Choice Mutual Rating

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.

Prosperity Life final expense insurance for seniors offers competitive premiums and lax underwriting.

For that reason, most seniors will qualify at an affordable price.

Learn how their coverage works, the cost, pros & cons, and if their burial insurance is worth buying.

How Does Prosperity Final Expense Insurance Work?

Prosperity Life burial insurance, aka final expense or funeral insurance, is a no-exam whole life policy to cover your final expenses.

While no medical exam is required, you do have to answer health questions.

Also, Prosperity will review your prior medications to give them a clear picture of your overall health history.

The premiums will not increase, the face value won’t decrease, and the policy lasts forever.

Also, cash value will accrue over time since it is a type of whole life insurance.

When you die, Prosperity will pay your beneficiaries the death benefit as a tax-free cash payment.

Your loved ones can spend the proceeds on anything, including outstanding credit card debts or medical bills (not just funeral costs).

The money they don’t spend on funeral costs is theirs to keep and use as they see fit.

Prosperity final expense life insurance has three health ratings that could potentially qualify for:

  • Level: The level benefit is the lowest cost option they offer, and it has no waiting period.
  • Graded: The graded benefit costs more than the level plan and has a partial waiting period. Death during the first 12 months would yield a 30% death benefit payout. Death during months 13-34 would yield a 70% payout. After two years, the full death benefit will pay out.
  • Modified: The modified plan is the most expensive and has a full two-year waiting period. Death during year one will result in a refund of 110% of your premiums. Death during months 13-24 would result in a refund of 231% of your premiums.

Burial insurance from Prosperity Life Group is only sold via agencies licensed to sell their products.

Coverage DetailsLevel BenefitGraded BenefitModified Benefit
Policy TypeWhole Life Insurance
Policy DurationLifetime
Fixed PremiumsYes
Builds Cash ValueYes
State AvailabilityAll states except CT, MT, ND, NY, SD, SC
New Applicant Age Range55-80
Coverage Options$5,000-$35,000
Free Built In RidersTerminal illness
Optional RidersAccidental Death (2X the payout for accidental death)
Where to ApplyAgencies licensed to sell Prosperity Life products (you can't buy this plan directly from them)
Phone Number to Apply1-800-644-2926
Medical Exam RequiredNo
2-Year Waiting PeriodNo
(subject to underwriting approval)
1st Year: 30% payout
2nd Year: 70% payout
1st Year: 110% of premiums
2nd Year: 231% of premiums
Application Approval Time10 Minutes
BrochureProsperity Final Expense Brochure
Sample ApplicationProsperity Final Expense Application


How Much Does Prosperity Life Funeral Insurance Cost?

The cost of Prosperity’s final expense insurance is based on your gender, exact age, health if you’ve smoked cigarettes within the last months, and how much coverage you buy.

That being said, the tabling below outlines some sample burial insurance rates for their coverage.

The prices shown in the whole life rates chart by age are monthly and for $10,000 in coverage.


50F: $30.95
M: $36.32
F: $41.70
M: $50.24
F: $75.86
M: $78.90
55F: $31.73
M: $39.42
F: $46.67
M: $63.41
F: $81.15
M: $93.96
60F: $37.68
M: $47.57
F: $54.14
M: $78.79
F: $97.28
M: $115.76
65F: $46.22
M: $59.90
F: $69.69
M: $97.43
F: $104.42
M: $126.85
70F: $60.93
M: $81.38
F: $87.84
M: $117.29
F: $120.85
M: $155.87
75F: $81.99
M: $115.48
F: $125.14
M: $167.35
F: $138.74
M: $195.95
80F: $100.10
M: $149.76
F: $182.07
M: $235.06
F: $190.30
M: $296.79


Pros & Cons Of Prosperity Final Expense Life Insurance

The Good
  • The level benefit has no waiting period
  • Only a health questionnaire is required to qualify (no exam necessary)
  • Non-cigarette tobacco users qualify for non-tobacco prices
  • Approvals take roughly 10 minutes
  • Accepts Direct Express cards as a payment method (most companies don’t)
  • Fair prices relative to other providers
  • There’s only a handful of states where the product isn’t available
  • Permanent lifetime coverage that will never increase in cost
  • Very liberal underwriting that will accept most seniors
The Bad
  • Other companies offer cheaper rates
  • The modified plan is very expensive
  • Antipsychotic medications (for any reason) will result in the graded plan being offered
  • No guaranteed issue option


Is Prosperity Burial Insurance Worth Buying?

Prosperity funeral insurance is excellent if you need life insurance to cover your final expenses.

Prosperity made our list of the top burial insurance companies for two primary reasons.

Remember, no single company can be the best option for everyone. It’s important to compare multiple providers to find the best policy.

First, their rates for their level plan are in line with most other providers.

They aren’t the cheapest company like Mutual of Omaha, but their prices are very often close to the lowest.

Secondly, their underwriting is built to accept most applicants with pre-existing conditions.

It’s scarce that someone will not qualify.

The graded plan is a good partial coverage option for high-risk conditions such as chronic kidney disease.

The modified plan is not a good buy because it’s too expensive. If the modified plan is all you can qualify for, you’d be better off just buying a guaranteed issue policy.

The table below outlines many typical health issues where you’d still be eligible for no waiting period coverage with Prosperity.

Common conditions still eligible for no waiting period coverage:

Blood clots
Blood thinners
Cancer > 3 years ago
Circulatory surgery > 2 years ago
Crohn’s disease
Diabetes (type 1 or 2)
Diabetic amputation > 2 years ago
Grave’s disease
Heart attack > 2 years ago
Heart surgery > 2 years ago
High blood pressure
High cholesterol
Insulin shock > 2 years ago
Multiple sclerosis
Pacemaker (installed > 2 years ago)
Sleep apnea
Squamous/basal cell skin cancer
Stroke/TIA > 2 years ago


Prosperity Life Group Company Background

Prosperity Life Group has been offering life insurance for over 75 years.

Their member companies include:

  • SBLI USA Life Insurance Company Inc.
  • USA Life Insurance Company Inc.
  • Shenandoah Life Insurance Company

Prosperity currently has an A- (Excellent) rating from A.M. Best with a stable outlook.

Their contact information is below:

  • Website:
  • Phone: 1-866-787-2123
  • Corporate address: P.O. Box 1050 Newark, NJ 07101-1050

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. Prosperity Life Group.
  2. A.M. Best.