Final Expense Insurance

Best Burial & Final Expense Insurance For Seniors

Burial insurance for seniors is an easy-to-qualify-for whole life insurance policy that provides a quick cash payout typically within a few days to ensure your funeral costs don’t burden your family.

Some companies have a 2-year waiting period, but many offer immediate coverage with no waiting period whatsoever.

In this article, we’ll show you rates, applications, how to get immediate coverage, top companies, and more.

What’s Covered In This Article


What Is Burial Insurance For Seniors?

Burial insurance for seniors is a no-exam required whole life insurance policy with lenient underwriting, so seniors with health issues can still qualify.

They’re meant to cover all the costs of a funeral. Coverage ranges between $2,000- $50,000, and premiums are usually $50-$150 monthly depending on gender, age & coverage bought.


Signing up for seniors funeral insurance

The thing to understand is that “burial insurance” is just a marketing term coined about 30 years ago. Instead of saying, “Hey, we offer small whole life policies that accept folks with health issues,” they decided to call it “burial insurance” because it was easy for people to understand what the insurance was for.

Also, you will frequently see the terms “funeral insurance” and “final expense insurance for seniors” used interchangeably with the term “burial insurance.” You’ll see the term “cremation insurance policy” as well.

All of these terms mean the same thing. Depending on what website you look at or which insurance company you speak with, you will see any one of those three terms.


Here’s the fine print

Because these are whole life insurance policies, burial insurance for seniors is very cut and dry.

It’s as simple as picking a death benefit, which will have a corresponding monthly payment.

When your day comes, your beneficiary will receive a tax-free check equal to your death benefit. This gives them the money to pay for your final expenses. If there is any money left over, that money stays with them to use as they see fit.

The following statements will be true no matter which insurance company issues your burial policy:

  • Monthly payments are fixed for life and cannot increase for any reason.
  • Coverage cannot decrease for any reason.
  • The policy will not expire at any age for any reason.
  • Cash value accumulates, which you can borrow from as a loan against the policy.

That’s all there is to know about these plans. There is no clause hidden somewhere that says your payment will adjust one day or that your coverage will end.


What Does Final Expenses Insurance For Seniors Cost?

Senior burial insurance costs will vary depending on the company you choose and the amount of coverage you get.

But to give you an idea of what to expect, we’ve provided some senior funeral insurance quotes below. These are real final expense quotes from one of the insurance companies that we represent.

talking numbers: Breaking down seniors’ funeral insurance costs

You’ll see rates for $5,000, $10,000, $15,000, and $20,000 in coverage, but you should know that you aren’t limited to just these amounts.

You can purchase as little or as much coverage as you’d like.

Know that you aren’t limited to just these amounts. You can purchase as little or as much coverage as you’d like 😎.

Use the quote tool on this page if you want to see prices for other face amounts such as $25000 or another amount.

Please keep in mind the following as you view these rates:

  • These prices cannot increase.
  • The coverage cannot decrease.
  • The policy cannot expire at any age.


Click on one of the links below to jump to the face amount you’re interested in. You can also use the quoting tool on this page to run quotes for any face amount you desire.

$5,000 | $10,000 | $15,000 | $20,000


Seniors’ Funeral Insurance Costs: $5,000

*** Rates stay the same forever & policy never expires ***


Funeral Insurance For Seniors Costs: $10,000

*** Rates stay the same forever & policy never expires ***


Seniors’ Funeral Insurance Costs: $15,000

*** Rates stay the same forever & policy never expires ***


Seniors’ Funeral Insurance Costs: $20,000

*** Rates stay the same forever & policy never expires ***



Some Of The Best Senior Burial Insurance Companies

Make no mistake about it; dozens of life insurance companies in the USA offer burial policies.

However, they aren’t all equal.

We’ve taken the liberty of showing you 10 of the absolute best final expense life insurance companies.

You might be wondering…

How did we select these companies?

We looked at the following to decide which companies made the list of best companies:

  1. Price
  2. Underwriting
  3. Financial stability

Burial Insurance For Seniors

For starters, every single one of these companies has at least an “A” rating with A.M. Best. There’s not one company on this list that isn’t completely trustworthy.

You could have a plan with any of them and feel completely comfortable they will pay your claim when the time comes.

Outside of financial stability, each of these carriers is uniquely competitive regarding underwriting and price.


In business since 1909

Plan options: Level & Graded

Face amount options: $2,000-$40,000

Age Limits: 45-85

Mutual of Omaha Living promise has some of the lowest rates on burial policies for seniors. This is particularly true for seniors over 80 shopping for life insurance.

Their graded plan is rarely your best option. If you don’t qualify for their level plan, you’re probably better off applying with another company altogether.

On a side note, Mutual of Omaha also offers really inexpensive whole life insurance for babies if that’s something you’re interested in.

Unless you have recent heart attacks, strokes, cancer, or major chronic illnesses/diseases, there’s a good chance you will qualify for their final expenses insurance. Seniors who are accepted get immediate coverage that has no waiting period.


Burial Insurance For Seniors

In business since 1874

Plan options: Level, Graded, & Modified

Face amount options: $2,000-$35,000

Age Limits: 50-85

Foresters Financial is one of the largest players in the final expense business. They offer very competitive premiums combined with liberal underwriting.

Nobody should ever buy their Modified plan. Their graded plan only pays out 30% of the death benefit during year 1 and 70% during year 2, but it sometimes has its place. Their level plan is an excellent, well-priced choice for those who qualify and come with full day one coverage.

They are probably the friendliest burial insurance company for applicants that deal with mental health issues such as Bi-Polar Disorder, Depression, Schizophrenia. They are also very well suited for seizure issues, take blood thinners, or have type 1 or 2 diabetes.



Burial Insurance For Seniors

In business since 1904

Plan options: Preferred, Standard, & Graded

Face amount options: $1,000-$50,000

Age Limits: 50-85

Transamerica is one of the few companies that has two plans that come with instant coverage. Both of their Preferred and Standard plans come with no waiting period.

Unfortunately, their Graded plan does not. It comes with a full two-year waiting period. It’s kind of irrelevant, though, since nobody should ever buy their graded plan.

Price-wise, they are competitive for most ages. Where Transamerica really shines is for folks who have COPD. They are one of the few carriers that offer full first-day coverage for COPD patients.


Burial Insurance For Seniors

In business since 1895

Plan options: Level & Graded

Face amount options: $5,000-$25,000

Age Limits: 50-85

The most liberal funeral insurance on the market, Royal Neighbors, offers underwriting to absorb some serious risks.

Their graded plan has very few ideal applications, but they do occur. Their graded plan will payout 30% of the death benefit during the first year and 70% during the second year. Their level plan has no waiting period.

Royal Neighbors is hands down the best burial insurance for seniors with diabetes on the market. They offer immediate coverage and rock bottom prices to folks with type 2 diabetes, neuropathy, or anyone who is severely overweight.

They also have no issues with things like blood thinners or any mental health disorder.


burial insurance for seniors

In business since 1910

Plan options: Level, Graded & Modified

Face amount options: $2,500-$35,000

Age Limits: 50-85

f you’ve ever watched HGTV’s Fixer Upper, set in Waco, Texas, you may have spotted a tall building with an “ALICO” sign. That’s the home office of American-Amicable.

They do have the best funeral insurance for seniors in some situations. For example, folks who have mental health issues such as anxiety, depression, bipolar disorder, or schizophrenia can all get rock-bottom rates and full day-one coverage.

Their tobacco rates are among the lowest in the nation, so American Amicable is an excellent choice if you smoke. Also, pipe and cigar users can get a non-tobacco rating. That could save you as much as 40% on your monthly premium!

They are a strong carrier with a final expense program that is a superior choice for many different people.


burial insurance for seniors

In business since 1972

Plan options: Level, Graded, & Modified

Face amount options: $1,500-$35,000

Age Limits: 50-80

Prosperity has tons of underwriting niches where they offer unmatched value. To put it plainly, there are many situations where they offer immediate coverage to folks who would likely receive a two-year waiting period with most other carriers.

Another great thing about Prosperity is they make it easy for you to buy coverage on someone else when the two parties live in separate locations.

For example, we are often asked questions like can I get life insurance on my grandmother when we don’t live together? The answer is yes, you can.

Prosperity makes it easy because they have a phone application where everything can be done over the phone with no paperwork required.

One of the biggest value propositions they offer is when someone uses non-cigarette tobacco or nicotine. These folks can secure a non-tobacco rating with Prosperity. That can save you up to 50% on your premiums.

Applying with Prosperity is easy too. It’s a simple phone application where you’ll get an immediate underwriting decision. Generally, in less than 15 minutes, you’ll know if you have been accepted.

It’s certainly possible they could be the best company for you. It just depends on your health. No matter your health, though, if you have coverage through Prosperity, you can feel confident you’re getting a good plan at a competitive price.


Burial Insurance For Seniors

In business since 1919

Plan options: Guaranteed Issue

Face amount options: $5,000-$25,000

Age Limits: 50-80

AIG’s final expense policy is guaranteed issue, so there are no health questions. AIG’s final expense insurance is identical to Gerber Life. The only difference is the monthly premium.


Burial Insurance For Seniors

In business since 1958

Plan options: Preferred, Standard, & Modified

Face amount options: $3,000-$30,000

Age Limits: 50-85

Although not a household name, Liberty Bankers Life offers a unique final expense program. They are among the few companies that offer full first-day coverage (no waiting period) for COPD, liver cirrhosis, chronic kidney disease, systemic lupus, Hepatitis (must be treated), or Parkinson’s disease.

They offer three different plans that accept a wide variety of health issues. Just know that their modified plan comes with a full two-year waiting period and is rarely a good option for anyone.


Burial Insurance For Seniors

In business since 1909

Plan options: Eagle Premier

Face amount options: $2,000-$30,000

Age Limits: 50-85

Americo’s Eagle Premier plan is unique. It’s very rare to only ask about heart attacks, strokes, & heart or circulatory surgeries within the last 12 months. Most carriers look back 24 months on these health issues.

They will also accept many high-risk conditions that other carriers will not, such as Lupus or Parkinson’s Disease.


In business since 1967

Plan options: Guaranteed Issue

Face amount options: $5,000-$25,000

Age Limits: 50-80

Gerber Life’s final expense policy is one with no health questions. Your acceptance is guaranteed. Because your acceptance is guaranteed, there is a two-year waiting period (all guaranteed issue plans have a 2-3 year waiting period).

If you passed during the waiting period, Gerber would refund all payments made plus 10% interest. After the waiting period, the full amount is payable for any reason moving forward.

Guaranteed issue coverage is not suitable for most people, but Gerber is an excellent choice when it is.


Sample Policies & Applications

Just below, you can click to see the actual applications from each company along with a sample policy (if available).

Just remember, you can’t fill these applications out and send them in. In fact, all these insurance companies (except Gerber & AIG) will not allow that.

To apply, you have to work with an agency such as Choice Mutual.


How To Get Immediate Final Expense Insurance For Seniors With No Waiting Period

To get a policy with immediate coverage and no waiting period, you must apply with a company where you do answer health questions (no exam required) and are subsequently approved.

All no-health-questions final expense policies have a mandatory waiting period of two to three years. There are no exceptions to that rule.

This is why we say that to get immediate coverage, you must apply with a carrier that requires you to answer health questions.

But here’s the good news: For most people, there’s at least one company out there that will approve you for immediate coverage.

The next question is usually, “Which one is it?”

Well, that’s where we come in. You’re going to need an agency that has access to dozens of carriers (we do), so they can check them all to see which will approve you for immediate coverage.

There’s no way you can figure this out on your own. You’d need to know the underwriting from 15+ carriers to determine if you’re eligible for immediate coverage with someone. Only agents know all of that.

If you want no-waiting-period coverage, call us, and we’ll figure out if it’s possible in less than 60 seconds. Our toll-free number is 1-800-644-2926.


How to Find the Best Burial Insurance For Elderly People

To find the best final expense insurance, seniors need to work with an independent final expense agency representing lots of insurance companies. An independent agency can evaluate offers from many companies to see which one is best for you.

Finding the best burial insurance for elderly people provides peace of mind

Let’s get a couple of things straight that most people are unaware of:

  • Life insurance rates are not different if you buy “direct.” By law, the rates must be equal whether you buy from an agent or directly from the insurer.
  • If you buy burial insurance coverage directly from the insurer, it will likely be guaranteed issue final expense coverage. These policies have no health questions, and they always come with a two-year waiting period.


Why working with an independent agency is better.

The least expensive final expense life insurance is not sold directly by the insurance carrier: It’s sold through agencies.

Furthermore, the only way to obtain final expense insurance with no waiting period is to buy a policy through an agency. You can’t get immediate coverage with seniors’ funeral insurance when you buy directly from the insurer.

Ultimately, working with an agency gives you access to the lowest rates on policies that come with full day-one coverage. It’s just like shopping around: The only difference is that the agency you work with is the one doing all the shopping for you.

Whether you’re looking to buy your parents’ life insurance or get coverage for yourself, you simply must work with an independent agent.


How do you select which agency to work with?

Look for an independent agency that has the following qualities:

  1. They represent no fewer than 10 different burial insurance companies (the more, the better).
  2. Burial insurance is their focus. This type of insurance can be a bit tricky at times, so working with experts is critical to getting the best policy. This is especially true if you have preexisting conditions.
  3. Experience matters. You want to work with an agency that has been operating for at least two years.

An agency that meets these requirements is an agency equipped to find you the best senior burial policy.


Why Choice Mutual can get you the best senior final expense life insurance plan, guaranteed.

  1. We work with more than 20 final expense insurance companies, and we’ll compare all offers to see which one is best for your individual situation.
  2. All we do is burial insurance. You’re dealing with true experts here: We don’t deal with any other type of insurance.
  3. We’ve completed thousands of applications over the years. Our wide-reaching experience means we know which carriers will accept you and which ones will not.
  4. Our recommendation will be whichever company is best suited for you. We aren’t married to any particular company: All we care about is finding the policy that’s best for you.

Don’t believe us? Check out what our customers are saying about us on Google or our Facebook page, or check out some of these reviews below from Trustpilot.

Those customers are happy for a reason!



The Top 10 Best Features Of Final Expense Life Insurance For Seniors

Nobody wants to leave their loved ones with the burden of unpaid funeral expenses. Funerals are expensive, and a bill that large can put your family in a dire financial situation.

Thankfully, burial policies for seniors offer you a way out. Other than the obvious peace of mind, below are the top 10 reasons seniors’ final expense insurance offers a value that cannot be matched.

  • Extremely relaxed underwriting
  • Fast approvals
  • Small face-value options
  • No exams
  • No-health-question options
  • Permanent coverage
  • Cash value
  • Many carrier options
  • Fast claims payout
  • Portability


Extremely Relaxed UnderwritingBurial Insurance For Seniors

The insurance companies designed these plans to absorb the risk of some serious health issues. Quite frankly, it’s only natural to develop some health challenges as you age.

The insurance companies were well aware of this, so they built these plans to ensure that seniors with preexisting conditions could still qualify. To be perfectly frank, it’s extremely uncommon for someone not to qualify. It’s usually only very life-threatening health issues such as cancer, recent heart attacks, recent strokes, Alzheimer’s/dementia or CHF that may preclude you from qualifying.


Fast ApprovalsBurial Insurance For Seniors

In most cases, we can secure an official approval in less than 20 minutes. The longest you will ever likely have to wait for your application to be approved is a few business days, but most companies offer instant approvals.


Small Face Value OptionsBurial Insurance For Seniors

Want to buy only what you need? If so, with senior burial insurance, you can buy as little as $1,000 in coverage. Traditional life insurance plans typically require you to buy at least $50,000 in coverage. You can buy only what you need!


No ExamsBurial Insurance For Seniors

No funeral insurance company will require you to undergo a physical or medical exam. These policies are always completed on a simplified basis. That means you only answer health questions (some actually have no health questions 😯). That’s it.


No Health Question Policies Available Burial Insurance For Seniors

Granted, these kinds of funeral insurance policies are a last resort. They do have the place. These plans are commonly referred to as guaranteed issue life policies.

They have no health questions, and they don’t inquire about your health in any way. Everyone is guaranteed to be approved.

There are drawbacks, however, which is why you only use these as a last resort. First, they do cost more. The insurance company is taking on much more risk, which is why they must charge more.

Also, they always come with a 2-year waiting period. If you die during this time, they will simply refund all your premiums plus interest.


Permanent CoverageBurial Insurance For Seniors

Because senior final expense life insurance plans are whole life policies, they are locked in for life. Your coverage cannot expire at any age, the premiums cannot increase, and the coverage cannot decrease.

In short, once you get your policy, it will never change, and it will always be there to ensure your family has the money to pay for your final expenses.


Cash ValueBurial Insurance For Seniors

Every whole life burial policy for seniors will accrue cash value over time. You can elect to borrow this money in the event life throws you a financial curveball. There is even an option you can select when you complete the application to have your cash value act as a safety net to ensure your policy never lapses due to nonpayment. Basically, the policy will use the cash value to make the payments and continue doing so for as long as there is sufficient cash value to sustain the payments.


Many Carrier OptionsBurial Insurance For Seniors

The final expense market is hot right now. It’s probably because 10,000 seniors are turning 65 every day! Ultimately, there are dozens of life insurance companies that offer burial insurance policies. More choices are a big win for the consumer.

They are all competing with one another which drives prices down. More importantly, they all have unique underwriting. That means there is likely at least one insurer out there that will accept all your health issues. The question is usually- which one is it?


Fast Claims PayoutBurial Insurance For Seniors

Since final expense policies are purchased to pay for funeral and other final expenses, the funds must be received rather quickly. Traditional life insurance plans can take months to payout, but that is not the case with final expense insurance. Once the proper paperwork is received, you could see your claim paid within a week (contestability will extend the claims-paying process).


PortabilityBurial Insurance For Seniors

In the end, funeral insurance for seniors is a form of life insurance which means they pay out cold hard cash upon death. Your beneficiary will receive a tax-free check equal to the face amount of the policy.

Want to know something awesome?

Every funeral home will take cash! No matter where you go or what services you prefer, you can have it because they all take cash. You are not bound to any geographical location. You can rest easy knowing that if you move that your policy will not be compromised.



FAQs About Funeral Life Insurance For Seniors

Below are some common questions we get about these plans, along with the answers.

Side Note: If you have a lingering question about these policies not listed here, please let us know! Send us your question at info @, and we will update this article along with the appropriate answer within 3 business days.

Burial Insurance For Seniors

Q: What is cash value?

A: Cash value in any life insurance policy is like a behind-the-scenes savings account that accumulates value over time. Basically, every time you make a payment, a portion of your payment goes towards the cost of insurance, and a portion goes into this little savings account called the cash value. You may elect to borrow from this cash value.


Q: How does a policy loan work?

A: As noted in the question above, your policy will accrue cash value over time. You are entitled to borrow from these accrued funds. When you do so, the money you borrow is considered a loan against the policy, and the insurance company will charge interest on the loan. Every company has different interest rates, but most are within a 5%-10% range.

Here’s the thing to understand about loans

Any outstanding loans on your policy will reduce your death benefit accordingly. That means if you have a loan out on your policy and you pass away, your death benefit will be reduced by the total amount of the outstanding loan.

This is key with loans…

You must work towards paying back your loan if you ever take one. Remember, interest will always accrue, which increases the total value of your loan. If you never pay it back, the loan will forever grow, which reduces your death benefit. The last thing you would want is for your family not to be left with enough money to pay your final expenses because you had an outstanding loan you never took care of, and it ate away a good portion of your policy’s value.

An honest Choice Mutual Tip: You should not take out a burial insurance policy because they build cash value you can borrow from. You should take them out because they offer instant peace of mind, fixed monthly payments, and lifetime protection that will not expire. If that doesn’t interest you, burial insurance is not for you. Policy loans are great when you need them, but make sure you take them seriously by paying a little extra each month to pay down the loan.


Q: What is the automatic premium loan provision (APL)?

A: This is a free provision that you can elect to have on your policy that will act as a safety net, so to speak. You must select this option at the time of the application. You cannot retroactively enable this provision after the policy has been issued.

If you have this option included in your policy, the APL will make a premium payment for you should your regular payment not successfully process for any reason. The premium payment made by the APL will come from your policy’s cash value account and will continue to do so for as long as there is sufficient cash value to keep it in force. Any APL payments made will count as a loan against the policy, which is subject to interest. An APL loan has the same effect on your policy as a loan you chose to pursue.


Q: What does a burial policy cover?

A: Burial insurance covers the costs associated with burial, cremation, and funeral services, which can add up to thousands of dollars.


Q: Is there an age limit for funeral insurance plans?

A: Yes, most companies have age limits for burial insurance. Typically, the minimum age is around 45 or 50, and most policies are limited to people 85 or younger. There are a few options for people between 86 and 90, but you will be required to answer health questions, and acceptance is not guaranteed.


Q: Can I buy burial insurance for my mother or father?

A: Yes, you can purchase burial insurance on behalf of a relative.


Q: What is the contestability period?

A: This provision is present in every life insurance contract, no matter what type of life insurance you buy or which company you buy it from. There are no exceptions to this rule.

The contestability provision entitles the insurance company to investigate any death claim that occurs during the contestability period. The contestability period is usually two years. In some states, it’s only 1 year. Furthermore, some states disallow insurers to contest claims when you replace a life insurance policy.

Basically, the insurer will gather your doctor records to verify that you did not misrepresent your health at the application time. They are just trying to make sure that you didn’t withhold information about your health that would have prevented your insurability in the first place.

Should an insurer find information that would have caused them not to issue the policy in the first place, they will rescind the policy. When this happens, they will not pay the death claim. Instead, they will merely return all the premiums you had ever paid into the policy (FYI, the agent who sold you the policy will have to pay back all their commissions too 😮).

If they contest a claim and do not find any information that conflicts with the information you presented at the time of the application, they by law must pay the claim, and they will.


Q: How long do contestable claims take to get paid?

A: This depends on a few factors. The insurance company will request medical records from your physician(s). Once they receive all the required information, they are required by law to decide on the claim within 30 days.

Here’s the thing

Contestable claims can take 30 days. Then again, they can take 6 months. The determining factor is how long it takes for the insured’s physician(s) to deliver the insured medical records to the insurer. As long as there are outstanding records, the insurance company cannot process the claim.

We always encourage beneficiaries to daily call each doctor to encourage them to return the records to the insurer to process the claim. In addition, when one of our clients passes away during the contestability period, we also call to apply pressure on the doctor’s office.

Ultimately, the quicker the medical records are received, the quicker the claim can be paid.