Best Burial Insurance for Seniors: 2019 Review

No one likes bringing up the topic, but do you have a burial insurance policy in place? Will your loved ones have a financial burden (financial emergency) because the money is due immediately to pay for funeral and final expenses?

If you have a permanent whole life policy in place to help your family, then they can focus on being there for each other instead of having the added stress of figuring out to pay for everything and asking others for money.

Unlike home or auto insurance, many people don’t think to purchase burial insurance until it’s too late. An average funeral cost approximately $9,000 – $12,000 and the costs are only projected to keep increasing.

You can avoid passing on this financial burden of funeral costs and final expenses (including bills, mortgage payments until house is sold, etc…) by familiarizing yourself with your available burial / final expense life insurance options to be able to make a wise decision.

This guide will outline the best burial insurance and final expense companies for seniors in 2019 and provide you with the descriptive insights you need to make an informed decision.

1.  Mutual of Omaha

mutual of omaha logo

Established Insurance Company Since 1909

A+ (Superior) rating from A.M. Best

A+ rating from Better Business Bureau

Mutual of Omaha Living Promise coverage amounts: $2,000 – $40,000

Monthly premiums are locked in guaranteed to never go up

The Policy Builds Cash Value

You choose when you want your first payment to begin

Mutual of Omaha accepts several health issues including: Diabetes, Blood Thinners, Skin Cancer, High Blood Pressure, etc… just to name a few

Mutual of Omaha is at the top of the list for good reason. They have an excellent reputation with A+ ratings, and usually have some of the lowest prices among the top burial / final expense insurance companies.

Burial insurance, a concerning topic for many individuals, can become very straightforward if you take advantage of Mutual of Omaha’s affordable and simplistic Living Promise plan.

Only available through a Licensed Agency contracted with Mutual of Omaha Insurance Company such as Choice Senior Insurance Agency

You can get a Mutual of Omaha Living Promise Policy quote by clicking on the (Get A Quote) button at the top of page. We can also give you a quote by phone and answer your questions at 1-800-480-7198

2. Royal Neighbors Of America

royal neighbors logo

Established in 1895 and have built an outstanding reputation over the last 120 years and became one of the first insurance companies to provide coverage to women and children.

A- (Excellent) rating from A.M. Best

A+ rating from Better Business Bureau

Monthly Premiums will Never increase

Coverage Amounts Range from $5,000 to $25,000

Policy Builds Cash Value

You choose when first payment begins

They also include at (no extra charge) many additional benefits to their policy holders that make them one of the top choices for seniors.

That reputation still stands today as Royal Neighbors of America provides quality coverage and extra benefits to individuals and families across the country. Unlike many other top final expense insurance companies, their burial life insurance policies are very easy to qualify for immediate coverage and especially for people with diabetes.

In fact, they just may be the most diabetic-friendly burial insurance provider in the country. Besides diabetes, this company takes pride in giving burial coverage to people with various kinds of health conditions.

Available through a Licensed Agency such as Choice Senior Insurance Agency

You can get a Royal Neighbors of America Policy quote by clicking on the (Get A Quote) button at the top of page. We can also give you a quote by phone and answer your questions at 1-800-480-7198

3. Liberty Bankers Life

liberty bankers life logo

Liberty Bankers Life Insurance Company established in 1958

B+++ (Good) rating from A.M. Best

A+ rating from Better Business Bureau

Monthly Premiums stay the same forever

Coverage Amounts start at $3,000 and go to $30,000

This policy builds cash value for you

Your choice when first payment date begins

Liberty Bankers Life is an excellent choice for those who have COPD, Emphysema, or even Kidney and Liver Diseases. They are one of the few companies who will give immediate day-1 full coverage for those conditions.

Also, with most final expense insurance companies you have to be at least the age of 50 to be eligible for this type of coverage. However, Liberty Bankers Life will give coverage to those with health conditions starting at age 18.

Available through a Licensed Agency such as Choice Senior Insurance Agency

You can get a Liberty Bankers Life Insurance Policy quote by clicking on the (Get A Quote) button at the top of page. We can also give you a quote by phone and answer your questions at 1-800-480-7198

4. Prosperity Life Group

burial insurance companies

Prosperity Life Insurance Group established in 1938

A- (Excellent) rating by A.M. Best

A+ rating from Better Business Bureau

Monthly Premiums Guaranteed Not to Increase

Insurance Coverage Range: $1,500 – $35,000

Your Policy Builds Cash Value

You choose when first payment begins

There is a lot to like about Prosperity Life Group. While they aren’t a household name, they do provide some quality benefits you should consider if the other entries don’t interest you.

For example, they are very quick and will let you know if you’ve been approved in nearly 15 minutes. They also accept people with high-risk issues and are available in nearly every state.

They may be able to save you money if you are a tobacco / nicotine user but you don’t smoke cigarettes. They will give you non tobacco rates even if you use tobacco as long as you don’t smoke cigarettes.

Available through a Licensed Agency such as Choice Senior Insurance Agency

You can get a Liberty Bankers Life Insurance Policy quote by clicking on the (Get A Quote) button at the top of page. We can also give you a quote by phone and answer your questions at 1-800-480-7198

5. American Amicable

american amicable logo

American-Amicable established 1910

A (Excellent) rating by A.M. BEST

A rating from Better Business Bureau

Monthly Premium will NOT go up on you

Coverage Amounts Range: $2,500 – $35,000

Policy Builds Cash Value

Your choice when payment begins

American Amicable can be another great choice for tobacco users. They have competitive rates for cigarette smokers and will give non tobacco rates to those who smoke an occasional pipe or cigar. They also have additional riders that customers seem to like.

Available through a Licensed Agency such as Choice Senior Insurance Agency

You can get an American Amicable Life Insurance Policy quote by clicking on the (Get A Quote) button at the top of page. We can also give you a quote by phone and answer your questions at 1-800-480-7198

6. AIG

aig logo

AIG established in 1919

A+ (Superior) rating by A.M. BEST

A- rating from Better Business Bureau

Monthly Premium Guaranteed to stay the same

Coverage Amounts available: $5,000 – $25,000

Policy Builds Cash Value

You can choose when first payment begins

AIG can be a great choice if you don’t qualify for any other policy. AIG only offers what they call guaranteed life insurance. All this means is that they don’t require any medical examinations or health screening, and you are guaranteed coverage.

Instead, customers will be placed on a 24-month waiting period before their policy will feature a death benefit. If the customer dies before this period elapses, AIG will refund all of the premium plus 10 percent interest tax free.

In addition, AIG is one of the only insurance companies that offer a terminal illness rider if a customer is suddenly given a life expectancy and a chronic illness rider if a disease prevents them from carrying out their daily tasks.

For high-risk individuals, reaching out to AIG may be a last resort if you can’t find reasonable coverage elsewhere. Though in times of health crises, it’s still a very great option.

7. Americo

americo logo

Americo established 1909

A (Excellent) rating by A.M. BEST

B- from Better Business Bureau

Premiums will stay the same for you unless you go from non smoker to smoker rates (smokers can start with non smoker rates and keep them if you quit within 2 years, otherwise the rates will go to smoker rates if you remain smoking)

Coverage Amounts Range: $2,000 – $30,000

Policy builds cash value

You decide when payments begin

Americo Eagle Premier can be another great choice for smokers. Their Eagle Premier coverage plan offers non tobacco rates to smokers for two years. If you quit smoking withing two years, you keep the non smoker rates forever.

Whatever your condition may be, you can likely qualify for one of Americo’s burial insurance options for reasonable price and substantial payout.

To help you find the best burial / final expense life insurance policy, make sure you look for three main components:

  1. The life insurance company you choose has high ratings and stable history.
  2. It gives your family the most benefits available for your budget with immediate coverage as long as you qualify.
  3. The policy’s price is better than what other burial insurance companies charge for the same coverage.

And remember, there isn’t one company that is best for everyone. Each final expense insurance company has different underwriting requirements and different premiums.

Still Unsure?

Are you still having doubts about which burial insurance option to select? Do you want to save both time and money, and get honest straight forward answers to your questions?

If so, you’ve come to the right place. At Choice Senior Insurance, we specialize in helping you choose the best burial insurance without any hassle. We don’t work for an insurance company, therefore, we can focus on helping you and doing the best thing for our clients.

Click here to receive an instant quote today!

You may call 1-800-480-7198 to get a quote, if you have questions, or if you would like to apply for coverage. We are here to serve you.

And if you decide to work with someone else, make sure they have three key attributes:

  1. They are an independent agency and do not work for an insurance company so that they can focus on helping you.
  2. They have experience in the burial insurance market so that they can find you the best policy for you.
  3. They focus only on burial / final expense insurance so that they are able to keep up with all the underwriting requirements from company to company to best serve you.

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