Burial insurance in your 60’s is quite affordable.

Virtually every final expense insurance company offers coverage at this age range, so you’ll have plenty of companies to choose from.

Plus, most people in their 60s can secure a plan with no waiting period.

 

How Much Does Funeral Insurance In Your 60’s?

Coverage in your 60’s is very affordable. For example, a funeral insurance policy will cost a 50-year old about $32-$43 per month for $10,000 in coverage. At age 69, the same coverage will likely cost around $50-$66 monthly.

Please keep in mind that all forms of life insurance are priced based on the following factors:

  • Age
  • Gender (except in Montana)
  • Any tobacco usage
  • Health
  • Coverage amount

Below are some tables showing funeral insurance costs for each year of your 60s.

All the premiums you see are real. However, keep in mind that your specific insurability factors (mentioned in the list above) could lead to a different price than what you see in these tables.

If you want to see price estimates from multiple insurance companies, use the quoting tool on this page.

Burial insurance rates at age 60

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period $18 $32 $47$62
Female Tobacco & No Waiting Period$24$45$66$87
Female Guaranteed Acceptance$25$51$76$101
Male No Waiting Period $23$43$63$83
Male Tobacco No Waiting Period$31$59$87$116
Male Guaranteed Acceptance$32$63$95$126

Burial insurance rates at age 61

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$18$34$50$65
Female Tobacco & No Waiting Period$25$47$69$91
Female Guaranteed Acceptance$27$54$80$107
Male No Waiting Period$24$46$68$89
Male Tobacco No Waiting Period$33$63$93$123
Male Guaranteed Acceptance$34$68$102$136

Burial insurance rates at age 62

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$19$36$52$68
Female Tobacco & No Waiting Period$26$49$73$96
Female Guaranteed Acceptance$28$56$84$112
Male No Waiting Period$26$49$72$94
Male Tobacco No Waiting Period$35$67$99$131
Male Guaranteed Acceptance$36$72$108$145

Burial insurance rates at age 63

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$20$37$54$72
Female Tobacco & No Waiting Period$27$52$76$100
Female Guaranteed Acceptance$30$59$88$117
Male No Waiting Period$27$51$75$99
Male Tobacco No Waiting Period$37$70$102$136
Male Guaranteed Acceptance$39$77$115$153

Burial insurance rates at age 64

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$21$39$57$74
Female Tobacco & No Waiting Period$28$54$79$105
Female Guaranteed Acceptance$30$61$91$121
Male No Waiting Period$28$53$78$103
Male Tobacco No Waiting Period$37$72$107$142
Male Guaranteed Acceptance$41$81$121$161

Burial insurance rates at age 65

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$22$41$59$78
Female Tobacco & No Waiting Period$29$56$83$110
Female Guaranteed Acceptance$31$62$93$124
Male No Waiting Period$28$53$79$104
Male Tobacco No Waiting Period$39$76$112$149
Male Guaranteed Acceptance$43$85$127$169

Burial insurance rates at age 66

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$23$43$63$83
Female Tobacco & No Waiting Period$31$60$88$117
Female Guaranteed Acceptance$33$65$98$130
Male No Waiting Period$30$57 $83$110
Male Tobacco No Waiting Period$41$80$119$158
Male Guaranteed Acceptance$44$88$132$176

Burial insurance rates at age 67

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$24$45$67$88
Female Tobacco & No Waiting Period$33$63$93$123
Female Guaranteed Acceptance$34$68$102$136
Male No Waiting Period$31$60$88$116
Male Tobacco No Waiting Period$43$84$125$166
Male Guaranteed Acceptance$46$91$137$182

Burial insurance rates at age 68

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$25$48$70$93
Female Tobacco & No Waiting Period$34$66$97$129
Female Guaranteed Acceptance$35$70$105$140
Male No Waiting Period$33$63$93$123
Male Tobacco No Waiting Period$46$89$133$176
Male Guaranteed Acceptance$47$94$141$188

Burial insurance rates at age 69

GENDER & RATING$5,000$10,000$15,000$20,000
Female No Waiting Period$27$50 $74$98
Female Tobacco & No Waiting Period$36$70$104$137
Female Guaranteed Acceptance$37$73$109$145
Male No Waiting Period$35$66$98$129
Male Tobacco No Waiting Period$48$94$140$186
Male Guaranteed Acceptance$48$96$145$193

 

How Does Final Expense Insurance Work?

Final expense insurance is usually a small whole life insurance policy meant to cover the costs of a funeral. The payout is fast (typically 24-48 hours), so your loved ones can carry out your wishes.

Remember that final expense life insurance is also frequently referred to as burial/funeral/end-of-life insurance. All those expressions mean the same thing.

They are sold in small coverage amounts. With most companies, you can typically buy $2,000-$50,000, which is good since a funeral generally costs $10,000.

The fine print is minimal. A whole life final expense policy works as follows:

  • Guaranteed lifetime coverage
  • Prices never increase
  • Coverage will never decrease
  • Accrues cash value

Because it’s life insurance, the final result will be a fax-free cash payout directly to the beneficiaries of your choice. They can spend the money in any way. There are absolutely no restrictions on how the money is spent.

If they don’t spend all the money on your funeral, they keep the remaining amount.

 

Do Health Issues Matter?

Health issues heavily influence your options and what price you’ll pay for coverage.

In short, you can qualify for two types of burial insurance plans.

One type has health questions where your eligibility depends on your health history.

On the flip side, some plans have no health questions. Policies without health questions are called “guaranteed issue” because they guarantee your approval.

It’s essential that you understand the differences between these two options.

  • No health questions: You cannot be denied due to preexisting conditions. Simply put, your approval is guaranteed. These plans all have a two-three year waiting period for a death benefit payout. If you die during the waiting period, the insurer will not pay the death benefit. Instead, they will only refund your premiums plus interest. Also, these plans are typically the most expensive. Since the insurance company knows nothing about your health, they take on considerable risk. As is the case with all forms of insurance, the higher the risk, the higher the price.
  • Has health questions: These plans don’t’ require a medical exam, but you must answer questions about your health. If you’re approved, there is no waiting period. You’re insured for natural or accidental death upon making your first payment. Most of the time, these are the least expensive plans since the insurance company knows you don’t have certain high-risk health conditions.

Most health ailments are still eligible for coverage that has no waiting period. That’s not always the case, but most of the time, it is.

So for most people, it’s advisable to apply for plans that have a health questionnaire. That will lead to lower prices and immediate coverage.

Please note that guaranteed acceptance life insurance with no waiting period is a fake concept. There is no life policy anywhere in the world that asks no health questions and still offers immediate coverage.

 

Waiting Period Vs No Waiting Period

Some funeral insurance plans have a two-year waiting period before you’re insured, and some do not.

To get a life policy with no waiting period, you have to qualify for it. In essence, you must apply for a plan that requires you to answer questions about your health (no exam is needed).

Most health ailments are still eligible for no waiting period. However, there are some health issues where a waiting period is inevitable.

Below is a list of the most common conditions where you cannot qualify for a no waiting period policy.

  • Dialysis
  • Alzheimer’s or dementia
  • Cancer in the last two years
  • Wheelchair-bound
  • Bedridden
  • A resident of a nursing facility
  • ALS
  • Terminal illness
  • Diabetic coma, insulin shock, or amputation due to diabetes within the previous 12 months
  • Chest pains within the last 12 months
  • HIV or AIDS
  • Stroke or heart attack in the previous 12 months

There is a good chance you can get a policy with immediate coverage if you don’t have any of those conditions.

 

3 Of The Best Final Expense Insurance Companies For 60-Year-Olds

Please keep in mind that one insurance company cannot be the best option for everyone.

Every life insurance company had different pricing and underwriting. For this reason, it’s vital that you analyze multiple insurance carriers. Only then can you determine which one is best for you.

That said, below are three of the top burial insurance companies to consider if you’re age 60-69.

 

1) Mutual of Omaha

Mutual of Omaha is one of the USA’s largest and most financially sound life insurance carriers. If you’re in your 60s, you cannot beat their prices.

If you can medically qualify for their coverage, do it as soon as possible.

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 3 Business Days
Common conditions still eligible for no waiting period coverage:

 

2) Transamerica

Transamerica is an old and very financially stable life insurance carrier. Like Mutual of Omaha, they too have very low prices for people in their 60s.

They will even approve people for plans with no waiting period if they have chronic conditions such as COPD.

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:

 

3) Foresters Financial

Having been in business since 1874, Foresters Financial is one of the oldest life insurance companies that operates in the USA.

Their coverage is very price competitive, and their application gives you an underwriting decision within minutes.

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: $5,000-$35,000
(varies by age)
States Available: 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 Foresters Financial 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:

 

How Choice Mutual Can Help

If you’re looking for senior final expense insurance, it is imperative that you compare multiple insurance companies to ensure you’re getting the best policy for you.

That’s where Choice Mutual comes in.

We are an independent agency that represents over 15 different insurance companies. We compare offers from multiple carriers to find which one is best for you. Plus, most of the plans we have access to have no waiting period.

Regardless of your age, call us, and we’ll answer all your questions and ensure you get the best policy at the best price possible.

You can read hundreds of positive reviews from our past customers who have worked with us.