Kentucky Burial insurance plans can help ensure your funeral bills don’t become a financial burden to your surviving loved ones.

Learn how these policies work, the cost, and the best companies in Kentucky.

 

How Does Burial Insurance Work?

Final expense insurance is a type of life insurance meant to pay for your funeral and other final expenses.

It’s a small whole life policy with coverage options between $2,000-$40,000 with most providers.

It’s life insurance, so the final result upon the insured’s death will be a tax-free cash payment to your loved ones or a funeral home.

Your family can spend the month on funeral bills, debts, medical bills, or anything else.

Tip:
Burial insurance is commonly also called “final expense insurance” or “funeral insurance.”

Because it’s a whole life policy, you can rest assured that the coverage will never increase in cost, decrease in value or expire at any age.

It will also accrue cash value that the policyholder may withdraw at any time they want.

Final expense insurance for seniors does not require a medical exam.

There are two basic options. Some policies have health questions, and some don’t.

Plans with health questions can cover you immediately for natural or accidental death. Additionally, they are the cheapest plans you can buy.

On the flip side, plans without health questions are called guaranteed life insurance policies.

You cannot be denied because of prior health conditions.

The guaranteed approval feature comes with two significant drawbacks. First, no health questions policies are more expensive.

The insurer must charge more because they know nothing about your health.

The other drawback is that there is a two-year waiting period.

If you die within the first two years, the insurer will only refund your payments plus a small amount of interest (typically 10%).

 

How Much Does Funeral Insurance In Kentucky Cost?

Burial insurance in Kentucky typically costs $50-$100 monthly for a $10,000 policy.

But understand that your price may differ depending on your age, health, gender, and the amount of coverage you purchase.

The table below has some monthly sample final expense prices for Kentucky.

 

AgeFemale
$10,000
No Waiting Period
(Monthly Rates)
Female
$10,000
Guaranteed Acceptance
(Monthly Rates)
Male
$10,000
No Waiting Period
(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
86-89$171-$275N/A$236-$358N/A

 

Best Final Expense Life Insurance Companies In Kentucky

States, not the federal government, regulate and control insurance.

For that reason, final expense insurance in the USA varies from state to state.

The table below has the top burial insurance companies in Kentucky.

 

Insurance CompanyCoverage & New
Applicant Age Limits
Policy Type, Length
& Product name
Mutual of Omaha company logoCoverage:
$2,000-$40,000
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)
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:
$1,500-$35,000
Age Range:
50-80
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)
Americo company logoCoverage:
$5,000-$40,000
Age Range:
50-85
Whole Life Insurance
Lasts forever once issued
"Eagle Premier"- Level
(no 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-$25,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"Silver Guard I"
(no waiting period)

 

How Much Does A Funeral Cost In Kentucky?

According to the National Funeral Directors Association, the average funeral costs nearly $10,000, which includes a burial, vault, and viewing.

The average cost of cremation is close to $7,000 (with a viewing)

But you can save quite a bit of money if you choose to go with a direct burial or cremation.

A direct funeral has no memorial services of any kind.

Below is a complete breakdown of the average funeral cost in Kentucky:

  • Traditional burial service with a viewing: $7,271
  • Direct burial: $3,595
  • Cremation service with a viewing: $6,314
  • Direct cremation: $2,022

 

Know Your Rights

The state of Kentucky mandates that all life insurance policies include a free look provision that lasts ten days.

During this time, you can return your policy for any reason. Furthermore, you’re entitled to a refund of any premiums paid.

If you buy funeral insurance in Kentucky and regret it, you can get out of it and get your money back.

 

How Choice Mutual Can Help

It’s always helpful to check with multiple life insurance companies when looking for burial insurance.

If you need final expense insurance in Kentucky, Choice Mutual can do the comparison shopping for you.

We are an independent broker representing over 15 different insurance providers.

After learning a little about you and your needs, we’ll find which carrier will offer you the best policy.

Tip:
Working with an independent agency is free, and the insurance does not cost more.

Another advantage to working with a broker is that you have access to burial insurance plans with no waiting period.

Immediate coverage policies are generally only sold through agencies like Choice Mutual.

If you need final expense insurance, call us at 1-800-644-2926. We’ll help you find the best deal possible.