Best Burial Insurance For Seniors In 2021

 By Aten-Re El Published:

With average funeral costs in America ranging between $7,000 and $12,000, it’s important to plan how your final expenses will be covered.

One way you can plan for those expenses is to purchase a burial insurance plan.

Sometimes called final expense insurance or funeral insurance, these policies will provide your beneficiaries with the funds to pay for the cost of your arrangements and any debts you may leave behind.

But with so many choices available, how do you know where to start?

Our #1 Pick

mutual of omaha logo

Mutual Of Omaha is our #1 pick overall for the best burial insurance for seniors. Their application is super fast, their site is easy to navigate, and they have some of the lowest rates.

In this guide, we’ve featured five of the best burial insurance companies for seniors in 2020 to help you narrow down the field.

You’ll also find a detailed buyer’s guide to help you understand some of the more complex details of insurance.

Let’s get started. 

burial insurance for seniors

Find Out Who Made Our List of Best Burial Insurance Companies For Seniors.

Plus More Details On Each Company, Why You Need Burial Insurance, What Does It Cover, And How To Apply For Coverage.

1. Mutual of Omaha

Best Overall


mutual of omaha logo

Mutual of Omaha gets our #1 pick for burial insurance in 2020.

Founded in 1909, Mutual of Omaha has an excellent track record and is well-known for providing outstanding customer service. 

The simple application process is easy to navigate, and you won’t need a health exam to be accepted.

Here are a few other reasons why Mutual of Omaha is our best overall pick:

  • $2,000 to $40,000 benefit amounts available
  • Guaranteed premiums
  • Policy never expires
  • Cash value available
  • You can name multiple beneficiaries

You’ll also find that Mutual of Omaha accepts a range of pre-existing conditions, such as type 2 diabetes, Crohn’s Disease, high blood pressure, and squamous cell skin cancer.

These factors, combined with their lower than average premiums, make Mutual of Omaha our best overall pick. 

2. Royal Neighbors

Best for Liberal Underwriting


royal neighbors logo

While not the most recognizable name on the list, Royal Neighbors has been in business since 1895.

Their Simplified Issue Whole Life Policy earns a place on our list for its liberal underwriting policies, particularly for applicants with pre-existing conditions like diabetes. 

A few other highlights of Royal Neighbors include:

  • Coverage never expires
  • Option for immediate coverage
  • Guaranteed premiums

As another bonus, Royal Neighbors offers policyholders benefits like dental discounts, vision discounts, prescription drug savings, and retail benefits at no extra charge.

These are uncommon features of burial insurance for seniors over 70. 

3. American Amicable

Best for Pre-Existing Conditions


american amicable logo

Pre-existing conditions are the #1 reason why applicants are denied a burial insurance policy or forced to pay high premiums.

But American Amicable accepts pre-existing conditions like tobacco use, bi-polar disorder, schizophrenia, and depression while keeping premiums comparatively low.

Other benefits of a policy with American Amicable include:

  • Guaranteed premiums
  • No health exam required
  • Simple application process
  • Coverage never expires

American Amicable also offers several optional riders that greatly enhance your policy.

These include options for accidental death benefits as well as a nursing home waiver.

4. Americo 

Best for High-Risk Conditions


americo logo

If you have high-risk health conditions such as COPD, Americo is one of the few companies with a policy that will offer you coverage from the day your policy starts.

The company will also accept other high-risk conditions, such as heart attacks, strokes, and seizures.

A few other benefits of choosing a policy with Americo include:

  • Guaranteed premiums
  • Policy never expires
  • Quick approval time
  • No medical exam required

Americo is also notable for offering tobacco users lower premiums comparable to those of non-smokers.

5. AIG

Best for Guaranteed Issue Policies


aig logo

If you’re in search of a guaranteed issue policy, AIG may be your best option.

Their simple application process doesn’t require any medical examinations, and the company does not ask any questions about your health history.

While most guaranteed issue policies come with high premiums, AIG offers much more competitive rates.

They are also one of only a few companies offering burial insurance for seniors over 80.

Other benefits of a policy from AIG include:

  • Guaranteed premiums
  • Policy never expires
  • Can borrow against the cash value
  • Fast approval time

What Is Burial Insurance for Seniors?

Burial insurance for seniors is a form of life insurance intended to cover the cost of your final expenses.

A burial insurance policy will help ease the financial burden your loved ones may face after you're gone.

These policies are typically smaller than whole life and term life insurance policies but are much easier to qualify for with no medical exams required. 


Burial Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

How Much Does Final Expenses Insurance for Seniors Cost?

The average monthly premium for burial insurance is around $50. Your premium cost will depend on factors that include:

  • Age
  • Gender
  • Location
  • Overall Health
  • Height & Weight
  • Smoker or non-smoker
  • Pre-existing conditions

Of course, the policy and amount you select and the provider you choose to work with will also play parts in determining your price. 


Life insurance by state.

How to Get Final Expense Insurance With No Waiting Period

Many companies offer burial insurance for seniors over 60 with no waiting period.

No waiting period simply means that your beneficiary can receive the full benefit amount as soon as the policy is in place.

Policies with no waiting period almost always require you to submit to a health exam before you’re approved.

A medical exam allows the insurance company to assess your risk level.

If you don’t have any serious health conditions such as cancer or HIV/AIDS and pass the medical exam, your approval for a policy with no waiting period is more likely.

If you don’t qualify for a policy with no waiting period outright, you still may be able to pay a higher premium to get that waiting period reduced. 

Types of Burial & Funeral Insurance Coverage

You’ll find that insurance companies offer two different types of policies: standard and pre-need. 


Standard policies provide beneficiaries with a monetary benefit after the policyholder passes away.

The money provides for the policyholder’s final expenses, such as the cost of the funeral, and can also pay debts, such as credit cards, loans, mortgages, and car payments.


Pre-need policies allow you to pre-plan for your final arrangements. The benefit from these policies goes right to the funeral home that will be handling your funeral instead of a beneficiary.

best burial insurance for seniors

Pros & Cons Of Burial Insurance

It’s important to weigh the pros and cons of a burial insurance policy before you commit to purchasing.

While the policy coverage varies by company, consider these factors when evaluating what’s best for your needs:


  • Financial security for your loved ones
  • Cash value available 
  • Easy to get approved with no health exams necessary


  • Monthly premiums may be difficult for seniors on a tight budget
  • Benefit amounts are lower than other types of life insurance
  • Guaranteed acceptance policies have higher rates

How to Compare Policies for the Elderly

Begin comparing burial insurance policies by determining what you need from them. When you’re considering a policy, look for these features:

  • Medical Exam: Do you need to have a medical exam for acceptance? 
  • Additional Benefits: Are there any riders available to further enhance your policy? 
  • Administrative or Annual Fees: Does the company charge an annual fee? If so, how much?
  • Waiting Period: Is there a mandatory waiting period, or is your beneficiary able to receive the full benefit immediately?
  • Premiums: Does the company lock in your premium price, or will it increase as you get older? Are there any discounts available? 
  • Qualifications: Are there any qualifying factors you need to meet, like age requirements? For example, many companies do not offer burial insurance for seniors over 90.


Burial Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

Take Action 

Now that you know about the best burial insurance policies for seniors available in 2020 and how to compare them, you can decide which one is right for you.

Our overall choice was Mutual of Omaha; however, they won't be a "one size fits all" solution for everyone.

If you need burial insurance, you can get immediate quotes and coverage by clicking here or on any of the above buttons. 

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