5 Best Burial Insurance Companies
Best burial insurance is a type of final expense coverage for seniors. Generally, you need to be probably over 40 to 50 to buy it, and most plans offer coverage between $5,000 and $25,000.
It’s a much smaller burial insurance AARP plan than traditional insurance, but it’s a good option for seniors who don’t have life insurance. There are two basic types of final expense insurance: simplified issue and guaranteed issue.
Best Burial Insurance Companies
Dealing with the death of a loved one is stressful enough without having to worry about all the necessary funeral arrangements. To add to the stress, family members often have to cover final expenses.
Unfortunately, top funeral insurance company’s policy costs have increased dramatically over the past few years and currently can easily exceed $10,000. Having final expense insurance ensures that your loved ones won’t be burdened with the financial cost of your funeral or cremation.
As with traditional life insurance, several factors affect your policy premium.
Aarpunitedhealthcare2.com has compared the best burial insurance companies quotes from multiple companies to help you determine which offers the best deal based on your needs and preferences.
5 Best Burial Insurance Companies Names
- Best for Overall: Mutual of Omaha
- Best for Easy Application: AARP
- Best for Highest Coverage: Globe Life
- Best for No Waiting Periods: Fidelity Life
- Best Value: Colonial Penn
Mutual of Omaha
Mutual of Omaha is one of our best burial insurance companies because there is no complicated application process, people under the age of 85 can purchase a policy and the cost of final expense plan premiums never increases.
You can request a quote online for a Living Promise policy and choose coverage options between $2,000 and $40,000. Acceptance of the plans is guaranteed without a medical exam.
Provided you are between the ages of 45 and 85 and meet the minimum and maximum weight limits. No matter what health problems you develop, the benefits of the policy never diminish.
| Pros | Cons |
| Premiums never increase. | The eligibility age was reduced to 75 in New York. |
| No medical examination is necessary. | Two-year waiting period for full benefits. |
| Affordable rates. | |
| Covers a variety of health conditions. |
AARP
AARP offers several final expense plans, giving seniors several options. The policies are approved by AARP and underwritten by New York Life Insurance Co, which has excellent financial stability scores from AM Best.
Senior buyers can consider two final expense insurance options offered through New York Life Insurance Company’s AARP life insurance program. Seniors can choose between two options to help their loved ones cover funeral costs.
If you are between the ages of 40 and 80, you can either explore their simplified issue whole life policy or opt for their guaranteed life insurance. Spouses between the ages of 45 and 80 can also apply.
The company’s simplified issue whole life insurance policy requires you to answer health questions. If you qualify, your coverage becomes fully effective on day one.
| Pros | Cons |
| Offers multiple plans you can use for final spending plans. | AARP rates are more expensive than other companies. |
| Both AARP funeral insurance plans offer accelerated death benefits, also known as subsistence benefits, at no additional cost. | Must be an AARP member. |
| Guaranteed life insurance does not require you to answer health questions. | Two-year waiting period. |
| The premiums are the same whether you are a smoker or not. | Not available in New Jersey and Washington. |
Globe Life
Best burial insurance companies offer coverage of up to $40,000 to help cover end-of-life expenses. Globe Life offers death benefits up to $100,000, depending on the policy you choose.
It also offers burial insurance AARP options that won’t require you to take a medical exam or answer any health questions.
If you want funeral insurance with a higher payout, you can find several options with Globe Life. Whether you opt for term life or whole life insurance, your first month’s premium will be the same. After that, it increases significantly.
If you choose adult term life insurance, the rates will vary depending on your age, medical condition, and level of coverage.
One of the benefits of this burial insurance AARP policy is that it can last until you turn 90, which is longer than other term policies. It also offers the highest coverage amount – $100,000.
| Pros | Cons |
| Offers a reduced premium for the first month. | Premiums for term life insurance policies increase every five years. |
| No waiting period for all policies. | The death benefit in New York can only reach $25,000 for whole-life policies. |
| Provides final expense coverage for life up to $50,000 and up to $100,000 for term life insurance plans. | 68 complaints were recorded for 2020, which is significantly higher compared to companies of the same size. |
| Does not require a medical examination. |
Fidelity Life
Fidelity Life provides terminal expense coverage to help individuals pay for funeral costs and other terminal expenses. This coverage is a good option if you are between the ages of 50 and 85 and want to purchase the best funeral insurance in the range of $5,000 to $35,000.
You can purchase a policy online and no medical exam is required. Coverage begins the day your policy is approved.
This policy never expires as long as the premium is paid and your premiums will remain the same for life. The amount you will pay varies depending on your age, gender, and other factors.
| Pros | Cons |
| No medical exam is required. | Health conditions can impact premium costs. |
| The easy online application process. | Must answer health questions. |
| No waiting times. | Maximum coverage $35,000. |
| Range of optional endorsements | More expensive premiums for people with health problems. |
Colonial Penn
Colonial Penn is well known for its television commercials, but this company actually offers high-quality funeral insurance. And it is one of the successful companies among the best burial insurance companies. Colonial Penn has been around since 1968 and offers guaranteed life insurance.
People between the ages of 50 and 85 are eligible for coverage in most cases, and you cannot be refused due to your medical condition.
Your premium for Colonial Penn funeral insurance is fixed for life, but you have the option of paying your premiums on a monthly, quarterly, semi-annual, or annual basis. You won’t have to take a medical exam at all and you can request a free burial insurance AARP quote online.
| Pros | Cons |
| No medical exam is required. | Coverage limits vary by age. |
| Free quotes are available online. | Limited benefits for the first two years. |
| Affordable flat rates. | |
| No waiting periods. |
Best Burial Insurance for Seniors Quotes
As you age, your need for a large amount of life insurance decreases. Most seniors just want to leave enough money behind so they don’t put a financial burden on their loved ones.
A fin Best Burial Insurance for Seniors policy is a perfect way to take care of this, as it is affordable and fairly easy to obtain.
If you’re looking for the best burial insurance for seniors policy, be sure to speak to an experienced agent or get free quotes from Aarpunitedhealthcare2.com to help you decide which carrier will have the best rates for your needs.
Best Funeral Insurance Plans
Best funeral insurance plans, also known as burial insurance or final expense insurance plan, is life insurance designed specifically to pay for your funeral. It can be used for other final expenses such as taxes, probate fees, etc., but funeral expenses make up the bulk of final expenses.
Best funeral insurance plans are generally whole life insurance policies ranging in face value from $5,000 to $50,000. The age range to qualify is usually 50 to 85 years old.
You Can Find Best Companies Prepaid Cremation Plan Reviews
They are a simplified issue, which means that no medical examination is necessary to be approved. The app typically asks about your medical history and specifically about any major health issues in the last 3 years.
Best Burial Life Insurance Quotes
Some people realize later in life that they need the best burial life insurance so they can live out the rest of their lives with peace of mind. They can leave this life knowing that they will not leave their families with financial burdens.
Sometimes people want funds to cover funeral and burial costs, which can be costly.
In fact, the average funeral costs $10,000. Or sometimes an elderly person may simply want to leave some sort of investment to their heirs.
Whatever the reason, getting the best burial life insurance for seniors is easy. It’s never too late to get good life insurance, even if it’s just a small policy.
However, even if an older person is healthy and has no pre-existing conditions, the best burial insurance company’s premiums will be more expensive because older people pose a greater risk to an insurance company.
Conclusion
Your choice of funeral insurance depends on your state of health and your finances. Healthy people can choose from dozens of coverage options. While for those who need a guaranteed acceptance policy, the options are more limited. We have provided options suitable for most circumstances.
Mutual of Omaha was our overall choice for funeral insurance, as there is guaranteed coverage to age 85 with no underwriting. In addition, the rates will not increase over time.
Globe Life Policies
If you’re looking for a simple application process, consider AARP. It’s our pick for ease of application because there are no medical exam or medical history questions, and they won’t deny you coverage for pre-existing health conditions.
For those who prefer a higher level of coverage, check out Globe Life policies with benefits up to $100,000.
If the standard two-year initial exclusion period is a concern, our no-waiting option, Fidelity Life, might be of interest. You might even be able to get coverage the same day you apply.
People between the ages of 50 and 85 are eligible for coverage and are not denied due to their medical condition.
Frequently Asked Questions (FAQs) About Funeral Insurance For Seniors
How much does funeral insurance cost? The average cost for a funeral insurance policyholder is around $50 to $100 per month, and the most common face amount is $10,000.
Your specific premium may be higher or lower depending on your age, gender, medical condition, and the amount of coverage you purchase.
Funeral insurance allows you to prepay funeral and burial expenses. It can therefore be a good choice for those who have no other debts or expenses to settle upon their death.
Include money for your funeral or burial in your will, but be aware that funds may not be paid to your family on time.
Yes, you can take out funeral insurance for your parents. It’s actually quite common for children to purchase parental coverage to cover their final expenses which can easily exceed $10,000.
They must sign the application and accept the funeral insurance coverage. You can be the owner, the payer, and the beneficiary since you pay the premiums.
Direct burial or cremation occurs when the deceased is taken directly to the crematorium or cemetery without a funeral ceremony.