In this article, we’ll explain why young adults should get burial insurance, the best companies, show some sample quotes for various ages, and how much coverage you should buy.
Why Young Adults Should Buy Final Expense Insurance
There are two primary reasons young adults should buy burial insurance- a greater chance of qualifying for immediate coverage (younger people tend to be healthier) and to lock in a permanent policy at a very low price that never changes.
For example, a 40-year-old non-smoking female can get a $25,000 whole life policy for final expenses for just $45 monthly. That same coverage would cost a 65-year-old nearly $100 per month.
Major health issues like heart attacks, strokes, diabetes, cancer, lung disease, and other high-risk conditions typically manifest later in life. These conditions can occur at any age, but they are less common in younger people.
Generally speaking, most young adults can qualify for a burial policy that A) offers the lowest price and B) immediate coverage for natural or accidental death.
How Much Does Burial Insurance Cost For Young Adults?
The cost of final expense insurance for younger adults is $29-$54 per month for a $25,000 policy. The exact price varies depending on your actual age, gender, state of residence, tobacco habits, health, and how much coverage you choose.
Below are some whole life rates chart by age that outline some sample premiums for various age groups.
20-29 final expense rates
| Gender & Type Of Plan | Death Benefit (Monthly Premiums) |
|||
|---|---|---|---|---|
| $10,000 | $15,000 | $20,000 | $25,000 | |
| Female No Waiting Period | $14 - $16 | $19 - $21 | $24 - $27 | $29 - $32 |
| Female Tobacco User & No Waiting Period | $16 - $19 | $23 - $26 | $29 - $33 | $36 - $40 |
| Male No Waiting Period | $16 - $18 | $23 - $25 | $29 - $32 | $35 - $39 |
| Male Tobacco No Waiting Period | $21 - $25 | $30 - $35 | $38 - $45 | $46 - $55 |
30-39 final expense rates
| Gender & Type Of Plan | Death Benefit (Monthly Premiums) |
|||
|---|---|---|---|---|
| $10,000 | $15,000 | $20,000 | $25,000 | |
| Female No Waiting Period | $16 - $20 | $21 - $28 | $27 - $36 | $33 - $44 |
| Female Tobacco User & No Waiting Period | $19 - $26 | $27 - $37 | $34 - $48 | $41 - $59 |
| Male No Waiting Period | $19 - $24 | $26 - $33 | $33 - $43 | $40 - $52 |
| Male Tobacco No Waiting Period | $25 - $33 | $35 - $47 | $46 - $61 | $56 - $75 |
40-49 final expense rates
| Gender & Type Of Plan | Death Benefit (Monthly Premiums) |
|||
|---|---|---|---|---|
| $10,000 | $15,000 | $20,000 | $25,000 | |
| Female No Waiting Period | $21 - $24 | $29 - $34 | $37 - $44 | $45 - $55 |
| Female Tobacco User & No Waiting Period | $27 - $31 | $38 - $45 | $49 - $59 | $61 - $72 |
| Male No Waiting Period | $24 - $30 | $34 - $43 | $44 - $56 | $54 - $70 |
| Male Tobacco No Waiting Period | $34 - $39 | $48 - $56 | $62 - $74 | $77 - $92 |
50-59 final expense rates
| Gender & Type Of Plan | Death Benefit (Monthly Premiums) |
|||
|---|---|---|---|---|
| $10,000 | $15,000 | $20,000 | $25,000 | |
| Female No Waiting Period | $24 - $32 | $35 - $46 | $45 - $60 | $55 - $74 |
| Female Tobacco User & No Waiting Period | $31 - $44 | $46 - $64 | $60 - $84 | $74 - $104 |
| Male No Waiting Period | $31 - $42 | $44 - $61 | $57 - $80 | $71 - $99 |
| Male Tobacco No Waiting Period | $38 - $57 | $56 - $83 | $73 - $110 | $91 - $137 |
Best Final Expense Insurance Companies For Young Adults
Below are five companies that offer final expense insurance for young adults. There’s no way to choose just one as the best for everyone because they vary in price, underwriting, and the minimum age for new applicants.
But there is a good chance that your best final expense policy is with one of these providers.
1 ) Mutual of Omaha
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Mutual of Omaha typically has the lowest rates compared to other companies. If you’re 45 or older, they would be a great option if you can qualify.
| 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) |
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2) Aetna
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Aetna life insurance is available to adults as young as 40 and accepts applicants with high-risk pre-existing 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 | |
| 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 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) Transamerica
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Transamerica will issue a new policy to adults as young as 18, which is unique in the final expense insurance business. Most providers have a much higher minimum age (usually 40-50).
Their prices are fair, and folks with high-risk medical conditions can still secure 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 | |
| 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 |
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4) Liberty Bankers Life
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Liberty Bankers Life is another company that accepts applicants as young as 18. You can still qualify for immediate coverage even if you have prior medical issues. Also, they usually approve applications within ten minutes.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 18-80 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $3,000-$40,000 | |
| States Available: All States (except CT, MA, MN, NH, NY, RI) | |
| 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 Liberty Bankers Life (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 Chronic bronchitis Circulatory surgery > 2 years ago COPD Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic coma Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis > 2 years ago High blood pressure High cholesterol Insulin shock > 2 years ago Pacemaker (installed > 1 year ago) Schizophrenia Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke > 2 years ago TIA mini stroke |
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5) Americo
Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
Americo isn’t as low priced as other companies, but they compensate for it with lenient underwriting. If you’re having difficulty securing coverage with no waiting period, Americo might be the answer.
Just know that tobacco users should not consider Americo under any circumstance.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 40-85 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $5,000-$40,000 | |
| States Available: All States (except 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 Americo 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: < 5 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 > 1 year ago Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic amputation > 2 years ago Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 1 year ago Heart surgery > 1 year ago High blood pressure High cholesterol Insulin shock > 2 years ago 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 (non-cancerous) |
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How Much Final Expense Coverage Should Someone Under 50 Buy?
Inflation is a critical factor that young adults must consider when deciding how much burial insurance coverage they should buy. While $10,000 might be the average cost of a funeral today, that won’t be the cost 20-40 years from now.
If you’re 18-50, you should buy $15,000–$25,000 (or more if you can afford it) to ensure you have enough coverage to pay for what a funeral will cost in your 70s-80s.
If you can’t afford as much coverage as you’d like that considers inflation, buy what you can now. You can always pick up more insurance in the future when your budget allows for it.
Frequently Asked Questions
The minimum age for final expense insurance is 18, and the maximum is 90. It’s important to remember that each company has different life insurance age limits for their various products.
Aetna life insurance is usually the best burial insurance for young adults. They accept applicants as young as 40, even if you have high-risk medical conditions, and their prices are competitive. Also, they typically approve applications within ten minutes.
Final expense insurance is well worth the money and is the best way to pay for your funeral expenses if you don’t have the cash to do so. However, a pre-paid burial would be a superior option if you can afford to pay outright for a funeral.
Final expense life insurance has no medical examination requirement. There are two types of plans; neither of them entails an exam. One type, simplified issue, requires you to complete a health questionnaire to qualify. On the other hand, guaranteed issue plans are another option that offers guaranteed approval because you don’t have to answer health questions.
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.
