Table of Contents
Written By: Julia Aas
Page Reviewed / Updated – 1/3/2024
Hours of Research Policies Reviewed Policies Selected Companies Considered Companies Selected
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What You Should Know About Burial Insurance

  • The average cost of a funeral ranges from $7,000 to $10,000
  • Without burial insurance, a type of life insurance, those expenses are left for your loved ones to cover
  • Burial insurance allows you to plan for funeral costs and alleviate the financial burden
  • There are a variety of strategies you can use to make obtaining a burial insurance policy more affordable, such as shopping around, opting for a smaller policy, and looking at policies guaranteed premiums.

Many Americans are concerned with planning for their financial futures. And as we get older, that planning begins to include planning for end-of-life expenses and funeral planning. Even if seniors don’t wish to be involved in the planning of their memorial services, with the average cost of a funeral ranging between $7,000 to $10,000, planning for the financial implications is a must.

Burial insurance, which is a specific type of life insurance, allows you to plan ahead for the costs of your funeral without leaving the financial burden with your loved ones. You may also hear it referred to as final expenses insurance or funeral insurance depending on the company. There are many different policies available to accommodate those with varying health conditions and desired amounts. While it’s great to have so much choice, it can be overwhelming to try and determine which burial insurance company and policy is best for your needs.

To help you make this decision, we’ve created a guide that profiles the best burial insurance companies and their policies. You’ll find details about qualifying factors, waiting periods, the approval process, and more. As you shop, this guide can help you understand which policies are best for your situation and narrow down your choices. If you still aren’t sure that burial insurance is something you need, check out our buyer’s guide at the bottom of the page for more helpful information.

Burial Insurance Terminology

When shopping for life insurance, you’re likely to come across some specialized terms. We’ve included this terminology section to help you understand exactly what each policy means as you’re reviewing your options.

Other Names for Burial Insurance
Burial insurance is a type of whole life insurance, so you may see it referred to by other names like final expense insurance and funeral insurance. All of these policies serve the same purpose. However, a pre-paid funeral is not a form of burial insurance.

Permanent Life
Permanent and whole life policies have high maturity ages, usually when you turn 100 or 121, meaning you’re unlikely to outlive them. If you outlive the policy, the benefit amount is typically paid directly to the policyholder.

Guaranteed Acceptance
Insurance companies offer guaranteed acceptance policies to people who would typically not qualify for other types of life insurance because of age or preexisting health conditions. Usually, anyone between a specified age range can qualify for the policy. But you may still find that the application process will ask you about your height, weight, and basic health questions. These policies typically have higher premiums than other policies.

Death Benefit
The death benefit is the amount of money the policy pays when you pass away. This is an amount that you select, usually between $5,000 and $25,000.

Your beneficiary is the person or people who will receive the death benefit payment when you pass away.

Waiting Period
In some cases, policies will not pay out the full death benefit until a predetermined amount of time has passed, typically 2 years. If you do pass away during this waiting period your beneficiary will not receive the full benefit amount. But it’s common for them to receive the amount you paid in premiums plus 10%. The exact terms of a waiting period will vary by policy.

Cash Value
Many burial insurance policies accumulate cash value based on the premiums you pay. Policies with cash value allow you to borrow against the cash value with interest. While this may help you cover expenses if you find yourself in a tough financial spot while you’re still alive, failing to pay back the cash value and interest before you pass will cause the borrowed amount to be deducted from the amount your beneficiary receives.

How We Chose the Best Burial Insurance

The world of burial insurance is large, and no two policies are quite the same. To choose the best burial insurance policies, we took the following factors into consideration:

Simple Qualification Process
Each company has its own regulations about what standards must be met for an individual to qualify for a burial insurance policy. Some companies have very few requirements, while others require applicants to answer detailed surveys and undergo a medical examination. For this guide, we chose policies that do not require any physical examination. While some do require a questionnaire, we favored those that ask fewer qualifying questions.

Guaranteed Premiums
There are many burial insurance policies that allow the premium rate to increase as you age. All of the policies included in this guide have locked-in or guaranteed premiums that will never increase once you’ve been accepted. The company will also never cancel the policy on you, even if your health situation changes, unless you stop making payments.

Many burial insurance policies mature, or have an end date, based on your age. We only included policies with no maturity age or high maturity ages that you are unlikely to outlive. Policies that do have maturity ages often pay you the full benefit amount if you do outlive it.

The Best Burial Insurance Companies of 2024

For a quick overview of our findings on the best burial insurance companies of 2024, take a look at the information in the table below.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
AARP: Guaranteed Acceptance Life Insurance 50-80 No Medical Exam — No Health Questionnaire Up to $25,000 2 Years Premium Payments Continue Until Age 95, But Coverage Never Ends
Mutual of Omaha: Guaranteed Whole Life Insurance 45-85 (in NY, 50-75) No Medical Exam — No Health Questions $2,000-$25,000 (in WA, $5,000-$25,000) 2 Years Never Expires
AIG: Guaranteed Issue Whole Life Insurance 50-80 No Medical Exam — No Health Questions $5,000-$25,000 2 Years Never Expires
Transamerica: Immediate Solution 18+ No Medical Exam — Some Health Questions Up to $50,000 None 121
Foresters Financial: PlanRight Whole Life Insurance 50-85 No Medical Exam — Some Health Questions $2,000-$35,000 Dependent On Final Approved Plan 121
Colonial Penn: Permanent Whole Life Insurance 40-75 No Medical Exam — Some Health Questions Up to $50,000 None 121
Fidelity Life: RAPIDecision Final Expense 50-85 No Medical Exam — Health Questions — Database Check $5,000-$35,000 None 121
Gerber Life: Guaranteed Life Insurance Plan 50-80 No Medical Exam — Some Health Questions $5,000-$25,000 2 Years 121
Sagicor Life: Sage Whole Life 18-65 automated underwriting; Over 65 Fully Underwritten Process No Medical Exam — Some Health Questions $25,000-$250,000 None 121
Americo: Eagle Premier 50-85 (nonsmoker); 50-80 (smoker) No Medical Exam — Some Health Questions $5,000-$30,000 None Never Expires

AARP: Guaranteed Acceptance Life Insurance

Best Premium Payment Policy

AARP provides services to help aging Americans remain empowered and independent. Operating since 1958, the group makes life more enjoyable, and the world more accessible, for anyone over the age of 55. So while AARP isn’t an insurance company itself, it has partnered with New York Life to provide a simple burial insurance option for members and their spouses. New York Life Insurance Company is the third-largest life insurance company in the United States and has been providing services since 1845.

This policy also offers a unique “Paid-Up” feature not found in many other burial insurance policies. With this feature, your premium payments end when you turn 95. But the coverage continues throughout the rest of your life, regardless of how long you live. Since health care costs tend to rise as we age, this is an appealing feature for saving some money on premiums later in life.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Guaranteed Acceptance Life Insurance AARP Members 50-80 — Member Spouses 45-80 No Exam — No Questionnaires Up to $25,000 2 Years Premiums End at Age 95, but Coverage Continues


To qualify for the guaranteed acceptance life insurance policy, you must be an AARP member between 50 to 80 years old. Spouses of AARP members can apply for a policy between the ages of 45 to 80. This guaranteed acceptance means that you can’t be turned down if you meet the eligibility requirements, even with any pre-existing health conditions that might be present. There’s no medical exam or health questionnaire required in the application process either, making it a truly simple solution for seniors seeking a comprehensive plan, especially if you’ve had health problems in the past that have disqualified you from other policies.

Plan Information

  • Coverage: The policy is available across the United States except in New Jersey and Washington, and can provide up to $25,000 in life insurance coverage. Guaranteed lifetime protection means that the policy lasts for your entire lifetime, as long as you make your payments on time. 
  • 2-Year Waiting Period: There is a 2-year waiting period on the policy – if you pass from natural causes within this period, your beneficiary will only receive 110% of premiums paid, but full benefits are paid for accidental death from the start.
  • Fixed Rates: Once approved, your premium rates are guaranteed, so you don’t need to worry about them increasing with age or changing health status. 
  • Paid-Up. The “Paid-Up” feature means policyholders can stop premium payments altogether when you turn 95 while maintaining your coverage. 
  • 30-Day Satisfaction Guarantee: AARP offers a 30-Day Guarantee on the policy. While the Certificate of Insurance is issued as soon as you’re approved, you’ll have 30 days to evaluate the coverage. If you decide it isn’t for you within this time period, you can return it for a full refund on any premiums you’ve already paid.

Mutual of Omaha: Guaranteed Whole Life Insurance

Best for Low Benefit Amount

Based out of Omaha, Nebraska, Mutual of Omaha has provided insurance solutions to individuals, families, and businesses for more than a century. The company has a reputation for being one of the more innovative insurance companies in the country. It has also been recognized for providing a superior customer experience.

Mutual of Omaha’s Guaranteed Whole Life Insurance plan allows you to choose a benefit amount ranging from $2,000 to $25,000. The $2,000 option is rare, and makes the policy an excellent option if you’re anticipating a small funeral, considering cremation, or just don’t want to invest in a larger policy.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Guaranteed Whole Life Insurance 45-85 (in NY, 50-75) No Medical Exam — No Health Questions $2,000-$25,000 (in WA, $5,000-$25,000) 2 Years Never Expires


Mutual of Omaha’s Guaranteed Whole Life Insurance policy is available to seniors between the ages of 45 to 85, except in New York where the qualifying ages are 50 to 75. With the guaranteed acceptance, everyone is approved even if you have preexisting conditions that may disqualify you from other burial insurance policies. The simple application process does not require a medical exam or any health questions. Most applicants can complete the application in under an hour.

Plan Information

  • Coverage: Mutual of Omaha allows you to choose the benefit amount that best fits your needs in amounts ranging between $2,000 – $25,000. Selecting a small policy will often result in lower premiums, allowing you to save some money but still getting the coverage you need. 
  • 2-Year Waiting Period: This policy does have a required waiting period of 2 years, so if you pass away due to natural causes during that time span, your beneficiary would only receive an amount equal to the premiums you’ve already paid, plus 10%. After the waiting period ends, beneficiaries are entitled to the full amount of the policy. However, full benefits will be paid out if the cause of death is an accidental injury within those two years. 
  • Fixed Rates: Your premiums with this policy are guaranteed, so they’ll never increase due to your age or health issues. The benefits will also remain the same regardless of health or age. 
  • Cash Value: With this policy, you’re able to access the cash value for any monetary needs that may come up throughout your lifetime for you and your loved ones. 
  • No Expiration: Once issued, the policy lasts for your entire life, no matter how long you live. 

AIG Direct: Guaranteed Issue Whole Life Insurance

Best for Seniors on a Budget

In business since 1919, AIG is one of the most experienced insurance companies in the world. The company provides an array of insurance services throughout 80 countries, ranging from life insurance, property insurance, as well as retirement and financial services. This guaranteed issue policy makes our list for being an affordable option from an industry leader, with lower premiums than you would find from comparable providers.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Guaranteed Issue Whole Life Insurance 50-80 No Medical Exam — No Health Questions $5,000-$25,000 2 Years Never Expires


To qualify for AIG’s Guaranteed Issue Whole Life Insurance Policy, you must be between the ages of 50 and 80. The budget-friendly premiums make it a great option for seniors who want to get coverage from an industry leader, but can’t afford some of the more expensive options that are available on the market. The simplified application process does not require a medical exam and no health questions are asked, so you’ll be approved even if you have a health history that has prevented you from getting coverage with other policies and companies.

Plan Information

  • Coverage: Once you’re approved, coverage is permanent, so the policy will never be canceled on you as you age or if your health situation changes. It’s worth noting, however, that AIG does not provide coverage in the state of New York and charges an annual $24 administrative fee on this policy.
  • Fixed Rates: AIG’s premiums are guaranteed, so they’ll remain the same from day one, regardless of how long you live. 
  • Illness Adjustment: In addition to offering protection for burial and funeral expenses, AIG’s Guaranteed Issue Whole Life policy provides coverage for chronic and terminal illnesses. If you’re diagnosed with an illness that prevents you from living your life as normal, the company will pay you all paid premiums equal to 25% of the policy’s total value. 
  • Medical Bill Allowance: This policy allows you to access up to 50% of your total death benefit while you’re alive to cover the costs of medical bills and other incurred expenses due to your illness. AIG does charge an administrative fee to access these benefits, but it does give you some financial padding if you find yourself in this situation later on in life.
  • 2-Year Waiting Period: The 2-year waiting period means that the benefit amount is limited to 110% of paid premiums in the first two years unless the cause of death is accidental. 

Transamerica: Immediate Solution

Best for High Benefit Amount

Transamerica has more than 100 years of experience providing financial services in the United States. The company focuses on providing people with financial services that allow them to live long and happy lives at every stage of life. Since its creation in 1904, the company has always had a mission to make services available to everyone and now offers a range of retirement and insurance products to accommodate different stages of life and budgeting needs. Immediate Solution policy makes our list for providing a high benefit amount to a wide range of ages while still having an easy approval process.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Immediate Solution 18+ No Medical Exam — Some Health Questions Up to $50,000 None 121


This policy also stands out for having no waiting period regardless of age. For those who invest in life insurance earlier in life, waiting periods are little cause for concern. But for anyone who decides to purchase a policy later in life or after being diagnosed with a serious illness, those multi-year waiting periods can hurt your financial strategy and leave your loved ones with expensive bills. With no waiting period, you’re covered as soon as you’re approved, making it an excellent choice for anyone who wants coverage quickly.

Plan Information

  • Approval Not Guaranteed: This policy is partially underwritten and requires you to answer some questions about your health history, so you aren’t guaranteed approval. However, the questions are fairly simple and no medical exam is required. The approval process usually takes between 2-5 days.
  • Age-Limited Benefits: While you can apply for this policy earlier in life, the maximum death benefit amount is affected by your age. Applicants over the age of 76 can only receive up to $25,000 opposed to the $50,000 that may be available to younger applicants. 
  • Fixed Rates: Once you are approved, premiums are guaranteed and coverage will never be altered or canceled due to your age or changes in your health situation. 
  • Cash Value: The policy builds a cash value that you can borrow against to cover emergency expenses for you or your loved ones. 
  • Optional Riders: The Immediate Solution policy provides you with optional riders to access funds for nursing care, as well as accidental death benefits, and children’s and grandchildren’s benefits. 
  • No Waiting Period: While Transamerica does offer two other burial insurance policies, Immediate Solution offers the best balance between low premiums, a higher death benefit amount, and no waiting period regardless of your age or health condition.

Foresters Financial: PlanRight Whole Life Insurance

Best for Member Benefits

In business for over 140 years, Foresters Financial is a highly respected insurance company that offers competitive burial insurance plans complete with valuable member benefits. It offers competitive pricing and accepts a number of pre-existing conditions, including mental health conditions, diabetes, and heart issues. In addition to its respected products, the company is also well known for its philanthropic mission and is heavily involved with charities like the Ronald McDonald House and the Red Cross.

Forester Financial also offers members some unique benefits to assist with more than final expenses. All burial insurance customers have access to a variety of benefits including scholarships, emergency assistance programs, a granting program, financial counseling, orphan benefits, and family fun events. They’re available to all customers at no extra charge, regardless of what policy is purchased.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
PlanRight Whole Life Insurance 50-85 No Medical Exam — Some Health Questions $2,000-$35,000 Dependent On Final Approved Plan 121


The application process for PlanRight Whole Life Insurance does not require you to undergo a medical exam. It does involve a quick interview about your health history, a check of your prescription history, and access to your Medical Information Bureau file. This is all done electronically and only takes a few minutes to complete. Depending on your answers to the questions and your medical history, you’ll be matched with one of three versions of PlanRight policy. The plan you are approved for will determine your benefit amount, your premiums, and whether or not there is a waiting period.

Plan Information

  • Fixed Rates: Regardless of your policy, premiums with Forester Financial are always guaranteed – your age or health situation will never cause the premiums to rise or the policy to be canceled. You’ll have lifetime coverage up to the age of 121 – if you live past 121, you’ll be paid the full benefit amount. 
  • Illness Loan: The insurance policy includes a terminal illness loan option, providing an interest-free loan of up to 75% of the total loan amount to any member who becomes terminally ill. 
  • Accidental Death Rider: The burial insurance policy comes with a common carrier accidental death rider at no additional charge which provides beneficiaries with an amount equal to double the policy’s normal death benefit if you die of injuries that you sustain while riding as a passenger on a “common carrier” vehicle, such as a plane, bus, ferry, or a train.

Colonial Penn: Permanent Whole Life Insurance

Best Customer Service

Colonial Penn is a respected insurance company with a reputation for providing outstanding customer service. When you get a policy with Colonial Penn, you receive an in-depth guide to your policy along with a customer service guide. In this document, you’ll receive a special toll-free number that will put you in touch with a policy specialist who can assist you with any questions or concerns. You’ll also have access to an online portal where you can make payments and view your account, as well as full access to email support. A comprehensive plan combined with outstanding customer service gives Colonial Penn’s Permanent Whole Life Insurance plan a spot on our list.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Permanent Whole Life Insurance 40-75 No Medical Exam — Some Health Questions Up to $50,000 None 121


Colonial Penn’s Permanent Whole Life Insurance policy is available to seniors throughout the United States except for those residing in the state of New York. There’s no medical exam needed to qualify, but the application process does require you to answer some basic health questions. Depending on your answers to these questions, an underwriter may contact you for more information before an approval decision is made.

Colonial Penn allows you to apply for this policy starting at age 40, which is considerably younger than many other policies. This makes it a great option if you’re seeking to invest in burial insurance at a younger age. And after the first year, the policy starts building a cash value that you’re able to borrow against at a guaranteed rate. With benefit amounts available in increments up to $50,000, it also has one of the highest death benefits of any policies on our list.

Plan Information

  • Fixed Rates: Once approved, your premiums are locked in and will never increase regardless of your age or health condition. Coverage lasts throughout your lifetime and will never be canceled due to age or changing circumstances, so long as you continue making timely premium payments. 
  • Annual Payment Incentive: The company offers a variety of convenient payment options for premiums, including monthly, quarterly, semi-annual, or annual. Those who choose to pay annually will receive one month of their coverage for free, making it a good option for budget-conscious seniors looking to save money where they can. Of course, the premiums are still determined by your age and gender at the time of your application, so this discount doesn’t necessarily mean it will be the cheapest plan available to you, but it does provide some flexibility that other plans do not.
  • 30-Day Satisfaction Guarantee: This policy is covered by the company’s 30-day satisfaction guarantee. If you decide that the coverage isn’t for you within 30 days, you can return your insurance documents and receive a full refund, no questions asked.

Fidelity Life: RAPIDecision Final Expense

Most Experienced Provider

Founded in 1886, Fidelity Life provides insurance products with the goal of allowing middle-class Americans to obtain the peace of mind that comes with comprehensive insurance without paying high premiums. The company utilizes cutting-edge, patented technology to provide innovative solutions for its wide customer base, allowing for a quality customer experience. As one of the most experienced life insurance providers in the industry, customers can rest assured that they’re working with a reliable, trustworthy company.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
RAPIDecision Final Expense 50-85 No Medical Exam — Health Questions — Database Check $5,000-$35,000 None 121


In order to qualify for the Final Expense policy, applicants must be between the ages of 50-85. There is no medical exam required. But applicants must be willing to answer a series of simple health questions and provide information for a medical database check. While you can still be approved for this plan with some pre-existing conditions, Fidelity Life does not recommend this plan for anyone with serious health problems or high-risk factors.

Plan Information

  • Coverage: Policy amounts are available in increments from $5,000 – $35,000.
  • Fixed Rates: Your premium and coverage amount is guaranteed for the life of the policy, so there’s no need to worry about age or fluctuating health factors leading the company to cancel or increase your rates. 
  • Cash Value Rider: Starting in the third year of your policy, you’ll also have a rider that allows you to access the cash value of your policy at no additional cost. You can use up to 50% of the value as a loan to cover any personal expenses for you or your loved ones before your death. However, this expires after you turn 85. 
  • Guaranteed Issue Policy: For applicants who are unable to get approved for the Final Expense policy, Fidelity Life also offers a Guaranteed Issue policy. With no exam or health questions, anyone between the ages of 50-85 can automatically be approved. However, this policy only offers benefit amounts up to $20,000, requires higher premiums, and has a 3-year waiting period. While it can be beneficial for those with pre-existing conditions, the Final Expense policy is a superior option. 
  • No Waiting Period: Once you are approved, the coverage begins immediately with no waiting period. 

Gerber Life: Guaranteed Life Insurance Plan

Best in Customer Satisfaction

While Gerber might be best known for its famous logo featuring the Gerber Baby, the company has been a leader in the insurance industry since 1967. Gerber provides a range of insurance products for people of all ages, and currently has customers across the United States and Canada. Gerber is highly regarded by its customers who cite the excellent customer service, ease of doing business, and overall value as some of the company’s best features.

Gerber Life has some of the highest customer satisfaction rates among guaranteed life insurance companies, with 80% of customers stating they would recommend the company based on their personal experience. This can come as a relief to many people who dread dealing with confusing and complicated processes in the insurance world. Because of the company’s excellent reputation and the high customer satisfaction rate, the Gerber Life Guaranteed Life Insurance Plan gets a spot on our list.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Guaranteed Life Insurance Plan 50-80 No Medical Exam — Some Health Questions $5,000-$25,000 2 Years 121


As a guaranteed life insurance plan, applicants only need to be between the ages of 50 – 80 to qualify for the policy. There are no medical exams or lengthy health questionnaires to fill out, and most people are able to complete the application in only a few minutes.

Plan Information

  • Coverage: Applicants are able to choose the amount they want for their policy in increments between $5,000 – $25,000. This fairly wide range means that the policy is a good choice regardless of what you anticipate your final expenses being.
  • Cash Value: Gerber’s policy builds cash value that you can borrow against as the loan ages. The longer you own the policy, the more cash value the policy builds, which can help you cover expenses that may arise before your death. 
  • Fixed Rates: The premium rates and coverage amount are both locked in as soon as you’re approved for the policy. Your rates will never change unless you decide to increase coverage or alter the frequency of your payments. Gerber will never cancel coverage or change your benefit amount as you age or when your health changes. 
  • 30-Day Satisfaction Guarantee: This plan is protected by Gerber’s “free look” satisfaction guaranteed policy. Customers have 30 days to evaluate the product and decide if it’s a good fit. If you change your mind within the 30-day time span, you can cancel and receive a full refund of any premiums paid.

Sagicor Life: Sage Whole Life

Best for Quick Application

Sagicor Life is one of the best-rated insurance companies in the country. The company’s Sage Whole Life policy is a comprehensive plan that builds cash value. Similar plans typically require applicants to have a phone interview with an agent. But Sagico uses an innovative Accelewriting® process that’s able to give you a decision in minutes, earning the policy a place on our list.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Sage Whole Life 18-65 automated underwriting — Over 65 Fully Underwritten Process No Medical Exam — Some Health Questions $25,000-$250,000 None 121


The policy is available without a medical exam for people living in qualifying states between the ages of 18 – 65 in amounts between $25,000 – $250,000. While the cutoff age for qualification is younger with this policy than it is on others, it’s still a notable option for younger applicants who are interested in obtaining higher amounts of coverage. Most other no-exam whole life options do not have options for this much coverage. However, applicants of any age can still obtain coverage. For applicants over the age of 65, the process is fully underwritten and will require more health questions and interviews with agents.

Plan Information

  • Fixed Rates: Once you’re approved for coverage, your premiums are locked in and will never rise with age or when health issues arise. This ensures that your coverage will always remain affordable.
  • Cash Value: The policy accumulates a cash value that you can borrow against to cover any expenses before you pass away. 
  • Quick Automated Underwriting: Sagicor Life is also particularly notable for their quick application process. The Accelewriting® process is an automated underwriting program that completely eliminates the need for in-person meetings and phone interviews, which are common with policies of this size. 
  • Optional Riders: This policy includes an Accelerated Benefit Insurance Rider at no additional charge, which allows you to access your benefit proceeds if you have a terminal illness, and can help you pay for medical bills or to continue providing for your loved ones. Other optional riders available include an Accidental Death Benefit Rider, a Children’s Term Rider, and a Waiver of Premium Rider. These optional riders allow you to customize your policy to best fit your needs and the needs of your loved ones. 

Americo: Eagle Premier Series

Best for Quick Coverage

Founded in 1946, Americo has been providing financial services and insurance products for over 70 years. It offers a strong portfolio of life insurance policies in particular, including several whole life insurance policies.

The quick application process is similar to that of other companies. But in addition to simplifying the process, Americo also has one of the quickest wait times between the time of approval and the time coverage begins. Once approved, there’s no waiting period for the policy, so full coverage starts from day one. This can provide much needed reassurance for anyone who is worried about passing away within the first few years of purchasing the plan. Americo is one of the few companies that provides immediate coverage for people with COPD and other high-risk health conditions.

Eligible Ages Approval Process Death Benefit Amount Waiting Period Policy Maturity
Eagle Premier 50-85 (nonsmoker) — 50-80 (smoker) No Medical Exam — Some Health Questions $5,000-$30,000 None Never Expiers


To qualify for this policy, you must be a nonsmoker between the ages of 50 – 85. If you do smoke, you must be between the ages of 50 – 80. While there is no medical exam required, there are some simple health questions on the application that will determine your eligibility. The quick-issue application process means that approved applicants get their coverage quickly – usually within 48 hours of approval. Americo does not provide coverage to residents of New York.

Plan Information

  • Coverage: You can choose your benefit amount in increments between $5,000 – $30,000. The wide range means you don’t need to worry about being forced into a larger policy when you’re only seeking a low amount of coverage. 
  • Fixed Rates: Your premiums and coverage are guaranteed. Americo will never raise your rate or alter your coverage due to age or changing health situations. 
  • Cash Value: The policy builds cash value after the specified amount of time, allowing you to borrow against it to cover any financial needs that may arise while you’re still alive. 
  • Riders: The Eagle Premier Series plan includes an Accidental Death Benefit Rider and an Accelerated Benefit Payment Rider at no additional cost. There is also a Child and Grandchild Term Rider option available that you can choose to purchase.
  • Multiple Eagle Series Plans: In addition to the Eagle Premier plan, Americo offers another version of the product – Eagle Guaranteed. If you don’t qualify for Eagle Premier, you may be able to get coverage through the guaranteed plan. Eagle Guaranteed has a graded death benefit with a three-year waiting period and coverage amounts of $5,000 – $10,000 for individuals ages 50 – 80. The Accidental Death Benefit provision is included in this plan but no other riders are available.

Buyer’s Guide

Finding the right burial insurance plan can be a daunting task. There are many different companies and policies to choose from, as well as confusing terminology to decipher. In this buying guide, we’ll show you some simple steps to take that can help you decide if burial insurance is the right option for you, and how to select a policy that fits your needs.

Step 1: Determine if Burial Insurance is Right for You

Burial insurance is an excellent way to provide for your loved ones after you’ve passed on, but isn’t for everyone. If you’re able to start saving far in advance, you may be able to set aside your own money to cover your final expenses. You may also want to investigate pre-paid funeral options that allow you to pay for your cemetery plot and services in advance. However, both of these options cost money upfront while burial insurance only requires you to invest a small amount of money each month. Evaluate your financial situation to decide what option makes sense for you.

Step 2: Understand Your Needs

If you decide that burial insurance is the right option for you, you’ll need to determine exactly what you need from a policy to cover your expenses and provide for your loved ones. The benefit amount and additional riders you can receive will vary depending on the company and policy. If you aren’t planning on having a large funeral and don’t expect to leave a lot of debt behind, a smaller policy to cover only the essentials might be right for you. But if you are anticipating a lot of medical bills, an expensive funeral, credit card debt, or would simply like to leave your beneficiaries more money, you’ll want to look into policies that offer a higher death benefit and even other member benefits.

Step 3: Analyze Your Monthly Budget

You need to keep up with ongoing premium payments to keep your burial insurance policy. While some plans may give discounts for paying annually, you’ll still need to know exactly how much you can afford to spend now and in the future. Keep in mind that your income will likely decrease as you age, so premiums will need to be something you can afford for the long run. Premium rates can be as low as $11 per month, but can also be as high as $100 or more per month.

Step 4: Know What You Qualify For

While guaranteed acceptance plans will accept anyone within a particular age range, other plans will require you to meet certain health criteria to get approved. While none of the policies on this page will require you to get an exam for approval, some will require that you fill out health questionnaires and submit to prescription checks and health record checks.

If you admit to having certain preexisting conditions, are likely to pass away within the next few years, or have health records indicating that you’re being treated for a certain condition, you may not be approved for some plans. If you know that you’re unlikely to be approved for certain policies before you begin your search, you can focus your efforts on researching guaranteed acceptance plans that are more likely to approve you. But if you’re in relatively good health, you can focus you search on policies that have simple checks, since they tend to have slightly lower premiums.

Step 5: Compare Policies and Ask Questions

When it comes to burial insurance, there’s no universal best option available. It’s important to take your time reviewing the various companies, their policies, and what they have to offer before making your final decision. While some policies will allow you to apply online without speaking to an agent, it’s best to call the company to clear up any questions you might have and to get a feel for their customer service practices. Before selecting a policy you should know:

  • Waiting Period: Find out if there’s a waiting period on the policy or if the full benefit amount will be available to your beneficiary immediately.
  • Guaranteed Premiums: Many policies offer locked-in premiums that will remain the same for your entire life regardless of your age or health situation, but that isn’t always the case.
  • Maturity: Many whole life policies can still mature, although they’re designed so that it’s unlikely you’ll outlive that date. But you should still ask about what happens if you outlive your policy.
  • Optional Riders: Some policies allow you to add on riders that can provide additional benefits for accidental death, terminal illness, and even coverage for your children. Find out if these are available and how much they would cost to add on if you’re interested in that coverage.
  • Discounts: Most policies allow you to make premium payments on a monthly basis, but some companies also provide discounts to customers who choose to pay annually or semi-annually. While these discounts might seem small at first, they can save you a lot of money over the years.
  • Additional Fees: In addition to your monthly premium payments, many companies require you to pay an annual administrative fee. You should know exactly how much this fee is and when you’re required to pay it.

Step 6: Inform Your Beneficiary

Once you’ve decided on a policy, it’s important to inform your beneficiary. At a minimum, they’ll need to know that they are a beneficiary and what company you have your policy with. But it’s best to give your beneficiary a copy of the policy itself or to tell them exactly where to find it once you pass. You should also discuss what expenses the policy will likely cover, so no one is left with a surprise when it comes time to use them. This will help avoid confusion and stress in what will already be a difficult time for your loved ones.

How to Make Burial Insurance More Affordable

Burial insurance is a great investment to make when it comes to protecting your loved ones from the financial burden of end-of-life expenses. But adding another monthly payment to your life when you’re already living on a tight budget isn’t always feasible for many seniors. However, the cost shouldn’t discourage you from shopping for a policy, as the cost of the premium is typically much more manageable than paying for those expenses out of pocket.

Plus, there are several ways to make burial insurance more affordable than it might initially seem. Below, we’ll explore some of the best strategies you can your to make your policy more affordable.

Shop Around For Different Policies

As with any major purchase, shopping around before you make a decision will lead you to the best prices. When you’re shopping for a burial insurance policy, don’t buy the first one you find—even if it fits your needs. 

There are many burial insurance policies available from hundreds of providers, each of which will have a varying monthly premium. Some of those premiums will be more affordable than others that offer the same amount of coverage. 

To find the best rates, we recommend: 

  • Considering at least 10 different policies before making a decision
  • Calling the providers you’re considering to see if there are any discounts or savings available that weren’t listed on the website
  • Thoroughly reading reviews and guides to find the most affordable options on the market

Don’t Shy Away From the Policies Requiring a Medical Exam

There are many policies on the marketplace that don’t require you to get a medical exam or answer in-depth medical questions to get coverage. These policies are an excellent option for seniors who need a policy quickly or who wouldn’t otherwise qualify for life insurance. 

The downside is that these easy-apply policies are generally much more expensive than the others. This is because of liability. If you undergo a medical exam and get a clean bill of health from your doctor, the insurance provider will view you as someone more likely to continue paying that premium for an extended amount of time. Without that medical history and exam, the insurance provider has no way to gauge your health and charges a higher premium in case you’re at high risk. 

Have a Pre-Existing Condition? You May Still Qualify

Even if you have a pre-existing condition, you can still qualify for burial insurance—in some cases even without a waiting period. Some common pre-existing conditions that don’t disqualify you from burial insurance policies include: 

  • High blood pressure
  • Bipolar disorder
  • Lupus
  • Seizures
  • Sleep apnea
  • Depression

Specific guidelines regarding preexisting conditions vary by provider, so be sure to call if you have any specific questions or concerns.

Explore Payment Options

Depending on the insurance provider, you may be able to save money by taking part in an alternative payment method. While the availability of these discounts and the amount you can save varies from company to company, some common payment plan discounts include:

  • Paying the year’s entire premium in a single lump sum
  • Splitting the annual premium into two payments
  • Enrolling in automatic payments

Even if you don’t see these options listed on the provider’s website, give them a call and ask. 

Select a Policy With Guaranteed Premiums

Many providers offer burial insurance with guaranteed premiums. Guaranteed premiums are an excellent option if you’re a budget-conscious shopper as your premiums will not increase from one year to the next. 

Why Guaranteed Premiums?

Guaranteed premiums mean that regardless of how long you live, even if your health situation deteriorates, your premiums will remain the same as they were on day one of your coverage. Some insurance plans even offer a paid-up feature where you no longer pay a premium after your reach 95 years of age. 

If you select a policy that doesn’t offer guaranteed premiums, you may end up paying significantly more in the years to come, especially if you face a serious medical issue like a heart attack or stroke. 

Opt For a Smaller Policy

If you’re on a tight budget, opt for a burial insurance plan with a smaller benefit amount. While it’s important to keep your needs and the total cost of the funeral in mind, if you select a large benefit amount, you’ll be paying a higher premium. 

Some policies like Mutual of Omaha’s Guaranteed Whole Life Insurance offer benefit amounts of as little as $2,000. If you’re planning a small funeral or simply don’t have the means to invest in a larger policy, plans like this can be a great, affordable option.


  • How do I know if I need burial insurance?
  • How are premiums determined?
  • Why do some life insurance policies require a medical exam?
  • Can I choose more than one beneficiary?
  • What happens if I stop paying my premiums?
  • When is the best time to buy burial insurance?
  • Should I buy a policy online or speak with a representative to purchase a policy?