7 Best Burial Insurance Companies in 2021

Pay for your own funeral and burial costs with a final expense policy from one of our top-rated insurers.
Katia IervasiJun 30, 2021

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If you want to buy life insurance purely to cover your funeral costs, medical bills and other end-of-life expenses, look into burial insurance. Also known as final expense insurance, these policies are designed for older adults who need only a small amount of coverage, and not all insurers offer them.

To narrow down the list of the best burial insurance policies, our experts analyzed policy features, age and state availability, and added value — such as free riders. We also looked at payment options and the amount of coverage you can buy, which typically starts at $1,000 and maxes out at $50,000 for this type of life insurance.

The best burial insurance for seniors


Policy details


NerdWallet rating 

Policy name: Immediate Solution Life Insurance.

Eligibility age range: 15 days old to 85.

Coverage amount: $1,000 to $50,000.

Availability: All states.

Our take: Transamerica’s policy makes our list because it provides burial insurance with no waiting period. Usually, final expense policies don’t pay out if you die of natural causes within the first two years of taking out a policy — instead, the insurer will reimburse your loved ones for the premiums you paid. But with Transamerica’s Immediate Solution policy, you’re 100% covered as soon as it goes into effect, which is typically the same day.

The insurer sells policies worth $1,000 to $50,000, so you can buy as little or as much life insurance as you need. Just know that if you apply between the ages of 76 and 85, you can buy a maximum of $25,000 in coverage.


NerdWallet rating 

Policy name: Guaranteed Acceptance Life Insurance.

Eligibility age range: 50 to 80.

Coverage amount: $2,500 to $25,000.

Availability: All states.

Our take: Open to AARP members as part of a partnership with New York Life, this policy is a type of group life insurance. You’re guaranteed to be accepted as long as you’re an AARP member who meets the age requirements, and coverage lasts your entire life, though you’ll stop paying monthly premiums at age 95.

AARP also allows members’ spouses who are ages 45 to 80 to apply for a policy.


NerdWallet rating 

Policy name: Guaranteed Issue Whole Life Insurance.

Eligibility age range: 50 to 80.

Coverage amount: $5,000 to $25,000.

Availability: All states except NY and ME.

Our take: AIG’s policy stands out for its accelerated death benefit riders, which are included at no extra cost. If you’re diagnosed with a chronic illness, the insurer will refund you for all the premiums you’ve paid. And if you’re diagnosed with a terminal illness, you can access up to 50% of your policy’s payout while you’re alive.


NerdWallet rating 

Policy name: Guaranteed Acceptance Life Insurance.

Eligibility age range: 50 to 85 (50 to 75 in NY).

Coverage amount: Up to $50,000.

Availability: All states.

Our take: With this whole life policy, all applicants 50 to 85 are accepted — no questions asked. After a year, your policy will start building cash value, and when you’ve accumulated enough, you can take out loans against your policy.

The price of your policy won’t change, and Colonial Penn has flexible payment options. You can choose to pay your premium monthly, quarterly, semiannually or annually.


NerdWallet rating 

Policy name: Guaranteed Whole Life Insurance.

Eligibility age range: 45 to 85 (50 to 75 in NY).

Coverage amount: $2,000 to $25,000 ($5,000 to $25,000 in WA).

Availability: All states except MT.

Our take: Most burial insurance policies are open only to those 50 and older, but Mutual of Omaha allows 45-year-olds to buy coverage in all states it serves but New York. This means people can get a policy at a younger age, when rates are likely to be cheaper. You can buy as little as $2,000 in coverage, making this a good option for those who don’t need too much life insurance. The insurer says it pays 85% of claims within 24 hours, which can help your loved ones cover your funeral costs and any other immediate expenses when you die.


NerdWallet rating 

Policy name: PlanRight Whole Life Insurance.

Eligibility age range: 50 to 85.

Coverage amount: $5,000 to $35,000.

Availability: All states.

Our take: Foresters Financial sweetens the deal by including two rare riders free of charge. The Family Health Benefit Rider can cover the cost of an ambulance or similar expenses if your health suffers due to catastrophic weather or a natural disaster. And the Common Carrier Accidental Death Benefit Rider offers an extra payout to your beneficiaries if you die while riding as a passenger on a plane, bus or train.


NerdWallet rating 

Policy name: Final Expense Insurance.

Eligibility age range: 50 to 80 (50 to 75 in NY).

Coverage amount: $10,000.

Availability: All states except MA.

Our take: If customer support is a top priority for you, explore State Farm’s burial insurance policy. While the insurer offers only $10,000 in coverage, State Farm consistently ranks No. 1 or No. 2 on J.D. Power’s customer satisfaction list for life insurance.

The policy earns cash value over time, and you can draw from that fund during your lifetime. Since State Farm is a mutual policy, your policy might also pay out dividends. On your end, you can opt to pay the premium monthly or annually.

NerdWallet rates insurers at the company level, not the policy level. This means our star rating reflects the company as a whole, and not its burial insurance policy specifically. These companies are presented in no particular order.

Alternatives to the best burial insurance

Final expense policies are designed to help you cover the costs of your own funeral and burial, but they’re expensive and capped at small amounts so they don’t suit everyone. If you crunch the numbers and decide you need more life insurance, you can apply for a traditional term or whole life insurance policy.

Frequently asked questions

What is a burial insurance policy?

Burial policies cover end-of-life expenses, like funerals or lingering medical bills. These policies are relatively small, usually in the $1,000 to $50,000 range, which means they have limited application beyond those final expense needs.

How much is burial insurance?

Burial insurance is fairly inexpensive overall, but more expensive per dollar of coverage than many other life insurance policies. For instance, a 50-year-old woman might pay about $1,000 a year for $25,000 in burial insurance, according to data from Quotacy, a life insurance brokerage. To compare, a $250,000 whole life policy would cost her about $3,800 — almost four times as much per year for 10 times as much coverage.

What is the cheapest burial insurance?

The cheapest burial insurance will depend on your needs and health. While many policies can be issued with no medical questions or exams, they're usually much more expensive. The best way to get cheap coverage is to shop around.

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