Below we cover the basics of life insurance, from life insurance definitions to understanding insurance riders.

With average funeral costs in America ranging between $7,000 and $12,000, it’s important to plan how your final expenses will be covered. 

This is where burial insurance comes into play; sometimes called final expense insurance or funeral insurance.

These policies provide your family with the money to pay for your funeral costs.

Our #1 Pick

Ethos is our #1 pick overall for the best burial insurance for seniors. Their application is super fast, their site is easy to navigate, and they have some of the lowest rates.

In this guide, we will cover five of the best burial insurance companies for seniors to help you narrow down the field. You’ll also find a detailed buyer’s guide that will go over things like, what is burial insurance, the average cost of burial insurance, and much more.

The Best Burial Insurance Companies For Seniors In 2022!

Best Overall

Ethos 

5.0

Ethos gets our #1 pick for burial insurance in 2022.

The simple application process is easy to navigate, and you won’t need a health exam to be accepted.

Here are a few other reasons why Ethos is our best overall pick:

• $2,000 to $40,000 benefit amounts available
• Guaranteed premiums
• Policy never expires
• Cash value available
• You can name multiple beneficiaries

Best For Fast Underwriting

Mutual of Omaha

5.0

Mutual of Omaha gets our #2 pick for burial insurance in 2022.

Founded in 1909, Mutual of Omaha has an excellent track record and is well-known for providing outstanding customer service. 

The simple application process is easy to navigate, and you won’t need a health exam to be accepted.

Here are a few other reasons why Mutual of Omaha is our best overall pick:

• $2,000 to $40,000 benefit amounts available
• Guaranteed premiums
• Policy never expires
• Cash value available
• You can name multiple beneficiaries

You’ll also find that Mutual of Omaha accepts a range of pre-existing conditions, such as type 2 diabetes, Crohn’s Disease, high blood pressure, and squamous cell skin cancer.

These factors, combined with their lower than average premiums, make Mutual of Omaha our best overall pick. 

Best for Liberal Underwriting

Royal Neighbors

4.8

While not the most recognizable name on the list, Royal Neighbors has been in business since 1895.

Their Simplified Issue Whole Life Policy earns a place on our list for its liberal underwriting policies, particularly for applicants with pre-existing conditions like diabetes. 

A few other highlights of Royal Neighbors include:

• Coverage never expires
• Option for immediate coverage
• Guaranteed premiums

As another bonus, Royal Neighbors offers policyholders benefits like dental discounts, vision discounts, prescription drug savings, and retail benefits at no extra charge.

These are uncommon features of burial insurance for seniors over 70. 

Best for Pre-Existing Conditions

American Amicable

4.5

Pre-existing conditions are the #1 reason why applicants are denied a burial insurance policy or forced to pay high premiums.

But American Amicable accepts pre-existing conditions like tobacco use, bi-polar disorder, schizophrenia, and depression while keeping premiums comparatively low.

Other benefits of a policy with American Amicable include:

• Guaranteed premiums
• No health exam required
• Simple application process
• Coverage never expires

American Amicable also offers several optional riders that greatly enhance your policy.

These include options for accidental death benefits as well as a nursing home waiver.

Best for High-Risk Conditions

Americo

4.7

If you have high-risk health conditions such as COPD, Americo is one of the few companies with a policy that will offer you coverage from the day your policy starts.

The company will also accept other high-risk conditions, such as heart attacks, strokes, and seizures.

A few other benefits of choosing a policy with Americo include:

• Guaranteed premiums
• Policy never expires
• Quick approval time
• No medical exam required

Americo is also notable for offering tobacco users lower premiums comparable to those of non-smokers.

Best for High-Risk Conditions

AIG

4.5

If you’re in search of a guaranteed issue policy, AIG may be your best option.

Their simple application process doesn’t require any medical examinations, and the company does not ask any questions about your health history.

While most guaranteed issue policies come with high premiums, AIG offers much more competitive rates.

They are also one of only a few companies offering burial insurance for seniors over 80.

Other benefits of a policy from AIG include:

• Guaranteed premiums
• Policy never expires
• Can borrow against the cash value
• Fast approval time

What Is Burial Insurance for Seniors?

Burial insurance for seniors is a form of life insurance intended to cover the cost of your final expenses. A burial insurance policy will help ease the financial burden your loved ones may face after you’re gone. The death benefit on these policies are typically smaller than whole life and term life insurance policies but are much easier to qualify for with no medical exams required and depending on the type of policy, no health questions either. 

How Much Does Burial Insurance for Seniors Cost?

The average monthly premium for burial insurance is around $50. Your premium cost will depend on factors that include your age, gender, location, overall health, height and weight, tobacco usage and pre-existing conditions to name a few.

THE SIMPLY INSURANCE WAY

Burial Insurance made easy!

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

GET INSTANT BURIAL INSURANCE QUOTES

Of course, the policy and amount you select and the provider you choose to work with will also play parts in determining your price. 

How to Get Final Expense Insurance With No Waiting Period

Many companies offer burial insurance for seniors over 60 with no waiting period.

No waiting period simply means that your beneficiary can receive the full benefit amount as soon as the policy is in place. Policies with no waiting period almost always require you to submit to a health exam before you’re approved.

A medical exam allows the insurance company to assess your risk level.

If you don’t have any serious health conditions such as cancer or HIV/AIDS and pass the medical exam, your approval for a policy with no waiting period is more likely. If you don’t qualify for a policy with no waiting period outright, you still may be able to pay a higher premium to get that waiting period reduced. 

Types of Burial & Funeral Insurance Coverage

You’ll find that insurance companies offer two different types of policies: standard and pre-need. 

Standard

Standard policies provide beneficiaries with a monetary benefit after the policyholder passes away.

The money provides for the policyholder’s final expenses, such as the cost of the funeral, and can also pay debts, such as credit cards, loans, mortgages, and car payments.

Pre-need

Pre-need policies allow you to pre-plan for your final arrangements. The benefit from these policies goes right to the funeral home that will be handling your funeral instead of a beneficiary.

INSURANCE WHERE YOU LIVE

Burial insurance by state.

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Pros & Cons Of Burial Insurance

It’s important to weigh the pros and cons of a burial insurance policy before you commit to purchasing.

While the policy coverage varies by company, consider these factors when evaluating what’s best for your needs:

Pros

• Financial security for your loved ones
• Cash value available 
• Easy to get approved with no health exams necessary

Cons

• Monthly premiums may be difficult for seniors on a tight budget
• Benefit amounts are lower than other types of life insurance
• Guaranteed acceptance policies have higher rates

THE SIMPLY INSURANCE WAY

Burial Insurance made easy!

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

GET INSTANT BURIAL INSURANCE QUOTES

How to Compare Policies for Seniors

Begin comparing senior burial insurance policies by determining what you need from them. When you’re considering a policy, look for these features:

• Medical Exam: Do you need to have a medical exam for acceptance? 
• Additional Benefits: Are there any riders available to further enhance your policy? 
• Administrative or Annual Fees: Does the company charge an annual fee? If so, how much?
• Waiting Period: Is there a mandatory waiting period, or is your beneficiary able to receive the full benefit immediately?
• Premiums: Does the company lock in your premium price, or will it increase as you get older? Are there any discounts available? 
• Qualifications: Are there any qualifying factors you need to meet, like age requirements? For example, many companies do not offer burial insurance for seniors over 90.

Take Action 

Now that you know about the best burial insurance policies for seniors and how to compare them, you can decide which one is right for you.  If you need burial insurance, you can get immediate quotes and coverage by clicking here or on any of the above buttons. 

Our Verdict

4.7

While death is a part of life, it’s not something most people actively plan. Many families end up with sticker shock when they discover the average funeral costs $7,000 to $12,000.

Burial insurance from AARP lets you plan for these expenses and take the financial sting out of a loved one’s passing.

Burial insurance covers significant costs when you or a loved one dies.

Pros

• Guaranteed approval
• May not require a health questionnaire
• Options for lifetime protection
• Provides up a death benefit of up to $25,000

Cons

• Possible two-year waiting period for death benefits
• Features an additional mortality risk charge

Who Is AARP?

AARP (The American Association for Retired Persons) isn’t an insurance company.

It is a non-profit interest group dedicated to helping “people turn their goals and dreams into real possibilities.”

They have nearly  38 million members, all of who are older Americans.

Founders Ethel Percy Andrus and Leonard Davis started AARP in 1958. Members can join for a range of discounts across insurance, auto, and travel products for a $16 annual fee. AARP has an Aa3 debt rating from Moody’s, but no grades from Standard & Poor’s or Fitch. AARP also gives out its fair share of awards for community members and popular culture.

What Makes AARP Different?

Getting burial insurance through AARP is an attractive option if you can’t get insurance anywhere else.

The guaranteed issue whole life insurance does not require a medical survey or health questionnaire. You should consider burial insurance if you:

• Don’t have a life insurance policy
• Want burial insurance that is separate from your life insurance
• Are worried about burdening your family with funeral expenses
• Don’t have the funds to pay for funeral expenses

AARP offers three different policies with the most affordable option paying $25,000 in death benefits and having a minimum death benefit of $2,500.

Features and Benefits of AARP Burial Insurance

AARP offers three ways to cover final expenses: term life, whole life, and guaranteed life insurance.

The policies range in death benefits and selectivity. Here are overviews of each one, so you can make the right selection for your family.

Level Death Benefit Term Life Insurance

Those in search of the ultimate insurance coverage from AARP apply for term life.

The policy pays $10,000 to $100,000 in final expenses and is available for members in all 50 states.

It stands out as the organization’s flagship product and expires when the policyholder reaches age 80.

Term life insurance covers policyholders for a set period, which necessitates qualifications for who can apply.

You must be 50 to 74 years old to receive an AARP policy. Spouses can apply if they are 45 to 74.

AARP increases term life premiums every five years. The price hike depends on your original rate, death benefits, and health. AARP requires applicants to disclose underlying medical conditions.

You may not qualify if you’ve:

• Received treatment for cancer, stroke, heart failure, AIDS, or other chronic conditions in the past two years
• Been in the hospital, a nursing home, or a treatment facility in the last two years
• Gone to the doctor for treatment, medication, or a diagnosis in the last three months

While level death benefit term life insurance has an attractive payout, it is not ideal for covering end-of-life expenses.

The death benefit isn’t paid if the policyholder lives past 80.

The increasing premium especially stings because other companies offer policies with monthly premiums for half the price.

Simplified Issue AARP Whole Life Insurance

Simplified issue AARP whole life insurance provides $5,000 to $50,000 in death benefits.

It’s available to members in all 50 states between the ages of 50 and 80.

The policy terms never change, unlike term insurance, so premiums remain flat as long as you hold the policy.AARP guarantees the death benefit from the day you take out coverage.

It does require a health survey to identify potential health complications and includes the same disqualifications as whole life insurance.

Prices start at $13 per month for women and $17 for men.

AARP Guaranteed Life Insurance

AARP guaranteed life insurance offers $2,500 to $50,000 in death benefits for members ages 50 to 80.

It is available in all states, except Washington and New Jersey.

The premiums and death benefits never decrease as long as you maintain monthly payments.

However, AAR guaranteed life insurance has a glaring caveat: a two-year waiting period.

Policyholders can’t receive a death benefit for a non-accidental death within the first two years of coverage. Prices start at $20 for women per month and $23 for men.

INSURANCE WHERE YOU LIVE

Life insurance by state.

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AARP Burial Insurance Availability

All three AARP burial insurance policies are available nationwide, with some minor restrictions for guaranteed life coverage.

Applicants need to be at least 50 years old, unless they are a spouse, in which case they can apply at age 45.

Term policies last up to 30 years, while whole life insurance only ends upon death.

Claims Process and Guarantee

It’s worth noting that AARP doesn’t sell insurance policies. New York Life supplies the policies, and AARP offers them to members.

When you need to submit a claim, you have to go through a joint website, www.nylaarp.com.

Start your claim by calling New York Life at (800) 695-5165 or downloading a claims packet.

The packet includes eight pages of information to process the death benefit and answers to frequently asked questions.

Make sure you have the deceased’s contract number, date of death, and cause of death before starting.

Taking Action

Burial insurance rates through AARP may not be the cheapest, but they are accessible. You can getup to $25,000 without the hassle of medical questionnaires.

The policy covers essential post-life expenses, including funerals, ceremonies, and other related costs.

If you need burial insurance there is no need to wait around, click here to get some quotes from AARP via New York Life and get covered. 

In This article

• Who Is AARP?
• What Makes AARP Different?
• Policy Features & Benefits
• Product Availability
• Claims Process & Guarantees
• Taking Action