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Sample Burial Insurance Rates for 55 Year Olds

Written by Choice Mutual | Last updated: August 20, 2017

Sample Burial Insurance Rates for 55 Year Olds

Many people are under the impression that burial insurance rates rise dramatically once you turn 50. Thankfully, this is just a myth. We encourage you to run some quotes using our easy quote tool on this page. It’s simple and fast. You will see rates from many different final expense companies that operate in your state. On the other hand, if you would like to speak with one of our licensed agents who will do the work for you, call us at 1-800-644-2926. We are here to help.

Did you know that Pablo Picasso was just 55 years old when he completed his masterpiece called “Guernica”? Few people have any idea just how big this painting really is. Guernica stands 11 feet high and is 25 feet wide. According to Wikipedia, it took him 35 days to complete it. As you can see, you are still in the prime of your life at 55. On the other hand, chances are you are not reading this article for an art history lesson. We suspect you are researching the cost of burial insurance age your age. In that case, you will find these sample burial insurance rates for 55 year olds extremely helpful. We also have a step-by-step guide to ensure you are getting the best burial insurance plan for you and your family.

Sample Burial Insurance Rates For 55 Year Olds


Here Are Some Sample Burial Insurance Rates For 55 Year Olds

Just below you will see prices for people at age 55. First of all, you must remember that these prices are not exact, and we are not promising you will qualify for these rates. However, because Choice Mutual specializes in final expense and works with many different burial insurance companies, the vast majority of our clients do qualify for these low rates. Basically, these prices are the average of the cheapest three companies in your state at your age. Take notice that burial insurance rates are different for tobacco users and non tobacco users. In general, tobacco users pay anywhere from 30-50% for their life insurance.

Non Tobacco User- Female


Non Tobacco User- Male


Tobacco User- Female


Tobacco User- Male


Step-By-Step Guide To Getting The Best Burial Insurance Plan

If you follow this short guide, we are extremely confident that you will almost certainly get yourself a good final expense plan. These tips will work regardless of who you go through. Yes we said it. Even if you decide to not buy through us, these helpful tips will work anywhere.

Step 1

Write down a list of all your medications you currently take. Furthermore, write down any prescriptions you filled within the last three years that you are no longer taking. Even though you no longer take them, they could impact your eligibility.

Step 2

Look at your monthly budget, and figure out how much you can comfortably afford each and every month without fail. This is incredibly important. As is the case with all insurance, you are only covered as long as you make your payments. You must be able to make all 12 payments each year. If you can’t make all 12 payments each year, don’t bother. You should not bother trying to buy burial insurance if this is the case. Again, calculate what is the most amount you can spend each month on final expense insurance. This number is very important, and will be used later.

Step 3

Decide if you want a traditional burial or cremation. This will help you decide how much coverage you need to buy. For example, if you want to be buried, you need anywhere from $7,000-$10,000. In effect, this will give your family enough money to cover the cost of a traditional burial. In 2012, the average cost of a funeral, including vault, was $8343. On the other hand, if you prefer cremation, you will need far less coverage. For cremation, you will need to buy between $1,500 and $5,000 to ensure your family will not have to pay any money out of their own pockets.

If you have other objectives like wanting to leave money behind or paying off certain bills, just add those expenses to what your funeral will cost. Altogether, this would give you a total bill, and hopefully you can buy at least that much coverage.

Step 4

Find an experienced independent burial insurance expert. First of all, only an independent agency will have access to multiple burial insurance companies. They will be able to shop and compare all the different final expense companies to ensure you are getting the best deal. You know the saying- when companies compete with one another, you win. This is the absolute truth especially when it comes to burial insurance.

If you deal with a companies like AARP, Globe Life, or Lincoln Heritage, they can’t shop the market for you like an independent agency can. Those are considered “captive” insurance companies. This means that their agents can only sell their products. If their insurance isn’t your best option (they unequivocally aren’t-see below), they have no freedom to look elsewhere. Here is a snapshot of how those captive companies are bad for you.

  1. AARP– They mainly sell fake burial insurance that expires once you turn 80. In addition that fake plan increases in price as you get older. Most people are totally unaware that this is how the policy works. However, they do have true burial insurance that lasts forever, but it’s much more expensive than most companies. Nobody should ever buy from them unless they enjoy paying more for no particular reason.
  2. Globe Life– They too mainly sell fake burial insurance that expires. Their plan lasts longer than 80, but hardly anyone can afford the payments past the age of 75. Their plan goes up in price as well and gets really expensive as you get older. Most people are priced out of the coverage which means they no longer have any protection. Somehow, every Globe client we speak with has no clue how how a Globe policy works. Funny how that happens every time.
  3. Lincoln Heritage-They do sell true burial insurance that lasts forever. However, they are renown as the most expensive company on the market. Their prices are substantially higher than viturally every other final expense company. Literally, there is no circumstance where they can offer you a burial insurance plan that is cheaper than 98% of other final expense companies. Believe us though, they will try to convince you its somehow worth it to over pay with them.

Can you see just how bad it can be when you work with captive companies? Ultimately, you finding a very experienced independent agent is the single most important step you can take to ensure you get the best burial insurance plan for you and your family.

Step 5

Speak with your agent and be completely honest and forward about all your current and past health conditions. That list of medications you wrote down in step one, give them that list. Your health is a major factor in regards to the cost of burial insurance. You want your agent to be completely familiar with all your health issues, so they can find the right company for you. Their goal will be to find which final expense company willingly accepts ALL your health conditions. Chances are, there is one out there that does. The only question is- which one is it?

Doing this will result in two key benefits for you. First, you will get immediate protection. You will not have to endure a waiting period if the burial insurance company has no objection to your health issues. Secondly, you are going to get the best rate possible. At the same time, it might possible for you to have health conditions that result in higher premiums and/or waiting periods. Albeit, this is rare, but it does happen. Your agent will be able to determine if this is the case or not.

Step 6

After your agent finds which company is going to give you the best price, have him gather the rates. First get the price for the total amount of coverage you want (as discussed above). Now ask yourself- is the price for that amount of coverage equal to or less than what you can afford? If the answer is yes, apply for it and get your coverage in place. You can even buy more coverage if you want. Just make sure you don’t exceed your monthly budget that you identified earlier.

However, if the price for the coverage you want is more than what you can afford, you need to a smaller face amount. In this case, just ask you agent to tell you how much coverage you can get for whatever amount it is that you can afford. For example, if your budget is $50 per month, find out how much coverage you will get for $50 per month. Whatever benefit amount it turns out to be, buy it.

It’s better to have something rather than nothing. If you have nothing, your family will have to foot the entire cost of your funeral. However, if you buy as much as you can, you will alleviate as much of the financial burden as possible. Your family will love and appreciate that you did all you can.

Please do not get hung up on the fact that you can’t afford as much as you would like. Quite frankly, everyone wants to drive a Ferrari, but we don’t because its unaffordable. Thus, we drive Hondas, Fords, Toyotas, and Chevys because that’s what we can afford. It’s the same here. Believe us when we tell you that your family will greatly appreciate a check for $6,000. They won’t complain that it’s just short of the total cost of a funeral. That 6K will be a huge help to them and isn’t that what you want?

Step 7

Once you get your policy in the mail, make sure that you verify the following. You will need to look in the policy for this stuff:

  • The monthly payment is the same as what you were told up front
  • The monthly payment will not increase
  • The benefit amount is the same as what you were told up front
  • When the benefit goes into effect
  • The policy won’t expire at a predetermined point in time

There is a good chance that you might see some stuff in the policy that you don’t understand. This is ok. If you do, start by calling your agent and ask whatever questions you have. In addition, you must also call the insurance company directly and ask them the same questions. You must do this to ensure that your agent is not being dishonest with you.

If the answers from the insurance company are different than your agent’s, you then know that your agent was dishonest with you. In that case, you have the right to throw the policy in the trash and get your first payment back if you already made it. Insurance law is on your side, so do not worry if this ever happens to you.

Unfortunately, any system that involves human beings will have its bad apples who act dishonestly. This is why you need to complete step 7 to protect yourself. The worst thing would be to get scammed and not know about it. It would come back to bite you much later in life when you can’t do anything about it.

Step 8

Once everything checks out, store your policy somewhere safe. Take comfort knowing you are protected. Make sure you always plan for your scheduled monthly payment. Whatever day you chose to have it come out of your bank account will usually be the day its drafted. Some banks will process the drafts on the exact day, but some will do it a day later. Just know, banks do not process bank drafts over the weekends or holidays. With that, if your payment ever lands on a weekend, it will hit your account the following Monday. The same applies to holidays. If your payment day lands on a holiday, it will roll to the day after. If there is a holiday followed by the weekend, your payment won’t come out until that Monday.

If you ever have an issue with your money, call you agent as soon as possible and let them know. They might be able to stop the draft, so you don’t get any NSF fees. The insurance companies usually need a few days heads up to stop a draft, so call your agent as soon as you know there is a problem.


Last thoughtSample Burial Insurance Rates for 55 Year Olds

We hope you found that short guide helpful. We may be a bit biased in this category, but we fully believe that we are the most qualified agency to help you with your burial insurance. Burial insurance is all we do. At this point, we have literally helped thousands of families get the peace of mind they are looking for.

We know we can ensure you will get the best value for you and your family. With that, we would love the chance to earn your business. To get started, call us or fill out the fast quote form. The quote form is on this page. Check out this article if you are curious about what burial insurance will cost after you turn 56.


Choice Mutual is an independent agency licensed in all 50 states including DC. We work with over 20 highly rated final expense life insurance companies, so that we can compare offers from all of them to find you the best deal.

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Robin Wilburn

My x husband’s just found his burial policy on himself and his sister is no good because the company went out of business. He thought he was set but his sister died 1/22/18 and the truth came out. If he were to die, our 2 adult children would be responsible for the bill. We are trying to get a low cost policy with no waiting period. He is 55 and a smoker.
Thank you
Robin Wilburn

January 24, 2018 at 10:38 am
    Choice Mutual

    Hi Robin,

    First, we’re very sorry to hear this happened! That’s truly awful.

    If you are looking for a burial policy without a waiting period, you came to the right place. We work with over 20 companies, so if there is a no waiting period policy for him, we’ll find it.

    It’s best to call us at 1-800-644-2926, so one of our agents can gather some info about his health. Then we can find out if there are companies that will offer him a no waiting period policy.

    We also sent you an email about this.

    Talk with you soon!

    January 24, 2018 at 1:48 pm
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