Burial insurance is a form of whole life insurance specifically designed for seniors. These small plans aim to cover your final expenses, such as funeral, burial, or cremation costs.
With hundreds of insurance companies offering burial insurance, how can you determine which ones provide the best coverage and value? Some policies even include waiting periods…
In this article, we will guide you through the top burial insurance companies, provide free quotes, and highlight key takeaways for each company.
Table Of Contents
- Mutual Of Omaha | Best Overall
- Aetna | Best For Elderly Seniors
- GCU | Best For Lowest Price
- Foresters | Best Member Benefits
- Prosperity | Best For Debit/Credit Card
- Liberty Bankers | Best For 18+
- American Amicable | Best For Smokers
- RNA | Best For Diabetic Neuropathy
- AIG | Best Guaranteed Issue
- Great Western | Best For Large Guaranteed Issue/40+
- Honorable Mentions
What Is Burial Insurance?
Burial insurance, also known as final expense life insurance, comprises small whole life plans designed to cover final expenses. However, not all policies are the same. Some companies only offer policies with waiting periods, and some increase prices significantly based on health conditions.
Many people purchase from the first company they see on TV or an advertisement, which is rarely the best option.
For every burial insurance policy you consider, ask:
- Will the premiums increase?
- Is there a waiting period?
- Will it expire?
The payout from a burial insurance policy is 100% tax-free and typically goes to your beneficiary within 48 hours. They can use the money as needed, with any remaining funds serving as a final gift from you.
Best Burial Life Insurance Companies For Seniors
1) Mutual Of Omaha | Best Overall
Age Range: 45-85
Coverage Amount: $2,000-$40,000
Waiting Period: No
States Available: All except NY
Will It Expire: No
Why We Chose It: Mutual Of Omaha offers one of the best burial insurance products for seniors, with competitive prices and excellent customer service. They also provide life insurance policies for children, Medicare Supplement plans, and annuities. Apply now by filling out our quote form or calling us.
Read our full review of Mutual Of Omaha’s burial insurance here.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $30.68 | $24.31 | $58.15 | $45.41 |
| 60 | $43.76 | $32.87 | $84.32 | $62.53 |
| 70 | $74.61 | $53.24 | $146.01 | $103.28 |
| 80 | $139.73 | $98.43 | $276.26 | $193.66 |
2) Aetna | Best For Elderly Seniors
Age Range: 40-89
Coverage Amount: $2,000-$50,000
Waiting Period: No
States Available: All except NY
Will It Expire: No
Why We Chose It: Aetna stands out with high coverage amounts and a broad age range. They offer discounts for those with a Medicare Supplement plan and accept various health conditions. Apply now by filling out our quote form or calling us.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $34.39 | $27.30 | $65.27 | $51.10 |
| 60 | $51.10 | $40.51 | $98.70 | $77.52 |
| 70 | $73.15 | $58.19 | $142.80 | $112.87 |
| 80 | $140.26 | $101.41 | $277.03 | $199.33 |
3) Greek Catholic Union (GCU) | Best For Lowest Price
Age Range: 45-85
Coverage Amount: $5,000-$35,000
Waiting Period: No
States Available: Various
Will It Expire: No
Why We Chose It: GCU often offers the lowest premiums for burial insurance. They provide the option to place insurance proceeds in an irrevocable burial trust, beneficial for Medicaid purposes. Apply now by filling out our quote form or calling us.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $27.46 | $20.26 | $51.32 | $36.92 |
| 60 | $41.95 | $32.08 | $80.30 | $60.55 |
| 70 | $70.88 | $56.07 | $138.17 | $108.54 |
| 80 | $137.12 | $109.43 | $270.65 | $215.26 |
4) Foresters Financial | Best Member Benefits
Age Range: 50-85
Coverage Amount: $5,000-$35,000
Waiting Period: No
States Available: All States
Will It Expire: No
Why We Chose It: Foresters Financial offers competitive premiums and accepts a wide range of health conditions. They provide free member benefits like customizable wills and scholarships. Apply now by filling out our quote form or calling us.
Read our full review of Foresters Financial here.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $32.00 | $26.05 | $60.85 | $48.95 |
| 60 | $45.18 | $35.41 | $87.22 | $67.67 |
| 70 | $70.66 | $51.92 | $138.18 | $100.70 |
| 80 | $146.74 | $111.08 | $290.33 | $219.01 |
5) Prosperity Life | Best For Debit/Credit Cards
Age Range: 50-80
Coverage Amount: $1,500-$35,000
Waiting Period: No
States Available: Various
Will It Expire: No
Why We Chose It: Prosperity Life allows payments with debit or credit cards and offers competitive rates for non-cigarette tobacco users. Apply now by filling out our quote form or calling us.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $36.73 | $29.15 | $65.43 | $54.70 |
| 60 | $45.77 | $35.88 | $87.95 | $68.17 |
| 70 | $79.58 | $59.13 | $155.56 | $114.66 |
| 80 | $147.96 | $98.30 | $292.32 | $193.00 |
6) Liberty Bankers Life | Best For 18+
Age Range: 18-80
Coverage Amount: $3,000-$40,000
Waiting Period: No
States Available: Various
Will It Expire: No
Why We Chose It: Liberty Bankers offers policies starting at age 18, with competitive premiums for all ages. Apply now by filling out our quote form or calling us.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $30.51 | $25.57 | $56.39 | $46.51 |
| 60 | $45.80 | $34.67 | $86.97 | $64.71 |
| 70 | $73.31 | $54.79 | $141.99 | $104.95 |
| 80 | $146.80 | $109.16 | $288.97 | $213.69 |
7) American Amicable | Best For Smokers
American Amicable Burial Insurance
- Age Range: 50-85
- Coverage Amount: $2,500-$35,000
- Waiting Period: None
- States Available: All states except CT, ME, MT, NH, NY, VT
- Will It Expire: No
Why We Chose It: American Amicable is a top choice for smokers due to its competitive rates. While it offers good rates for non-smokers, other companies may provide better deals for healthy non-smokers. They offer non-smoker rates to occasional pipe or cigar smokers and have an excellent selection of optional riders for adding family members or terminal illness coverage.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $31.64 | $26.66 | $60.65 | $50.69 |
| 60 | $47.05 | $38.26 | $91.47 | $73.88 |
| 70 | $78.79 | $60.38 | $154.93 | $118.11 |
| 80 | $155.82 | $113.68 | $309.00 | $224.72 |
8) Royal Neighbors Of America | Best For Diabetic Neuropathy
RNA Burial Insurance
- Age Range: 50-85
- Coverage Amount: $7,000-$30,000
- Waiting Period: None
- States Available: All states except AK, AL, HI, LA, MA, NH, NY
- Will It Expire: No
Why We Chose It: Royal Neighbors is ideal for individuals with diabetic neuropathy, offering coverage with no waiting period or increased premiums. This makes it a standout choice, as many other companies either impose waiting periods or significantly raise rates for this condition.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $39.61 | $33.71 | $76.61 | $64.81 |
| 60 | $50.11 | $38.21 | $97.61 | $73.81 |
| 70 | $74.81 | $55.61 | $147.01 | $108.61 |
| 80 | $153.81 | $110.41 | $305.01 | $218.21 |
9) AIG | Best Guaranteed Issue
AIG Burial Insurance
- Age Range: 50-80
- Coverage Amount: $5,000-$25,000
- Waiting Period: 2 years
- States Available: All states except ME & NY
- Will It Expire: No
Why We Chose It: AIG is the best for guaranteed issue coverage, offering policies without health questions, ensuring everyone qualifies. The trade-off is a two-year waiting period and slightly higher prices compared to other companies.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $55.99 | $38.58 | $109.97 | $79.78 |
| 60 | $68.14 | $53.93 | $149.25 | $118.96 |
| 70 | $106.00 | $80.41 | $232.60 | $176.74 |
| 80 | $206.32 | $189.53 | $415.67 | $410.63 |
10) Great Western | Best For Large Guaranteed Issue/40+
Great Western Burial Insurance
- Age Range: 40-80
- Coverage Amount: $1,000-$40,000
- Waiting Period: 2 years
- States Available: All states except AK, CT, HI, ME, DE, NY, VT
- Will It Expire: No
Why We Chose It: Great Western is unique for those without an email or under 50, offering larger face amounts up to $40,000 for guaranteed issue policies. This can be beneficial for those who need more coverage than the $25,000 limit offered by AIG.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $59.58 | $49.58 | $116.25 | $96.25 |
| 60 | $75.42 | $66.25 | $147.92 | $129.58 |
| 70 | $119.58 | $102.08 | $236.25 | $201.25 |
| 80 | $247.32 | $190.42 | $452.92 | $377.92 |
Top 3 Worst Burial Insurance Companies
1. Colonial Penn | Guaranteed Issue
Colonial Penn Review
- Age Range: 50-85
- Coverage Amount: Up To 12 Units
- Waiting Period: 2 years
- States Available: All states except NY
- Will It Expire: No
Why We Don’t Recommend: Colonial Penn uses a unit-based system ($9.95 per unit), which can be misleading. Coverage decreases with age, and better prices are available from other guaranteed issue companies.
| Age | Male 1 Unit | Female 1 Unit |
|---|---|---|
| 50 | $1,786 | $2,083 |
| 60 | $1,214 | $1,621 |
| 70 | $717 | $1,043 |
| 80 | $426 | $620 |
2. Lincoln Heritage | Funeral Advantage
Lincoln Heritage
- Age Range: 0-85
- Coverage Amount: Up To $35,000
- Waiting Period: Varies
- States Available: All states except NY
- Will It Expire: No
Why We Don’t Recommend: Lincoln Heritage is significantly more expensive (20%-300% higher) than similar plans from other companies. They justify the cost with added benefits, but these can be obtained for free elsewhere. Most applicants won’t qualify for their level plan, ending up with a modified plan at a higher cost.
| Age | Male Level $10,000 | Male Modified $10,000 | Female Level $10,000 | Female Modified $10,000 |
|---|---|---|---|---|
| 50 | $38.60 | $88.70 | $33.90 | $83.40 |
| 60 | $56.60 | $106.70 | $44.80 | $94.90 |
| 70 | $82.50 | $145.90 | $75.30 | $128.10 |
| 80 | $183.20 | $202.80 | $145.00 | $182.20 |
3. AARP Burial Insurance | New York Life
AARP Burial Insurance Review
- Age Range: 50-80
- Coverage Amount: Varies
- Waiting Period: Varies
- States Available: All states
- Will It Expire: Depends on product
Why We Don’t Recommend: AARP requires a monthly membership fee, offering three different products through New York Life, each with its drawbacks. The term life policy expires at 80, leaving beneficiaries with nothing. The simplified issue plan is more expensive and harder to qualify for compared to competitors. The guaranteed issue plan is also pricier, with better options available.
Sample Rates:
Age Male
$10,000Female
$10,00050 $33 $25 60 $48 $37 70 $79 $63 80 $123 $100
How To Find the Best Policy And Apply Today: Finding the best burial insurance policy is simple. Answer a few health questions to get the best rates from top companies. If you’re in good health with no serious conditions, applying is quick and easy. To compare quotes or fill out an application, use our quote form or give us a call to get your burial insurance set up in minutes.
