Best Burial Insurance Companies

How to choose the right insurance company for burial coverage

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Having adequate burial insurance gives you peace of mind that your loved ones won’t have the financial burden of a funeral to shoulder when you pass away. Simply put, burial or final expenses insurance provides a cash payment to your named beneficiaries after you die. Although many people use this money to cover the cost of burial or cremation, it can be used for any purpose.

We explored more than 20 options for burial insurance policies and analyzed factors like premium cost, maximum coverage, ease of application, and the waiting period before benefits are paid. Keep reading to see which companies made the list of our best burial insurance.

Best Burial Insurance Companies

Best Burial Insurance Companies
Best Burial Insurance Companies

Best Overall : Mutual of Omaha

Mutual of Omaha

Mutual of Omaha

Why We Chose It: We chose Mutual of Omaha for our overall burial insurance pick because they offer guaranteed coverage to age 85 rather than the typical 80, with no underwriting and rates that never increase.

What We Like
  • Premiums never increase

  • Online quotations available

  • Affordable rates

  • Covers a variety of health issues

  • No medical exam necessary

What We Don't Like
  • Two year waiting period for full benefits

  • Qualifying age reduced to 75 in New York

Mutual of Omaha is named our top burial insurance because there’s no complicated application process, people aged up to 85 can purchase a policy, and the cost of premiums never increases. 

You can apply for a quote online for a Living Promise policy and choose coverage options between $2,000 and $40,000. Plans are guaranteed acceptance without a medical exam, providing you're aged 45 to 85 and within minimum and maximum weight limits. No matter what health issues you develop, the policy benefits never decrease. 

Plans can be customized with optional riders for accidental death or accelerated death due to terminal illness.

The standard waiting period is two years. Should the insured person die within this time, the policy fees are returned with an additional 10%. 

Mutual of Omaha is a well-respected company with an A+ rating from AM Best. Plus, they have a record of excellent customer service, as reflected in their Better Business Bureau (BBB) A+ rating.

Best For Ease of Application : AARP

Why We Chose It: AARP is the best pick for ease of application because there’s no medical exam, and you don’t need to answer medical history questions. AARP won’t refuse you coverage for any pre-existing health conditions.

What We Like
  • No medical exam

  • No lengthy health questionnaire

  • Online quotations available

  • No further payments once you reach age 95

What We Don't Like
  • Must be an AARP member

  • Two-year waiting period

  • Not available in New Jersey and Washington

AARP is a not-for-profit organization that advocates for older people’s health and independence. AARP’s Easy Acceptance Life Insurance is guaranteed acceptance, no matter what health issues you have. There’s no medical exam or health questionnaire required, making AARP an excellent choice for our ease of application choice.

With an impressive A++ rating with AM Best, the New York Life Insurance Company underwrites AARP policies. Plans are only available to AARP members aged 50 to 80 and their spouses. Maximum coverage is $25,000, and there's a two year waiting period on the policy. 

You can obtain a basic quote on the website. Premiums for $10,000 in coverage for a 50-year-old female are $44 per month. Policies are customizable with accelerated benefit and waiver of premium riders.

Once AARP approves your application, the rates won’t increase with age or health status, as they are guaranteed. Once you reach age 95, your coverage is maintained, but you won’t need to pay any further premiums thanks to the “Paid-Up” feature.

Best For Highest Coverage : Globe Life

Globe Life

 Globe Life

Why We Chose It: Globe Life offers flexible policies with benefits of up to $100,000, making it the ideal choice for our best for highest coverage choice.

What We Like
  • High coverage available

  • Low monthly premiums

  • Option for no waiting period

  • No medical exam necessary for some policies

  • Online quotations

What We Don't Like
  • Coverage only up to $50,000 in New York

  • Lengthy application process

With Globe Life, you can choose burial insurance with benefits ranging from $5,000 to $100,000, and there are options for no medical examinations and no waiting period, although these will cost more.

People across the country can buy a Globe Life policy, and there’s an option to quote online. Your first month's coverage with Globe Life costs $1. Then, for $20,000 in coverage, you can expect to pay around $30 each month for a 50-year-old man and $20 for a woman.  

Globe Life has a limited number of customizable options, including waiver of premium and terminal illness accelerated benefit.

AM Best rated Globe Life with an A for financial strength and they also hold an A+ rating from the Better Business Bureau (BBB).

Best For No Waiting Periods : Fidelity Life

Fidelity Life

 Fidelity Life

Why We Chose It: Fidelity Life is our top-pick for no waiting periods because with their RAPIDecision Final Expense policy, coverage begins immediately upon approval.

What We Like
  • No waiting period

  • No medical exam

  • Online quotes available

  • Range of optional riders

What We Don't Like
  • Must answer health questions

  • Premiums more expensive for people with health issues

  • Maximum coverage $35,000

  • Not available in Wyoming and New York

Fidelity Life Association is based in Illinois and has an AM Best rating of A-. It offers a range of term life insurance products and some permanent options tailored to seniors.

People aged 50 to 85 can apply for RAPIDecision Final Expense coverage online. In some cases, the policy can start the same day you apply, which is why it’s named our choice for no waiting periods.

With the Fidelity standard policy, you’ll complete a medical questionnaire, but you don’t need a medical exam. Your approval and the premium you’ll pay are based on your health. There are guaranteed issue policies without medical questions, but you’ll pay more and have lower coverage.

You can choose coverage between $5,000 and $35,000. If you opted for $10,000 in coverage, a 50-year-old man would pay $40/month, and a woman would pay $30/month. 

You can customize your policy with riders that extend coverage to include accidental death, accidental family death, or child death. There’s a free terminal illness rider that allows you to access a proportion of the death benefit early if you’re diagnosed with a terminal illness. The rider can be added at no additional premium charge.

Final Verdict

Your choice of burial insurance depends on your health and finances. People in good health can choose from dozens of coverage options. Whereas for those who need a guaranteed acceptance policy, the options are more limited. We've provided options to suit most circumstances.

Mutual of Omaha was our overall burial insurance choice, as there’s guaranteed coverage to age 85 with no underwriting. Plus, the rates won’t increase over time.

If you’re looking for a straightforward application process, consider AARP. It’s our pick for ease of application as there’s no medical exam or medical history questions, and they won’t refuse you coverage for any pre-existing health conditions.  

For those who prefer a higher coverage level, look at Globe Life policies with benefits of up to $100,000.

If the standard two-year initial exclusion period is a concern, our choice for no waiting period, Fidelity Life, could be of interest. You may even be able to get coverage the same day you apply.

Compare Providers

Insurance provider Why we picked it Maximum Coverage
Mutual of Omaha Best Overall $40,000
AARP Best For Ease of Application $25,000
Globe Life Best For Highest Coverage $100,000
Fidelity Life Best for No Waiting Period $35,000


What Is Burial Insurance?

Burial insurance is a form of whole life insurance that companies sell in small amounts to cover the funeral, burial, or cremation expenses when the policyholder dies. The policy’s death benefit goes directly to the named beneficiary who can use the money as they see fit. In addition to the burial, the payout can cover outstanding medical bills, other debts, or any legal costs.

Burial insurance policies aren’t meant for people with families who need a life insurance product to cover costly mortgages or children’s college tuition.

Sometimes called final expense coverage, these policies typically have maximum coverage amounts of $25,000–$50,000. Because the coverage amounts are much less than traditional life insurance policies, the premiums typically have a lower cost.

Most insurance companies offer their premiums on a guaranteed basis, which means that you won’t be denied coverage no matter what health issues you have.

How Much Does Burial Insurance Cost?

It’s challenging to pinpoint an overall cost for burial insurance because the rates vary according to several factors. The greater the coverage level, the higher the cost. Typically, women pay less than men, and premium prices increase with age. With some policies, your health may affect the cost. 

During our research, we found policies ranged from under $10 a month to as much as $300 a month for an individual in their 80s. 

Are There Multiple Options for Coverage?

If you are looking for an insurance policy to cover funeral costs, it’s worth noting burial insurance is just one type of life insurance and there are other options:

Term life insurance

If you have a specific financial obligation that has an endpoint, such as a mortgage, term life insurance is a good option. You can choose the level of coverage you need, and the length of the term, such as 10 or 25 years. 

Whole life insurance 

As the name suggests, these policies provide lifelong coverage and pay a death benefit to your beneficiaries, regardless of when you die. The policy increases in cash value at a predictable rate, but the premiums remain the same. Whole life insurance is usually considerably more expensive than term life insurance.

Universal life insurance

This is another option for lifelong coverage. Because not all universal life policies increase in value, they may be less expensive than whole life insurance.

Can You Be Denied Coverage For Health Reasons?

Typically, burial insurance is what’s known as a guaranteed issue. This means that no matter what health conditions or medical issues you have, the insurance company will not deny you coverage.

Once you are accepted, providing you pay your policy premium each month or year, the burial insurance remains in place and cannot be revoked for medical reasons.

Before buying a policy, it is essential to check the policy terms and conditions which will outline whether you can be denied coverage for health reasons. 

What Typically Isn’t Covered by Burial Insurance?

Burial insurance policies usually exclude deaths that occur within the first two years. However, this depends on the waiting period of your particular policy. Some companies refund the cost of premiums with an additional 10% or 25% if the insured person passes within the waiting period.

There may also be exclusions surrounding deaths due to suicide. Usually, a policy covers death by suicide following the initial waiting period of one or two years. If the insured person dies through suicide during the waiting period, the insurance company usually returns all the premiums paid with no other benefits. You can find details in the suicide clause of the policies terms and conditions.

Is Burial Insurance Worth It?

Whether or not burial insurance is worth it depends on your particular situation. For example, you may have other insurance policies that could be used to cover funeral costs when you pass away. Alternatively, you may have enough money in savings to cover the cost.

If neither of these circumstances applies, and you’re concerned about your family covering the various costs of the funeral, then burial insurance could be a worthwhile investment.

It’s worth considering that according to the National Funeral Directors Association, the median cost of a funeral is $7,640—with a vault the cost increases to $9,135. This is in addition to any other final expenses that you may have. 

The Federal Trade Commission has put in place a Funeral Rule to help you make informed decisions about funeral and associated expenses. The ruling means you’re entitled to request a written list of estimated funeral costs and a price list for caskets, cremation containers, and burial vaults. You need only pay for the services you require. This information can help you plan ahead to ensure you have enough burial insurance coverage to cover your approximate final expenses. 

How We Chose The Best Companies For Burial Insurance

Our analysis covered the company’s reputation and portfolio of offerings and considered policy terms, monthly premium costs, benefit amount, and customization options before selecting the four category leaders. 

Finally, we looked at how straightforward it is to obtain a quote and whether a physical medical exam is a requirement. Because financial stability is essential, we also reviewed data from AM Best before deciding on our top choices for burial insurance companies.

Advisor planning with clients at office

Morsa Images / Getty Images

Article Sources
Verywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
  1. AM Best. AM Best affirms credit ratings of Mutual of Omaha Insurance Company and its subsidiaries. Updated January 20, 2021.

  2. Better Business Bureau. Mutual of Omaha Companies.

  3. AM Best. New York Life Insurance. Updated July 22, 2020. 

  4. BBB. Globe Life and Accident Insurance Company.

  5. A.M. Best. AM Best downgrades credit ratings of Globe Life Inc. and its subsidiaries. Updated July 17, 2020.

  6. A.M. Best. AM Best affirms credit ratings of Fidelity Life Assurance Company Limited. Updated Jan. 21, 2021.

  7. National Funeral Directors Association. Statistics. Updated July 18, 2019.

  8. Federal Trade Commission. Funeral Rule.