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Best Burial Insurance for Seniors in 2020

Our experts have researched 14 burial insurance plans and recommend 10 of the best options for seniors.

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Accolades Best Overall Best Customer Service Best Coverage
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Top 10 Highest Ranked Burial Insurance Plans in 2020

Burial insurance plans provide similar benefits that compare to benefits of traditional life insurance policies. There are also some differences between burial insurance and other types of life insurance plans. Seniors on fixed incomes potentially fear burdening loved ones with their final expenses. Seniors looking for affordable life insurance coverage likely discover that a burial insurance plan offers benefits that meet their specific needs, including budget-friendly premiums. There are many options for seniors looking for affordable burial insurance. A number of factors likely affects which company that seniors choose as the best fit for their needs. Reviewing the company information, along with detailed information about burial insurance offerings helps determine which policy best fits your needs. Read the fine print before signing any burial insurance paperwork. If you are not sure what something means, ask questions of the agent. Another option is choosing to ask a loved one to review websites with you and help you choose the best burial insurance coverage.
  • Foresters - Foresters offers affordable burial insurance plans for individuals ages 50 through 85 through its Plan Right Final Expense Plan.
  • Royal Neighbors - Eight women started Royal Neighbors of America in the late 1800s, and it remains a strong female-owned company today, offering affordable burial insurance, and other products.
  • AIG - American International Group (AIG) provides seniors with a burial insurance options with its Guaranteed Issue Life Insurance plan, featuring coverage for final expenses with no health questions or medical exam.
  • Transamerica - Serving customers for more than 100 years, Transamerica offers three burial plan options for seniors.
  • United Home Life - United Home Life believes in uncomplicated life insurance, including for seniors that purchase a Guaranteed Issue Final Expense Whole Life Insurance plan.
  • Gerber - Gerber offers the Guaranteed Acceptance Life Insurance plan for seniors that want burial insurance that covers their final expenses.
  • Mutual of Omaha - Mutual of Omaha offers burial insurance plans of up to $25,000 for seniors looking for life insurance that covers their final expenses.
  • Americo - Americo offers final expense coverage with no medical exams, backed by more than 100 years serving customers. State Farm
  • State Farm - State Farm began operations in 1922 and sells about 100 various products today, including Final Expense insurance policies.
  • Nationwide - Nationwide offers burial insurance coverage for final expenses with policy face values of up to $100,000.

How We Chose Our Top List

Looking for the best burial insurance plan that makes sense for you and your budget? Our top 10 list was created with you in mind. From Foresters to Nationwide — and everything in-between — our experts did the research and comparisons. We looked at company history, policyholder benefits, feature-set, member discounts, plans and pricing, and so much more. It’s never been easier to get end-of-life plans in order.

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  • 1. Foresters
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    Foresters has more than 130 years experience serving customers with its financial products and services. The company offers an affordable option for burial insurance through the Plan Right Whole Life Insurance. Individuals that are ages 50 through 85 have the opportunity to purchase this burial insurance that requires no medical exam.

    There are three available Plan Right Options. The Modified Plan provides a death benefit to the named beneficiary that includes a return of premiums, and 10 percent interest if the policyholder dies within the first two years. The policy provides 100 percent of the face value starting in the third year.

     

    Graded Plan benefits are 30 percent in year one, 70 percent face value during year two and 100 percent face value during year three and beyond.

     

    The Level Plan death benefit pays 100 percent of the face value of the policy.

    Pros
    • Company has long history in industry and strong financial strength
    • Provides lifetime coverage to age 121
    • Features guaranteed level and fixed premiums
    • Plan Right Policy includes a Common Carrier Accidental Death Rider, paying additional death benefit if policyholder’s death occurs while a fare-paying passenger on a plane, train, bus, or other common carrier
    Cons
    • Offers no pricing information on site, requiring seniors interested in Plan Right to contact company
    • Requires answering questions that determines which of the three plans is available to each applicant
    • Limited detailed information available on website, requiring that individuals call the company
    • Not all plans available in every state

    Pricing

    Face values of Plan Right policy options vary, as do premiums associated with face value of each policy.

    The site does not provide information about pricing of the Plan Right burial insurance policies, which range from $2000 to $35,000.

    The Bottom Line

    Foresters offers seniors the opportunity of planning right today, easing the burden tomorrow, with affordable burial insurance plans for seniors.

    The strong financial strength of the company and length of time serving customers are positive points when considering this company for burial insurance.

  • 2. Royal Neighbors
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    Royal Neighbors of America takes pride in its heritage as one of the first companies providing insurance products for women and children. Started in the late 1800s by eight women, the company offers a variety of products including the Simplified Issue Whole Life Plan for individuals 50 to 85 years of age.

    This plan offers a lower death benefit, primarily for providing for final expenses of the policyholder. Your Simplified Issue plan coverage never expires, and benefits never decrease. Policyholders pay a fixed premium for the life of the policy.

    Pros
    • Strong financial standing
    • A+ rating from Better Business Bureau (BBB)
    • More than 120 years serving customers
    • Features set premium payment schedule, and benefits that do not decrease
    • Offers potential for member discounts on dental, vision, retail and more
    Cons
    • Although company does not require medical exam, certain medical conditions disqualify applicant from acceptance
    • Confusing calculator and interactive site tools that are of little to no benefit
    • Does not provide price or exact policy face value information on website
    • Site boasts about its “Many resources” yet users often end up back at same page they started at when trying to navigate site for specific information

    Pricing

    Pricing varies on policies, which range from face value of $5,000 to $25,000, for Royal Neighbor of America members that purchase the Simplified Issue Whole Life Plan.

    The Bottom Line

    Royal Neighbors of America is a female-owned company dedicated to serving members and communities. It has strong financial strength and BBB ratings.

    The company provides little specific information on its website, leaving potential applicants with the need to call the company for burial insurance application and pricing information.

  • 3. AIG
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    AIG life insurance for seniors includes these categories:

    • Term life
    • Whole life
    • Universal life
    • Variable universal life
    • Quality of life

    Term life insurance from AIG is available with 18 term lengths:

    • 10 years
    • Any number of years from 15 to 30
    • 35 years

    All term life insurance from AIG is convertible to permanent coverage anytime during the term. Maximum coverage is $2 million.

    The basic term plan is called Select-a-Term life insurance. A more robust plan called Qol Flex Term adds the option for early payout in case of critical illness.

    As for whole life insurance, AIG guarantees $5,000 to $25,000 plans for applicants ages 50 to 85. Also for permanent coverage they have universal, variable universal and index universal plans.

    A caution about AIG is a high number of customer complaints, even for a large company. In 2017 AIG announced it would enhance customer service and update its software to improve satisfaction.

    Pros
    •  Variety
    • Term life convertible to whole-life
    • Guaranteed whole-life acceptance to age 85
    • Accelerated death benefit
    • A+ credit rating
    Cons
    • Customer service

    Pricing

    Sample AIG life insurance rates are posted at the company website, but for 40-year-olds only. You can get a customized quote online or by calling AIG Direct.

    The Bottom Line

    AIG has a wide range of life insurance products for seniors worldwide. Up to age 85 they guarantee one version of whole-life coverage without an exam, though the maximum is just $25,000. Other AIG life insurance policies with health questions have $2 million limits. Customer service is reportedly improving.

  • 4. Transamerica
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing

    Overview

    Transamerica started as a small company operated by one owner with a reputation for helping immigrant farmers and local merchants. Today, the company touts itself as one of the world’s largest organizations. Transamerica helps individuals, including seniors, that need burial insurance.

    Transamerica offers three burial plans, or final expense life insurance. Seniors begin with reviewing the three available plans, including the Immediate Solution, 10-Pay Solution and the Easy Solution final expense plans.

    The Immediate Solution Plan, available to any individual up to the age of 85, provides coverage to 121 years of age. Purchase the 10 Pay Solution prior to age 85 and pay premiums monthly or annually, for a period of 10 years. The Easy Solution policy offers a death benefit of up to $25,000, is a graded policy, primarily for individuals that do not qualify for other coverage.

    The Transamerica Final Expense plans offer coverage that does not expire and offers fixed premiums.

    Pros
    • Offers three final expense plans
    • Face amounts start as low as $1,000 or $5000 in some areas
    • Benefits do not decrease
    • Premiums do not increase as you age
    • Allows seniors to pay premiums from their Social Security benefits Direct Express card
    Cons
    • All three final expense policies have varying qualifications
    • Answers to some health questions are potentially disqualifying factors
    • Final expense plans possibly seem confusing to some seniors, particularly considering varying qualifications and benefits between the plans
    • Requires speaking to an agent for a quote or other detailed information

    Pricing

    Transamerica does not provide any information regarding pricing of its three final expense plans on its website. A link directs site users to “Find an agent.”

    Pricing varies according to face value of the policy and which policy you choose as your final expense burial insurance plan.

    The Bottom Line

    Transamerica has a reputation as a well-known company with a long history of serving customers. Although the company offers three burial insurance plans, there is little or no information on the site about plan details or pricing.

    Seniors that consider Transamerica for a burial insurance plan need to contact an agent.

  • 5. United Home Life
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    Listed on its page with the Simplified Issue Whole Life Insurance, another burial plan option, the Guaranteed Issue Whole Life Insurance offers guaranteed coverage, regardless of health.  There are no medical exams, no health questions and no complicated forms when seniors apply for this plan. The company boasts that it believes in a simplified life insurance process.

    Seniors receive burial insurance coverage that pays benefits on the maturity date of the policy or upon the insured’s death prior to age 100. The company offers this plan to individuals at least 45 years of age through 75 years of age.

    If the insured dies within the first year of the policy, the company pays a benefit of the premiums paid plus six percent interest. If the insured passes away during the second year, the company pays a benefit of 100 percent of premiums plus 12 percent and in year three, the company pays 118 percent of the premiums paid in event of the death of the insured senior.

    Pros
    • No required medical exam or health-related questions
    • Company has strong financial standing
    • Offers premiums that do not increase
    • Benefits do not decrease
    Cons
    • Does not pay full face value of policy until after three years
    • No pricing information on site
    • Higher monthly premiums than some other insurance company burial plans
    • All other policies require answering health questions, limiting seniors to the Guaranteed Issue Whole Life plan

    Pricing

    There is no pricing information on the United Home Life website. Seniors considering this burial insurance contact the company to learn price information.

    Policies range from the minimum $5,000 to $10,000 maximum under this burial insurance plan.

    The Bottom Line

    United Home Life likely seems simplified because there are no health questions or medical exams required.

    There is limited information on the site, and the company lists this plan on the same page as another final expense plan that many seniors do not qualify for due to required health questions.

  • 6. Gerber
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    Gerber has a history of providing insurance to individuals and families of all ages. Gerber has more than $45 billion in life insurance policies currently in force, likely leading seniors to realize that many individuals and families trust the Gerber name. The company has an “A” rating from A.M. Best.

    The Guaranteed Acceptance Life Insurance plan from Gerber offers burial insurance that helps pay for final expenses. Seniors between 50 and 85 years of age receive guaranteed acceptance regardless of health.

    This burial plan features a variety of policy amounts, with premiums that never increase and benefits that do not decrease as you enter another age bracket. Seniors have the option of adding additional coverage, to the maximum allowed if the insured first choose a lower amount of coverage.

    Pros
    • Widely recognized name with strong financial standing
    • Guaranteed Acceptance Life Insurance policies build cash value
    • No required medical exams or health questions
    • Policy remains in effect as long as the insured pays premiums
    • No increase in premiums or decrease in coverage
    Cons
    • Maximum age to apply for this policy is 80 years of age
    • Graded death benefit limitation, with 110 percent of premiums paid to beneficiary if the insured dies within first two years
    • Some reviews indicate more than double interest on loans against policy
    • Customized online quote requires entering personal information

    Pricing

    Gerber offers no price information on its site for its burial insurance policy.

    Premium amounts range from $5,000 to $25,000, giving seniors a variety of burial insurance coverage options.

    The Bottom Line

    Gerber has a history of providing insurance for people of all ages, from infancy through senior years. The company offers affordable burial insurance for seniors seeking coverage for final expenses.

    Gerber offers the option of taking a loan on the cash value of your policy once your policy builds cash value.

  • 7. Mutual of Omaha
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing

    Mutual of Omaha is one of the leading companies in long-term care insurance. Its product is called Mutual Care Secure Solution. Mutual of Omaha’s policy offers many optional benefits, allowing seniors to truly customize to suit individual needs.

    Pros
    • Monthly maximum benefit amounts range from $1,500 to $10,000
    • Option to choose cash benefit over reimbursement
    • Standard benefits include facility care, respite care, hospice care, care coordination, home health care, alternate care, international benefit for up to 12 months, and waiver of premium (no need to pay premium while receiving long-term care services)
    • Optional benefits include return of premium, shared care, security benefit, inflation protection, and waiver of elimination period for home health care benefits
    • 15% savings for good health, 15% savings if you are married but your partner doesn’t buy a policy, and 30% savings if both you and your partner are issued under the same policy
    Cons
    • Policy does not cover doctor’s charges, transportation, personal expenses, lab charges, or prescriptions
    • 90, 180, or 365 calendar-day elimination periods unless you choose cash benefits or waiver of elimination period for home health care benefits
    • Benefits won’t be paid if you need care resulting from self-inflicted injuries

    Pricing

    Get a rough estimate cost of your policy on Mutual of Omaha’s website by sharing your age, gender, zip code, and marital status. If you are married, indicate whether your partner is also interested in coverage. Finally, be sure to input the monthly benefit amount you want the policy to cover. Keep in mind that regardless of insurer, you will pay less in total premiums the younger you are when you sign up.

    Bottom Line

    If you are looking for an insurance company that offers a plethora of standard and optional benefits, then Mutual of Omaha may provide the robust coverage you are seeking. On the other hand, having so many different options available to you can get overwhelming. Before committing, be sure to gain a clear understanding of what you are and aren’t signing up for, and get quotes from other companies as well.

  • 8. Americo
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    Americo has more than 100 years experience serving customers. Americo has an “A” rating with a stable outlook from AM Best.

    The company offers burial insurance plans that help cover final expenses. When seniors visit the website, there is an option that allows for learning details about The Americo Final Expense plan or the Ultra Protector Series of coverage, which offers three products for different situations.

    There are no medical exams, no rate increases, and no cancellations as long as you pay premiums.

    The graded death benefit pays limited benefits the first three years of the life of the policy, meaning that the beneficiary receives a benefit of paid premiums plus a small interest if the insured dies within the first three years of the policy.

    Some burial insurance plans provide coverage from day one of the policy. Seniors need to carefully examine and fully understand each policy before purchasing a policy.

    The company asks if the potential policy holder is a smoker, which potentially affects coverage. If you use smokeless tobacco, smoke a pipe or another substance that is not a cigarette, your answer to questions about smoking do not automatically disqualify you.

    Americo provides final expense plans for seniors through 85 years of age, and provides coverage for individuals in most states.

    Pros
    • Premiums never increase and benefits do not decrease
    • Offers optional riders for children term and grandchildren term
    • Long history of serving customers and has “A” rating
    • Offers coverage for individuals up to 85 years of age
    Cons
    • Difficult to find comprehensive information about burial insurance on website
    • Graded benefit with waiting period to receive full face value of policy
    • Website seems more geared to agents selling burial insurance rather than to seniors looking for an affordable plan that covers final expenses
    • No pricing information on site

    Pricing

    There is no pricing information on the Americo website. Policy face values range from $2,000 to $30,000 coverage. The cost depends on the face value of your policy, and your age when you purchase the policy.

    Your answers to some questions possibly affects which policy you qualify for and the price you pay for coverage.

    The Bottom Line

    Americo has a long history of serving individuals in need of insurance coverage.

    Although the company offers plans that cover final expenses, it is difficult to find detailed information on the website. Seniors that visit the site likely discover more information for agents than for seniors looking for burial insurance.

  • 9. State Farm
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    If you already have a relationship with a State Farm agent for other insurance policies, you may prefer to stay with this insurer. Fortunately, you can get Medigap quotes online even if you’re not a current customer. Select your state under the State Farm “Get a Health Quote” bar, and fill out the small form.

    The rates can be a bit pricey. For example, a 65-year-old nonsmoking female in ZIP code 24016 would pay $122.82 a month for Plan G. If you’re OK with paying your quoted rate and want more information, you fill out a contact form. A State Farm agent gets in touch with you shortly. You can also find an agent in your area and call that person to initiate the process.

    Pros
    • Agents can assist you in person, online and via phone
    • Your agent may get to know you well
    • Other insurance policies available such as life insurance, homeowners, small business, renters and vehicle
    • Six plans offered in many areas: A, D, N, G, C and F
    Cons
    • No prescription drug, vision or dental plans available
    • Medigap plan prices can be somewhat higher

    Pricing

    Ask your agent which pricing method the local office uses. In many areas, if not all, attained-age pricing is used. For example, a 65-year-old female in Virginia ZIP code pays $122.82 a month for Plan G while a 75-year-old pays $177.22 a month.

    The Bottom Line

    If you already have a State Farm agent you enjoy working with, then it could be a good idea to get your Medigap policy from this insurer. Do still get quotes from at least two other insurers to ensure you’re satisfied with the premium prices you’ll pay. State Farm Medigap rates tend to be a bit pricier than those from many other insurers, so you must decide whether having history and in-person support is worth it.

  • 10. Nationwide
    Ease of use Excellent
    Service & Response Excellent
    Features & Tech Excellent
    Pricing Excellent

    Overview

    Nationwide has a history of providing products and services to its customers for 85 years. The company offers a full range of insurance products, including coverage for final expense needs.

    The company has a history of helping communities, including providing more than 40,000 meals for America’s food banks and support for the American Red Cross. The community involvement likely appeals to seniors seeking burial insurance by giving them a sense that Nationwide cares about the communities and its policyholders.

    The company has $236 billion in assets, giving the company financial strength.

    Nationwide offers final expense insurance with policy face values ranging from $2,500 to $100,000 in coverage.

    There is no medical exam, likely an attractive feature for seniors with health issues.

    Receive your policy immediately or within 48 hours of purchase. There are optional riders that potentially provide some benefits on the exercise date of the policy.

    Pros
    • Company has strong financial standing
    • Provides burial insurance with face value up to $100,000
    • Long history of providing insurance policies, including history of 33 years providing final expense insurance
    • Believes in giving back to communities served by Nationwide products and services
    Cons
    • Limited information about policy on site
    • Portion of death benefits are possibly taxable
    • Receiving online quote requires entering personal information online, including height, weight, and smoker information

    Pricing

    Nationwide does not provide exact pricing information on its final expense policies, like most other companies that provide burial insurance for seniors. The face value of the policy and your age are factors that affect the price of your premiums.

    Contact an agent or visit the website for more pricing information.

    The Bottom Line

    Nationwide has a long history of providing insurance products, including nearly 35 years providing burial insurance coverage through its final expense insurance plans.

    The company does not provide detailed information about pricing on its site, like most other companies.

    Some seniors possibly consider the online quote questions too invasive, which requires entering personal information, including whether you smoke any tobacco products and details of your height and weight.

What is Burial Insurance?

Burial insurance is whole life insurance that typically has a smaller policy face value than other types of life insurance. Some companies that sell burial insurance have a maximum face value of $10,000, while others sell burial insurance policies with a maximum face value of $25,000 or more, depending on the company.

One similar aspect of burial insurance and other whole life policies is that they both offer policies for the life of the insured or until the insured reaches a maximum specified age. Whole life policies also have aspects that differ from other life insurance, particularly term life insurance.

Term life insurance lasts for a specific term. You renew your policy at the end of the designated term. If you are 50 years of age and purchase a term life policy with a designated five-year or ten-year term, when you renew the policy, you often pay more for the same insurance. Premiums often increase because you are in a different age bracket than when you initially purchased the policy.

Why Should Seniors Consider Burial Insurance?

Seniors that did not purchase life insurance when younger or that felt they did not have the money to pay regular premiums of high-cost life insurance in the past potentially consider burial insurance an ideal option.

Burial insurance policies often feature guaranteed acceptance, which means you never receive a denial based on your health. Some companies do not ask health-related questions while other companies ask questions, so consider this before purchasing a specific burial insurance policy.

Another outstanding aspect related to burial insurance is that your premiums likely do not increase as you age. If you are 60 years old today, you likely pay the same amount for your premium 20 years from today. The initial premium cost varies with age at the time you purchase burial insurance. The earlier you purchase your policy, the less you pay for premiums.

Seniors also likely appreciate that burial insurance provides a means of paying the cost of their final expenses. It is potentially a good feeling for seniors that know their loved ones will not face the burden of paying for a funeral and burial.

Where Can I Buy Burial Insurance?

Many insurance agencies sell burial policies for seniors, often at affordable rates, with no price increase on premiums, no decrease in coverage benefits and no cancellation as long as the insured makes timely premium payments.

These top 10 best burial insurance for seniors options provide excellent information for seniors considering purchasing burial insurance. When you understand the terms of burial insurance policies from the various insurance companies, you likely have confidence in making burial insurance decisions that best meets your nee