Burial insurance in your 60’s is quite affordable.
Virtually every final expense insurance company offers coverage at this age range, so you’ll have plenty of companies to choose from.
Plus, most people in their 60s can secure a plan with no waiting period.
How Much Does Funeral Insurance In Your 60’s?
Coverage in your 60’s is very affordable. For example, a funeral insurance policy will cost a 50-year old about $32-$43 per month for $10,000 in coverage. At age 69, the same coverage will likely cost around $50-$66 monthly.
Please keep in mind that all forms of life insurance are priced based on the following factors:
- Age
- Gender (except in Montana)
- Any tobacco usage
- Health
- Coverage amount
Below are some tables showing funeral insurance costs for each year of your 60s.
All the premiums you see are real. However, keep in mind that your specific insurability factors (mentioned in the list above) could lead to a different price than what you see in these tables.
If you want to see price estimates from multiple insurance companies, use the quoting tool on this page.
Burial insurance rates at age 60
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $18 | $32 | $47 | $62 |
Female Tobacco & No Waiting Period | $24 | $45 | $66 | $87 |
Female Guaranteed Acceptance | $25 | $51 | $76 | $101 |
Male No Waiting Period | $23 | $43 | $63 | $83 |
Male Tobacco No Waiting Period | $31 | $59 | $87 | $116 |
Male Guaranteed Acceptance | $32 | $63 | $95 | $126 |
Burial insurance rates at age 61
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $18 | $34 | $50 | $65 |
Female Tobacco & No Waiting Period | $25 | $47 | $69 | $91 |
Female Guaranteed Acceptance | $27 | $54 | $80 | $107 |
Male No Waiting Period | $24 | $46 | $68 | $89 |
Male Tobacco No Waiting Period | $33 | $63 | $93 | $123 |
Male Guaranteed Acceptance | $34 | $68 | $102 | $136 |
Burial insurance rates at age 62
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $19 | $36 | $52 | $68 |
Female Tobacco & No Waiting Period | $26 | $49 | $73 | $96 |
Female Guaranteed Acceptance | $28 | $56 | $84 | $112 |
Male No Waiting Period | $26 | $49 | $72 | $94 |
Male Tobacco No Waiting Period | $35 | $67 | $99 | $131 |
Male Guaranteed Acceptance | $36 | $72 | $108 | $145 |
Burial insurance rates at age 63
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $20 | $37 | $54 | $72 |
Female Tobacco & No Waiting Period | $27 | $52 | $76 | $100 |
Female Guaranteed Acceptance | $30 | $59 | $88 | $117 |
Male No Waiting Period | $27 | $51 | $75 | $99 |
Male Tobacco No Waiting Period | $37 | $70 | $102 | $136 |
Male Guaranteed Acceptance | $39 | $77 | $115 | $153 |
Burial insurance rates at age 64
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $21 | $39 | $57 | $74 |
Female Tobacco & No Waiting Period | $28 | $54 | $79 | $105 |
Female Guaranteed Acceptance | $30 | $61 | $91 | $121 |
Male No Waiting Period | $28 | $53 | $78 | $103 |
Male Tobacco No Waiting Period | $37 | $72 | $107 | $142 |
Male Guaranteed Acceptance | $41 | $81 | $121 | $161 |
Burial insurance rates at age 65
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $22 | $41 | $59 | $78 |
Female Tobacco & No Waiting Period | $29 | $56 | $83 | $110 |
Female Guaranteed Acceptance | $31 | $62 | $93 | $124 |
Male No Waiting Period | $28 | $53 | $79 | $104 |
Male Tobacco No Waiting Period | $39 | $76 | $112 | $149 |
Male Guaranteed Acceptance | $43 | $85 | $127 | $169 |
Burial insurance rates at age 66
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $23 | $43 | $63 | $83 |
Female Tobacco & No Waiting Period | $31 | $60 | $88 | $117 |
Female Guaranteed Acceptance | $33 | $65 | $98 | $130 |
Male No Waiting Period | $30 | $57 | $83 | $110 |
Male Tobacco No Waiting Period | $41 | $80 | $119 | $158 |
Male Guaranteed Acceptance | $44 | $88 | $132 | $176 |
Burial insurance rates at age 67
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $24 | $45 | $67 | $88 |
Female Tobacco & No Waiting Period | $33 | $63 | $93 | $123 |
Female Guaranteed Acceptance | $34 | $68 | $102 | $136 |
Male No Waiting Period | $31 | $60 | $88 | $116 |
Male Tobacco No Waiting Period | $43 | $84 | $125 | $166 |
Male Guaranteed Acceptance | $46 | $91 | $137 | $182 |
Burial insurance rates at age 68
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $25 | $48 | $70 | $93 |
Female Tobacco & No Waiting Period | $34 | $66 | $97 | $129 |
Female Guaranteed Acceptance | $35 | $70 | $105 | $140 |
Male No Waiting Period | $33 | $63 | $93 | $123 |
Male Tobacco No Waiting Period | $46 | $89 | $133 | $176 |
Male Guaranteed Acceptance | $47 | $94 | $141 | $188 |
Burial insurance rates at age 69
GENDER & RATING | $5,000 | $10,000 | $15,000 | $20,000 |
---|---|---|---|---|
Female No Waiting Period | $27 | $50 | $74 | $98 |
Female Tobacco & No Waiting Period | $36 | $70 | $104 | $137 |
Female Guaranteed Acceptance | $37 | $73 | $109 | $145 |
Male No Waiting Period | $35 | $66 | $98 | $129 |
Male Tobacco No Waiting Period | $48 | $94 | $140 | $186 |
Male Guaranteed Acceptance | $48 | $96 | $145 | $193 |
How Does Final Expense Insurance Work?
Final expense insurance is usually a small whole life insurance policy meant to cover funeral costs. The payout is fast (typically 24-48 hours), so your loved ones can fulfill your wishes.
Remember that final expense life insurance is also frequently referred to as burial/funeral/end-of-life insurance. All those expressions mean the same thing.
They are sold in small coverage amounts. With most companies, you can typically buy $2,000-$50,000, which is good since a funeral generally costs $10,000.
The fine print is minimal. A whole life burial expense policy works as follows:
- Guaranteed lifetime coverage
- Prices never increase
- Coverage will never decrease
- Accrues cash value
Because it’s life insurance, the final result will be a fax-free cash payout directly to the beneficiaries of your choice. They can spend the money in any way. There are absolutely no restrictions on how the money is spent.
If they don’t spend all the money on your funeral, they keep the remaining amount.
Do Health Issues Matter?
Health issues heavily influence your options and what price you’ll pay for coverage.
In short, you can qualify for two types of burial insurance plans.
One type has health questions where your eligibility depends on your health history.
On the flip side, some plans have no health questions. Policies without health questions are called “guaranteed issue” because they guarantee your approval.
It’s essential that you understand the differences between these two options.
- No health questions: You cannot be denied due to preexisting conditions. Simply put, your approval is guaranteed. These plans all have a two-three year waiting period for a death benefit payout. If you die during the waiting period, the insurer will not pay the death benefit. Instead, they will only refund your premiums plus interest. Also, these plans are typically the most expensive. Since the insurance company knows nothing about your health, they take on considerable risk. As is the case with all forms of insurance, the higher the risk, the higher the price.
- Has health questions: These plans don’t require a medical exam, but you must answer questions about your health. If you’re approved, there is no waiting period. You’re insured for natural or accidental death upon making your first payment. Most of the time, these are the least expensive plans since the insurance company knows you don’t have certain high-risk health conditions.
Most health ailments are still eligible for coverage that has no waiting period. That’s not always the case, but most of the time, it is.
So for most people, it’s advisable to apply for plans that have a health questionnaire. That will lead to lower prices and immediate coverage.
Please note that guaranteed acceptance life insurance with no waiting period is a fake concept. There is no life policy anywhere in the world that asks no health questions and still offers immediate coverage.
Waiting Period Vs No Waiting Period
Some funeral insurance plans have a two-year waiting period before you’re insured, and some do not.
To get a life policy with no waiting period, you have to qualify for it. In essence, you must apply for a plan that requires you to answer questions about your health (no exam is needed).
Most health ailments are still eligible for no waiting period. However, there are some health issues where a waiting period is inevitable.
Below is a list of the most common conditions where you cannot qualify for a no waiting period policy.
- Dialysis
- Alzheimer’s or dementia
- Cancer in the last two years
- Wheelchair-bound
- Bedridden
- A resident of a nursing facility
- ALS
- Terminal illness
- Diabetic coma, insulin shock, or amputation due to diabetes within the previous 12 months
- Chest pains within the last 12 months
- HIV or AIDS
- Stroke or heart attack in the previous 12 months
There is a good chance you can get a policy with immediate coverage if you don’t have any of those conditions.
3 Of The Best Final Expense Insurance Companies For 60-Year-Olds
Please keep in mind that one insurance company cannot be the best option for everyone.
Every life insurance company had different pricing and underwriting. For this reason, it’s vital that you analyze multiple insurance carriers. Only then can you determine which one is best for you.
That said, below are three of the best burial insurance companies to consider if you’re aged 60-69.
1) Mutual of Omaha
Mutual of Omaha is one of the USA’s largest and most financially sound life insurance carriers. If you’re in your 60s, you cannot beat their prices.
If you can medically qualify for their coverage, do it as soon as possible.
Product Details | Policy Type: Whole Life Insurance |
New Applicant Age Range: 45-85 | |
2-Year Waiting Period: No (subject to underwriting approval) | |
Coverage Amount Range: $2,000-$50,000 | |
States Available: All States (except New York) | |
Product Benefits | Premiums Stay the Same Forever: Yes |
Builds Cash Value: Yes | |
Policy Duration: Lifetime | |
Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness or is under nursing home confinement. | |
Optional Riders: Accidental Death (2X the payout for accidental death) | |
Application Details | Where to Apply: Agencies licensed to sell Mutual of Omaha products (you can't buy this plan directly from them) |
Phone Number to Apply: 1-800-644-2926 | |
Medical Exam Required: No | |
Guaranteed Acceptance: No | |
Application Approval Time: 10 Minutes to 2 Business Days | |
Common health conditions still eligible for no waiting period coverage: Aneurysm Arthritis Asthma Blindness Blood clots > 2 years ago Blood thinners Cancer > 4 years ago Circulatory surgery > 2 years ago Crohn’s disease Depression Diabetes (type 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis A or B High blood pressure High cholesterol Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 2 years ago Tumors (non-cancerous) |
2) Transamerica
Transamerica is an old and very financially stable life insurance carrier. Like Mutual of Omaha, they too have very low prices for people in their 60s.
They will even approve people for plans with no waiting period if they have chronic conditions such as COPD.
Product Details | Policy Type: Whole Life Insurance |
New Applicant Age Range: 45-85 | |
2-Year Waiting Period: No (subject to underwriting approval) | |
Coverage Amount Range: $1,000-$50,000 (varies by age) | |
States Available: All States | |
Product Benefits | Premiums Stay the Same Forever: Yes |
Builds Cash Value: Yes | |
Policy Duration: Lifetime | |
Accelerated Death Benefit: This free rider is automatically included. You can access the full death benefit while alive if the insured has a terminal illness that is expected to cause death within 12 months. | |
Optional Riders: Accidental Death (2X the payout for accidental death) | |
Application Details | Where to Apply: Agencies licensed to sell Transamerica products (you can't buy this plan directly from them) |
Phone Number to Apply: 1-800-644-2926 | |
Medical Exam Required: No | |
Guaranteed Acceptance: No | |
Application Approval Time: 15 Minutes- 5 Business Days | |
Common conditions still eligible for no waiting period coverage: Afib Angina (chest pains) Aneurysm (if surgically repaired) Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 4 years ago Chronic bronchitis Circulatory surgery > 1 year ago COPD Crohn’s disease Depression Diabetes (type 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis High blood pressure High cholesterol Kidney disease Lupus Multiple sclerosis Pacemaker (installed > 1 year ago) Parkinson’s disease Schizophrenia Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors |
3) Foresters Financial
Having been in business since 1874, Foresters Financial is one of the oldest life insurance companies that operate in the USA.
Their coverage is very price competitive, and their application gives you an underwriting decision within minutes.
They have some of the best life insurance for seniors.
Product Details | Policy Type: Whole Life Insurance |
New Applicant Age Range: 50-85 | |
2-Year Waiting Period: No (subject to underwriting approval) | |
Coverage Amount Range: $5,000-$35,000 (varies by age) |
|
States Available: All States (except New York) | |
Product Benefits | Premiums Stay the Same Forever: Yes |
Builds Cash Value: Yes | |
Policy Duration: Lifetime | |
Optional Riders: Accidental Death (2X the payout for accidental death) |
|
Application Details | Where to Apply: Agencies licensed to sell Foresters Financial products (you can't buy this plan directly from them) |
Phone Number to Apply: 1-800-644-2926 | |
Medical Exam Required: No | |
Guaranteed Acceptance: No | |
Application Approval Time: 10 Minutes | |
Common conditions still eligible for no waiting period coverage: Afib Aneurysm Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 3 years ago Chronic bronchitis Circulatory surgery > 1 year ago Cirrhosis COPD Crohn’s disease Depression Diabetes (type 1 or 2) Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis High blood pressure High cholesterol Insulin shock > 2 years ago Kidney disease (no dialysis) Lupus Multiple sclerosis Pacemaker (installed > 1 year ago) Parkinson’s disease Schizophrenia Scleroderma Seizures Sickle cell anemia Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors |
How Choice Mutual Can Help
If you’re looking for senior final expense insurance, it is imperative that you compare multiple insurance companies to ensure you’re getting the best policy for you.
That’s where Choice Mutual comes in.
We are an independent agency that represents over 15 different insurance companies.
We compare offers from multiple carriers to find the one best for you. Plus, most of the plans we have access to have no waiting period.
Regardless of your age, call us, and we’ll answer all your questions and ensure you get the best policy at the best price possible.
You can read hundreds of positive reviews from our past customers who have worked with us.