Funeral Insurance for Seniors

Couple Thinking About Funeral Insurance for Seniors

As the cost of the funeral continues to increase, it’s becoming more important to purchase funeral insurance for seniors to cover burial and final expenses. The average cost of a funeral according to NFDA is $8,755! If you don’t already have a burial life insurance policy, this cost can be a burden adding to the grief of losing a loved one. Funeral insurance for seniors will help protect your family from unexpected costs associated with the funeral.

Many companies offer affordable funeral insurance for seniors of all ages. Around 95% of the people, we help qualify for funeral insurance coverage that has no waiting period.

In this article, we will explore how funeral insurance for seniors work, how to find the best funeral insurance company, what goes into the underwriting, and how you can apply.



Funeral insurance is also called burial insurance and final expense life insurance for seniors.

All of these terms are commonly used to describe whole life insurance policies for people between the age of 50 and 85. Paying for the funeral, burial and other final expenses are the primary reason why most people prefer to buy these policies.


  • Whole life or permanent insurance
  • Monthly payments are fixed and guaranteed not to increase for any reason
  • The death benefit cannot decrease
  • The policy will not expire due to age or health condition
  • Cash value accumulates on a tax-free basis.
  • Death benefits range between $1,000 and $50,000


There are two types of burial insurance or funeral insurance for seniors:

Simplified issue life insurance (Level benefit) – the application process is simplified compared to traditional life insurance for seniors that requires a medical exam. Simplified issue policies ask basic health questions to get a better look at your overall health.

Potential questions life insurance companies would ask:

  • Do you have a disability that needs a wheelchair or confinement to a nursing home?
  • Do you have a diagnosis of severe illness like cancer in the last two years?
  • Do you have heart disease?
  • Have you had a stroke?
  • Do you have kidney disease?
  • Do you have HIV?
  • Do you have any cognitive impairment?

Minor health issues like diabetes without insulin, high blood pressure, high cholesterol, and other health issues are not even considered for these types of policy; they treat these health issues as if they don’t even exist! They are not even considered as an eligibility requirement!

They ask health questions to rule out higher risk life insurance applicants, like those people with heart disease or cancer. Most health conditions will be approved for burial insurance with no waiting period because it’s a life insurance policy that starts immediately. More serious health issues will still be eligible for graded or guaranteed coverage policies.

Simplified issue life insurance is a great option for people over 55 years old, who may have health problems that could make it difficult for them to get coverage through the normal life insurance underwriting process. Simplified issue final expense life insurance no exam could be a great option if you’re not in perfect health or if you have a  busy schedule that will not allow you to have a medical exam.

Guaranteed issue life insurance (Graded benefit) – this type of policy is designed specifically for seniors who may have difficulty gaining approval because of health issues. This is the most common type of burial insurance for elderly parents. The guaranteed issue final expense life insurance no exam does not require an applicant to undergo a medical exam or answer health questions for approval. Applicants with life-shortening pre-existing conditions can still be approved.

The insurance companies take higher risks in offering guaranteed issue policies. That is why they typically impose a two year waiting period before they pay the full death benefit (although accidental death is covered from the first day). If you were to die during the waiting period your beneficiary would only receive the return on premiums plus interest.


If you are asking yourself is it worth getting funeral insurance? Here are the advantages of funeral insurance for seniors.

No medical exam  – Funeral insurance for seniors does not require you to undergo a medical exam. These policies can be completed on a simplified basis. You only have to answer some health questions, and guaranteed issue policy doesn’t even have any health questions.

No health questions policies available – if you have health issues and don’t want a medical exam and questions asked, there is a funeral insurance option for you – it is called a guaranteed issue policy. Everyone is guaranteed to be approved regardless of health issues. The only drawback is the price and the two-year waiting period.

Relaxed underwriting – since there is no medical exam and you only have to answer a few health questions, it is uncommon for applicants not to qualify. Guaranteed issue policies even accept all applicants without underwriting.

Fast approval – final expense life insurance for seniors applicants do not have a medical exam, so there is quick approval of the application. Your application can be approved in a matter of minutes to a few business days.

Permanent coverage – burial insurance plans are whole life policies that are locked in for life. The coverage cannot expire because of increasing age or worsening health conditions. The premiums remain level and cannot increase for the life of the policy. The death benefit is locked in and cannot decrease for any reason.

Cash value – funeral insurance is whole life insurance that accumulates cash value over time. You can use the cash value to pay the premiums, or you can borrow from the policy when you have emergencies.

Small face value options – you can buy as little or as much coverage as you need. The face amount you can buy range from $1,000 to $50,000 in coverage.

Fast claims payout – since funeral insurance is designed to pay for the funeral and other final expenses, payouts are done quickly (unlike traditional insurance which may take months to pay out). Once the proper paperwork is submitted, you can wait for your claim to be paid within a few days to a week.

Portable – senior final expense life insurance plan is not “locked-in” with any funeral parlor. The insurance company pays in cash, and your beneficiary will receive a tax-free check which is equivalent to the face amount of your policy; your loved ones have the flexibility to have your funeral service wherever they choose.

Many carriers to choose from – there are many insurance companies offering burial insurance for seniors in the market today. Everyone has a unique underwriting which means you will surely find one that will accept your health issues. All you have to do is fill out the quote form on this page to start your search.


When you purchase funeral insurance, your beneficiaries can use the payout to pay the following costs:

  • Funeral service fees
  • Embalming
  • Cremation
  • Funeral facilities
  • Funeral staff fees
  • Casket/Urn
  • Vault
  • Headstone
  • Digging and filling of the grave
  • Funeral hearse
  • Flowers
  • Burial plot

Assess the cost of everything you need for the funeral to determine how much insurance coverage you need. You can also check our burial insurance calculator article to get a better idea.

Also, consider other costs such as medical bills, credit card debts and any outstanding debts you have. Considering all these things will make it easy to calculate how much insurance coverage you should get. If you are not sure how much you need, call Funeral Funds and we can help you determine the right coverage amount for your needs.


The cost of funeral insurance for seniors will ultimately depend on the type of policy you choose; either simplified issue or guaranteed issue.

The face amount, the insurance provider, your gender, age, and health condition during the applications all work together to determine what your monthly or annual premium will be.

Most companies offer little savings on premium if you pay annually, but you can pay monthly, quarterly, or semi-annually.

Here is an example of what you can expect to pay.

  • A female in her 60’s can expect to get 10K of coverage for approximately $33 a month. She could also get a $20K for $63 a month
  • A male in his 70’s can get $15K for $109 a month. He could even get a $20K for $145 a month.
  • Those in their 80’s can expect to pay $133 per month for $10K of coverage, $197 for 15K, and $263 for $20K of coverage.

These are monthly premium averages and your rates may be less.

The funeral life insurance for senior cost depends on many factors, thus providing a fixed rate without any age or health information can be difficult. However, if you want to obtain free insurance quotes from all the different final expense insurance carriers, you can fill up the quotes form on this page to know the exact current rate on the market for this year.


There are different insurance companies in the market offering funeral insurance for seniors. We compiled a list of insurance companies that provide affordable burial insurance for seniors.

AARP/New York Life (A++ – Superior)

First Year in Business: 1845

Age Limits: 50-80

Face amount options: $2,500-$25,000

AARP Life insurance sold through New York Life has one of the best financial ratings from A.M. Best. AARP easy acceptance life insurance is a guaranteed issue policy (more expensive) where you cannot be rejected regardless of your health condition. The death benefit range from $2,500 to $25,000 and you need to be 50 to 80 years old to qualify

CAUTION – New York Life burial insurance or AARP burial insurance is easy to apply for, but the pricing increases as you get older. Many people have to cancel their policies because they get too expensive as they age (at a time when they need this coverage the most). Burial insurance for seniors AARP has high prices and the pricing increases over time. Contact us for better pricing and coverage options.

MetLife (A+ – Superior)

First Year in Business: 1868

Age Limits: 45-75

Face amount options: $2,500 – $50,000

MetLife burial insurance is a guaranteed issue whole life insurance, it is available for adults between 45 and 75 years old. You are guaranteed approval with this plan. The death benefit ranges from $2,500 to $50,000. MetLife these guarantees: guaranteed death benefit, guaranteed level premium, guaranteed cash value, and the chance to earn dividends annually.

Mutual of Omaha (A+ -Superior)

First Year in Business: 1909

Age Limits: 45-85

Face amount options: $2,000-$40,000

Mutual of Omaha provides some of the lowest rates on funeral insurance for seniors particularly those who are over 80 years old. If you don’t have cancer, heart ailments, major chronic diseases there’s a good chance you will qualify for their plans. If you get approved, Mutual of Omaha burial insurance offers immediate coverage that has no waiting period.

TransAmerica (A+ – Superior)

First Year in Business: 1904

Age Limits: 45-85

Face amount options: $1,000-$50,000

TransAmerica offers two plans with immediate coverage. Both their Preferred and Standard plans come with no waiting period. TransAmerica has a competitive price for most ages. The Immediate Solution plan has no medical exams, or health questions ask. It offers no waiting period to people with COPD, emphysema, or kidney disease.

AIG (A – Excellent)

First Year in Business: 1919

Age Limits: 50-85

Face amount options: $5,000-$25,000

AIG has some of the lowest rates for guaranteed issue life insurance in the market today. AIG burial insurance is a guaranteed issue life insurance for people between 50 and 85 years old. AIG final expense insurance is issued by American General Life in all states except New York. The maximum death benefit is $25,000. Chronic illness rider and Terminal illness riders are included in the plan at no extra cost.

Foresters (A – Excellent)

First Year in Business: 1874

Age Limits: 50-85

Face amount options: $2,000-$35,000

Foresters offer simplified issue funeral insurance policy. Their Plan Right whole life policy has reasonable rates. The policy is priced well, making it one of the most affordable burial insurance in the market today. The death benefit ranges from $2,000 to $35,000, and you can purchase it up to age 80.

Gerber (A – Excellent)

First Year in Business: 1967

Age Limits: 50-85

Face amount options: $5,000 – $25,000

Gerber Life only offers guaranteed issue whole life policy designed for people with a health issue who want to secure affordable insurance coverage. Gerber offers some of the most affordable prices for guaranteed issue life insurance. The plan has a two-year graded benefit, but if the insured dies from accidental death, the full face amount will be paid even during the waiting period.

Assurity (A – Excellent)

First Year in Business: 1890

Age Limits: 0-80

Face amount options: $5,000-$50,000

Assurity offers a simplified issue policy with level benefit and guaranteed issue with graded benefit. LifeScape is a simplified issue policy with immediate coverage from day 1. It does not require a medical exam, but you need to answer some health questions. Assurity offer immediate coverage to people with COPD and emphysema.

Americo ( A – Excellent)

First Year in Business: 1909

Age Limits: 50-85

Face amount options: $2,000-$30,000

Americo offers different whole life insurance products as funeral insurance. The policies are simplified and only require basic health questions to qualify. Their funeral insurance policies offer guaranteed level premiums and coverage cannot be canceled due to advancing age or health issues. Americo offers a low-cost burial insurance policy with no waiting period.


The best way to find the right funeral insurance company if you’re looking for burial insurance for seniors over 70 and burial insurance for seniors over 80 is to compare quotes from different funeral insurance companies to see who offers the best price and the one that suits your needs.

When you’re ready to purchase final expense life insurance no exam, you will need the aid of an independent broker like Funeral Funds to do the shopping for you. We work with the top-rated funeral insurance company in the nation, and we will help you compare policies and prices. You can be assured that you will get the policy you want within your budget.

If you have any questions regarding funeral insurance or you want to know more about life insurance for seniors call us at (888)862-9456.


TV AND MAGAZINE ADVERTISEMENTS – Most burial policies or final expense policies you see advertised on television or in magazines are sold as “the no-brainer way” to shop for this protection.

In reality, most of these policies rely on you having NO BRAIN to purchase them.

Just about everyone is eligible for immediate coverage and better pricing allowed by these heavily advertised policies that cost an arm and leg.

To make a long story short, it is better to shop for burial policies with a specialist in burial insurance, like, than to sign up with a company that spends ba-zillions of dollars each month advertising on television and in magazines.

Increasing Price Policies

Those TV and magazine final expense policies may increase in price every five years or have a two-year waiting period before your benefits kick in! What in tarnation!?!

These policies aren’t all they’re cracked up to be, and you often end up at the short end of the stick by purchasing burial insurance this way.

These tricky television magazine snake oil salesmen lure you in with an attractive rate, only to have the cost of your insurance increase every five years until you cannot afford the premiums, then you must cancel your policy.

What happens after you cancel the policy?

You’ll die and will have wasted all that money because you bought a policy that increases in price as you get older. These policies are not an option for those who are looking for burial insurance for seniors over 60 because they just don’t cut the mustard for most folks!

Avoid policies that increase in price every year or end at a certain age. You don’t want your family to get hung out to dry when they need this coverage the most.

Why choose Funeral Funds for my burial policy?

Most life insurance agents are fine, respectable people.

There are, however, the classic “snake oil” life insurance agents, who will sell you the easiest and most expensive policy possible.

The guaranteed issue folks claim you don’t even need to talk to an agent (but you will need to wait 2 years for your coverage to begin…even if you’re healthy). Answering a few health questions will often get you immediate coverage and MUCH better rates.

 Avoid these people at all costs!

For the rest of the life insurance agents, who are fine respectable people, they are most often generalists.

They deal with all kinds of life insurance policies.

They are Jack of all trades and Masters of none.

They are nice people, but they are not the logical choice if you want the best pricing and a burial insurance policy with no waiting period.

We work with 20+ final expense companies, so we can get you qualified for the best price plan with the intent of getting folks like you immediate coverage when possible.

We have to admit that, for the average burial insurance final expense insurance shopper, all the companies and options will often leave you more confused than a woodpecker in a concrete forest.


The reality is that inexperienced and less knowledgeable insurance agents will cost you loads of money by selling you overpriced burial and final expense policies.

Getting on affordable burial or final expense policy doesn’t have to cost an arm and a leg.

Our job at Funeral Funds is to be the most knowledgeable burial insurance experts available. By doing so, we can knock it out of the park and get you the most accurate burial insurance quotes from the best final expense insurance companies.

Once we know more about your age and health history, we can accurately give you burial insurance quotes from the final expense companies that are the best fit for you.

It is always in your best interest to work with an independent brokerage, such as Funeral Funds.

With access to all the best final expense insurance companies, we will help you understand your best options, given your current age, health, and financial situation.


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