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 | Female $10,000 Simplified Issue (Monthly Rates) | Female $10,000 Guaranteed Acceptance (Monthly Rates) | Male $10,000 Simplified Issue (Monthly Rates) | Male $10,000 Guaranteed Acceptance (Monthly Rates) |
|---|---|---|---|---|
| 45 | $22 | $28 | $27 | $33 |
| 50 | $24 | $30 | $30 | $36 |
| 55 | $27 | $38 | $35 | $45 |
| 60 | $32 | $42 | $43 | $55 |
| 65 | $41 | $51 | $54 | $66 |
| 70 | $51 | $69 | $70 | $89 |
| 75 | $71 | $98 | $99 | $121 |
| 80 | $98 | $140 | $139 | $166 |
| 85 | $135 | $170 | $192 | $230 |
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 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 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.
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 Type | Average 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.
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.
