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Pricing


WHAT’S MY PRICE?

To get you exact pricing, we (or any other company) will need to know your:

  • Gender
  • Age
  • Smoker/non-smoker status
  • State you live in
  • Basic health information
  • Desired coverage

That’s seven variables needed to get you a plan with the most value, the lowest pricing, and first-day coverage.

If you want to see actual sample pricing, view the chart at the bottom of this article (male & female pricing included)

WHAT COMPANIES ARE BEST?

At Funeral Funds, all of our plans offer 1st-day coverage or benefits. We don’t encourage people to buy policies with 2-year waiting periods…ever!

Below is a list of almost all the final expense life insurance companies in the United States. Some companies are better than others. Some have 1st-day coverage, some do not.

Here is a list of most of the final expense companies in the United States (in alphabetical order):

  • AAA Life Insurance: EXPENSIVE! 2-year waiting period only. No health questions.
  • AARP: Low Price BUT Term life, 5-year price increases, cancels after age 80
  • AETNA (CVS Health): Low price. Good for overweight people & COPD
  • Allstate: Expensive & strict underwriting
  • Assurant/American Memorial: Moderate pricing
  • Americo: Expensive & terrible smoker rate program
  • American Amicable: Moderate rates, good smoker rates
  • AIG/American General: EXPENSIVE! 2-year waiting period only. No health questions.
  • Christian Fidelity: In-person application only
  • Family Benefit: : GREAT PRICING & easy underwriting, great for diabetics
  • Farmers Insurance: Expensive & strict underwriting
  • Foresters: Moderate rates about 8% more expensive
  • Gerber: EXPENSIVE! 2-year waiting period only. No health questions.
  • Globe Life: Term life insurance, 5-year price increases, cancels after age 80
  • Great Western: EXPENSIVE! 2-year waiting period only. No health questions.
  • Grange Insurance: Average pricing
  • Greek Catholic Union: Good pricing, limited state availability
  • Guarantee Trust Life: GREAT for CHF, COPD, heart problems, serious health issue
  • Liberty Bankers Life: Niche carrier for specific health problems
  • Lifeshield Life Insurance Company: Average pricing
  • Lincoln Heritage: EXPENSIVE! About 40% more expensive & up to 3-year wait plan
  • Mutual Of Omaha: No same day approval, slow & difficult underwriting
  • New York Life: Low Price BUT Term life, 5-year price increases, cancels after age 80
  • Oxford Life: Good pricing, in-person application only
  • Pioneer Insurance Company: More expensive
  • Prosperity Life/SUSA: Niche carrier some health problems, good with seizures
  • Royal Neighbors Of America: GREAT PRICING FOR for overweight & recent hospitalizations & diabetics
  • Security National Life: Moderate pricing
  • Sentinel Security: Moderate pricing
  • Standard Life And Casualty: Moderate pricing
  • State Farm: Expensive & strict underwriting
  • Transamerica: Slow & difficult underwriting
  • Trinity Life: GREAT PRICING & easy underwriting, great for diabetics
  • TruStage: Low Price BUT Term life, 5-year price increases, cancels after age 80
  • United Home Life: More expensive

Shopping for all of these companies is often difficult to impossible for most consumers. The best solution for most people is to allow Funeral Funds to help compare our 1st-day coverage policies to all of the companies shown above.

We can then educate and inform you on how to qualify for the best benefits that offer the most value.

But keep reading to find out more…

TERM LIFE INSURANCE COMPANIES

Term life insurance is NOT appropriate for final expense life insurance (unless you know the exact date you will die).

Why would you choose a term life insurance plan that will cause your price to increase every 5 years and cancel after you turn age 80? (exactly at the time when you need this insurance the most.

Term life is cheap at first and gets more expensive as time goes on…until it flat out cancels on you before you die, and all that money you invested is gone…bad stuff!

Common term life companies:

  • AAA Life Insurance
  • AARP
  • Fidelity Life
  • Globe Life
  • New York Life
  • TruStage

2-YEAR WAITING PERIOD COMPANIES

Why would you ever buy a policy that won’t pay out a penny in death benefit in the first 2 years?

You might say, “Well, I’m pretty healthy, and I don’t expect to die in the next two years, so I’m OK with a waiting period”.

Here’s some bad news for you…nobody who is reasonably healthy ever expects to die in the next two years…and yet people die unexpectedly all the time.

Don’t get suckered into buying a terrible and very costly 2-year waiting period plan!

When you work with a company like Funeral Funds, our #1 goal is to always help you qualify for first-day coverage or benefits.

Common Guaranteed Issue Whole Life 2-year waiting period companies:

  • AIG
  • American National
  • Colonial Penn
  • Gerber Life
  • Great Western
  • Lincoln Heritage (watch out for their 3 year wait plans…yikes!)
  • Mutual of Omaha

THE $9.95 “PER UNIT” MYTH

Colonial Penn offers $9.95 plans…but for how much coverage?

  • If you are a 73-year-old man, $9.95 will buy you $620 in coverage…with a 2-year waiting period to suffer through!
  • If you are a 73-year-old woman, $9.95 will buy you $880 in coverage…with a 2-year waiting period to suffer through!

Be cautious of ANY company that offers “teaser rates” or “bait at switch” rates that seem too good to be true.

Here is the actual Colonial Penn pricing on a per-unit basis. (remember, you can only buy a maximum of 8 units total!)

AGEUNITS (MAX 8 UNITS)COVERAGEMONTHLY PREMIUMMALE COVERAGE AMOUNTFEMALE COVERAGE AMOUNT
5012-Year Wait$9.95$1,786$2,083
5112-Year Wait$9.95$1,732$2,068
5212-Year Wait$9.95$1,676$2,022
5312-Year Wait$9.95$1,621$1,973
5412-Year Wait$9.95$1,562$1,929
5512-Year Wait$9.95$1,506$1,884
5612-Year Wait$9.95$1,452$1,838
5712-Year Wait$9.95$1,392$1,786
5812-Year Wait$9.95$1,333$1,732
5912-Year Wait$9.95$1,273$1,676
6012-Year Wait$9.95$1,214$1,621
6112-Year Wait$9.95$1,157$1,562
6212-Year Wait$9.95$1,099$1,506
6312-Year Wait$9.95$1,043$1,452
6412-Year Wait$9.95$987$1,392
6512-Year Wait$9.95$932$1,333
6612-Year Wait$9.95$880$1,273
6712-Year Wait$9.95$834$1,214
6812-Year Wait$9.95$792$1,157
6912-Year Wait$9.95$753$1.099
7012-Year Wait$9.95$717$1,043
7112-Year Wait$9.95$683$987
7212-Year Wait$9.95$652$932
7312-Year Wait$9.95$620$880
7412-Year Wait$9.95$589$834
7512-Year Wait$9.95$560$792

ACTUAL MALE & FEMALE PRICING (65 YEARS OLD)

Here is the actual pricing for many of the common plans. As you can see, it pays to shop around for the best pricing.

At Funeral Funds, we are committed to getting you the best benefits and lowest pricing!

FEMALE 65 YEARS OLDPLANMONTHY PREMIUM
MONTHLY OVERPAY10 YEARS OVERPAY20 YEARS OVERPAY
OUR RECOMMENDED PLAN$41.28$0.00$0.00$0.00
AIGGuaranteed Issue Whole Life$66.42$25.14$3,016.80$6,033.60
American-AmicableInnovative Solutions Immediate$50.95$9.67$1,160.40$2,320.80
American Home Life Insurance Co.Level Benefit$52.02$10.74$1,288.80$2,577.60
AmericoEagle Premier Level$52.83$11.55$1,386.00$2,772.00
Columbian Financial Group (CFG)Classic Select$55.30$14.02$1,682.40$3,364.80
ForestersPlanRight Level Standard$64.51$23.23$2,787.60$5,575.20
Fidelity LifeSenior Term 20 Graded$56.12$14.84$1,780.80$3,561.60
Geber LifeGuaranteed Issue$62.61$21.33$2,559.60$5,119.20
Great WesternAssurance Plus$64.92$23.64$2,836.80$5,673.60
GCUEternal Advantage Standard Level$61.82$20.54$2,464.80$4,929.60
Liberty Bankers LifeSIMPL Standard$57.35$16.07$1,928.40$3,856.80
Lincoln HeritageFuneral Advantage Level$57.46$16.18$1,941.60$3,883.20
Mutual of OmahaUnited of Omaha - 2 year wait$52.48$11.20$1,344.00$2,688.00
ProsperityNew Vista Graded$95.63$54.35$6,522.00$13,044.00
Security NationalSecurity Care Select$74.73$33.45$4,014.00$8,028.00
Sentinel Security LifeNew Vantage II Graded$60.77$19.49$2,338.80$4,677.60
Senior LifePreferred Whole Life$66.16$24.88$2,985.60$5,971.20
TransAmericaEasy Solution Standard$49.25$7.97$956.40$1,912.80

MALE 65 YEAR OLD$10,000 POLICYMONTHLY PREMIUMMONTHLY OVERPAY10 YEARS OVERPAY20 YEARS OVERPAY
OUR RECOMMENDED PLAN$53.75$0.00$0.00$0.00
AIGGuaranteed Issue Whole Life$90.83$37.08$4,449.60$8,899.20
American-AmicableInnovative Solutions Immediate$64.50$10.75$1,290.00$2,580.00
American Home Life Insurance Co.Level Benefit$67.30$13.55$1,626.00$3,252.00
AmericoEagle Premier Level$65.40$11.65$1,398.00$2,796.00
Columbian Financial Group (CFG)Classic Select$76.43$22.68$2,721.60$5,443.20
ForestersPlanRight Level Standard$92.75$39.00$4,680.00$9,360.00
Fidelity LifeSenior Term 20 Graded$65.35$11.60$1,392.00$2,784.00
Geber LifeGuaranteed Issue$85.16$31.41$3,769.20$7,538.40
Great WesternAssurance Plus$74.25$20.50$2,460.00$4,920.00
Greek Catholic UnionEternal Advantage Standard Level$78.89$25.14$3,016.80$6,033.60
Liberty Bankers LifeSIMPL Standard$81.33$27.58$3,309.60$6,619.20
Lincoln HeritageFuneral Advantage Level$68.06$14.31$1,717.20$3,434.40
Mutual of OmahaMutual of Omaha (2-year wait)$64.77$11.02$1,322.40$2,644.80
ProsperityNew Vista Graded$95.63$41.88$5,025.60$10,051.20
Security NationalSecurity Care Select$74.73$20.98$2,517.60$5,035.20
Sentinel Security LifeNew Vantage II Graded$83.95$30.20$3,624.00$7,248.00
Senior LifePreferred Whole Life$78.57$24.82$2,978.40$5,956.80
TransAmericaEasy Solution Standard$75.74$21.99$2,638.80$5,277.60

ADDITIONAL RIDERS AVAILABLE

Some companies offer riders at an additional cost, and some companies offer riders that are free of charge. The companies with the most riders are not always the best company when considering pricing and coverage options.

Here are some rider-specific features:

  • Terminal Illness – included at no extra cost
  • Nursing Home Confinement – included at no extra cost
  • Accidental Death – additional fee to add to policy & often cancels at age 70
  • Children Rider – additional fee to add to policy
  • Grandchildren Rider – additional fee to add to policy
INSURANCE COMPANIESTERMINAL ILLNESSNURSING HOMEACCIDENTAL DEATHCHILDRENGRANDCHILDREN
American Amicable
Family Benefit
Fidelity Life
Foresters
Great Western
Liberty Bankers
Lincoln Heritage
Mutual Of Omaha
Phoenix Life
Prosperity Life
Security National
Sentinel Security
TransAmerica
Trinity Life
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