Final Expense Insurance for Seniors: Ultimate Guide (2022)

Here are the best information about Burial insurance for seniors over 80 voted by users and compiled by us, invite you to learn together

Life insurance is a popular, helpful, and needed financial tool to protect loved ones from financial hardship.

With average funeral costs between $8,000 – $12,000, this is a significant financial burden to ask your family members to take on. However, some insurance plans provide the financial resources needed during grief.

When looking into life insurance policies, there are many options, and it is easy to get overwhelmed. Fortunately, there is a life insurance program designed specifically for seniors.

Quick Links

  • Final Expense Insurance Basics
  • Pros and Cons
  • How Much Does it Cost?
  • 3 Best Companies
  • FAQ’s
  • How to Apply

What Is The Best Life Insurance For Seniors?

Final expense is the best life insurance for seniors because coverage never expires, and the premium never increases. This whole life insurance comes in smaller death benefit sizes ($2,000 – $50,000), making the premiums affordable for all seniors. Applicants must answer a few simple health questions to qualify for immediate coverage, and no medical exam is required.

Final expense coverage is designed for seniors to make a simple and low monthly payment to receive permanent benefits. Many companies will provide coverage for seniors over 80.

The death benefit is flexible and can be used on anything the beneficiary deems necessary. The most common items the money goes towards are funeral, burial, cremation, medical bills, or other outstanding debt.

Pros and Cons of Final Expense Insurance for Seniors

Everyone has a different goal with life insurance, so make sure permanent funeral insurance is worth it for you.



Cheap coverage Slightly more expensive than a term plan Rates never increase Lower coverage amounts than other products Coverage never expires Living a long time could lead to overpaying No medical exam Builds a cash value over time The beneficiary receives a check quickly The payout can be used for anything

How to get Burial Insurance with No Waiting Period for Seniors

Seniors must qualify for funeral insurance with no waiting period, but it is more common than you might think. There is no medical exam, just a simple questionnaire on the life insurance application. Some companies are more lenient than others, so the key to qualifying is to find a plan that aligns with your medical history.

What is Guaranteed Acceptance for Seniors?

Policies that advertise guaranteed acceptance ask no medical questions and accept everyone, regardless of health. Guaranteed issue plans will be more expensive because the insurance company assumes you cannot qualify for an immediate coverage plan. Several companies offer this guaranteed coverage, but it is not best for all seniors.

Why You Should Avoid Term Insurance as a Senior

Tread carefully before moving forward with a term plan because it will expire. Common term plans expire at your 80th birthday, which is the case with AARP life insurance.

A whole life policy is best if you intend to cover funeral expenses. If temporary coverage is what you are looking for, a term plan could be perfect for you. It comes down to your goals with the policy and what you want it to cover.

Piggy bank and calculator

Affordable Burial Insurance For Seniors

Health, age, gender, and the death benefit amount are the key considerations determining the cost of life insurance products. The monthly cost can vary greatly depending on these factors, so every senior citizen’s price could be very different.

Seniors Getting Quotes and Buying Online

Getting quotes online is very common. The best way to get a final expense insurance quote is by using the instant online quote tool on this page.

The lower the price, the healthier the applicant will need to be to qualify. Once you have secured your quote, speak with an expert about your plan options. Every person’s medical history is unique, and every company has different underwriting standards.

How Much Does Life Insurance Cost for a Senior?

The average monthly premium for final expense insurance is $25 – $200 for a $10,000 death benefit. This is the average for seniors 50 – 85, but since age, health, gender, and the amount of coverage are all factors in the price you pay, your monthly premium could be more or less than the average.

The price chart below shows funeral insurance quotes. You can expect to pay on the lower end of the price range if you have a simple and healthy medical history. You might be required to pay towards the higher end if you have a complex health history.


Monthly Premium Range
Non-Smoking Rates

Age $10,000 $15,000 $20,000 45 $23 – $34 $32 – $49 $42 – $64 50 $24 – $39 $35 – $57 $45 – $80 55 $28 – $47 $40 – $69 $52 – $103 60 $33 – $54 $48 – $80 $63 – $119 65 $41 – $66 $60 – $99 $79 – $146 70 $53 – $80 $78 – $120 $103 – $177 75 $72 – $116 $107 – $173 $142 – $254 80 $98 – $190 $146 – $283 $194 – $411 85 $136 – $220 $202 – $328 $269 – $436


Monthly Premium Range
Non-Smoking Rates

Age $10,000 $15,000 $20,000 45 $27 – $47 $39 – $68 $51 – $89 50 $31 – $56 $44 – $83 $58 – $110 55 $36 – $61 $52 – $91 $69 – $135 60 $44 – $68 $64 – $101 $84 – $149 65 $56 – $91 $83 – $135 $110 – $199 70 $75 – $106 $110 – $158 $146 – $233 75 $100 – $150 $148 – $223 $197 – $328 80 $140 – $232 $208 – $346 $276 – $461 85 $193 – $312 $288 – $467 $382 – $621

Which Life Insurance Is Best For Seniors

Final expense life insurance is best for seniors because of the flexible and low death benefit options, the permanent features, and affordable prices. It is easy to qualify for, with lenient underwriting requirements and no medical exam. Seniors can take out a policy from home with a simple phone call.

Our industry experts have chosen the companies below, and these providers made our list of best burial insurance for seniors for different reasons. Every recommended life insurance company has a solid financial rating and excellent customer reviews.

Who has the Cheapest Life Insurance for Seniors?

Mutual of Omaha, Aetna, and AIG offer affordable funeral insurance for seniors. However, the price of whole life burial insurance depends on your health, age, and the desired coverage amount. The price is locked in, so the earlier someone takes out a policy, the cheaper it will be.

Best Burial Insurance For Seniors

Mutual of Omaha
Aetna (CVS Health)

Policy Type Whole Life Insurance Whole Life Insurance Guaranteed Whole Life Insurance Applicant Age Range 45 – 85 40 – 89 50 – 80 Waiting Period No No 2-Years Coverage Amount Available $2,000 – $40,000 $2,000 – $50,000 $5,000 – $25,000 State Availability All States (except NY) All States (except NY) All States (except NY) Builds Cash Value Yes Yes Yes Premiums Locked in Yes Yes Yes Health Questions Yes Yes No Guaranteed Acceptance No No Yes

Mutual of Omaha

This company has a superior financial rating and positive customer reviews. Mutual of Omaha has some of the cheapest life insurance for seniors through its Living Promise Level plan.

  • Plan Name: Living Promise Level
  • Age Eligibility: 45 – 85
  • Death Benefit Size: $2,000 – $40,000
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • State Availability: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A+ (superior)


Aetna burial insurance is very senior-friendly as they accept applications for seniors up to 89. They have lenient underwriting and have two plans with no waiting period.

  • Plan Name: Accendo Level
  • Age Eligibility: 40 – 89
  • Death Benefit Size: $2,000 – $50,000 (depending on age)
  • Health Questions: Yes
  • Waiting Period for Benefits: None
  • State Availability: 48 states & DC (excluding MA, NY)
  • A.M. Best Company Rating: A (excellent)


AIG life insurance for seniors is one of the cheapest guaranteed acceptance plans available. Remember that this policy has a 2-year waiting period, and many seniors can qualify for less expensive plans with no waiting period.

  • Plan Name: Guaranteed Issue
  • Age Eligibility: 50 – 80
  • Death Benefit Size: $5,000 – $25,000
  • Health Questions: None
  • Waiting Period for Benefits: 2-years
  • State Availability: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A (excellent)

Senior citizen smiling

Burial Life Insurance For Seniors FAQs

What is the Best Life Insurance for Seniors Over 70?

Burial life insurance is the best option for seniors over 70. This whole life policy is affordable and has permanent benefits making it great for seniors of all ages. With coverage ranging from $2,000 to $50,000, you will find a coverage amount that fits your needs.

What is the Senior Final Expense Life Insurance Program?

Many seniors receive mail promoting a state-regulated senior life insurance program. This information is a misleading marketing tactic used by some life insurance agents. The state regulates all life insurance, so this information is not false, but it is meant to be confusing and generate sales leads. Learn more about these final expense mailers.

Can I Buy Final Expense Insurance for My Senior Parent?

It is common for children to buy coverage for parents or grandparents. However, some guidelines must be followed to have a valid and enforceable contract. There has to be an insurable interest, and the applicant must be involved in the process. This means your parent needs to answer medical questions and sign their name. You cannot get coverage on someone without their consent.

life Insurance Coverage Application

How To Get Funeral Insurance For Seniors

The two main ways to take out a life insurance policy are direct with the insurance provider or with an insurance agency.

Directly with the Company: You might think this is the best way to get cheap coverage, but this is not the case. Some insurance companies contract out their premier products to insurance agencies, making these plans unavailable to their own representatives.

Insurance Agency: Insurance agencies can represent whatever life insurance plans they wish. This means highly rated, and specialized insurance agencies will have access to the ideal policy for your health and budget. This is almost always your best option for finding a great plan structure at the lowest price.

Let a specialized insurance agent take care of the plan and price shopping for you.

Why Willamette Life

Willamette Life specializes in senior life insurance. Working with a highly rated insurance agency will provide the best opportunity to find a top-tier plan that will be best for both price and plan structure.

Final Thoughts chalk board

Final Thoughts About Life Insurance For Seniors

a. Final expense insurance for seniors has excellent benefits, including affordability, a price that never increases, a death benefit that never decreases, and a cash value that builds over time.

b. Regardless of health, all seniors can qualify for final expense life insurance with no medical exam.

c. Other life insurance products can help pay for funeral expenses, but each has drawbacks. To understand the pros and cons of life insurance, speak with a specialized agent.

Related Posts