Best Final Expense Insurance Companies – 2020 Review

Final expense and burial insurance can help you to spread the cost of this expensive event, giving you the opportunity to pay for it over the course of several years. Not only will this take the pressure off of your family’s shoulders at this difficult time, but it will also ensure that they receive as much of your legacy as possible.

It’s sad to think that one of the most expensive purchases you will ever make often happens after you pass away. Like most things in life, funerals and burials have seen a steep rise in cost over the last few years, and you will struggle to find a way to avoid paying for them.

Families often have to dip into their inheritance pot to cover these costs when the deceased doesn’t have any insurance. This isn’t a nice idea, and many people will want to make sure that their loved ones are left with as much as possible when they die.

We’re going to explore some of the final expense insurance we offer, giving you an idea of the different features and benefits they offer.


Let’s dive right in!

The Companies To Compare

We have a large range of different insurance providers working with us, and this means that we can often provide policies which are far more tailored to your needs than other companies. You can find a little bit of information about the different companies we work with below.

Mutual of Omaha

Mutual of Omaha is one of the US’s best-known final expense insurance providers. Having been in the game for more than 100 years, they are a good option for those who want a company with experience. Consistently receiving A ratings from insurance watchdogs, it makes sense that people continue to flock to this provider, and we’re sure you’ll be happy with their options, too.


Like Mutual of Omaha, Transamerica has been in the final expense insurance game for a very long time. Taking a customer-focused approach, they work hard to provide information which shows the importance of this sort of financial product, and can teach you a thing or two about this field. Compared to the benefits someone would receive without this insurance, Transamerica’s options are staggering.


Cigna offer a range of insurance options for those looking to cover the costs of their funeral. Alongside final expense insurance, they also offer whole-life insurance, and this will mean an even bigger payout to your loved ones when you pass away. The company itself has been around for decades, and they offer 24/7 support to make it easier to claim.


Like Cigna, AIG offer their final expense insurance as a package with life insurance. Their coverage is extensive, and their payouts are generous, making them a popular choice for those looking for a new policy. With more than 30 years of industry experience, they have proven themselves to be masters of the insurance industry.

Liberty Bankers

With over $1.3bn in assets alone, it’s easy to see that Liberty Bankers are a serious player in the insurance game. Starting in the late 50’s, they may not be the oldest option on our books, but they certainly act like one of the biggest companies around. They currently hold a B+ score with industry watchdogs.

Comparing Their Features & Benefits

Every financial product comes with its own features and benefits. When it comes to something like final expense insurance, it’s crucial that you spend the right amount of time assessing your options and making sure that they will work for you. We’ve collected some of these features and benefits below, giving you the chance to see how each of our providers stacks up.

This information will change from year to year, and some companies will be happy to negotiate your own policy. We can help you to figure out what you need from your final expense insurance if you’re unsure about the direction to take.

The Final Payout

The final payout your loved ones receive from your final expense insurance is incredibly important. With the average funeral costing more than $11,000, it makes sense to look for a policy which will cover this with ease, leaving your family with money to spend on other things. We’ve broken down the different payout amounts from our providers below.

Mutual of Omaha: Mutual of Omaha are very flexible with their policies. As standard, they will offer payouts between $10,000 and $20,000, but you can choose to have this higher or lower.

Transamerica: Transamerica are entirely flexible with their policies, and you can arrange your own payout amount according to your needs.

Cigna: Cigna offer two final expense insurance policies, but they both offer between $2,000 and $25,000 as they payouts.

AIG: AIG are very straightforward with their payout amounts, offering $5,000 to $25,000 on their standard policies.

Liberty Bankers: Like Transamerica, Liberty Bankers are flexible, and are happy to work out a payout which will work for you.

The amount of money which your final expense insurance pays out will be directly tied to your monthly premium. The more you pay each month, the higher the payout at the end, and most insurance providers will be happy to be flexible with this when you have your own ideas in mind. Transamerica and Liberty Bankers offer the most flexibility in this category.


Final expense insurance policies are a great product. The money you put into something like this will mostly see it’s way back to your loved ones, and this makes them excellent value when compared to other types of insurance. Of course, though, how do their values stack up against one another?

Mutual of Omaha: Mutual of Omaha make it nice and easy to figure out how much your policy might cost. A 50 year old woman would pay at least $25 per month for a $10,000 policy, while a man of the same age would pay $29.

Transamerica: Transamerica aren’t as open with their costs as other providers, as they prefer to give individuals quotes for their insurance. You can expect to pay $22 a month as a woman at 50, and $31 a month if you’re a man, all for a $10,000 policy.

Cigna: Cigna have worked hard to make sure that their insurance is nice and affordable, and a lot of people are happy with their offerings. A woman at the age of 50 can expect to pay at least $22 a month for a $10,000 policy, while a man will pay at least $31.

AIG: AIG are pricier than the options above, with women at 50 paying at least $35 a month for a $10,000 policy, and men having to fork out at least $51. This may seem quite expensive, but this is for a guaranteed policy, rather than a living promise.

Liberty Bankers: Liberty bankers have built a good reputation for customer service over the years, and their prices tell a similar story. Women can expect to pay at least $26 a month for a $10,000 policy, while mean will have to spend $31 for the same product.

As you can see, the prices these companies offer are always going to be very similar. They work hard to be competitive, though a big part of this revolves around the costs which come with providing final expense insurance. Cigna offer the cheapest policies for women, while Mutual of Omaha are the most affordable for men. You have to look at their other features before deciding which is best, though.


Security is incredibly important when you’re thinking about final expense insurance. If your provider goes bust before you pass away, you could lose your cover and the money you’ve spent on it. Thankfully, all of our providers have huge financial strength, with plenty of assets under their control to cover the cost of all of their policies.

You should always consider this when you’re looking at products like insurance, choosing companies which are likely to be around long after you’ve gone.

Their Individual Benefits

While they share a common purpose, the benefits which your final expense insurance provides will be dependent on the company offering the policy. This makes it well worth looking at each of the policies individually to see what they have up for grabs.

Mutual of Omaha: As one of the best-rated and most popular final expense insurance providers in the US, Mutual of Omaha has always been a good choice. Their policies come with terminal illness and nursing home cover as standard, offering advanced payouts if you find yourself in need. They won’t expect you to sit any exams, and their policies have no waiting lists, meaning that you only have to qualify to start this policy. Your eligibility will be largely based on your current and past health.

Transamerica: One of the biggest features offered by Transamerica is their 10-pay plan. This enables you to pay off your policy in exactly 10 years, and this is something which few providers are willing to offer. Along with this, their eligibility requirements are more relaxed than other companies, accepting a wider band of age groups than most other companies. They also offer a wider range of policies than most other providers, making it easier to pick and choose the features you want.

Cigna: Cigna offer two different final expense policies, both of which are free from height and weight charts, physical exams, and intrusive background checks. They offer a 5% discount to spouses, making this an excellent option for couples looking to get covered, while also offering an accidental death rider as standard with their most popular policy. They offer both instant and 2-year waiting period policies.

AIG: AIG have done tremendous work when it comes to offering policies to people who otherwise wouldn’t be able to get them elsewhere. They offer options which come with no health questions, exams, or requirements, opening the doors to those who are already suffering with conditions like dementia but still have plenty of life left in them. They are also incredibly flexible with the payouts they offer, with their bottom and top tiers being both competitive and affordable.

Liberty Bankers: Unlike most of the other final expense insurance providers out there, Liberty Bankers make it possible to cover your children and grandchildren with your policy. This is far cheaper than buying individual policies, and an excellent way to get the whole family covered. Along with this, they also offer policies for those with existing medical conditions and those in need of an instant start to their policy.

Each of these companies offers something unique, with all of their final expense insurance policies coming with loads of benefits. For those with families, Liberty Bankers could be the best option. If you are already suffering from a serious medical condition, though, Transamerica could be the best option for you.

We’re always happy and eager to discuss your final expense insurance needs. Our experience in this field is unparalleled, and we’re extremely proud of the support we’ve been able to provide since we opened our doors. Just get in contact and our friendly team will be ready to help in no time at all.

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