Learn how final expense insurance works, the cost, and the best companies in Tennessee.

How Much Does Final Expense Insurance Cost In Tennessee?

Generally, final expense insurance costs $50-$100 monthly for a $10,000 policy.

Your price varies based on your age, gender, health, state of residence, tobacco habits (if any), and the amount of coverage you choose.

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$131N/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$180N/A
Source for monthly prices: Choice Mutual quote calculator. Rates valid as of 05/08/2024.

 

Best Burial Life Insurance Companies In Tennessee

The federal government doesn’t manage insurance law. It’s done at the state level. Therefore, funeral life insurance in the USA differs from state to state.

That said, the table below outlines some of the best funeral insurance companies in Tennessee.

Insurance CompanyCoverage & New
Applicant Age Limits
Policy Type, Length
& Product name
Mutual of Omaha company logoCoverage:
$2,000-$50,000
Age Range:
45-85
Whole Life Insurance
Lasts forever once issued
"Living Promise"- Level
(no waiting period)
Aetna company logoCoverage:
$2,000-$50,000
Age Range:
40-89
Whole Life Insurance
Lasts forever once issued
"Accendo"- Preferred
(no waiting period)
Aflac company logoCoverage:
$5,000-$50,000
Age Range:
45-80
Whole Life Insurance
Lasts forever once issued
"Final Expense"- Preferred
(no waiting period)
Royal Neighbors of America company logoCoverage:
$7,000-$30,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"SIWL"
(no waiting period)
Foresters Financial company logoCoverage:
$5,000-$35,000
Age Range:
50-85
Whole Life Insurance
Lasts forever once issued
"PlanRight"- Preferred
(no waiting period)
Transamerica company logoCoverage:
$1,000-$50,000
Age Range:
45-85
Whole Life Insurance
Lasts forever once issued
"Immediate Solution"- Preferred
(no waiting period)
Prosperity Life Group company logoCoverage:
$5,000-$35,000
Age Range:
55-80
Whole Life Insurance
Lasts forever once issued
"New Vista"- Level
(no waiting period)
AIG company logoCoverage:
$5,000-$25,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"Guaranteed Acceptance"
(2 Yr waiting period)
Liberty Bankers Life company logoCoverage:
$3,000-$40,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"SIMPL"- Preferred
(no waiting period)
Gerber Life company logoCoverage:
$5,000-$25,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"Guaranteed Acceptance"
(2 Yr waiting period)
American Amicable company logoCoverage:
$2,500-$50,000
Age Range:
50-85
Whole Life Insurance
Lasts forever once issued
"Senior Choice"- Immediate
(no waiting period)
Baltimore Life company logoCoverage:
$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?

Final expense life insurance is a policy designed to pay for your end-of-life expenses. These are whole life policies typically between $2,000-$50,000 with most companies.

The cash payout is direct to your beneficiaries, who can spend the money on anything (not just funeral costs). Also, any money that’s left over is theirs to keep.

Tip:
Final expense insurance also goes by the name of burial or funeral insurance.

Since the policy is a whole life insurance contract, the coverage lasts forever. Also, the premiums remain fixed, and it will build cash value that you can withdraw whenever you want.

The requirements to qualify for a burial policy are very minimal. No medical exams are required, and you typically only have to answer some basic health questions.

At the same time, some policies offer guaranteed acceptance. Those don’t require answering health questions, so you cannot be denied due to previous medical issues.

Plans without health questions are much more expensive and always have a two-year waiting period. Death of natural causes during the waiting period will only result in a refund of your premiums.

However, plans with health questions (if approved) have no waiting period.

 

How Much Does A Funeral Cost In Tennessee?

The NFDA reports that a funeral in Tennessee costs $7,271 for a traditional burial and $6,314 for a cremation service.

Service TypeAverage Cost
Burial Service$7,271
Direct Burial (No Service)$3,570
Cremation Service$6,314
Direct Cremation (No Service)$1,933

Please keep in mind that the actual cost of a funeral will vary based on your preferences. It’s helpful to take advantage of a final expenses calculator to help estimate an accurate cost of your desired funeral.

 

The Free Look Period In Tennessee And The FTC Funeral Rule

In Tennessee, Title 56 of the insurance code mandates that all life insurance contracts include a 10-day free look provision. That clause grants you the right to return a policy for any reason and to receive a full refund of any money that may have been paid.

Another law that will assist in the funeral planning process is the FTC Funeral Rule. This law forces funeral homes to provide consumers with transparent pricing in writing. Also, it grants consumers the right to pick and choose which products and services they want from a funeral home. In other words, they don’t have to accept prepackaged funeral plans the funeral home may offer.

 

How Choice Mutual Can Help

Choice Mutual is an independent agency that works with over 15 different final expense insurance companies.

We will compare policies from all the top companies in your state to ensure you get the best deal possible.

Tip:
There are no fees, surcharges, or other costs when working with an independent agency. Also, the insurance doesn’t cost more because you bought through a broker.

Also, when you work with an independent agency like us, you gain access to final expense policies without a waiting period.

Companies that sell their coverage directly (Globe Life, Colonial Penn, AAA) almost always have a two-year waiting period plus a higher cost.

If you need senior burial insurance in Tennessee, call us at 1-800-644-2926, and one of our agents will assist you.

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 are known to provide accurate information. You can learn more about our editorial standards, which guides our mission of delivering factual and impartial content.

  1. state level. https://www.iii.org/publications/commercial-insurance/how-it-functions/regulation
  2. NFDA. 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
  3. Title 56. https://law.justia.com/codes/tennessee/2010/title-56/
  4. FTC Funeral Rule. https://www.ftc.gov/news-events/topics/truth-advertising/funeral-rule