States. https://www.iii.org/publications/commercial-insurance/how-it-functions/regulation
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National Funeral Directors Association. https://nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral
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state of Kentucky. https://insurance.ky.gov/ppc/Documents/lifebuyersguide111611.pdf
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FTC’s Funeral Rule. https://www.ftc.gov/news-events/topics/truth-advertising/funeral-rule
