HomeBurial insurance
Burial insurance, plainly explained
Burial insurance is a small whole life policy, usually $5,000 to $25,000, bought to cover a funeral. The premium never rises, the coverage never expires while you pay it, and for most people over 50 there is no medical exam, only health questions.
What it costs
Roughly what a $10,000 policy runs per month, by age, for a non-smoker in reasonable health. Every carrier prices differently, which is the entire reason to compare rather than take the first offer.
| Age | Male | Female |
|---|---|---|
| 50 | $34/mo | $27/mo |
| 55 | $42/mo | $32/mo |
| 60 | $53/mo | $39/mo |
| 65 | $70/mo | $51/mo |
| 70 | $96/mo | $68/mo |
| 75 | $133/mo | $95/mo |
| 80 | $190/mo | $137/mo |
Illustrative figures for a $10,000 level benefit policy, non-tobacco. Your rate depends on age, health, tobacco use and state. A quote takes a few minutes on the phone.
Why the price differs so much between companies
Carriers disagree about health. Mutual of Omaha is strict on health questions and rewards a clean answer with the best rate. Others deliberately accept applicants who get declined elsewhere and charge for it. The same person can be quoted 40% apart by two companies on the same day, both correctly.
The notes below are editorial observations about the market. Inclusion does not mean we represent that carrier.
| Carrier | Known for |
|---|---|
| Mutual of Omaha | Strict on health questions, best rates for clean applicants |
| Aetna / Accendo | Competitive for tobacco users |
| American Amicable | Often approves conditions others decline |
| Americo | Fast underwriting, no medical exam |
| Transamerica | Accepts many applicants other carriers decline |
| Corebridge Financial | More lenient on health history |
| Foresters Financial | Membership benefits alongside the policy |
| Royal Neighbors of America | Fraternal, strong for female applicants |
| Gerber Life | Guaranteed acceptance, two-year waiting period |
| AARP / New York Life | Heavily advertised, rarely the cheapest |
How much coverage to buy
Match it to the actual bill, not a round number. A burial with the cemetery included is commonly $15,395; a cremation with a service is far less. Run your state through the calculator and buy to that figure.
Common questions
Can I be turned down?
For a level benefit policy, yes. But guaranteed issue policies accept everyone, so coverage of some kind is available at any health status, and it simply carries a two-year waiting period. More on waiting periods.
Does the premium go up?
No. Whole life premiums are fixed for life. Beware anything sold as increasing term.
What if I stop paying?
The policy lapses, though most build a small cash value you can access. Buy a premium you can sustain rather than the largest policy you can just about afford.
Get an actual number for your situation
Age, state and a few health questions is all it takes. No obligation, no email required.
(786) 818-0383Talk to one of our licensed agents