At IBUSA, we specialize in no exam life insurance, including final expense and burial insurance policies, with and without health questions. We have put together a list of our top picks so that our visitors can familiarize themselves with the current crop of companies that offer final expense life insurance.
For the best final expense plans, we recommend permanent life insurance policies. All the burial life insurance companies we list below have some type of permanent insurance, that way the policy remains in force for your entire life as long as you pay the premiums.
The following are our current final expense life insurance companies we recommend listed in alphabetical order:
3. American Amicable
4. American National
6. Baltimore Life
9. Liberty Bankers Life
10. Mutual of Omaha
11. Oxford Life
15. Sons of Norway
16. Trinity Life
18. United Home Life
Compare over 50 top life insurance companies instantly.
American International Group, aka AIG.
A.M. Best rating: A
AIG offers guaranteed issue whole life insurance. “Guaranteed issue” means no health questions life insurance.
The best part about this policy is there are no health questions and no health exam requirements. Since the policy is guaranteed issue, there is a 2 year waiting period before the policy will pay out for natural causes.
AIG’s final expense insurance policy is for ages 50-85, ranging from $5,000-$25,000 in coverage.
Read our AIG Life Insurance Review for more detailed information about the company.
A.M. Best rating: A
American Amicable is a great option for burial insurance or final expense coverage.
American Amicable offers Golden Solution, which is a whole life insurance policy. There are two plans available, an immediate death benefit plan and a graded death benefit plan.
The immediate death benefit plan pays 100% of the face amount from day one.
The graded death benefit plan pays 33% of the face amount in year one, 70% in year two, and the full face amount in year three onward.
With face amounts ranging from $2,500 to $30,000, the immediate death benefit plan is a top final expense insurance policy.
And depending on the state you live in, there is also a terminal illness accelerated benefit rider available at no additional cost.
Read our American Amicable Life Insurance Review for more.
A.M. Best rating: A
Americo has a variety of whole life insurance products that will cover final expenses.
Their Ultra Protector Series is what you need to be looking at. This has policies for people 50-85, ranging from $2,000-$30,000 in coverage.
Protector I and II require a basic health screening as well as health questions. If you need a guaranteed issue final expense policy due to health problems, this may not be the best option.
Americo also offers Ultra Protector III, which is a graded death benefit plan with a 3 year waiting period.
Optional Child and Grandchild Riders are available on select products.
Read our Americo Life Insurance Review for more detailed information about what they offer.
A.M. Best rating: A
With American National, you can get a policy from $2,000-$50,000. Graded and modified death benefit plans go up to $25,000.
Graded Benefit Whole Life is available for ages 45-80. In the first two years, the death benefit is equal to premiums paid plus 10%. In year three and beyond, 100% of the death benefit is paid.
The great thing about this policy is that it has cash value. Additionally, there is a terminal illness rider if your policy is $25,000 or more.
For more information read our American National Life Insurance Company Review
A.M. Best rating: A-
Assurity is one of our favorite no medical exam companies. If you have any kind of health problems, then you should consider Assurity.
They offer Simplified Level Benefit Whole Life, Graded Benefit and Modified Benefit policies.
The Level Benefit Whole Life Plan pays out 100% of the face amount from day one.
The Graded Benefit Whole Life Plan pays out 40% in year one and 75% in year two, with the full face amount paid out in year three and beyond.
The Modified Benefit Whole Life Plan pays 110% return of premium in year one and 220% return of premium in year two, with the full face amount paid out after the second year.
Assurity’s final expense insurance offers one of the larger death benefits. The death benefit is $5,000-$50,000 until the age of 65. From 66-80 years old, the death benefit is between $5,000 and $25,000.
Read our Assurity Life Insurance Review to know more about their life insurance products.
A.M. Best rating: B++
Baltimore Life’s Silver Guard products are great and there are three different burial life insurance policies offered.
Silver Guard I is the best option for people who are relatively healthy and can pass the health questionnaire.
Silver Guard II and III are options for people who have some health problems. Under these two policy options there is a graded death benefit. In year one, you will get 25% coverage. In year two, the coverage goes up to 50%. By year three, the full death benefit is in action.
For more information about Silver Guard products, read our Baltimore Life Insurance Company Review
A.M. Best rating: A-
When it comes to final expense policies, Forester’s PlanRight Whole Life policy is a simplified issue final expense policy to consider.
The reason most people choose this policy is for the price – it’s extremely reasonable. Depending on the plan you qualify for, the policy’s face amount ranges from $2,000 to $35,000 up until age 80. It goes down to $15,000 for applicants who are 81-85 years old.
Foresters offers three separate final expense insurance plans:
- Preferred Coverage,
- Standard Coverage, and
- Modified Coverage
Read the Foresters Life Insurance Company review to know more.
A.M. Best rating: A
Yes, it’s the same face as the baby food – they are also an amazing life insurance company. If you have any major health problems but still want to get a final expense policy to protect your loved ones, then Gerber’s Guaranteed Life is a great option.
The policy is guaranteed issue whole life insurance. That means you will not be required to do any medical tests, offer blood or urine samples, or answer any health questions.
Face amounts are between $5,000 and $25,000 available for ages 50-80.
If you are a senior and looking for burial insurance, then Gerber is a great choice as they have some of the most affordable prices for guaranteed issue life insurance.
Even if you are looking to purchase a life insurance policy to cover someone else (like your parent or grandparent), then Gerber is a reliable way to go.
Check out our Gerber Life review for more.
A.M. Best rating: B++
Liberty Bankers Life offers SIMPL, a simplified issue whole life insurance policy. You can choose between SIMPL preferred and SIMPL standard. Face amounts range from $3,000 – $30,000.
Both the SIMPL Preferred and Standard Plan offer living benefits at no additional cost for both chronic illness and terminal illness.
Liberty Bankers also offers MWL, which is for people who don’t quite meet the requirements for the SIMPL standard policy. Face amounts on the modified plan range from $1,000 to $20,000.
The Modified Whole Life Policy has a unique death benefit payout. During the first three years the payout equals premiums paid plus 10% compounded. In year four, the death benefit is 100%. However, the death benefit increases to 105% in the fifth year and up to 110% in the sixth year onward.
Mutual of Omaha
A.M. Best rating: A+
Mutual of Omaha (MOO) is a great option for burial insurance with no waiting period.
MOO has a whole life burial or final expense insurance policy called Living Promise. This policy is available for applicants from 45-85 years old.
Living Promise face amounts vary, ranging from $2,000 to $40,000. In order to qualify for the policy, you will need to undergo a background check which will include medical information and running your name through the prescription drug database.
One great thing about this whole life final expense policy is that it comes with an accelerated death benefit rider if you are diagnosed with a terminal illness and the doctor gives you less than a year to live. This will help you pay for the final expenses you have while still alive, such as paying the funeral home in advance and making final arrangements.
Mutual of Omaha also has a Graded Benefit Plan for ages 45-80 with face amounts from $2,000 to $20,000. The policy contains a graded death benefit that pays out a return of premium plus 10% in the first two years, with the full death benefit available in year three and onward.
An Accidental Death Benefit Rider is available for an additional charge.
Read more on our Mutual of Omaha Review
A.M. Best rating: A-
Oxford Life Insurance Company offers its Assurance and Assurance One, which is a single premium final expense insurance policy.
Assurance is available for ages 50-85 and Assurance One is available for ages 55-80.
You can choose face amounts ranging from $5,000 up to $30,000.
The Oxford Life Assurance final expense insurance policies offer accelerated benefits including:
- Terminal Illness Rider
- Nursing Home Rider
- Chronic Illness Rider
A.M. Best rating: A-
Prosperity Life Insurance offers final expense whole life insurance.
Three different burial insurance options are available: level, graded and modified benefit for ages 50-80. Face amounts available range from $1,500 – $35,000.
Prosperity Life also offers a 20 year graded death benefit term. The policy has a reduced death benefit the first three years, after which time the full death benefit is paid for the remaining term length.
At the end of the 20 years, the premiums remain the same but the death benefit decreases annually.
A.M. Best rating: A-
Royal Neighbors final expense insurance products include Simplified Issue Whole Life (SIWL) and Graded Death Benefit Whole Life (GDB).
Available for ages 50-85, you can get as little as $5,000 in coverage or up to $25,000 in coverage for the SIWL product and $10,000 in coverage for the GDB product.
The SIWL plan is immediate coverage, paying 100% of the death benefit from day one.
The GDB plan has a graded death benefit, paying 30% of the face amount in year one, 70% of the face amount in year two, with the full face amount in year three and beyond.
An Accelerated Living Benefit (ALB) Terminal Condition and Permanent Confinement rider is available at no additional cost in certain states.
Non tobacco and tobacco rates are available.
A.M. Best rating: A–
Another great final expense life insurance company is Sagicor.
They offer health class rates that make it really affordable for people who are healthy and even those who have some health issues.
To qualify for Sagicor Sage NLUL Standard, you should be between 18-65 years of age. Sagicor also offers fully underwritten policies if you are between 66 and 85.
Another good thing about Sagicor is that they have an accelerated benefit insurance rider for terminal illness or chronic illness- for free!
Find out more from our Sagicor Life Insurance Review
Sons of Norway
A.M. Best rating: N/A
Sons of Norway provides guaranteed issue whole life insurance that is competitive with Gerber and AIG mentioned above.
As with all guaranteed issue burial insurance policies, there are no health questions or exams to take.
The product comes with a 2-year graded death benefit. During the first 2 years of the policy, the owner will receive a return of premium plus 4.5% interest.
The Sons of Norway burial insurance policy is for ages 50-80, ranging from $5,000-$25,000 in coverage.
Find out more from our Sons of Norway Review
A.M. Best rating: A
Transamerica has a final expense or burial insurance product called Immediate Solution Preferred or Standard, as well as Easy Solution.
This has a face amount between $1,000 and $50,000 for applicants under 55.
If you are 55-65 years old, you can qualify for up to $40,000 of coverage, 66-75 up to $30,000 and 76-85 up to $25,000.
The Easy Solution Plan offers a 2 year graded death benefit, with face amounts ranging from $1,000 – $25,000. Payout in the first two years of this plan varies by state, and is either 110% of premiums paid, or 30% of face amount in year one and 60% of face amount in year two.
An Accelerated Death Benefit Rider with Nursing Home Benefit is available in most states excluding New York.
Additional riders include an accidental death benefit rider and a children’s and grandchildren’s benefit rider.
Read the full Transamerica Life Insurance Review
A.M. Best rating: A
Trinity Life Insurance Company offers whole life insurance for final expenses.
Golden Eagle Final Expense is available as either simplified issue or graded death benefit.
Simplified issue whole life insurance is available for ages 50-85, with death benefits ranging from $2,500 to $25,000.
Graded benefit whole life insurance is available for ages 50-80, with death benefits ranging from $2,000 to $10,000.
Both products offer an Accelerated Living Benefit Rider for Terminal Illness or Nursing Home Confinement.
United Home Life
A.M. Best rating: A-
United Home Life offers a simplified issue permanent life insurance product for applicants from 20-80 years old. There are three plans to choose from.
- Express Issue Premier
- Express Issue Deluxe
- Express Issue WL Graded Benefit
Express Issue Premier offers some of the largest final expense insurance face amounts. You can get a face amount from $5,000-$100,000 up until the age of 60. If you are 61-80, you can qualify for up to $50,000.
Riders available at no additional cost include:
- Extended Hospital Stay Waiver
- Identity Theft Waiver
- Common Carrier ADB
Check out the United Home Life Review to know more.
How Much Final Expense Insurance Do I Need?
The coverage amount you get will be influenced by how much you want to spend on a policy, but it is important to consider end of life expenses such as medical bills, funeral costs and burial costs, and debt obligations. In truth, most people dread being a financial burden on their family members, so carefully considering how much coverage is needed is prudent.
Final Expense Life Insurance Quotes
So, how much does final expense insurance cost? That is one of the most important factors that folks want to know and it is largely determined by your coverage amount. We put together some handy tables below that will give you an idea of how much final expense insurance will cost based on your age and health status.
The following are sample $25,000 final expense insurance rates for a male. All rates are for informational purposes, are subject to change, and must be qualified for.
$25,000 Burial Life Insurance Rates ages 50-59
All whole life rates shown below are fixed and will stay the same for your lifetime.
$25,000 Final Expense Life Insurance Rates ages 60-69
All whole life quotes shown below are guaranteed to stay the same for your lifetime.
$25,000 Burial Insurance Rates ages 70-79
All whole life insurance quotes shown below are guaranteed to stay the same for your lifetime.
$25,000 Final Expense Insurance Quotes ages 80-85
All whole life insurance rates shown below are fixed for life and will not increase.
Best Final Expense Insurance Companies
It is important to mention something at the outset that we will cover more in depth below. When we mention Final Expense Insurance, we also mean Burial Insurance and Funeral Insurance.
No matter what you choose to call this product, what we are referring to is smaller permanent life insurance policies that are used to pay final expenses, funeral costs and medical bills.
The Most Common Question We Get
Now before we discuss each company in detail, it is important that we answer a frequently asked question.
How do I decide which company will be the best choice for me?
Here are a few things to consider when deciding which final expense insurance company is the best choice for you.
What is the Company’s Financial Strength?
You should pay attention to a company’s financial strength. We provide the A.M. Best rating of each company below.
A.M. Best is the premier third party ratings agency and the higher the rating, the stronger the company’s financial are going to be.
And the stronger the company’s financials, the better equipped they are to pay future death benefits.
How Much Coverage Can I Get?
Consider how much coverage you need because some companies limit the maximum amount of burial insurance coverage you can get to $10,000, while others will offer up to $50,000 or even $100,000.
Obviously, price matters, so you will also want to consider how much coverage makes sense based on your present and future budget.
What Type of Coverage Is This?
Do you want term life or permanent life? Term is going to be cheaper initially, but you may outlive it.
Permanent life might have a higher initial price tag, but it will grow cash value that you can borrow against and you don’t have to worry about outliving it.
Generally, we recommend permanent life insurance, more specifically whole life. That is because most people get these policies so they can cover end-of-life costs, such as funeral costs and medical bills.
However, we work with many of the top final expense insurance companies, some which offer term life policies as well.
In rare instances a term policy might make more sense. It really comes down to a case-by-case basis on what is going to best meet your needs.
Is the Burial Insurance Policy Level, Modified, or Graded Benefit?
Finally, consider if the policy is burial insurance with no waiting period or if there is a waiting period.
We cover this topic more in depth below, but know that there are three different final expense insurance policies out there.
- The three different types of final expense insurance are:
- Level Benefit
- Graded Benefit
- Modified Benefit
Depending on your health history will determine which type of coverage is going to be best for you.
Get The Help You Need to Find the Best Policy…for you!
We at IBUSA invite anyone who is thinking about purchasing final expense insurance, burial insurance or funeral insurance to give us a call so we can help align you with the company that best fits your specific needs, goals and budget.
Since we work with so many companies, our experts can help you locate the company best suited to what you are trying to do. When we recommend a company, we are looking at how much coverage you need, whether you want term or whole life, or a blend of the two, and what health issues you may have.
And this is how we help place you with the right company, by gathering the right information from you so we know just how to help you.
So, with this in mind, here are our top picks with a description of the best final expense and burial policies they offer.
Final Expense Life Insurance Companies We Didn’t Choose
The primary reason we did not include these burial insurance companies in our “best of” list is because the pricing is too high versus the competition. We believe there are better alternatives to these companies.
Globe Life, Colonial Penn and Lincoln Heritage have great marketing campaigns (and budgets), so people tend to choose them over less known companies, such as those we list above.
You can click on the link of each company above to be taken to the corresponding review where we go deeper into why we do not recommend these final expense insurance companies.
Which Final Expense Company is Best for Me?
It can be difficult to determine which final expense company is the best fit for you, as there are many factors to consider and different companies may offer different benefits and terms. Some things to consider when shopping for a final expense policy include:
- Financial stability: It is important to choose a financially stable insurer that has a strong track record and is likely to be able to pay out your claim when the time comes. You can check the financial ratings of different insurers through agencies like A.M. Best or Standard & Poor’s.
- Coverage options: Look for a policy that offers the level of coverage you need to cover your final expenses. Be sure to read the policy terms carefully to understand what is and is not covered.
- Premiums: Compare the premiums and other costs of different policies to find one that fits your budget. Keep in mind that premiums may vary based on your age, health, and other factors.
- Customer service: Consider the reputation of the insurer for customer service. You may want to choose a company that has a good track record of handling claims efficiently and fairly.
Here are a few more important things to know when shopping for final expense or burial insurance.
Whole Life vs Term Life
Term life insurance and whole life insurance are two types of life insurance that have some differences in terms of how they work and the benefits they offer.
Term life insurance is a type of policy that provides coverage for a specific period of time, such as 10, 20, or 30 years. If the insured person dies during the term of the policy, the beneficiary will receive the death benefit. And if the insured person does not die during the term, the policy will expire and there is no payout.
Term life insurance is generally less expensive than whole life insurance and is often used to provide coverage for a specific need, such as covering a mortgage or providing income for a family.
Whole life insurance, also known as permanent life insurance, provides coverage for the entire lifetime of the insured person. In addition to a death benefit, whole life insurance also includes a savings component, which allows policyholders to build cash value over time.
A whole life policy’s cash value can be accessed through loans or withdrawals while the policyholder is alive. Whole life insurance is generally more expensive than term life insurance, but it offers the added benefit of a savings component and the ability to build cash value.
When deciding between term life insurance and whole life insurance, it is important to consider your long-term financial goals and needs. If you have a specific need for coverage that will last for a set period of time, term life insurance may be a good option.
If you are looking for a policy that will provide lifetime coverage and has a savings component, whole life insurance may be a better choice.
Simplified Issue vs Guaranteed Issue
Simplified issue life insurance and guaranteed issue life insurance are types of life insurance policies that are designed to be more easily accessible to individuals who may have difficulty obtaining coverage through a traditional policy.
Simplified issue life insurance is a type of policy that requires only a minimal amount of medical information from the applicant. This may include a short medical questionnaire or a limited medical exam.
Simplified issue policies are generally more affordable than traditional policies and may be issued more quickly, but they may not provide as much coverage as a traditional policy and may have exclusions or limitations on coverage.
Guaranteed issue life insurance is a type of policy that does not require any medical information or exams from the applicant. These policies are generally more expensive than traditional policies and may have higher premiums and lower coverage limits.
These guaranteed acceptance policies are often used by individuals who are unable to qualify for a traditional policy due to serious health issues or advanced age.
Both simplified issue and guaranteed issue policies may be good options for individuals who have difficulty obtaining coverage through a traditional policy, but it is important to carefully review the terms and conditions of these policies to understand any exclusions or limitations on coverage.
It may also be a good idea to compare the premiums and coverage limits of these policies with those of traditional policies to determine which option is the best fit for your needs.
Some additional terms to know…
Level Benefit, Graded Benefit, and Modified Benefit
Level benefit coverage is your standard burial insurance with no waiting period. This type of final expense policy requires you pass a health questionnaire in order to qualify for the final expense insurance policy.
Different companies have varying degrees of questions. Some contain only 3 health questions, while others may ask many health questions.
Just know that if you want a level benefit plan, underwriters will consider your application, as may also look at the Medical Information Bureau (MIB), run a prescription drug check, and perform a Personal History Interview.
The point being, the more questions they ask, the lower your premium will probably be, but also the higher likelihood you may be denied coverage if you have a pre-existing condition.
Graded benefit is in between level and modified. It is somewhat of a hybrid between the two types of final expense insurance plans. It is not as difficult to get as simplified issue but not as easy as guaranteed issue.
As a result, there are some health questions to navigate.
Plus, a graded benefit burial insurance policy will have some provisions that limit the total death benefit paid out in the first 2-3 years for non-accidental death.
For example, in year one, maybe only 30% of death benefit would be paid for natural causes.
And in year 2, perhaps 70% of the death benefit would be paid for natural causes, with the full death benefit paid in year 3 and onward.
Modified benefit final expense plans are the easiest to qualify for. This is typically the umbrella where your guaranteed issue life insurance will fall under.
The modified benefit coverage is life insurance without health questions.
Often, modified benefit burial insurance plans require a 2 or 3 year waiting period before the full death benefit will be paid.
Generally, if death occurs due to natural cayuses in the first 2 or 3 years, the policy will pay a return of premium plus 10%.
This modified death benefit provision covers the company in case the insured already has a terminal illness. However, if death occurs due to an accident, the policy will pay the full death benefit face amount.
How We can Help
Here is what we do…
First, we start off by talking with you. We get to know you, what your objectives are, any health or lifestyle issues that may exist, and anything else that may affect your life insurance application.
Next, we use the information you provide us to come up with a handful of different options for you. It may be that you qualify for ordinary term life or whole life insurance.
Then again, you may have some reason to prefer simplified issue no exam life insurance. The reasons can be anything from a fear of needles, not sure of your health status, or you may have an existing health condition that makes a simplified issue policy superior.
Finally, we may discover that you are best suited for a smaller simplified issue or guaranteed issue life insurance policy, where there are no exams and few, to none, health questions asked.
The bottom line is, we are here for you. That is what sets us apart.
At InsuranceBrokersUSA, we are a life insurance agency that represents many different companies. These are our top ten best whole life final expense or burial life insurance policy companies.
Each of these companies may or may not be right for you. In order to know which whole life final expense and burial insurance company is right for you and your situation, please give us a call today!
Final expense ins for me n wife I’m 72 / she is 71 would like to talk about obtaining ins for both
I’ll be available without interruptions on 11/30/22 all day at: 763 327 4495
interested in final expense as a svc connected Veteran, we have burial provided by VA. i have been approved for the benefit. In process for wife’s app.
R Santiago Jr
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