17 Best Burial Insurance Companies

Best Burial Insurance Companies
17 Best Burial Insurance Companies

There are countless options when looking into covering the final costs that are associated with the end of life. When you first start the journey of determining which option best fits your needs, it can be overwhelming.

We are here to help!

Maybe you have determined that burial insurance is the best option for you and now you want to make sure you get coverage from the best company. Or perhaps you are still on the fence and want to learn a bit more.

Regardless of where you are on your buying journey, we hope this article helps answer any questions you have.

Best Burial Insurance Companies

First of all, let’s determine what makes any particular burial insurance company the best. Because the truth is, the plan that is best for you is not necessarily going to be the best for the next person. This is because of the unique underwriting standards that each company has.

So when determining the best policy for any person three things should be taken into account.

Price: The goal of any insurance agent should be to get their client the best price point available based upon their needs.

Policy Structure: Some policies offer full immediate coverage and others institute waiting periods before coverage is available. Obtaining a plan with no waiting period should be a top priority whenever possible.

Company’s Financial Stability: Companies with a strong financial rating are the ones that you will want to work with. Ratings are given by third-party organizations based on the financial stability of the company and its ability to pay out claims. Moving forward with a company that has a high rating will assure that the claim is paid to the beneficiary when due.

Pen and writing

How Does Burial Insurance Work?

Burial Insurance is a type of whole life insurance that goes through a simplified issue underwriting process. This means that policies are easy to obtain and last for the entire life of the insured. When the time comes the listed beneficiary will get the money fast so they are able to carry out the final wishes of the insured in a timely manner.

Simplified Issue Underwriting: Underwriting is the process an application goes through to determine if the insurance company will provide coverage to an individual. Simplified Issue means that this process is done with less analysis than other larger insurance policies receive, including no medical exam.

This policy can be taken out completely over the phone from the comfort of your home. To qualify for immediate coverage you will need to answer questions regarding your health.

Affordable Coverage: These policies are offered with relatively small death benefits up to $40,000. Whereas other traditional policies begin at this price point and can go into the millions. The more coverage a policy has, the more expensive the premiums are. People usually spend somewhere between $50 – $100 a month for burial insurance.

Product Benefits

All whole life policies come with the following benefits regardless of who they are purchased through. Since burial insurance is a type of whole life, it also comes with these advantages.

Price Lock: Once a policy has been issued, the premiums never change. This is not the case with other types of life insurance. When budgeting and looking into the future you’ll want to make sure that the premiums are affordable to avoid a lapse in coverage. With a burial policy, you can rest assured that there will not be a rate increase for any reason.

Coverage Lock: The amount of coverage that you sign up for initially will never fluctuate. It is possible to take out additional coverage later, but the initial amount will never change. This is important for planning purposes so you and your beneficiary know precisely how much money will be awarded when the time comes.

Builds Cash Value: One of the great benefits of whole life coverage is that it builds a cash value that you are able to draw from. This is done automatically by taking a portion of each monthly payment and adding it to the cash value account. Over time this value grows and you are able to take a loan out against the policy, up to the amount of the accumulated cash value.

What Does It Cost?

The cost is determined by the type of plan you get or are able to qualify for. Qualifying is based upon the health requirements set by the company you are applying with.

Life insurance is regulated on the state level, but each company sets its own health qualifying standards, age requirements, and available range of coverage.

Someone who is healthy and takes out a small policy earlier on in their senior years will pay less each month.

Dependent upon where you fall with these will ultimately conclude the price you pay.

$10,000 of Coverage

Monthly Premiums

Non-Smoking

AgeMaleFemale
50$28 – $59$23 – $49
55$34 – $64$27 – $56
60$41 – $75$33 – $66
65$54 – $92$41 – $80
70$70 – $119$52 – $102
75$96 – $158$72 – $138
80$133 – $247$98 – $190
85$183 – $301$136 – $191
90$386$301

17 Best Burial Insurance Companies

The following list is based upon our professional opinions taking into account several factors with company reputation and price carrying the most weight.

#1 Mutual of OmahaMutual Of Omaha Logo

  • Plan Name: Living Promise Level
  • Age Eligibility: 45 – 85
  • Death Benefit Size: $2,000 – $40,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A+ (superior)
  • Full Mutual of Omaha Review

This company is widely considered to be one of the top insurance providers in the industry.

Seniors do have to medically qualify for this Mutual of Omaha plan by answering favorably to the health questions on the application. The prices are some of the lowest available on the market due to the stricter underwriting guidelines this policy goes through. With that said, there are still several health concerns that someone can have and still be able to qualify.

Health Conditions Accepted

Aneurysm | Angina | Arthritis | Crohn’s Disease | Cystic Fibrosis | Depression | Diabetes | Diverticulitis | Epilepsy | Fibromyalgia | Grave’s Disease | Heart Attack | Heart Surgery | High Cholesterol | High Blood Pressure | Pacemaker | Sleep Apnea

Quotes

Living Promise Level

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$29$25
55$35$28
60$43$33
65$56$41
70$74$53
75$100$72
80$133$98
85$183$136
90NANA

*Non-Smoking Rates

#2 Foresters FinancialForesters Financial Logo black and white

  • Plan Name: PlanRight Level
  • Age Eligibility: 50 – 85
  • Death Benefit Size: $5,000 – $35,000 (depending on age)
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: All 50 & DC
  • A.M. Best Company Rating: A (excellent)
  • Full Foresters Finacial Review

PlanRight Level is divided into 2 categories, Preferred and Standard.

These both come with no waiting period but are different in one major way, the price. Standard has slightly more lenient underwriting than Preferred making Standard more expensive.

Foresters Financial also has great member benefits which include discounts on a wide range of medical and legal services.

Health Conditions Accepted

Atrial Fibrillation (A-Fib) | Angioplasty | Asthma | Bipolar | Cirrhosis | Crohn’s Disease | Cystic Fibrosis | Depression | Diabetes | Diabetic Coma | Epilepsy | Fibromyalgia | Grave’s Disease | Hepatitis | High Cholesterol | Insulin Shock | Multiple Sclerosis (MS) | Sarcoidosis | Schizophrenia | Scleroderma | Sickle Cell Anemia | Sleep Apnea

Quotes

PlanRight Level Preferred

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$32$26
55$37$31
60$45$35
65$55$41
70$71$52
75$103$75
80$147$111
85$201$166
90NANA

*Non-Smoking Rates

#3 Royal Neighbors of AmericaRoyal Neighbors Logo black and white

  • Plan Name: Simplified Issue Whole Life
  • Age Eligibility: 50 – 75
  • Death Benefit Size: $7,000 – $35,000
  • Health Questions:  Yes
  • Waiting Period for Benefits: None
  • States Covered: 43 states & DC (excluding AL, AK, HI, LA, MA, NH, NY)
  • A.M. Best Company Rating: A- (excellent)
  • Full Royal Neighbors Review

This is considered to be Level coverage since there is no waiting period assessed.

Royal Neighbors of America does have another burial plan option available with partial coverage during its 2-year waiting period. Most people are able to qualify for Level due to the very lenient underwriting, however, the Graded product is also a great option if you are unable to qualify for immediate coverage from this or another company.

Health Conditions Accepted

Arthritis | Asthma | Bipolar | Crohn’s Disease | Cystic Fibrosis | Depression | Diabetes | Home Health Care | Nephropathy | Neuropathy | Obesity | Retinopathy | Sarcoidosis | Schizophrenia | Scleroderma | Sickle Cell Anemia | TIA

Quotes

Simplified Issue Whole Life

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$40$34
55$46$38
60$50$38
65$59$45
70$75$56
75$110$80
80NANA
85NANA
90NANA

*Non-Smoking Rates

#4 TransamericaTransamerica black and white logo

  • Plan Name: Immediate Solution
  • Age Eligibility: 45 – 85
  • Death Benefit Size: $1,000 – $40,000 (depending on age)
  • Health Questions:  Yes
  • Waiting Period for Benefits: None
  • States Covered:  All 50 & DC
  • A.M. Best Company Rating: A- (excellent)
  • Full Transamerica Review

Within Immediate Solution, there are two options, Preferred and Standard, both of which offer immediate coverage. The main difference is that the Standard plan is slightly more expensive than Preferred which is due to the easier underwriting guidelines.

This Transamerica plan is known for its leniency with lung disease. Seniors with COPD, chronic bronchitis, emphysema, and chronic asthma are all awarded day one coverage while many other insurance providers will not.

Health Conditions Accepted

Anemia | Arrhythmia (A-Fib) | Asthma | Bipolar | Cardiomyopathy | COPD | Chronic Bronchitis | Depression | Emphysema | Lung Disease | Pancreatitis | Parkinson’s Disease | Sarcoidosis | Schizophrenia | Spina Bifida | Tuberculosis | Ulcerative Colitis | Vascular Disorder

Quotes

Immediate Solution Preferred

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$32$26
55$36$30
60$44$34
65$57$42
70$76$55
75$101$74
80$142$105
85$223$165
90NANA

*Non-Smoking Rates

#5 AIGBlack and white AIG logo

  • Plan Name: Guaranteed Issue
  • Age Eligibility: 50 – 80
  • Death Benefit Size: $5,000 – $25,000
  • Health Questions: No
  • Waiting Period for Benefits:  2-years
  • States Covered: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A (excellent)
  • Full AIG Review

This plan from AIG is guaranteed to all who apply. When selecting a plan that is guaranteed to all it usually comes down to price as plans are, for the most part, all the same.

Not only does AIG offer some of the lowest prices for this type of plan but they include additional benefits (riders) for FREE. These riders are a temporary accidental death benefit, a chronic illness accelerated death benefit, and a terminal illness accelerated death benefit.

Smoking and tobacco use are not considered when signing up for this plan, everyone is entitled to the same rates.

Health Conditions Accepted

AIDS | Aneurysm | Angina | Angioplasty | Cancer | Cardiomyopathy | Circulatory Surgery | Cirrhosis | Congestive Heart Failure Defibrillator Implant | Dementia or Alzheimer’s | Diabetic Complications | Dialysis | Heart Attack | Heart Surgery | Hepatitis | HIV | Home Health Care | Kidney Disease | Lung Disease (COPD) | Lupus | Mental Health | Multiple Sclerosis (MS) | Obesity | Oxygen | Pacemaker | Stent | Stroke & TIA | Tumor | Type 1 Diabetes | Wheelchair Confinement

Quotes

AIG Guaranteed Issue

$10,000 of Coverage

Monthly Premiums

AgeMaleFemale
50$52$36
55$57$43
60$63$50
65$84$62
70$98$74
75$138$107
80$246$175
85NANA
90NANA

#6 Oxford LifeOxford Insurance Company Logo

  • Plan Name: Assurance
  • Age Eligibility: 50 – 85
  • Death Benefit Size: $5,000 – $30,000
  • Health Questions: Yes
  • Waiting Period for Benefits: No
  • States Covered: 45 states & DC (excluding AL, MS, MT, NY, WV)
  • A.M. Best Company Rating: A- (excellent)
  • Full Oxford Life Review

Oxford is a lesser-known company when it comes to life insurance but it has several sister companies that you may have heard of. Does U-Haul sound familiar?

As far as plans to cover burial expenses, it has some of the strictest qualifying guidelines but some of the lowest prices as well. Oxford is a financially stable company that is a premier choice for healthy seniors.

Health Conditions Accepted

Aneurysm | Arthritis | Asthma | Blood Clot | Crohn’s Disease | Depression | Diabetes | Diverticulitis | Epilepsy | Fibromyalgia | Grave’s Disease | Controlled High Blood Pressure | High Cholesterol | Nephropathy | Sarcoidosis | Scleroderma | Sickle Cell Anemia | Sleep Apnea

Quotes

Oxford Assurance

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$29$24
55$34$28
60$41$34
65$55$43
70$71$54
75$96$74
80$140$107
85$193$157
90NANA

*Non-Smoking Rates

#7 AmericoAmerico Logo icon

  • Plan Name: Ultra Protector I
  • Age Eligibility: 50 – 85
  • Death Benefit Size: $2,000 – $30,000
  • Health Questions: Yes
  • Waiting Period for Benefits:  No
  • States Covered: 47 states & DC (excluding MS, NY, & VT)
  • A.M. Best Company Rating: A (excellent)
  • Full Americo Review

This is a top company for applicants who use tobacco products. With the Ultra Protector, smokeless tobacco, cigars, and pipe smoking qualify for non-smoker rates. Most insurance providers label tobacco users all the same and assign smoking rates, but Americo allows for more flexibility.

Health Conditions Accepted

Arthritis | Blood Clot | Cigar Smokers | Crohn’s Disease | Depression | Diabetics | Diverticulitis | Fibromyalgia | Grave’s Disease | High Blood Pressure | High Cholesterol | Mild Asthma | Sleep Apnea

Quotes

Americo Ultra Protector I

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$35$30
55$40$34
60$47$38
65$60$47
70$78$58
75$108$81
80$156$120
85$214$182
90NANA

*Non-Smoking Rates

#8 GerberGerber logo

  • Plan Name: Guaranteed Acceptance
  • Age Eligibility:  50 – 80
  • Death Benefit Size: $5,000 – $25,000
  • Health Questions: No
  • Waiting Period for Benefits:  2-years
  • States Covered: 49 states & DC (excluding MT)
  • A.M. Best Company Rating: A (excellent)
  • Full Gerber Review

This plan from Gerber provides very straightforward coverage to all that apply, guaranteed. Essentially all that seniors need for coverage to be issued is to be willing and have the money to pay for premiums. There are no health restrictions since acceptance is guaranteed.

Gerber offers six other types of coverage, from infant to college to adult, this company has offerings for every age range.

Health Conditions Accepted

AIDS | Aneurysm | Angina | Angioplasty | Cancer | Cardiomyopathy | Circulatory Surgery | Cirrhosis | Congestive Heart Failure Defibrillator Implant | Dementia or Alzheimer’s | Diabetic Complications | Dialysis | Heart Attack | Heart Surgery | Hepatitis | HIV | Home Health Care | Kidney Disease | Lung Disease (COPD) | Lupus | Mental Health | Multiple Sclerosis (MS) | Obesity | Oxygen | Pacemaker | Stent | Stroke & TIA | Tumor | Type 1 Diabetes | Wheelchair Confinement

Quotes

Gerber Guaranteed Acceptance

$10,000 of Coverage

Monthly Premiums

AgeMaleFemale
50$44$34
55$58$44
60$64$51
65$85$63
70$99$76
75$139$108
80$247$176
85NANA
90NANA

#9 Guarantee Trust LifeBlack and white GTL logo

  • Plan Name: The Heritage Plan
  • Age Eligibility: 40 – 90
  • Death Benefit Size: $2,500 – $25,000
  • Health Questions: Yes
  • Waiting Period for Benefits: 2-years
  • States Covered: 48 states & DC (excluding CA & NY)
  • A.M. Best Company Rating: A- (excellent)
  • Full Guarantee Trust Life Review

This family-owned business fills a much-needed space in the Burial Insurance market. Consider this Graded policy one step up from Guaranteed Issue. There are several health concerns that, prior to this plan hitting the market, were only accepted with Guaranteed Issue coverage.

This company is also one of the only ones that accept new applicants up until the age of 90!

Health Conditions Accepted

Amputation from Diabetes | Angina | Asthma | Cardiomyopathy | Chronic Bronchitis | Circulatory Surgery | Cirrhosis | Congestive Heart Failure | COPD | Diabetic Coma | Dialysis | Emphysema | Heart Attack | Heart Surgery | Hepatitis | Insulin Shock | Kidney Disease | Lupus | Multiple Sclerosis (MS) | Nephropathy | Neuropathy | Pacemaker | Parkinson’s Disease | Retinopathy | Schizophrenia | Sickle Cell Anemia | Stroke | TIA | Wheelchair Use

Quotes

GTL The Heritage Plan

$10,000 of Coverage

Monthly Premiums

AgeMaleFemale
50$51$36
55$55$42
60$67$51
65$80$60
70$12$73
75$139$102
80$232$165
85$301$191
90$386$301

#10 CVS/AetnaAetna CVS Logo

  • Plan Name: Accendo Level
  • Age Eligibility: 40 – 89
  • Death Benefit Size: $2,000 – $50,000 (depending on age)
  • Health Questions: Yes
  • Waiting Period for Benefits: No
  • States Covered: 39 states & DC (excluding CA, CT, DE, FL, MA, MI, NY, ND, PA, SD, WA)
  • A.M. Best Company Rating: A (excellent)
  • Full CVS/Aetna Review

CVS Health acquired Aetna, a company that is better known in the health insurance arena, in 2018. Though it is not as commonly known for life insurance, its plans to cover burial expenses are outstanding.

There are two options for Accendo Level, Preferred and Standard. Preferred is less expensive but less accepting of certain health conditions. Standard is a bit more expensive with slightly higher rates. We recommend Preferred if you are able to qualify.

Health Conditions Accepted

A-Fib | Angioplasty | Asthma | Bipolar | Cirrhosis | Crohn’s Disease | Depression | Diabetes | Diverticulitis | Epilepsy | Fibromyalgia | Grave’s Disease | High Cholesterol | Hypertension (High Blood Pressure) | Lupus | Obesity | Sarcoidosis | Schizophrenia | Scleroderma | Seizures | Sleep Apnea | Type 1 Diabetes

Quotes

Aetna Accendo Level Preferred

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$34$27
55$44$34
60$51$41
65$58$48
70$73$58
75$101$76
80$140$101
85$196$137
90NANA

*Non-Smoking Rates

#11 Liberty BankersLiberty Bankers Logo

  • Plan Name: SIMPL
  • Age Eligibility: 18 – 80
  • Death Benefit Size: $3,000 – $30,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 43 states & DC (excluding AK, CT, MA, MN, NH, NY, RI, VT)
  • A.M. Best Company Rating:  B++ (good)
  • Full Liberty Bankers Review

Liberty Bankers is consistently one of the top-rated by many insurance professionals due to its low cost and easy acceptance.

Similar to other companies, there are Preferred and Standard rates within the SIMPL plan. Preferred has tighter qualifying standards and is thus less expensive than the Standard plan. Both options come with the same features.

Health Conditions Accepted

Angioplasty | Arthritis | Asthma | Bipolar | Blood Clot | Controlled Diabetes | Controlled Hypertension | Crohn’s Disease | Depression | Diverticulitis | Fibromyalgia | Grave’s Disease | High Cholesterol | Sarcoidosis | Scleroderma

Quotes

Liberty Bankers SIMPL Preferred

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$37$31
55$47$37
60$59$44
65$81$57
70$107$75
75$147$102
80$214$146
85NANA
90NANA

*Non-Smoking Rates

#12 Sentinel Security LifeSentinel Security Life logo black and white

  • Plan Name: New Vantage I
  • Age Eligibility: 0 – 85
  • Death Benefit Size: $1,000 – $35,000 (depending on age)
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 35 states & DC (excluding CT, ME, MA, MI, MO, MT, NH, NJ, NY, TN, VT, VA, WA, WV, WI)
  • A.M. Best Company Rating: B++ (good)
  • Full Sentinel Security Life Review 

Sentinel Security Life has three plans to cover burial expenses, New Vantage I, New Vantage II, and New Vantage III.

New Vantage I is the premier product offered by this company. With immediate coverage upon medically qualifying and competitively low prices, it is a fantastic option.

The other two plans are fine but they both have a waiting period before full coverage is available.

For those that smoke an occasional cigar or pipe, you will qualify for non-smoking rates. Most insurance companies consider anyone who smokes a cigar or pipe on occasion as a full-blown smoker.

Health Conditions Accepted

Arthritis (excluding rheumatoid) | Bipolar | Blood Clot | Cigar & Pipe Smokers | Crohn’s Disease | Diverticulitis | Epilepsy | Fibromyalgia | Grave’s Disease | High Blood Pressure | High Cholesterol | Oxygen | Sarcoidosis | Scleroderma | Seizures | Sleep Apnea

Quotes

Sentinel Security Life New Vantage I

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$28$23
55$34$27
60$42$34
65$54$42
70$70$53
75$97$76
80$147$108
85$203$161
90NANA

*Non-Smoking Rates

#13 Great WesternGreat western blue logo

  • Plan Name: Assurance Plus
  • Age Eligibility: 40 – 80
  • Death Benefit Size: $1,000 – $40,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 41 states (excluding AK, CT, DE, HI, ME, NY, RI, VT)
  • A.M. Best Company Rating: A- (excellent)
  • Full Great Western Review

Great Western Insurance Company (GWIC) has two great plans. One is Guaranteed Assurance which is Guaranteed Issue coverage, the second is Assurance Plus which has a few health questions in order to qualify.

The interesting thing about these two plans is that the monthly premiums are exactly the same. The thing that sets these two apart is that with Assurance Plus there is no waiting period and the beneficiary will receive 125% of the death benefit upon the insured’s death.

Neither plan has rates for smoking or non-smoking, all tobacco/nicotine users are created equal by GWIC.

Health Conditions Accepted

Angina | Arthritis | Asthma | Bipolar | Blood Clot | Cardiomyopathy | Circulatory Surgery | Crohn’s Disease | Cystic Fibrosis | Depression | Diverticulitis | Epilepsy | Fibromyalgia | Grave’s Disease | High Cholesterol | Hypertension | Irregular Heart Rythem | Lupus | Obesity | Sarcoidosis | Scleroderma | Sickle Cell Anemia | TIA | Wheelchair Use

Quotes

^The coverage is listed as $10,000 but in reality, with Assurance Plus the beneficiary will receive $12,500.

GWIC Assurance Plus

^$10,000 of Coverage

Monthly Premiums

AgeMaleFemale
50$59$49
55$64$56
60$75$66
65$92$80
70$119$102
75$158$138
80$227$190
85NANA
90NANA

#14 American AmicableAmerican Amicable Logo

  • Plan Name: Golden Solution Immediate Death Benefit
  • Age Eligibility: 50 – 85
  • Death Benefit Size: $2,500 – $35,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 41 states & DC (excluding IA, MA, MI, MT, NH, NJ, NY, RI, VT)
  • A.M. Best Company Rating: A (excellent)
  • Full American Amicable Review

This company offers 3 plans with the Immediate Death Benefit being the top tier Golden Solution. You must medically qualify to gain this coverage. This plan is usually a couple of dollars more per month than some of its competitors, so if the price is your biggest buying decision you might want to consider an alternative.

The other two policies are more lenient and have a 2-year waiting period before full coverage kicks in.

Health Conditions Accepted

A-Fib Arthritis Asthma Crohn’s Disease | Cystic Fibrosis | Epilepsy | Fibromyalgia | Mental Health | Nephropathy | Neuropathy | Retinopathy | Sarcoidosis | Scleroderma | Sickle Cell Anemia | Wheelchair

Quotes

Golden Solution Immediate Death Benefit

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$31$26
55$39$33
60$46$37
65$58$46
70$77$59
75$105$79
80$151$110
85$215$161
90NANA

*Non-Smoking Rates

#15 CignaCigna Logo

  • Plan Name: Level Benefit Plan
  • Age Eligibility: 50 – 85
  • Death Benefit Size:  $2,000 – $25,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 45 states (excluding CA, DE, FL, MT, NY)
  • A.M. Best Company Rating: A (excellent)
  • Full Cigna Review

While Cigna is a household name for health insurance, that is not the case with its supplemental coverage for burial. Regardless, they do have a great plan option for small whole life insurance.

This policy does have a unique feature that deserves a mention. A spousal premium discount of 5% can be awarded if both parties apply and qualify for coverage at the same time. This isn’t going to necessarily be a huge saving so it is best to work with an agent that will let you know if there are other, better, options available.

Health Conditions Accepted

Amputation from Diabetes | Asthma | Blood Clot | Crohn’s Disease | Cystic Fibrosis | Diabetes | Epilepsy | Fibromyalgia | Hypertension | Lupus | Mental Health | Sarcoidosis | Scleroderma | Sickle Cell Anemia | Wheelchair Confinement

Quotes

Cigna Level Benefit Plan

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$30$21
55$37$27
60$46$34
65$58$44
70$75$58
75$100$77
80$132$103
85$180$139
90NANA

*Non-Smoking Rates

#16 United Home LifeUnited Home Life logo

  • Plan Name: Express Issue Premier
  • Age Eligibility: 20 – 80
  • Death Benefit Size: $5,000 – $100,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 48 states & DC (excluding MT, NY)
  • A.M. Best Company Rating: A- (excellent)
  • Full United Home Life Review 

Unlike many of the other companies on this list, United Home Life focuses exclusively on life insurance. For burial coverage, they offer 4 different plans, Express Issue Premier (level), Express Issue Deluxe (level), Express Issue Whole Life (modified), and Guaranteed Issue.

Express Issue Premier has the strictest underwriting but the lowest monthly premiums. If you are able to qualify, this is a fine option with competitive pricing.

Health Conditions Accepted

Amputation from Diabetes | Aneurysm | Angina | Cardiomyopathy | Chronic Bronchitis | Cirrhosis | Controlled Epilepsy | Diabetic Coma | Insulin Shock | Mild Asthma | Multiple Sclerosis (MS)| Non-Insulin-Dependent Diabetics Parkinson’s Disease | Retinopathy | Receiving Disability | Transient Ischemic Attack (TIA)

Quotes

Express Issue Premier

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$34$29
55$42$33
60$50$40
65$63$47
70$82$57
75$115$79
80$158$120
85NANA
90NANA

*Non-Smoking Rates

#17 Bankers FidelityBankers Fidelity logo

  • Plan Name: Level Benefit Plan
  • Age Eligibility: 45 – 85
  • Death Benefit Size: $3,000 – $35,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • States Covered: 41 states (excluding CA, CT, DE, FL, KS, NY, ND, SD, VT)
  • A.M. Best Company Rating: A (excellent)
  • Full Bankers Fidelity Review

Within the Level Benefit Plan are Preferred and Standard rates which are similar to other companies. This allows for more leniency in the underwriting with Standard and slightly higher prices. So, if you are able to qualify for the Preferred option, there is no reason why you wouldn’t move forward with this less expensive plan.

Health Conditions Accepted

Arthritis | Blood Clot | Cigar Smokers | Crohn’s Disease | Depression | Diabetics | Diverticulitis | Fibromyalgia | Grave’s Disease | High Blood Pressure | High Cholesterol | Mild Asthma | Sleep Apnea

Quotes

Level Benefit Plan Preferred

$10,000 of Coverage

*Monthly Premiums

AgeMaleFemale
50$35$29
55$40$35
60$49$43
65$60$56
70$83$74
75$110$100
80$156$133
85$223$183
90NANA

*Non-Smoking Rates

Companies to avoid

6 Companies To Avoid

AARPAARP & New York Life Insurance Logo

  • Plan Name: Level Benefit Term
  • Age Eligibility: 50 – 74
  • Death Benefit Size: $10,000 – $100,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • State Availability: All 50
  • A.M. Best Company Rating: A+ (superior)
  • Full AARP Review

This plan is available through New York Life but is heavily promoted by AARP because of their partnership. You must be an AARP member to receive access to this plan.

Beware when considering this plan as it terminates upon your 80th birthday. This policy also increases in price every 5 years, so the low price that you were paying initially gets hiked up throughout the years.

Colonial PennColonial Penn Logo

  • Plan Name: Guaranteed Acceptance
  • Age Eligibility: 50 – 85
  • Death Benefit Size: $418 – $24,996 (depending on age)
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • State Availability: 49 states (excluding NY)
  • A.M. Best Company Rating: A- (excellent)
  • Full Colonial Penn Review

With this flagship product from Colonial Penn, you are guaranteed to be approved.

The plan structure is somewhat confusing when comparing this policy to its competition. Rather than basing your monthly payment off of the amount of coverage you get (most companies do this), Colonial Penn keeps the price the same but adjusts the amount of coverage the beneficiary will receive. So, the maximum coverage available is extremely dependent on age at the time of policy issuance.

Globe Life

Globe Life Logo

  • Plan Name: Term Life for Adults
  • Age Eligibility: 18 – 79
  • Death Benefit Size: $5,000 – $100,000
  • Health Questions:  Yes
  • Waiting Period for Benefits: None
  • State Availability: All 50
  • A.M. Best Company Rating: A+ (superior)
  • Full Globe Life Review

You may have heard of the “$1 for $100,000 of coverage” plan from Globe Life. This is how it advertises its term plan to draw people in. In reality, the first month will cost $1 but after that, every payment will be much higher.

Seniors must medically qualify and be accepted to receive this coverage. Since this is a term policy it expires upon turning 90 and it also has increasing premiums every five years if you choose to keep your coverage.

Just make sure you fully understand the details and read the fine print before moving forward with this enticing $1 plan.

Lincoln HeritageLincoln Heritage logo

  • Plan Name: Funeral Advantage
  • Age Eligibility: 40 – 85
  • Death Benefit Size: $0 – $20,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • State Availability: 49 states (excluding NY)
  • A.M. Best Company Rating: A- (excellent)
  • Full Lincoln Heritage Review

Lincoln Heritage only does burial insurance which is what they market heavily to set them apart from other options. However, the Funeral Advantage plan is more expensive than other, similar, options.

It also advertises that they help you plan and save money on your burial. What they really do is provide a checklist for the insured to complete that they then hand over to the beneficiary upon death. There are plenty of similar checklists that you can find online and save the money of this perceived value-added benefit.

This plan is overpriced by an average of $20 a month, depending on the age when it is taken out. I would recommend looking at other options for those interested in saving money.

John HancockJohn Hancock logo

  • Plan Name: Guaranteed Acceptance
  • Age Eligibility: 55 – 80
  • Death Benefit Size: $2,000 – $20,000
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • A.M. Best Company Rating: A+ (superior)
  • Full John Hancock Review

This plan that offers guaranteed acceptance has the strong financial backing of a company that is over 100 years old. John Hancock offers other good life insurance policies but their permanent plan to cover burial expenses is more costly than its competition.

In our full review, we compare it to AIG which has lower premiums and more included benefits than the John Hancock option. Since all guaranteed policies are essentially the same, PRICE is the main thing that you’ll want to look for. Several other companies beat John Hancock’s pricing.

State FarmState Farm Logo

  • Plan Name: Final Expense Whole Life
  • Age Eligibility: 50 – 80
  • Death Benefit Size: $10,000 only
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • State Availability: 47 states (excluding MA, NY, WI)
  • A.M. Best Company Rating: 
  • Full State Farm Review

There is no doubt about it, State Farm has a large presence in the insurance market. But the truth about its burial insurance coverage is that there are much better options on the market.

The coverage amount is not flexible, $10,000 is the only option. The prices are more expensive than what other companies offer, in fact, the only time this State Farm plan beats its competition is if you are a male who uses tobacco between the ages of 76 – 80.

FAQ blocks

Frequently Asked Questions

What Does a Waiting Period Mean?

A waiting period is enacted for plans that cover people who the insurance provider deems to be high-risk. There are many plans with no waiting period but applicants have to qualify based upon their health history.

These waiting periods typically last 2-years with either partial coverage during this time or a return of premiums plus interest. So either way, it is a no-lose situation for the insured.

What is Guaranteed Issue Burial Insurance?

Plans that are considered Guaranteed Issue accept anyone who wants the coverage. These plans ask no medical questions and come with at least a 2-year waiting period.

Guaranteed Issue plans are heavily advertised and promote acceptance for all, but what they do not tell you is that most people can qualify for a better plan with no waiting period and lower rates.

During the waiting time if the insured passes away the beneficiary will receive the paid premiums plus interest which is usually 10%. After the conclusion of the waiting period, the beneficiary is entitled to the full amount upon death.

What Determines the Best Burial Insurance Companies?

There is not a one-size-fits-all best burial insurance plan. Since everyone’s health, age, and coverage needs are different, the best policy for you could be very different than the next person.

It is important to take an individualistic approach to obtain the most optimized coverage.

There are 3 things that make a policy the right fit for an applicant.

  1. Lowest Price
  2. Immediate Coverage (whenever possible)
  3. Financially Stable Company

How do I Know What Burial Insurance I Qualify for?

Your health is going to play the biggest role in determining which plan you qualify for. Relying on an agent that knows the ins and outs of many policies will allow them to prequalify you for the best burial insurance. Working with an independent agent will open the door to multiple options with just one phone call.

How Long Does the Application Take?

The application for coverage takes roughly 30 minutes. There will be some prequalifying questions that the insurance agent will ask prior to beginning the application, this will help them determine the best plan for you before moving forward with any particular company.

Applications for guaranteed acceptance policies will take less time, roughly 15 minutes, as there is less personal information that is required.

Can I Relocate with Coverage?

Yes, one of the great advantages of this coverage is that it moves with you if you relocate. Some financial options for pre-planning burial expenses lock you into one particular location, that is not the case with this whole life coverage selection.

Why Should I Work with Willamette Life?

Willamette Life is an independent agency that specializes in assisting people interested in burial insurance to find the best policy to fit their needs. We represent many insurance providers meaning that we are not tied to one single company. This allows us the opportunity to search through a wider database of plans to assist in finding the best burial insurance for our clients.

Final Thoughts chalk board

Final Thoughts

a. When looking into the best burial insurance companies it is essential to understand that the company that is the best for you might not be the best for everybody else. This is because every insurance provider sets its own underwriting standards.

b. There are many great permanent benefits that come with this type of insurance coverage including coverage lock, price lock, cash value, and affordable monthly premiums.

c. Since there are clearly so many great policies to select from, working with an independent agent that specializes in this life insurance niche and represents multiple top burial insurance companies will save you time and money.

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