Most insurance companies allow people to buy burial insurance online.
There are various options and pros and cons to each one.
Learn how to buy a policy online, how these plans work, see sample prices, and the best companies.
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How To Buy Final Expense Insurance Online
Many (not all) final expense insurance companies offer an online application that does not require you to fill out a paper application.
There are two ways to approach this.
You can either buy funeral insurance online directly from the company or through a broker.
Both online methods are similar, but there are differences to consider.
1) Buy directly from the insurance company
In this circumstance, you’re going directly to the insurance company’s website and signing up.
For example, Globe Life, Colonial Penn, or the AARP life insurance program are three common examples of companies allowing this.
On their websites, you input all your information to completely fill out the application.
That includes providing your name, date of birth, address, phone number, email, social security number, beneficiaries’ names, and payment information (credit card number or routing & account number).
In addition, you’ll answer their health questions if there are any.
You then sign your application electronically on your device, which submits it to the insurance company.
If you’re approved, you’ll get a policy in the mail. However, if you’re declined, you’ll get a letter outlining why you were denied.
In most cases, you don’t need to speak with a licensed agent or customer service representative at any point.
Pros & cons to going directly to the insurance company
- Usually, you don’t have to speak to someone.
- The process is typically pretty quick.
- You have greater control over the application procedure.
- They will show you the actual prices.
- Most plans sold directly are guaranteed acceptance life insurance which is more expensive and has a two-year waiting period before you’re insured for natural causes of death.
- You have no other carrier options.
- There is no personal point of contact that you can call for service issues down the line.
- If you apply for a plan with health questions, the health questionnaire is often ambiguous, which can lead to a denial. Being previously declined for life insurance can jeopardize your ability to qualify with another provider.
- You likely won’t know for weeks whether you’re accepted or rejected because they don’t call you. They merely send (via US mail) a policy or denial letter that takes weeks to arrive.
- It may not be immediately clear how the policy works. For example, very few people realize that an AARP burial insurance policy will increase in price every five years and expires at age 80.
- You’re limiting yourself to a tiny portion of the market. Conservatively, 98% of life insurance companies only sell their policies through licensed agencies. They don’t sell their coverage directly, be it online, by mail, or by telephone.
2) Buy online from an insurance agency
For context, an insurance agency represents one or more insurance companies.
They are duly licensed and authorized to sell insurance for whichever companies they’ve partnered with.
It’s important to remember that buying through an agency doesn’t result in any fees or higher insurance costs.
The price you pay when purchasing through an agency is identical to the price you’d pay going directly to the insurer.
That said, working with a broker is a very similar process to going directly to the insurance company. You fill out the application online by providing all your personal information.
When working with an agency, the primary difference is that you’ll likely need to speak with a licensed agent to finalize the application.
They will confirm that your information is accurate and read you the health questions (if any).
Only after doing so can the application be formally submitted to the insurance company for underwriting consideration.
If approved, your agent will call you to notify you of the good news, and you will get your policy in the mail.
However, if you’re declined, your agent will call you to inform you of the bad news.
One of the key differences when buying final expense insurance online through an agent is that they can pivot and apply with another carrier.
So if the first company they suggest declines you, they can immediately apply with the next best option.
Pros & cons to going to buying through an agency
- Their advisory services are free, and the insurance doesn’t cost more because you bought through a broker.
- Agents can offer you more than one company. That allows them to compare offers from multiple providers to find you the best rate.
- They can provide quotes from multiple carriers since they aren’t limited to one company.
- You will have a personal point of contact that you can call for questions and help with service issues.
- You’ll have access to far more life insurance companies. Most insurance carriers only sell their products through licensed agents (no direct sales channels).
- A professional who can advise you on the pros and cons of the various types of life insurance and recommend the best plan.
- They know how each carrier underwrites, which reduces the risk of a decline. Being declined by one life insurance company can make it harder to qualify elsewhere.
- Some agents are captive (such as State Farm) that only represent one provider and cannot offer you any other companies to get you a better deal.
- You likely have to talk to a licensed agent.
- Some unethical agents will only care about their commission and not make recommendations in accordance with your best interest.
- Not all, but some agency websites don’t show you prices even though they make it appear as if they do.
What Is Final Expense Insurance And How Does It Work?
Final expense insurance is a small death benefit whole life policy meant to pay for your end-of-life expenses.
It pays a cash benefit (tax-free) to the beneficiaries of your choice. Alternatively, you can name a funeral home as the beneficiary.
If the money is paid to your loved ones, they can spend it without restrictions. That means they can use the funds to pay for funeral costs, final medical bills, credit card debts, or anything else.
Also, if they don’t use all the money on your final expenses, they get to keep what’s left over.
Since a burial insurance plan is a type of whole life insurance, the details are simplistic.
The price will never increase, coverage won’t decrease, and it lasts forever (hence the term “whole life”).
Most final expense insurance companies offer plans to seniors 50-85, but some go below 50 and above 85. Also, they typically don’t sell more than $50,000 in coverage.
There are essentially two options:
- Simplified issue: This option does not require a medical exam, but there are health questions. If approved, there is no waiting period. Death at any point would result in a total payout of the death benefit.
- Guaranteed issue: This option has no medical exam or health questionnaire. Put simply; you are guaranteed approval. However, you must endure a two-year waiting period in exchange for the guaranteed acceptance provision. If you die of natural causes during the waiting period, they will only refund your premiums plus interest (usually 10%).
Once you die, your beneficiaries only need to call the insurance provider being the death claim process. They’ll need to provide a copy of the death certificate and sign a beneficiary statement form.
That’s all the paperwork your family will need to provide for the claim to be paid. Once claims are approved, most companies pay the money within two-three days.
How Much Does Burial Insurance Cost?
It’s important to understand that the cost of a burial insurance policy is based on your age, gender, health, state of residence, tobacco usage (if any), and how much coverage you want.
However, your health will not be a factor if you opt for a guaranteed issue life policy.
That said, the average cost of a final expense policy is about $50-$100 per month for a $10,000 death benefit.
The whole life price chart below shows sample monthly prices for simplified and guaranteed issue plans.
| 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 |
The Best Funeral Insurance Companies
First, there are dozens of final expense insurance companies in the USA.
No single company can be the best option for everyone.
That’s because they all have different prices, terms and conditions, and underwriting (which health issues they do and do not accept).
For those reasons, comparing burial insurance policies from multiple providers is advisable to find the best deal.
Below are five of the best final expense insurance policies to consider.
1) Mutual of Omaha
Brochure Sample Policy Sample Application
Mutual of Omaha’s Living Promise policy is generally the least expensive final expense policy on the market.
If you can qualify for their level benefit option (most do), there will be no waiting period.
| 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-$40,000 | |
| 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 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) |
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2) Aetna
Aetna excels at offering life insurance to seniors over 80 because they will accept applicants as old as 89.
They also offer no waiting period coverage for people with high-risk chronic medical conditions.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 40-89 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $2,000-$50,000 (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 Aetna 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-3 Business Days | |
Common conditions still eligible for no waiting period coverage: Afib Aneurysm (if surgically repaired) Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 2 years ago Chronic bronchitis Circulatory surgery > 2 years ago COPD Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic coma > 2 years ago Diverticulitis Epilepsy Fibromyalgia Graves’ disease Heart attack > 1 year ago Heart surgery > 1 year ago Hepatitis > 2 years ago High blood pressure High cholesterol Insulin shock > 2 years ago Lupus Multiple sclerosis Obesity Over 85 life insurance Pacemaker (installed > 1 year ago) Parkinson’s disease Sarcoidosis Schizophrenia Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors (noncancerous) |
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3) Royal Neighbors of America
Royal Neighbors of America is very accommodating of seniors who have severe health issues. For example, if you have diabetes, they will likely be the best carrier for you.
Their rates are affordable, and they approve applications in minutes.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 50-80 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $7,000-$30,000 | |
| States Available: All States (except AK, AL, HI, LA, MA, NH, NY) |
|
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Optional Riders: None | |
| Application Details | Where to Apply: Agencies licensed to sell Royal Neighbors 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 > 2 years ago Circulatory surgery > 2 years ago Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic neuropathy Diverticulitis Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis > 2 years ago High blood pressure High cholesterol Home health care Multiple instances of cancer Pacemaker (installed > 2 years ago) Retinopathy Schizophrenia Scleroderma Severely overweight Sleep apnea Tia mini-strokes Tumors |
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4) American Amicable
American Amicable approves applications quickly, and they have low prices for people who smoke cigarettes.
| 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: $2,500-$50,000 (varies by age) | |
| States Available: All States (except CT, ME, MT, NH, NY, VT) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Optional Riders: None | |
| Application Details | Where to Apply: Agencies licensed to sell American Amicable 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 > 3 years ago Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 3 years ago Circulatory surgery > 3 years ago Crohn’s disease Depression Diabetes (type 2) Diverticulitis Fibromyalgia Grave’s disease Heart attack > 3 years ago Heart surgery > 3 years ago Hepatitis > 3 years ago High blood pressure High cholesterol Pacemaker (installed > 3 years ago) Schizophrenia Scleroderma Sickle cell anemia Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 3 years ago Tumors (non-cancerous) |
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5) Transamerica
Transamerica offers excellent rates for life insurance for seniors over 70.
Additionally, they will approve applicants with chronic conditions such as COPD or CKD for coverage with no waiting period.
| 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 | |
| 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 (no dialysis) 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 |
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How Choice Mutual Can Help You Buy Burial Insurance Online
Choice Mutual is an independent insurance agency licensed in all states throughout the USA.
We partner with nearly 20 final expense companies to help our customers find the lowest price on a final expense policy.
So if you’re looking to buy final expense coverage online, we can save you time and money.
We’ll compare every plan in your state from all the top companies to find you the best deal possible.
Our services are free, and the insurance has no surcharges because you worked with a broker.
Call us at 1-800-644-2926, and one of our friendly agents will answer all your questions and recommend the best policy.
We have thousands of positive online reviews from past customers. Call us and see why thousands of people trusted us to help them in such an important manner.