Burial Insurance By Age

Are you afraid age has made life insurance too costly for you to buy?

Like most life products, rates increase as you age, but this doesn’t mean that life insurance is out of reach.

Life companies have created products specifically designed for people ages 40-85.

These products go by many different names:

Burial Insurance, Final Expense Coverage, and the official-sounding Guaranteed Issued Life.

Regardless of your age, burial insurance is an affordable life insurance option that is designed to provide quick coverage for people with health conditions and quick coverage needs.

For those who are looking into purchasing a burial insurance policy, age plays a large role in the rates you receive, the policies available to you, and the policy add-ons available as well.

Find The Best Coverage For Your Age:

50-59 Year Olds60-69 Year Olds65-70 Year Olds70-79 Year OldsOver 80 Years Old

What Does Burial Insurance Cover?

Burial Insurance is Life Insurance designed for older adults with specific coverage needs and often limited budgets. Most burial policies are a form of permanent insurance like whole life.

Whole life, unlike term, is designed to cover your whole life and not expire after a set time limit.

Here are the key benefits most Burial Insurance policies will give you:

  • Seniors Wanted. Burial coverage is designed with ages 45-85 in mind.
  • Wide Range of Coverage. Burial insurance policies aren’t as large as traditional life policies. This makes the policies much more affordable. Coverage is available between $2,000-$50,000.
  • Level Premiums. Pricing will remain stable over the life of the policy. This is a key feature you need to ask for. Warning: Most reputable policies contain level benefits, but there are products on the market that will increase in price over time or even decrease in coverage.
  • Increasing Coverage. Based on your health or age, many policies will provide you full coverage at day one. Some people will have a graded benefit. Graded Benefit policies increase in coverage over time. The full coverage amount is not available on day 1, but it will increase each month until the full benefit is achieved after 2 years.
  • Accelerated Death Benefit Option. This feature is included in many policies. If not included, it is an affordable rider you can add. Here’s how you benefit. If you are diagnosed with a terminal illness, you can receive the benefit immediately. The funds previously reserved for your family upon your death will be available to cover costs associated with the illness.
  • No Medical Exam required. Most traditional life policies require an exam. If you have health issues, this could disqualify you from most policy. Burial policies avoid this so they can protect a wide range of individuals. Your health will not prevent you from having coverage. No pins or needles or doctor visits are required.
  • A Bank of Cash Value. Your premium will not only provide a death benefit but will grow in value over time. If emergencies arise, you can borrow against that cash. If the cash value grows large enough, many policies will allow you to use the cash to pay the premium.

Burial Insurance is an easy investment providing financial security for your family and loved ones.

Who Is Burial Insurance Best For?

Are you a candidate for Burial Insurance? There are a handful of factors to consider whether burial insurance coverage is best for you or not.

1.For People Who Are Older

You might assume life insurance is only for the young. Burial insurance is a perfect example of the benefits of life insurance regardless of your age.

The perfect candidate for burial insurance are people who are between the ages of 50-85, who fit the following criteria in this list.

Burial Insurance allows you to provide for funeral expenses without the need to buy a large, expensive life policy. Even if you are over 85, you can still find affordable burial insurance coverage.

2. For People With Health Issues 

Most of us don’t make it to 70 without some medical issues. Burial insurance considers this, and eliminates the need for medical exams. Coverage is structured for anyone no matter how severe your health may be.

If you’ve had cancer or other serious medical issues, finding affordable life insurance is difficult. But Burial Policies won’t deny you.

You can be diabetic, diagnosed with COPD, or suffered from a stroke, and still be eligible for burial insurance. Cancer survivors are ideal candidates. If you’ve been cancer free for more than 2 years, you qualify for simplified issue burial insurance, which can give you lower rates.

3.  For Caregivers Of Elderly Parents

If you currently care for the finances and health of an elderly parent. Whether you care for them in home or an assisted living facility, burial insurance can protect your finances from their funeral expenses.

Because of care giving costs, you or your parents may not have the funds necessary for final arrangements. Children may purchase policies on behalf of their parents and assign a funeral home as beneficiary.

4. Those Needing Affordable Life Insurance Coverage

One of the most shocking economic statistics over the 20 years is the rising cost of dying. Burial costs rose faster than healthcare and college.

Today the average funeral costs an average of $10,000. That number does not include medical and administrative costs experienced at the end of life. After other end of life costs, the cost could reach upwards of $20,000.

Unfortunately, a large percentage of Americans do not have $10,000 in a savings account or other liquid investment product.

A burial policy is an affordable way to protect your family from financial hardship or bankruptcy. Your death is devastating enough to your loved ones. You don’t want it to become a financial burden as well.

How Does Age Affect Burial Insurance Rates?

The below table shows some typical burial insurance rates for people who are in Standard health. Based on your health, burial insurance rates will change, though compared to traditional life insurance policies, burial insurance rates are affected far less by health.

Whereas, even for smokers and people with cancer, they may only pay 20-30% higher burial insurance rates than those without these conditions.

Age $5,000 Male (monthly) $5,000 Female (monthly) $10,000 Male (monthly) $10,000 Female (monthly) $25,000 Male (monthly) $25,000 Female (monthly)
45 $14 $13 $26 $23 $58 $52
50 $16 $14 $29 $26 $69 $58
55 $19 $17 $35 $29 $85 $67
60 $23 $18 $43 $34 $102 $80
65 $29 $23 $56 $42 $133 $100
70 $39 $29 $73 $55 $176 $129
75 $52 $39 $100 $73 $244 $176
80 $71 $54 $139 $100 $340 $255
85 $100 $72 $200 $142 $496 $351

How to Get the Best Burial Insurance Rates

1. Avoid increasing premium policies

Many of the burial insurance policies advertised on television have increasing premiums. Instead of being locked into a consistent monthly premium, the premiums will increase in 5 year increments.

Sometimes the coverage may decrease over time as well.  Make sure you ask plenty of questions about the way the premiums work over time. Also make sure the coverage will remain stable.

2. Shop between a wide variety of carriers

Rates and underwriting guidelines change constantly. Companies change their appetite for various segments of the population as well as types of insurance policies.

If you only get a quote from one or two companies, you may be missing out not only on more affordable rates, but better coverage. Rates and coverage are of prime importance, but it is important to understand the claims and customer service side of an insurance company as well.

This is one reason we have contracted with a wide variety of companies. It allows us to find the right product for every individual need. No two people have the same needs and budget, even though both may need insurance.

3. Know Your Budget

Even though the average funeral cost is around $7,000 – $10,000, each state and locality is different. Our agents can help you with your local costs. Contact your local funeral home.

Find out what the legal costs you might incur to process your will and add a little extra in for potential medical expenses such as ambulance costs. Also think about whether you want to gift something small to a family member in the event of your death.

Best Burial Insurance Companies

There is a wide diversity of rate structures and product offerings between companies for burial policies. Some companies specialize with customer who have health issues, and others have excellent rate for healthier older adults.

Because there are so many companies and rules, we’ve narrowed down the top 5 carriers, along with their financial ratings, burial insurance product, and benefits. While these are the top 5 burial insurance companies on our list, they may not always be the best option for people in specific situations.

As a result, we always recommend working with a professional in order to find the best burial insurance company for you.

Company A.M. Best Rating Customer Reviews
AIG A+ 4.2 / 5
Assurity A- 4.1 / 5
American National A+ 4.3 / 5
Fidelity  A- 4.1 / 5
Mutual of Omaha A+ 4.0 / 5


  • Guaranteed Issue Whole Life
  • Ages 50-85
  • 2 Year Graded Benefit Option
  • $5,000-$25,000 coverage available
  • Terminal Illness Options


  • Lifescape Simplified Whole Life
  • Ages 40-80
  • Level Benefits & 2 Yr Graded
  • Coverages from $5,000-$25,000

American National   

  • American National Strategy Whole Life
  • Ages 45-80
  • Cash Value Options
  • Coverages from $2,000-$50,000
  • Graded Benefits Available


  • Rapid Decision Senior Life
  • Ages 50-85
  • Graded Benefits up to Year 4
  • Coverages from $10,000 – $150,000

Mutual of Omaha      

  • Living Promise Whole Life
  • Ages 45-85
  • Level and Graded Benefits Available
  • Coverages from $2000 – $40,000

How to Find the Best Burial Insurance Policy for You

If you thought you were too old for affordable life insurance, we can help you. You’ve seen that age doesn’t matter when it comes to finding affordable burial insurance coverage. In fact, products have been designed just for your age.

We have contracted with the best insurance companies to provide you with the most coverage at the most affordable costs to you.

For more information on your burial insurance options, contact one of our agents who can walk you through the best burial insurance options on the market for you and your family.