How Much Is Burial Insurance

Discover the costs associated with burial insurance, including factors that influence premiums, average price ranges, and tips for finding the best policy to secure peace of mind for you and your loved ones.

By Licensed Agent:  Sa El PublishedSeptember 19, 2024  UpdatedJanuary 11, 2025

Burial insurance, also known as final expense insurance, is a type of life insurance designed to cover the costs associated with your funeral and burial. It's an important consideration for many, especially seniors, who want to ensure their loved ones aren't burdened with these expenses. But how much does burial insurance actually cost? Let's dive into the details.

What Is The Average Cost Of Burial Insurance?

The cost of burial insurance can vary widely based on several factors, including age, health, and the amount of coverage you need. On average, you can expect to pay between $50 and $150 per month for a policy. However, this is just a ballpark figure, and your actual premium could be higher or lower.

What Is Another Name For Burial Insurance?

Burial insurance is often referred to by other names, such as final expense insurance or funeral insurance. These terms are used interchangeably and essentially mean the same thing. They all refer to a policy designed to cover end-of-life expenses.

Why Is Burial Insurance More Expensive Than Term Life Insurance?

Burial insurance tends to be more expensive than term life insurance for a few reasons. First, burial insurance is typically a whole life policy, meaning it lasts for the insured's entire life, whereas term life insurance only covers a specific period. Additionally, burial insurance often requires less stringent medical underwriting, making it more accessible but also riskier for insurers, which drives up the cost.

How Much Does Burial Insurance Cost Per Month?

The monthly cost of burial insurance can vary based on several factors, including your age, health, and the amount of coverage you choose. For example, a healthy 50-year-old might pay around $50 per month for a $10,000 policy, while a 70-year-old might pay closer to $100 per month for the same coverage.

Factors Affecting Monthly Premiums

Several factors can influence your monthly premiums for burial insurance. These include your age, health status, and the amount of coverage you need. Generally, the older you are, the higher your premiums will be. Similarly, if you have pre-existing health conditions, you may also face higher premiums.

Ways to Lower Monthly Costs

There are a few strategies you can use to lower your monthly burial insurance costs. One option is to shop around and compare quotes from multiple providers. Another is to choose a lower coverage amount, which will result in lower premiums. Finally, maintaining a healthy lifestyle can also help you secure more affordable rates.

How Much Is Burial Insurance By State?

The cost of burial insurance can also vary significantly depending on where you live. Different states have different regulations and average costs of living, which can impact your premiums. Below, we'll take a closer look at the cost of burial insurance in a few specific states.

How Much Does Burial Insurance Cost In CA?

In California, the cost of burial insurance can range from $50 to $200 per month, depending on your age and health. The state's high cost of living can contribute to higher premiums compared to other states.

How Much Is Burial Insurance in GA?

In Georgia, you might find burial insurance premiums ranging from $40 to $150 per month. The cost of living in Georgia is generally lower than in states like California, which can result in more affordable premiums.

How much Is a Senior Life Insurance In Texas?

In Texas, senior life insurance, including burial insurance, can cost between $45 and $160 per month. Texas has a diverse range of insurance providers, which can help you find competitive rates.

How Much Is Burial Insurance in Florida?

In Florida, burial insurance premiums can range from $50 to $180 per month. The state's large senior population means there are many options available, which can help you find a policy that fits your budget.

Average Cost Of Burial Insurance Rates By State Chart

To give you a better idea of how burial insurance costs vary by state, we've compiled a table with the average monthly premiums for a $10,000 policy in each state.

StateAverage Monthly Premium
Alabama$55
Alaska$70
Arizona$60
Arkansas$50
California$100
Colorado$65
Connecticut$90
Delaware$85
Florida$95
Georgia$75
Hawaii$110
Idaho$55
Illinois$80
Indiana$70
Iowa$60
Kansas$65
Kentucky$55
Louisiana$75
Maine$85
Maryland$90
Massachusetts$95
Michigan$80
Minnesota$70
Mississippi$60
Missouri$65
Montana$55
Nebraska$60
Nevada$75
New Hampshire$85
New Jersey$95
New Mexico$65
New York$100
North Carolina$70
North Dakota$55
Ohio$65
Oklahoma$60
Oregon$75
Pennsylvania$85
Rhode Island$90
South Carolina$70
South Dakota$55
Tennessee$65
Texas$75
Utah$60
Vermont$85
Virginia$70
Washington$80
West Virginia$60
Wisconsin$70
Wyoming$55

As you can see, the cost of burial insurance can vary significantly from state to state. It's important to get quotes from multiple providers to find the best rate for your specific situation.

How Much Is Final Expense Insurance?

Final expense insurance, another name for burial insurance, typically costs between $50 and $150 per month. The exact cost will depend on factors such as your age, health, and the amount of coverage you need. This type of insurance is designed to cover the costs associated with your funeral and burial, ensuring that your loved ones aren't burdened with these expenses.

What Does Final Expense Insurance Cover?

Final expense insurance generally covers the costs associated with your funeral, burial, and other end-of-life expenses. This can include the cost of a casket, burial plot, headstone, and funeral service. Some policies may also cover additional expenses, such as medical bills or outstanding debts.

Who Needs Final Expense Insurance?

Final expense insurance is particularly beneficial for seniors who want to ensure their loved ones aren't burdened with funeral costs. It's also a good option for individuals who don't have other life insurance policies or sufficient savings to cover these expenses. By having a final expense policy, you can provide peace of mind for your family during a difficult time.

Key Factors That Affect Burial Insurance Costs

Several key factors can influence the cost of burial insurance. Understanding these factors can help you find a policy that fits your budget and meets your needs.

Age

Your age is one of the most significant factors affecting the cost of burial insurance. Generally, the older you are, the higher your premiums will be. This is because older individuals are considered higher risk by insurance companies.

Health

Your health status also plays a crucial role in determining your burial insurance premiums. If you have pre-existing health conditions, you may face higher premiums. Some policies may require a medical exam, while others offer guaranteed acceptance with no medical questions.

Coverage Amount

The amount of coverage you choose will directly impact your premiums. Higher coverage amounts will result in higher premiums. It's essential to choose a coverage amount that meets your needs without exceeding your budget.