Top Ten Burial & Final Expense Insurance Policies
USA life insurance offers affordable burial insurance and final expense insurance plans. When you need a good senior life insurance policy with the right benefits. The AARP life insurance plan can be your answer.
Developed by New York Life Insurance Company, AARP’s final expense insurance will provide your beneficiaries. With invaluable financial peace of mind in the event of an unexpected death.
- 1 Burial & Final Expense Insurance Policies
- 1.1 The best burial insurance companies below here:
- 1.1.1 AARP Easy Acceptance Life Insurance
- 1.1.2 AARP Burial Insurance Plans
- 1.1.3 Gerber Life Insurance: Finalist, Best overall
- 1.1.4 Foresters Financial: The best types of coverage
- 1.1.5 Globe Life: Best Policy for Burial
- 1.1.6 Mutual of Omaha: Best subscription process
- 1.1.7 Colonial penn: The best value
- 1.1.8 AAA Life Insurance Company: Best Membership Discount
- 1.1.9 Fidelity Life: the best for waiting periods
- 1.2 What is burial insurance?
- 1.3 What does burial insurance typically include?
- 1.4 Can burial insurance be denied?
- 1.5 Why choose AARP life insurance?
- 1.6 Cheap Term Life Insurance
- 1.7 Top permanent life insurance
- 1.1 The best burial insurance companies below here:
Burial & Final Expense Insurance Policies
“Burial insurance” generally refers to a complete final expense insurance policies with a death benefit of $5,000 to $26,000. As its nickname implies, people purchase this type of policy to provide money. For funeral and burial expenses for themselves and / or their family members.
The best burial insurance companies below here:
- AARP Easy Acceptance Life Insurance – Best Overall
- Gerber Life Insurance: finalist, best overall
- Foresters Financial: the best types of coverage
- Globe Life: Best Price
- Mutual of Omaha: Best subscription process
- Colonial penn: the best value
- AAA Life Insurance Company: Best Membership Discount
- Fidelity Life: the best for waiting periods
AARP Easy Acceptance Life Insurance
This policy allows consumers to purchase up to $ 25,000 in burial insurance without a medical exam. And it comes with guaranteed rates that will never increase.
AARP members ages 50-80 and spouses ages 45-80 are eligible to apply, although this life insurance product. It is not available in Montana, Minnesota, and Missouri. Your policy will also be paid in full at age 95, which means that you will not make any further payments. Although you will have coverage until the end of your life, which will extend beyond 100.
AARP Burial Insurance Plans
Fortunately, AARP makes it easy for its members to get a quote Free online. After providing basic information and answering a simple health question.
Premiums of $ 25,000 in coverage for a 50-year-old man or woman. Start at $ 137 and $ 106 per month, respectively. These prices go up to $285 and $237 for a 75 year old.
Why we chose this company: We selected AARP because of New York Life’s reputation and financial strength. Along with the ease with which consumers can apply for a policy online and without a medical exam.
Gerber Life Insurance: Finalist, Best overall
Gerber life insurance might be better known for children’s plans. But this final expense company also offers lifetime burial policies for seniors. Its acceptance is guaranteed if you are between 50 and 80 years old. And if you do not have to endure a medical examination or complete a long health questionnaire. The online application takes only a few minutes to complete and the coverage amounts range from $5,000 to $25,000.
Your burial insurance premiums will never go up. And you can count on being covered for the rest of your life. Specifically, suicides within two years only come with a refund of all premiums plus. 10% interest instead of a full death benefit.
Like other burial insurance providers, Gerber Life Insurance. Makes it easy to get a free quote online or over the phone. Premiums of $ 25,000 in coverage for a 50-year-old man. And woman are $ 108.86 and $ 84.79 per month, respectively. This jumps to $ 347.42 and $ 269.04 for a 75-year-old man.
Why we chose this company: Gerber did not earn better overall simply due to its waiting period for benefits in the first two years. Otherwise, Gerber Life Insurance offers an unsecured final expense insurance policies with guaranteed approval for people ages 50-80.
Foresters Financial: The best types of coverage
This coverage provides lifetime coverage up to age 121, and your premiums will never increase.
Foresters also adds three additional brokers to your policy at no additional cost: an Accelerated Death Benefit for Terminal Illness. An Accidental Death Clause by Common Carrier, and a Family Health Benefit Clause intended to add additional coverage for certain natural disasters.
While you have to connect with an agent to work with Foresters Financial on a burial. Or final expense insurance policies. This company has a 140-year history in this business. As well as an excellent A rating for AM Best’s financial strength.
The premiums of $ 25,000 in coverage for a 50-year-old man and woman are $ 75.27 and $ 60.40 per month, respectively. This increases to $ 252 and $ 182.96 for a 75 year old.
Why we chose this company: Foresters Financial made our list because of the three additional coverage factors you receive on your policy. At no additional cost that expand the scope of your coverage.
Globe Life: Best Policy for Burial
Globe Life offers burial insurance with a lot of flexibility and options. For example, you can buy burial insurance in amounts ranging from $ 5,000 to $ 100,000. And you can buy burial insurance for adults and children without a medical exam and no waiting period. And if you’re concerned about quality, you should know that Globe Life is rated A + for AM Best’s financial strength. Globe Life also has an A + rating from the Better Business Bureau (BBB).
According to Globe Life, monthly rates for burial insurance start at $3.49 for adults and $2.17 for children or grandchildren.
The premiums of $ 20,000 in coverage for a 50-year-old man and woman are $ 26.34 and $ 18.85 per month, respectively. This increases to $ 11.79 and $ 67.81 for a 75 year old.
Why we chose this company: Globe Life announces affordable monthly rates for its guaranteed burial insurance policies. Including rates for men and women 50 and under for less than $ 30 per month.
Mutual of Omaha: Best subscription process
Mutual of Omaha offers burial insurance in amounts between $2,000 and $ 25,000, and is also transparent when it comes to price. The company not only allows you to request a free final expense insurance policies quote by providing limited information online, but also has a table of average premiums based on gender and age that is prominently displayed on its website.
With Mutual of Omaha, you don’t have to complete a medical exam or answer urgent medical questions. Benefits are never reduced due to your age or health, and you are guaranteed to be accepted if you are between 45 and 85 years old. Most claims are also paid within 24 hours.
Premiums of $ 10,000 in coverage for a 50-year-old man and woman are $ 36 and $ 30 per month, respectively. This increases to $ 89 and $ 69 for a 70 year old.
Why we choose this company: You don’t have to complete a medical exam or answer questions about your health, and coverage is guaranteed up to age 85. Most insurers end at age 80.
Colonial penn: The best value
This company has been around for over 60 years and offers guaranteed life insurance. People ages 50 to 85 are eligible for coverage in most cases, and cannot be turned down because of their health.
Your Colonial Penn life insurance $9.95 premium is fixed for life, but you have the option to pay your premiums on a monthly, quarterly, semi-annual or annual basis. You won’t have to undergo a medical exam at all, and you can request a free quote online.
A downside to Colonial Penn is the fact that coverage limits may not be high. All policies are priced at $9.95 per unit, with the option to purchase one to eight units. But the company reduces the amount of coverage per unit as people age, regardless of when they buy it.
- 16,444 $ in coverage for a 50-year-old woman.
- 14,288 $ in coverage for a 50-year-old man.
- 10,664 $ in coverage for a 65-year-old woman.
- 7,456 $ in coverage for a 65-year-old man.
- 6,336 $ in coverage for a 75-year-old woman.
- 4,480 $ in coverage for a 75-year-old man.
It is possible to get a coverage unit for $ 9.95 with a limited death benefit.
Why we chose this company: Rates for guaranteed burial insurance coverage can be as low as $ 9.95 for all ages, although the amounts of coverage will vary.
AAA Life Insurance Company: Best Membership Discount
AAA offers burial insurance coverage for people between the ages of 45 and 85.
The coverage is valid for up to $25,000, although you can buy smaller amounts if you want. Also, coverage is for life and does not expire as long as you continue to live and pay premiums up to 100 years, at which point you no longer need to but are still covered.
While you do not have to be an AAA member to purchase this coverage, there is no $ 60 annual fee for your policy if you are an AAA member. You may also be eligible for package discounts if you purchase life insurance with other policies. Premiums of $ 25,000 in coverage for a 50-year-old man and woman are $ 115 and $ 83 per month, respectively. This increases to $ 251 and $ 209 for a 75-year-old man.
Why we chose this company: The $ 60 annual fee for this burial insurance does not apply to AAA members, and you have the option of obtaining combined premium discounts on multiple policies.
Fidelity Life: the best for waiting periods
Fidelity Life offers RAPIDecision® final expense coverage designed to help people pay the price of burial and other final expenses. This coverage is a good option if you are between the ages of 50 and 85 and want to buy final expense insurance policies in the $5,000 to $35,000 range.
This policy never expires as long as the premium is paid, and your premiums will remain the same for life. The amount you will pay varies according to your age, sex, and other factors.
Some quotes to keep in mind: The premiums of $ 10,000 in coverage for a 50-year-old man and woman are $ 41.05 and $ 32.29 per month, respectively. This increases to $ 108.05 and $ 83.66 for a 75 year old.
Why we choose this company: Your coverage begins immediately after your premiums are approved and paid, with no waiting periods with limited coverage.
What is burial insurance?
Burial insurance (sometimes called final expense coverage) is a type of full life insurance that is marketed specifically to cover final expenses, including burial and prepaid cremation expenses. This makes final expense coverage different compared to final expense insurance policies over 80 to 90, which are generally purchased to replace income and cover normal family living expenses when a parent or other breadwinner dies. family.
When funeral insurance is often purchased in amounts of $ 250,000, $ 500,000, $ 1 million or more, burial insurance generally comes in amounts of up to $ 25,000. As a result, final expense insurance policies are generally less expensive.
And since burial insurance lasts a lifetime and never expires, this type of coverage can give you considerable peace of mind.
What does burial insurance typically include?
That means the money will go to a traditional burial with a vault and cemetery, cremation, or alternative services.
Burial insurance proceeds can also be used to cover medical bills or end-of-burial open care, credit card bills, and various accumulated debts at someone’s end of life.
Please note that if you want to make sure that your burial insurance proceeds are used for the type of service you want, you can make an appointment with a funeral home in your area without paying upfront for your services.
During one of these meetings, you will sit down with a director or funeral representative who will speak and record your final wishes. At that time, her final wishes will remain in the funeral home until she passes away. You can also make a copy for your records or for family members to keep on file.
Can burial insurance be denied?
Burial insurance is generally a “guaranteed problem”, which means that you cannot be denied coverage or your policy can be canceled for medical reasons. As long as the policy is paid every month until you reach the age when your insurer no longer requires you to pay premiums, your senior open care policy will remain in effect for the rest of your life.
To ensure you end up with burial insurance that never expires, you should ask your insurer or check the terms and conditions of the policy. Many companies also have a frequently asked questions (FAQ) section or page with questions like, “Will my burial insurance expire?”
Why choose AARP life insurance?
AARP life insurance provides seniors with a number of end-of-life life insurance policies to choose from, including: term life insurance, permanent life insurance, and comprehensive guaranteed insurance.
Some of the benefits and requirements of AARP life insurance include:
- The holder of the aspiring policy must be between 25 and 85 years old.
- Flexible coverage plans that start at $ 3,000 and go up to $ 50,000
- No medical exam is required to qualify
- Accidental Death Benefit
- Premiums are guaranteed not to change due to health
- Designed to cover your funeral and burial expenses
It is always a good idea to compare AARP life insurance quotes with other top rated life insurance companies. We have many options on our website with the help of our life insurance calculators.
Cheap Term Life Insurance
This affordable life insurance policy provides protection for people between 50 and 74 years of age. In this policy, future policyholders are not required to undergo a medical examination;
This form of life insurance coverage grants policyholders up to $ 100,000 of term life insurance. For those looking for a low monthly life insurance payment. Cheap term life insurance may be the right option. As long as you make your monthly insurance payments on time, your policy will remain active until your death, or until the age of 80.
However, it is very important to know that this type of affordable final expense insurance policies does not guarantee the level of premiums, and your monthly payment will increase every 5 years.
This is one of the disadvantages of buying a group life insurance policy. For all these reasons, we do not recommend this type of insurance to cover final expenses. See the AARP Term Life Insurance Rate Guide for more details.
Top permanent life insurance
Senior burial insurance is a permanent life insurance policy available to AARP members between 50 and 80 years of age. To qualify for coverage, you only need to answer 3 health questions on the application.
This type of full life insurance is a convenient way to help surviving family members cover medical costs and pay for funeral expenses. Additionally, the accumulated cash value of this type of policy can be used to cover overdue or emergency life insurance payments.
However, please note that an AARP (permanent life insurance) final expense insurance policies does not guarantee tier premiums and your monthly cost may increase in the near future.
In addition, for the first two years, New York Life reserves the right to cancel your permanent policy if your request contains inaccurate information about your medical history. That is why it is so important to do a little research and select the right final expense insurance plan that meets your needs and affordability.
- Top Ten Burial & Final Expense Insurance Policies Review.