As licensed insurance professionals focused on senior coverage, we’ve done the heavy lifting—reviewing more than 50 burial insurance companies to save you weeks of research. This guide draws on our experience to break down the best final expense insurance options for seniors ages 50 to 85, comparing costs, coverage flexibility, and approval odds.
Our goal is simple: to help you find reliable, affordable protection that brings lasting peace of mind to you and your loved ones.
How to use this guide:
- Jump directly to companies that interest you using the navigation below
- Review our expert recommendations for your specific age and health situation
- Use our comparison insights to understand key differences in coverage and costs
- Call us for personalized quotes tailored to your final expense needs
Expert Insight: Burial insurance differs significantly from traditional life insurance. These policies focus on covering funeral costs, final medical bills, and small debts. Our licensed agents specialize in helping seniors find affordable coverage with simplified underwriting, often without medical exams.
What is Burial Insurance and Why Do Seniors Need It?
Key insight: Burial insurance, also known as final expense or funeral insurance, is a type of whole life insurance specifically designed to cover end-of-life costs for seniors aged 50-85, with coverage amounts typically ranging from $5,000 to $50,000.
The Reality of Funeral Costs
- Average funeral cost in 2024: $9,500 – $12,000
- Cremation services: $3,500 – $7,000
- Cemetery plot and burial: $2,000 – $5,000
- Additional final expenses (medical bills, legal fees): $2,000 – $8,000
Total potential cost: $15,000 – $30,000+
Unlike traditional life insurance, burial insurance offers guaranteed acceptance options, simplified health questions, and immediate coverage for accidental death, making it ideal for seniors who may have health issues that prevent them from qualifying for standard life insurance.
How Do We Rank Burial Insurance Companies?
Key insight: Our ranking methodology evaluates burial insurance companies across five critical dimensions specifically important to seniors seeking final expense coverage.
Burial Insurance Ranking Criteria
| Criteria | Weight | Key Factors |
|---|---|---|
| Simplified Underwriting | 35% | Guaranteed acceptance, health question flexibility |
| Financial Strength | 25% | AM Best ratings, claims paying ability |
| Premium Affordability | 20% | Competitive rates for seniors 50-85 |
| Customer Service | 15% | Senior-friendly service, claims processing |
| Coverage Options | 5% | Coverage amounts, benefit options |
What Makes These Companies Stand Out?
Key insight: In our opinion, these 10 companies represent the best combination of accessible underwriting, affordable premiums, and reliable claims payment specifically for seniors seeking burial insurance coverage.
What Qualifies a Company for This List
- Specialized burial insurance products designed for seniors aged 50-85
- Guaranteed acceptance or simplified underwriting options available
- Financial strength ratings of B+ or higher for long-term reliability
- Competitive premiums specifically for the final expense insurance market
- Strong customer service ratings and efficient claims processing for seniors
Top 10 Burial Insurance Companies: Complete Analysis
Key insight: Our definitive rankings help seniors navigate the complex burial insurance market by identifying companies that consistently deliver the best combination of accessibility, affordability, and reliability.
1
Best Overall:
Mutual of Omaha
Why Mutual of Omaha Leads for Burial Insurance
Mutual of Omaha offers the most comprehensive burial insurance program for seniors, with both guaranteed acceptance and simplified issue options. Their underwriting is extremely senior-friendly, and they specialize in helping applicants with health conditions that other companies might decline.
Real-World Application
Dorothy, age 78 with diabetes and heart issues, was declined by two other companies. Mutual of Omaha’s guaranteed acceptance policy provided her with $15,000 in coverage with no health questions. Her family used the benefit to cover her funeral expenses and remaining medical bills.
Best For:
- Seniors with serious health conditions
- Ages 50-85 seeking guaranteed coverage
- Those who want immediate coverage for accidents
- Applicants previously declined elsewhere
2
Best Rates: AARP/New York Life
AARP’s Competitive Advantage
AARP’s burial insurance, backed by New York Life, offers some of the most competitive rates for healthy seniors. The simplified application process and strong financial backing make this an excellent choice for AARP members seeking affordable final expense coverage.
Real-World Application
Robert, a 65-year-old AARP member, secured $20,000 in coverage for just $67/month through their program. The simplified underwriting meant no medical exam, and his coverage became fully effective immediately for accidental death.
Best For:
- AARP members seeking value pricing
- Healthy seniors aged 50-80
- Those wanting simplified underwriting
- Applicants seeking strong financial backing
3
Best for Health Issues: Gerber Life
Gerber’s Health-Friendly Approach
Gerber Life specializes in guaranteed acceptance burial insurance with some of the most lenient health guidelines in the industry. Their “Guaranteed Life” program accepts all applicants aged 50-80, regardless of health conditions.
Best For:
- Seniors with multiple health conditions
- Those seeking guaranteed acceptance
- Ages 50-80 with immediate coverage needs
- Applicants who want predictable premiums
4
Best Customer Service: Colonial Penn
Colonial Penn’s Senior Focus
Colonial Penn has built their entire business model around serving seniors, with guaranteed acceptance policies and exceptional customer service designed specifically for older adults. Their unique unit-based pricing system makes coverage easy to understand.
Best For:
- Seniors wanting personalized service
- Those aged 50-85 seeking flexibility
- Guaranteed acceptance applicants
- Simple, easy-to-understand coverage
5Foresters Financial
Best for fraternal benefits, simplified underwriting, member discounts and additional services
6Great Western Insurance
Best for immediate coverage, competitive rates, simplified issue options for healthy seniors
7United of Omaha
Best for healthy seniors, medical exam options, higher coverage amounts available
8American Memorial Life
Best for guaranteed issue, graded benefits, very lenient health requirements
9Liberty Bankers Life
Best for senior specialists, regional expertise, personalized underwriting approach
10Senior Life Insurance Company
Best for final expense focus, door-to-door service, community-based approach
How Do Burial Insurance Costs Compare?
Key insight: Burial insurance premiums vary significantly based on your age, health status, coverage amount, and the type of underwriting (guaranteed acceptance vs. simplified issue).
Sample Burial Insurance Premiums ($10,000 Coverage)
| Company | Female Age 65 | Male Age 70 | Female Age 75 |
|---|---|---|---|
| AARP/New York Life | $37/month | $52/month | $67/month |
| Mutual of Omaha | $42/month | $58/month | $74/month |
| Gerber Life | $45/month | $62/month | $79/month |
| Colonial Penn | $48/month | $67/month | $85/month |
| United of Omaha | $39/month | $55/month | $71/month |
*Rates shown for simplified issue policies. Guaranteed acceptance rates may be 20-40% higher.
What Increases Your Chances of Approval?
Application Success Tips
- Be honest about health conditions – Companies verify medical information
- Consider simplified issue first – Often better rates than guaranteed acceptance
- Apply while healthy – Rates increase with age and health decline
- Compare multiple companies – Each has different health guidelines
- Work with experienced agents – They know which company fits your situation
- Consider graded vs. immediate benefits – Choose based on your timeline
Frequently Asked Questions
What’s the difference between guaranteed acceptance and simplified issue burial insurance?
Direct answer: Guaranteed acceptance policies require no health questions and accept all applicants, but have higher premiums and graded death benefits. Simplified issue policies ask basic health questions, offer better rates, and provide immediate full coverage.
Guaranteed acceptance typically has a 2-year waiting period where natural death benefits are limited, while simplified issue provides full benefits immediately if you qualify health-wise.
Can I get burial insurance if I have serious health problems?
Direct answer: Yes, guaranteed acceptance burial insurance policies are specifically designed for seniors with serious health conditions and accept all applicants regardless of health status.
Companies like Mutual of Omaha, Gerber Life, and Colonial Penn specialize in guaranteed issue policies that don’t require medical exams or health questions, making coverage accessible even with conditions like cancer, heart disease, or diabetes.
How much burial insurance coverage do I need?
Direct answer: Most seniors need $10,000-$20,000 in burial insurance coverage to handle funeral costs, final medical bills, and small debts, though individual needs vary based on funeral preferences and outstanding obligations.
Consider your desired funeral type (burial vs. cremation), outstanding debts, final medical expenses, and whether you want to leave something extra for loved ones. A licensed agent can help calculate your specific needs.
What is the graded death benefit period?
Direct answer: A graded death benefit means that if you die from natural causes within the first 2-3 years of the policy, your beneficiaries receive only premiums paid plus interest, not the full death benefit. Accidental death pays the full benefit immediately.
This waiting period applies mainly to guaranteed acceptance policies and protects insurance companies from adverse selection. After the graded period ends, the full death benefit is paid regardless of cause of death.
Can my burial insurance be used for anything other than funeral expenses?
Direct answer: Yes, burial insurance death benefits can be used for any purpose your beneficiaries choose, including medical bills, debts, living expenses, or anything else, not just funeral costs.
While called “burial” or “funeral” insurance, these policies are actually small whole life insurance policies that pay cash benefits to your beneficiaries. They have complete discretion over how to use the money, though most is typically used for final expenses.
Is burial insurance worth it if I already have some savings?
Direct answer: Burial insurance can still be valuable even with savings because it provides guaranteed funds immediately available to beneficiaries without probate delays, protects your savings for other purposes, and ensures funds are specifically designated for final expenses.
Life insurance proceeds are typically paid within days of filing a claim, while accessing savings or other assets may take weeks or months through probate. This can be crucial when funeral homes require immediate payment.
Get Your Free Burial Insurance Quotes Today
Our licensed professionals specialize in burial insurance for seniors. We’ll compare rates from multiple top-rated companies and find the best coverage for your age, health, and budget. No obligation, no pressure – just expert guidance.
Call 888-211-6171 Now
Licensed agents available Monday-Friday 8 AM – 8 PM EST
Specializing in burial insurance for seniors aged 50-85
Disclaimer: This article provides general information about burial insurance and should not be considered personalized insurance advice. Rates, availability, and underwriting guidelines vary by state, company, and individual circumstances. The information presented is based on publicly available data and our experience in the burial insurance market. We recommend consulting with licensed insurance professionals to determine the best coverage for your specific situation.
