Our experts have researched 14 burial insurance plans and recommend 10 of the best options for seniors.
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Top 10 Highest Ranked Burial Insurance Plans in 2019
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
You can estimate the cost of your policy on Mutual of Omaha’s website. Input your age, gender, ZIP code and marital status. You must also enter the monthly benefit amount you want the policy to pay. If you’re married, indicate whether your partner is interested in coverage.
Suppose you are a single female and 55 years old. You live in the 98926 ZIP code (Washington state). Your premium estimates are as follows: $87 a month for a $1,500 monthly benefit down the road; $146 a month for a $2,500 benefit; and $204 a month for a $3,500 benefit.
Regardless of insurer, you pay less in total premiums the younger you are when you sign up.
If your aim is robust coverage, Mutual of Omaha’s many optional riders provide that at a fairly competitive price. Of course, this insurer sells a high number of policies with many standard and optional benefits. It can get overwhelming, so be sure you understand what you’re signing up for (and not signing up for). Remember to get quotes from other companies.
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.
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.
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.
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.
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.
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.
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.
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.
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