The Burial Insurance Guide
Quick Tip: Compare the nation’s top-rated burial insurance plans using our instant quote tool on this page.
This article is for people interested in learning more about burial insurance
If you want to find out how burial insurance works, and see the best burial insurance plans, this is the place for you. We’ve reviewed dozens of insurance companies to help you find the best burial insurance plans available.
First, we’ll give a high-level overview of what burial insurance is and who it’s best for. Then we’ll go over the cost of burial insurance before showing you the top 5 burial insurance companies.
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What is Burial Insurance?
How Much Does Burial Insurance Cost?
5 Best Burial Insurance Plans Available
Should You Get Burial Insurance Coverage?
How to Find the Best Burial Insurance Plan

What is Burial Insurance?
Burial insurance is a type of life insurance for seniors between the ages of 50-85 whose family would be burdened with funeral costs and final debts in the event of their death.
Burial insurance is often referred to as Final Expense Insurance because that is exactly what it offers. Coverage for the final expenses of one’s life.
Burial Insurance is used to cover expenses such as a funeral, memorial service, cremation, headstone, casket etc. Burial costs in America are between $7,000 and $10,000 on average.
This coverage can also be used to cover additional final expenses such as outstanding medical bills, legal costs, or any other debts that you owe, such as credit card bills.
Burial insurance is defined by 5 core benefits:
- Day 1 Coverage. Upon approval, burial insurance provides IMMEDIATE protection. Even if you pass the day after your first payment!
- Price Lock Guarantee. Qualify today while we know you can qualify. Regardless of your health, age or future health, your payments are locked in!
- Death Benefit Guarantee. Your death benefit will never decrease for the life of the policy
- Whole Life. This coverage lasts your whole life and never expires. Additionally, it can never be cancelled by the company due to changes in your health.
- Builds cash value. Over time there will be cash value you can access.
Who Needs A Burial Insurance Policy?

As mentioned, the typical age range of a person purchasing burial life insurance is between the ages of 50 and 85. People purchase this type of coverage because the average family doesn’t have $10,000 on hand to pay for the funeral of a loved one.
This type of policy is also sometimes used as a replacement for people looking to spend a little bit less on their life insurance policy. This isn’t the best move for everyone, but depending on your age and health, it may be a better way to ease some of the financial stress that comes with the loss of a family member
These policies often have a much smaller death benefit, so the premiums will be smaller than a lot of other life insurance policy options.
Being that one of the main reasons people purchase life insurance policies to protect their family from financial distress, a burial insurance policy might be a good move for those that don’t have children to provide for or large debts that need to be paid off. If your income isn’t supporting anyone, and no one will take on your debts, this type of policy is often all you need. This will save you money if you don’t need the full benefits of a term or permanent life insurance policy.
Types of Burial Insurance Policies
Not all burial insurance policies work the same when it comes to paying out benefits. So, it is important that you have a good understanding of just how the payout is structured. That way, your policy’s beneficiary can know what to expect if and when they need to file a claim.
Some of the best burial insurance policies will pay out 100% of the stated amount of the death benefit, regardless of how long the policy has been owned when the insured passes away. In other cases, though, the policy may have graded benefits.
Here are the two types of policies you should know.
Level Benefit Policy
The first is what we call a level benefit. This just means that you will be paid your full death benefit regardless of when you die. There is no waiting period.
Not everyone will qualify for a level benefit policy. This will depend on your health, age, and several other factors.
Graded Benefit Policy
Insurance companies often protect themselves, however, by offering funeral insurance plans with a graded benefit. This means that the insured has a waiting period before being eligible to receive the full policy amount in benefits. Typically this waiting period is 24 months but will differ between companies.
Here, if the insured passes away within the first few years of owning the burial insurance policy, the beneficiary will only receive a certain percentage of the total stated death benefit.
Almost anyone can obtain a life insurance policy with a waiting period, regardless of health. However, these policies are usually more expensive because the insured is typically at higher risk of death.
Level Benefit | Graded Benefit |
---|---|
Paid full benefits upon death, regardless of date | Waiting period after death before receiving full payout |
Full amount paid out immediately | Up to 24 month waiting period |
Less expensive | More expensive |
There are still other types of burial insurance policies where the death benefit may consist of only the amount of paid-in premiums if the insured dies within the first few years of policy ownership. Then, after a certain amount of time has passed, if the insured passes away, the stated amount of benefit would be paid.
You Can Choose a Term or Permanent Policy
Burial insurance can be either term or permanent.
With a term policy, the plan can be very affordable – and you can choose from many different options with regard to how long your coverage lasts. Terms can last from 5 to 30 years.
A permanent policy will be more expensive because the insurance company knows they will have to pay out the death benefit.
How Much Does Burial Insurance Cost?

Burial insurance is usually purchased with a much smaller death benefit, which means a cheaper premium.
As with all insurance, the cost is based on your age and health when you start. Finding the best life insurance companies that fit your specific need is one of the most important parts of getting burial insurance for seniors.
If you want to see real numbers based on your situation, I suggest using our Instant Life Insurance Quote Tool here. No need to guess when you can get exact numbers!
One thing to remember is your premiums can’t increase and your death benefit cannot decrease
Most burial insurance plans insure from $5,000 to $25,000. This way, you can tailor a policy to meet your specific needs. A death benefit is payable upon the insured’s death.
$25,000 isn’t the most coverage you can receive from a burial insurance plan. Some companies can offer $100,000 and above as a death benefit.
Burial Insurance Rates For Men
Rates will vary based on your age, health, and other factors. Below are sample rates for both good or poor health (has a medical condition like cancer, HIV, CHF, etc.) men looking for $10,000 or $20,000 in coverage.
NOTE: These are sample rates and will not reflect the rates you will get, as every situation is different.
Coverage | Good Health $10,000 | Poor Health $10,000 | Good Health $20,000 | Poor Health $20,000 |
Age 50 | $30 | $52 | $56 | $102 |
Age 60 | $43 | $63 | $83 | $124 |
Age 70 | $74 | $93 | $145 | $184 |
Age 80 | $133 | $175 | $263 | $348 |
Burial Insurance Rates For Women
You can find sample rates for
NOTE: These are sample rates and will not reflect the the rates you will get, as every situation is different.
Coverage | Good Health $10,000 | Poor Health $10,000 | Good Health $20,000 | Poor Health $20,000 |
Age 50 | $25 | $35 | $46 | $70 |
Age 60 | $33 | $45 | $63 | $88 |
Age 70 | $53 | $70 | $103 | $139 |
Age 80 | $98 | $135 | $194 | $268 |
How Burial Insurance Companies Determine Rates
This list must be prefaced by the fact that your health plays a big role in securing the best burial insurance plan for seniors. Every burial insurance company will look at your health differently. One carrier may decline you for level rates and another one may approve you.
As a rule of thumb, most burial insurance plans will take you on their best rates, even if you have high blood pressure, elevated cholesterol, diabetes, sleep apnea, and other common health conditions.
You’ll even get accepted if you’ve had cancer, heart attack or stroke and enough time
It’s always best to compare multiple companies and plans before purchasing a policy.
5 Best Burial Insurance Plans
We’ve helped hundreds of people find burial insurance plans. We’ve found, over the years, that these companies typically offer the best policies. However, we do recommend speaking with one of our agents to be sure you’re getting the best rate.

#1: Mutual of Omaha’s Living Promise
Mutual of Omaha has one the best-priced burial insurance plans on the market
Mutual of Omaha’s “Living Promise” is available for those ages 45-85 and you can apply for $2,000-$40,000 of coverage. You can apply through the quote form on this page by requesting an application. You’ll get a decision on your application within 72 hours or less.
#2: Foresters Life Insurance’s Plan Right
Foresters isn’t a household name like Mutual of Omaha, but they’ve been around since 1874
They’re a fraternal organization meaning they’ll include a lot of other benefits with their policies – like scholarships for children/grandchildren. You’d think that would make their burial insurance plan’s cost more, right? Well, they’re one of the best-priced burial insurance plans on the market.
Foresters’ “Plan Right” is available to seniors 50-85 and you can secure $2,000-$35,000 of coverage. Like Mutual of Omaha, you can apply through the quote form on this page after viewing their rates. If you’re in one of the 28 states that Foresters allows telesales applications in, then you’ll get an approval within 48 hours.
#3 AIG Guaranteed Issue Policy
AIG, on the other hand, is a household name. Around since 1919, AIG has a great final expense life insurance policy called Guaranteed Issue
Coverage Amounts for AIG’s Guaranteed Issue Policy range from $5,000-$25,000. This policy has fixed premiums that won’t increase during the life of your policy.
#4 Prosperity Life Group
Prosperity Life Group has 4 key reasons for making it into our Top 5 Best Burial Insurance Plans:
- Pricing
- No e-sign
- No voice sign
- Instant Approval
Prosperity Life Group’s Burial Insurance Policy is one of the best priced around. It also doesn’t require a medical exam but is pushed lower down the top 5 list because it does ask medical questions on the application.
The fact that you can get instant a
#5 Assurity Life
Assurity has one of the highest A.M. Best ratings of this list with an A- rating (excellent).
Founded in 1890, Assurity is not a new face in the insurance world. They offer 3 different final expense pl
Unlike AIG, you must medically qualify for Assurity’s burial insurance policy.
Other companies that offer final expense insurance include Americo Life Insurance and Lincoln Financial.
Should You Get Burial Insurance Coverage?

As you move through the changes in your life, it is important that you ensure your overall financial plan is in-tact. This will oftentimes include a plan for covering final expenses so that loved ones don’t have to invade savings and/or sell off other assets in order to come up with the needed funds.
If you don’t have life insurance in place – or even if you do have life insurance, but you do not have an adequate amount of coverage – then adding one of the best burial insurance policies can be an affordable way to supplement that protection.
In many instances, burial insurance policies are not difficult to qualify for, as they often do not require that you undergo a medical exam as a part of the underwriting process. This means no blood test to go through – and no lengthy health questionnaire. Therefore, coverage can often be obtained easily and quickly for the added protection that you need.
How to Find The Best Burial Insurance
With this in mind, it is always a good idea to compare quotes from several burial insurance companies so that you can ensure that you’re obtaining the right plan for you and your specific needs. Doing so can entail taking a look at several policies, as well as comparing the best burial insurance companies, prior to making your final decision.
In most cases, the proceeds from one of the best burial insurance policies will be paid out quickly to your beneficiary. You may even name a funeral home as your
Work with an Independent Agent
We can help you to narrow down your burial insurance policy options, as well as to provide you with premium quotes. Our company works with many of the best burial insurance companies, so we can show you quotes from quality carriers, and offer peace of mind for your loved ones. No matter what your particular life insurance requirements are, the independent agents at Spectrum Insurance Group will be able to assist in matching you with the best life insurance company for your needs.
Getting quotes for the best burial insurance doesn’t have to be a challenge – If you need a life insurance premium quote quickly, we can help. Simply fill in the information on the instant quote box.
Compare the best burial life insurance rates here
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