Are you wondering if you should buy Lumico final expense insurance?

Well, you came to the right place.

In this article, we break down their underwriting, show you their rates, and compare them to other top final expense companies.

How Does A Lumico Final Expense Policy Work?

Lumico’s final expense life insurance is a whole life insurance policy.

Since all whole life insurance plans work the same way, it’s easy to understand the details of their policy.

Here’s what you need to know.

  • Monthly payments can’t increase
  • Policy won’t expire
  • Death benefits won’t decrease

As is the case with all types of life insurance (from any company), Lumico’s funeral insurance policy will simply pay out a tax free cash benefit.

This will give your family the cold hard cash necessary to pay for your final expenses. If there happens to money leftover after the funeral bills have been paid, that money would simply stay with you.

You can buy final expense from Lumico in all states except for CA, DC, DE, FL, ME, MT, ND, NY, & SD.


There Are 3 Plans Available Based On Your Health

As is the case with most final expenses life companies, Lumico has a few different plans you can qualify for based on your health.

Most of the time, their insurance is markted through National Family life insurance company.

How you answer their health questions combined with your prescription history will determine which plan (if any) you qualify for.

All plans have their own pricing, payout schedules and face amount options.


  • Face amount options: $5,000-$30,000
  • Payout schedule: Immediate (no waiting period)
  • Age availability: 50-85


  • Face amount options: $5,000-$30,000
  • Payout schedule: 25% during year 1, 50% during year 2, 75% during year 3, 100% after 3 years
  • Age availability: 50-85


  • Face amount options: $5,000-$15,000
  • Payout schedule: 10% during year 1, 25% during year 2, 50% during year 3, 100% after 3 years
  • Age availability: 50-80

Lumico Burial Insurance Quotes

Below you will see real funeral insurance quotes for their coverage. Quite honestly, they did a good job pricing their product.

Their rates are competitive relative to what other burial insurance companies charge.

Please remember the following as you view these rates:

  • Prices shown are for their preferred plan & a non-tobacco rating. If you say yes to any of their health questions or the tobacco question, your price would be a lot higher.
  • You are not limited to only these face amounts.
  • You can compare Lumico’s prices to other carriers by running quotes on our site. You’ll see how they stack up to dozens of other carriers in your state.


Here’s How They Underwrite

Lumico does not require you to undergo a physical or medical exam to apply for their final expense coverage.

To qualify, they will analyze these three sources:

  • Answers to their health questionnaire
  • Your prescription history
  • Your MIB file

By far the biggest factor that influences whether or not you’ll be approved for any of their plans is how you respond to the health questions.

Depending on which question you say yes to (if any) may result in a decline, a standard or modified offer. If you say no to all of them, you should qualify for their preferred plan.

In addition to the health questions, they also check your medication history. They do this to validate what health issues you’ve been treated for in the past.

If you have any prescriptions for health issues consistent with the conditions asked about on the application, they may respond adversely.

For example, if you say no to COPD but you are taking medications for COPD, they will likely respond with an offer consistent with someone who has COPD.

Last but not least, they will also analyze your MIB file. This file has any information you have revealed to other life and disability insurance companies.

For example, if you told another company that you smoke or have cancer, that information will be in your MIB file. Depending on the date, that could affect the outcome of your Lumico funeral insurance application. It just depends on what data they find (if any) in your MIB file.


Here are the health questions

If you say no to all the questions on the application and your prescription history confirms you indeed do not have any of these conditions, you should qualify for their preferred plan.


The first two questions are the decline questions. If you say yes to either of these, Lumico will out right decline you.

  • You currently in a nursing facility, hospital, bedridden or on hospice?
  • Have you been diagnosed with a terminal medication condition that will likely cause death in the next 12 months?

This next set of questions are their modified questions. Any yes answer to these will result in them offering you their modified plan

  • You use any oxygen for any respiratory issue?
  • Have you been advised to have any pending hospitalizations, diagnostic tests, surgeries, or other procedures that haven’t yet been completed or for which results are still unknown?
  • Do you need any help with activities of daily life (dressing, bathing, toileting, eating, etc)?
  • Have you ever been diagnosed had surgery or been treated for a condition that requires a bone marrow or organ transplant, dialysis, Alzheimer’s or dementia, mental incapacity, ALS, HIV or AIDS, congestive heart failure or cardiomyopathy?
  • Were you diagnosed with diabetes before age 40?
  • Do you have diabetes in combination with any circulatory or heart condition?
  • In the prior year, have you had or been treated for a heart attack, heart blockage, stroke, mini stroke (TIA attack), or heart valve disorder, lung disease (does not include mild asthma), any form of cancer, lymphoma, melanoma, leukemia, or systemic lupus?

These next questions are the standard ones. If you said no to all the prior questions and yes to any of these, they will at best offer you their standard plan.

  • Have you ever had or been treated for Parkinson’s disease or permanent paralysis caused by disease?
  • In the last 2 years, have you had or been diagnosed with heart attack, aneurysm, any circulatory disorder, stroke or TIA attack, kidney disease, internal cancer, melanoma, leukemia, neuromuscular disorder (cerebral palsy, multiple sclerosis, muscular dystrophy etc), any connective tissue disorder, ulcerative colitis, Crohn’s disease, any psychiatric issue that requires inpatient treatment?
  • In the last 2 years, have you had more than 4 moving violations, been convicted of or pled guilty to driving under the influence more than once, received or been advised to seek treatment for drug or alcohol abuse, been convicted of, pled guilty to, or awaiting trial for a felony, been incarcerated, on probation or on parole?

How Lumico Stacks Up Against Other Final Expense Companies

If you’re considering Lumico final expenses insurance, it’s important to take a look at the good and the bad.

Here’s the bottom line

Lumico is either your best company to buy burial insurance from, or there is another company that is a better option.


Let’s start by detailing some of the good and bad aspects of their product.


  • Competitive pricing on their preferred plan.
  • Only a 2 year look back on major issues such has heart attack, & heart or circulatory surgeries.
  • 2 year look back on cancer (most carriers are 3).
  • Accepting of insulin diabetes if you are on less than 40 units daily.
  • Seizure issues are accepted for their preferred plan.
  • Mild mental health disorders such as depression and anxiety are acceptable for their preferred plan.


  • Overall the underwriting is on the strict side compared to most other companies. There really aren’t any medical niches where they stand out.
  • Their waiting periods are 3 years whereas most waiting periods with other companies are only 2 years.
  • They are not fond of blood thinners. If you use blood thinners, they will offer you their standard plan which is a terrible option that should never be purchased.


Should You Buy Their Policy?

This really is the million-dollar question.

Fortunately, it’s a very simple answer.

The only time you should ever buy Lumico’s funeral life insurance is if you can qualify for their preferred plan

That’s it.

If your health would result in them offering you their standard or modified plan, don’t do it. There would be many other companies that would a far superior option for you.

As a reminder, to qualify for their preferred plan, you must be able to say not to all their health questions.

In addition, your prescription history would need to free of treatment for the conditions they ask about on the application.


Tips To Find The Best Final Expense Insurance For YOU

If you happen to be in the market for final expense insurance, there are some things you can do to ensure you find the best policy for yourself.


  1. Always work with an independent agent. Never limit yourself to one company or an agent who only has 1 or 2 companies to choose from. Work with an independent agent that represents dozens of companies. They will do a comparison from all the companies they work with to find you the best deal
  2. Never buy direct. Don’t be fooled by marketing that says, “save money buying direct”. You don’t save money by not dealing with an agent. In fact, it’s quite the opposite. If you buy coverage direct from a carrier, it will almost certainly be a policy that has a 2-year waiting period. Also, it will surely have a higher price compared to if you bought through an agent.
  3. Disregard advertisements on TV and via mail. Almost all ads on TV and via mail are 2 year waiting period policies that also cost much more.
  4. Be open to buying from insurance companies you’ve never heard of. There are thousands of life insurance companies in the USA. Truthfully, you know of less than 1% of them by name. The other 99% aren’t bad or untrustworthy. They just don’t advertise on TV. Be open to working with these companies because they very well could have the best final expense policy for you.
  5. Don’t try to figure this out on your own. In the end, there is no way you can determine which companies would accept you and which one would be best. Only an agent can figure that out for you. You will never be able to learn the underwriting from the dozens of companies that are out there. You allow your doctor to advise you on medical stuff. Find a good independent agent and trust their insurance advice.

At the end of the day, if you are seeking to get yourself a final expense policy, you have only one job.

Find a reputable independent agent that represents 10 or more insurance companies and let them go to work for you.

That’s it. Your task is nothing more than finding a good agent.

You can make your search easy by calling us. Choice Mutual is licensed in all 50 states including DC. We work with over 15 different highly rated companies, and final expense insurance is all we do.

We are the largest online marketplace for burial insurance.

Give us a call and we’ll shoot straight with you. All we will do is find out what your goals are, and then match you with whichever insurance company offers you the best deal.

If you don’t work with us, just make sure you work with a reputable independent agent that has lots of companies to choose from.


Lumico Company Background

Final expense from Lumico is underwritten by Lumico Life Insurance Company. Lumico is actually backed by Swiss Re (Swiss Reinsurance Company).

Swiss Re is a very old reinsurance company based out of Zurich Switzerland.

All in all, backing by Swiss Re is very good because they are incredibly financially stable.

A.M. Best gave Lumico Life insurance company an A rating.