Final Expense Insurance For Seniors Over 80: Best Tips

Final Expense Insurance For Seniors Over 80
Final Expense Insurance For Seniors Over 80: Best Tips

Once individuals reach their 80’s life should be fun. Spending time with grandchildren, enjoying a favorite hobby, or simply relaxing is a wonderful way to spend time. An item that may not always be at the forefront of a senior’s mind is the final expenses of life.

Funeral costs can range from $8,000 – $12,000, which is a major burden for family members and loved ones to unexpectedly take on.

Fortunately, there are options for seniors and their families to prepare for and to cover funeral expenses.

Final Expense Insurance For Seniors Over 80: Best Tips

The senior final expense program provides simple and affordable life insurance for elderly seniors. Specifically designed for people over 60, this insurance coverage comes with permanent benefits and low premiums.

Final expense is also referred to as burial insurance and funeral insurance, or a combination. All of these are a type of whole life insurance that is intended to cover funeral expenses.

What separates senior funeral expense coverage from a traditional whole life insurance policy are two important factors.

Simplified Issue: This means there is a simple and easy application process. Elderly seniors will need no medical exam. Instead, the applicant will be asked to answer a series of health questions over the phone from the comfort of their home. Seniors can expect this process to take roughly 30 minutes.

Lower Coverage Amounts: The coverage amounts typically range from $2,000 – $40,000. This allows the monthly premium to be much more affordable while still offering a whole life policy’s permanent benefits.

Senior Final Expense Insurance Benefits

Every whole life insurance policy comes with three fundamental advantages.white and green lock inside shield

Price Lock: The price will never increase. This is a top priority for many seniors over 80 who are on a fixed income. Understanding the monthly price and knowing that it will never change is a wonderful benefit for senior citizens with this insurance coverage.

Coverage Lock: The policy amount will never decrease or terminate. The locked-in death benefit guarantees financial protection for your family, so you will not leave them in a vulnerable situation after your passing.

Builds Cash Value: For each payment made, a portion will go towards the cash value. Over time this amount will grow and can be borrowed against if needed.

Can You Get Life Insurance If You Are 80 Years Old?

Elderly seniors over 80 are the perfect candidates for final expense life insurance. Because your life insurance coverage needs are likely smaller than someone who is younger, smaller policy terms could provide the ideal protection.

What is the Best Burial Life Insurance Over 80?

Several life insurance companies provide this protection to healthy seniors up to 85 years old. However, carriers are limited when looking for final expense insurance for seniors over 85.

The best way to find coverage over 85 is by working with an agent who has access to many policies. Just because the selection is limited does not mean that the elderly cannot still get insurance coverage.

How Can the Death Benefit be Used?

There are no financial regulations on what final expense insurance can cover. However, it is commonly used to cover the funeral expenses of the insured. Listed below are the typical final expenses that beneficiaries use the funds for.

  • Burial/Cremation
  • Legal Expenses
  • Medical Bills
  • Charity Donations
  • Credit Cards
  • Remaining Balance on a Mortgage
  • Post-Mortem Expenses
  • Remaining Car Loan Balances
  • Other End-of-Life Expenses

What Does It Cost?

The chart below shows a range of funeral insurance quotes that a senior over 80 years old can expect to pay. To get personalized final expense quotes for any age, enter your information into the quote machine on this page.

The healthier the person applying is, the lower the monthly premium will be. By contrast, the more pre-existing medical concerns someone has, the higher their quotes will be.


*Monthly Premiums

80$98 – $165$146 – $245$194 – $326
81$106 – $173$158 – $258$209 – $342
82$114 – $177$169 – $264$225 – $351
83$121 – $181$180 – $270$239 – $359
84$129 – $186$191 – $278$254 – $369
85$136 – $191$202 – $284$269 – $377
86$171 – $207$255 – $309$339 – $411
87$206 – $224$307 – $334$408 – $444
88$241 – $250$359 – $373$478 – $496


*Monthly Premiums

80$140 – $232$208 – $346$276 – $461
81$150 – $246$223 – $366$297 – $487
82$160 – $269$239 – $379$317 – $504
83$171 – $271$255 – $404$339 – $537
84$182 – $284$271 – $424$361 – $564
85$193 – $301$288 – $449$382 – $597
86$236 – $318$353 – $475$469 – $632
87$277 – $335$413 – $500$550 – $666
88$317 – $352$474 – $526$631 – $701

*These are non-smoking rates. Most insurance companies classify non-smoking as not using any form of nicotine or tobacco in the last 12 months. 

Price: How is it Calculated?

Four key factors will dictate the price all senior citizens will pay.

Health: Your health will be the biggest factor when determining the expense. The more medical issues a person has had, the higher risk it is for the life insurance company to cover. With higher risk comes higher burial insurance quotes.

Age: When elderly seniors take out funeral insurance plans, the price will never change. However, the longer they wait, the higher the monthly price will be.

Gender: Males will pay more for coverage than females. On average, women live four years longer in the United States than men do, so senior men over age 80 are at a higher risk to provide funeral expense coverage.

Policy Amount: The more coverage that is taken out, the higher the monthly cost will be.

elderly senior woman sitting in high-back chair

Burial Insurance With No Waiting Period For Elderly Seniors Over 80

There are four plan types, and each has different qualifying standards, known as underwriting. Every life insurance company sets its own health and age criteria. Some carriers do not provide burial insurance over age 80, but some offer up to 89 and 90 years old.

Depending on which plan someone qualifies for, the policy structure and price point will differ.

Plan Tiers

Level: This is a plan that is reserved for the healthiest of applicants. The level plan from all burial companies is going to have the strictest underwriting standards. With these high standards comes lower prices and immediate coverage.

Graded: Offering more lenient underwriting, this plan will come with a two-year waiting period and mid-point premiums. The waiting period is favorable, with partial coverage immediately and an increased death benefit in the second year. Upon completion of the waiting period, full coverage can be awarded to the beneficiary after death.

Modified: The modified plan has an average waiting period payout structure and high premiums. You may be better off using a highly rated guaranteed issue product if this is the only plan you can qualify for. The waiting period is typically 2-years with a return of paid premium plus 10% if the insured passes during this time.

Guaranteed Issue: Asking no medical questions, this plan is designed for those with chronic or terminal conditions. Also, this plan can be a good option for those who do not want to answer medical questions. However, it is recommended to answer the application’s health questions in an attempt to qualify for a better plan structure and lower premiums.

FAQ bubble

Frequently Asked Questions

This is a list of the most common questions asked about final expense insurance for seniors over 80.

What is the Cost of a Traditional Service?

The average price for a traditional burial service with viewing is $7,643 or $6,280 for cremation. There are many decisions made throughout the process that will dictate the price.

Not included in these price estimates:

  • Cost of Headstone, Monument, or Marker
  • Cemetery Property, Plot of Land, Columbarium, etc.

As mentioned earlier, there are typically several outstanding bills that will need to be covered as well, which contributes to the higher general estimation of $8,000 – $12,000.

Can I Purchase Final Expense Coverage for a Parent or Grandparent?

You can, but there are steps that you and the insurance broker need to take to make the policy valid.

The proposed insured senior will need to be involved in the application process. This includes signing their name and having the mental capacity to understand what they are agreeing to.

Insurance coverage cannot be taken out on someone without their knowledge and consent.

Does Social Security Give a Death Benefit?

Upon qualification, Social Security will provide up to a $255 survivor death benefit. Unfortunately, this will not fully cover the final expenses of a senior citizen. Families should not rely on this to cover the inevitable funeral expenses left behind.

Are There Insurance Plans I Should Avoid?

Plans to avoid are pretty easy to spot. If it seems like coverage is too easy to obtain, then you should steer clear. This includes direct promotional materials that come to your mailbox or TV commercials advertising final expense life insurance for seniors over 80 with no medical exam or questions.

Do not buy any random products that come through your mail, like Colonial Penn or AARP life insurance. Many other options will be more friendly on your wallet and a better policy structure for you and your family.

What Plan Can I Qualify For?

The first step to better understand your best burial coverage options is by working with an insurance broker with access to multiple providers for elderly seniors over 80. This will ensure you find funeral insurance quotes that are the most optimized for your specific situation.

Willamette Life specializes in final expense life insurance. We find the best plans for seniors of all ages to protect their families. 

Call us at 844-576-0019

Person thinking

Final Thoughts

a. Final expense insurance for seniors over 80 is an affordable and simple plan to prepare for funeral expenses left behind by the elderly. For a low monthly payment, families will have the financial resources needed to celebrate the deceased’s life.

b. Getting life insurance over 80 is possible! There are burial plans available with waiting periods and no waiting periods. What someone can qualify for depends on the age and the medical history of the applicant.

c. Work with an insurance broker with access to multiple burial companies, this will nearly guarantee that families find the best burial insurance plans for the lowest price.

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