Best Burial Insurance Companies

Best Burial Insuance Companies

Not all burial insurance plans are built the same. The plans that we team up with do not require a medical examrates never increase, are guaranteed to never expire, build cash value, and you are able to apply over the phone without someone coming to your home.

Who are the best burial insurance companies?

If you find yourself asking that question, you are not alone. USA Life Team will provide you with a breakdown of the top trustworthy companies that will do justice to your legacy.

There are a few things to consider when deciding which burial insurance plan is the best fit for you.

Does the company have a strong financial rating?

A company with a strong financial rating will fulfill its promise on paying out its obligations to your beneficiary. The last thing you want is for your beneficiary to have issues with your claim during this difficult time. We will provide A.M. Best ratings for each company we partner.

Does the plan have a waiting period?

Your health history will determine if they are offering you a plan with a waiting period. There are four types of ratings:

  • Level/Preferred Benefit: No waiting period, immediate coverage from day 1. You will receive the lowest price with this rate class.
  • Graded/Standard Benefit: a 2-year waiting period. If death occurs due to natural causes during the first two years, your beneficiary will receive money back plus interest. Interest ranges from 10%-70%. Accidental death pays in full, with no waiting period.
  • Modified: 2-3 year waiting period. If death occurs due to natural causes during the waiting period, your beneficiary will receive money back plus interest. (10%-20%) Accidental death pays in full, with no waiting period. Most people with recent serious health issues will qualify for this rate class. This rate class is usually the most expensive one. You might consider going with a guaranteed issue policy instead.
  • Guaranteed Issue: a 2-year waiting period. Return of money back to your beneficiary along with 10% interest. This plan is designed to be simpleno health questions to answer, 15 minutes or less to complete the application, and acceptance is guaranteed. Again, this plan may be less expensive than modified rate plans and skip the hassle of answering health questions.
Does my plan expire?

This is extremely critical to know about your plan. A lot of people purchase a low-cost term policy. A term policy will expire within 10-30 years. Depending on your age, you might only qualify for a 10-year term. Americans are living longer and outliving their life insurance plan. On the other hand, whole life/burial insurance will never expire on you. It may cost a bit more but with the cash value feature and peace of mind of not outliving it is a great investment for many.

Top 5 Best Final Expense Life Insurance Companies?

Rank Insurance Company Waiting Period Option? Detailed Plan Information
1 Mutual of Omaha Yes Learn More
2 Aetna Yes Learn More
3 Royal Neighbors of America Yes Learn More
4 AIG/ American General No Learn More
5 Liberty Bankers Life Yes Learn More

Burial insurance policies can be purchased to protect loved ones from paying for funeral costs in the time of their grief. This is a whole-life policy that provides funding for funerals, burials, cremations, and even a memorial for family members who have lost a loved one.

The best insurance company offer affordable plans that provide extensive coverage. These companies offer easy applications, fixed premiums, and the option to get a quote online or by phone. A burial insurance company should have a good reputation for providing excellent customer service and financial stability.

What is the best funeral insurance?

Burial insurance is a type of life insurance that you can only purchase to pay for your funeral expenses, medical bills, and other end-of–life expenses. These policies, also known as final expense insurance are for seniors who only require a limited amount of coverage. Not all insurers offer them.

Our experts reviewed policy features, state availability and added value to narrow down the top-rated burial insurance policies. The amount of coverage that you can purchase, as well as payment options, was also considered. This type of insurance typically costs between $1,000 and $50,000.

Does the company have a strong financial rating?

A company with a strong financial rating will fulfill its promise on paying out its obligations to your beneficiary. The last thing you want is for your beneficiary to have issues with your claim during this difficult time. We will provide A.M. Best ratings for each company we partner.

Does the plan have a waiting period?

Your health history will determine if they are offering you a plan with a waiting period. There are four types of ratings:

  • Level/Preferred Benefit: No waiting period, immediate coverage from day 1. You will receive the lowest price with this rate class.
  • Graded/Standard Benefit: a 2-year waiting period. If death occurs due to natural causes during the first two years, your beneficiary will receive money back plus interest. Interest ranges from 10%-70%. Accidental death pays in full, with no waiting period.
  • Modified: 2-3 year waiting period. If death occurs due to natural causes during the waiting period, your beneficiary will receive money back plus interest. (10%-20%) Accidental death pays in full, with no waiting period. Most people with recent serious health issues will qualify for this rate class. This rate class is usually the most expensive one. You might consider going with a guaranteed issue policy instead.
  • Guaranteed Issue: a 2-year waiting period. Return of money back to your beneficiary along with 10% interest. This plan is designed to be simpleno health questions to answer, 15 minutes or less to complete the application, and acceptance is guaranteed. Again, this plan may be less expensive than modified rate plans and skip the hassle of answering health questions.
Does my plan expire?

This is extremely critical to know about your plan. A lot of people purchase a low-cost term policy. A term policy will expire within 10-30 years. Depending on your age, you might only qualify for a 10-year term. Americans are living longer and outliving their life insurance plan. On the other hand, whole life/burial insurance will never expire on you. It may cost a bit more but with the cash value feature and peace of mind of not outliving it is a great investment for many.

Is burial insurance cheaper than life insurance?

Burial insurance is less expensive than other types of life insurance. This is because it covers only your final expenses. Burial insurance policies typically pay $5,000 to $50,000. It is rare for life insurance to pay less than $100,000, and burial insurance premiums will likely be lower.

Is final expense insurance a good deal?

This is the best economical way to pay for burial costs as well as any other expenses that you may incur in order to provide care for loved ones. If you are unable to get traditional coverage due to your health or age, you may want to consider a final expense insurance plan.

Is Burial Insurance Right For You?

Many people use life insurance to pay for funeral expenses. According to the 2020 Life Insurance Barometer report by industry-funded groups LIMRA, and Life Happens, 84% of insurance policyholders mention final expenses when considering purchasing life insurance.

Burial insurance is a form of life insurance that covers final expenses. Sometimes, it’s called final expense insurance or funeral insurance.

Burial insurance is a policy of whole life insurance that can be purchased in very small amounts (e.g. $5,000 to $25,000. These policies are not for those who are raising children and need life insurance to protect larger obligations such as a mortgage, college tuition or income replacement.

Many older people believe that the only reason they should purchase life insurance is to pay for their funeral. Seniors who need burial insurance are often those with tight budgets, who are sometimes in poor health and who don’t have any savings or life insurance to cover funeral costs.

Best Priced Plan

1) Mutual of Omaha

Mutual of Omaha

 

 

 

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“For more than a century, Mutual of Omaha has been committed to listening to our customers and helping them through life’s transitions by providing an array of insurance and financial products. We are a financially strong, family-oriented company based in the heart of America, with solid, unflinching values. Your peace of mind is our priority.”

Mutual of Omaha (also known as United of Omaha) is a leading household brand that many Americans trust. They provide extremely competitive rates, rest assured that your beneficiaries will be in good hands. They are the most well-rounded burial insurance plan in the industry.

  • A.M Best Rating: A+ (Superior)
  • Date Founded: 1909, Omaha, NE
  • Age group: 45-85 years old
  • Does coverage expire? No
  • Does it build value? Yes
  • Does coverage ever decrease? No
  • Do I need to take a physical? No
  • Do I need to answer health questions? Yes, accept type 2 diabetics.
  • Do they offer a no waiting period plan? Yes, subject to your health.
  • Coverage amount range: $2,000 – $40,000 varies on rate class
  • Can I apply over the phone? Yes
  • How long is the application process? Approximately 25 minutes
  • How long do I need to wait to find out if I was approved? Instantly after applying or 2-3 business days.

Best Plan For Elderly Individuals

2) Aetna

Aetna

 

 

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Everything we do at Aetna starts with our values—a clear, strongly held set of core beliefs that reflect who we are and what you can expect from us. We created our core values together, with guidance from our customers. Our values carry through our thoughts and actions every day, inspire innovation in our products and services, and drive our commitment to excellence in all we do.”

If you are on Medicare, you probably heard of Aetna before. Millions of Americans trust them with their health insurance. They offer super preferred rates with individuals who applied with their Medicare supplement within the last 6 months.

  • A.M Best Rating: A (Excellent)
  • Date Founded: 1853, Hartford, CT
  • Age group: 40-89 years old
  • Does coverage expire? No
  • Does it build value? Yes
  • Does coverage ever decrease? No
  • Do I need to take a physical? No
  • Do I need to answer health questions? Yes, no height/weight question and insulin diabetic friendly.
  • Do they offer a no waiting period plan? Yes, subject to your health.
  • Coverage amount range: $2,000 – $50,000- varies on age group.
  • Can I apply over the phone? Yes
  • How long is the application process? Approximately 20 minutes
  • How long do I need to wait to find out if I was approved? Instantly after applying or 2-3 business days.

Best For Individuals Taking Multiple Medications

3) Royal Neighbors of America

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Our unique mission of insuring lives, supporting women, and serving communities stem from being a fraternal benefit society and an organization with a dual mission of both providing financial protection through life insurance and “neighbor-helping-neighbor” community service.

Royal Neighbors offers exceptional plans and competitive rates with FREE member benefits; dental/vision/prescription discounts and much more. They are one of the most experienced insurance companies out there. They do not have shareholders, which means they are not in the business to make a profit.

  • A.M Best Rating: A (Excellent)
  • Date Founded: 1888, Bluffs, Iowa
  • Age group: 50-75 years old
  • Does coverage expire? No
  • Does it build value? Yes
  • Does coverage ever decrease? No
  • Do I need to take a physical? No
  • Do I need to answer health questions? Yes, accept individuals with multiple medications. They do not check height/weight questions and are very diabetic-friendly.
  • Do they offer a no waiting period plan? Yes, subject to your health.
  • Coverage amount range: $5,000 – $25,000 varies by rate class.
  • Can I apply over the phone? Yes, no electronic signature is required.
  • How long is the application process? Approximately 30 minutes
  • How long do I need to wait to find out if I was approved? Instantly after applying.

Best Guaranteed Issue Plan

4) AIG/ American General

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To be the world’s first-choice provider of insurance and financial services. We will create unmatched value for our customers, colleagues, business partners, and shareholders as we contribute to the growth of sustainable, prosperous communities.

AIG (also known as American General) is a world-class insurance and financial service company. They are another household name and very reputable. AIG offers the best option for anyone with health conditions or an individual who does not want to go through health questionnaires. They offer guaranteed acceptance plans.

  • A.M Best Rating: A+ (Superior)
  • Date Founded: 1919
  • Age group: 50-80 years old
  • Does coverage expire? No
  • Does it build value? Yes
  • Does coverage ever decrease? No
  • Do I need to take a physical? No
  • Do I need to answer health questions? No, guaranteed approval. Great options for someone with HIV, cancer, heart conditions, liver or kidney disease
  • Do they offer a no waiting period plan? No, 24 months waiting period.
  • Coverage amount range: $5,000 – $25,000
  • Can I apply over the phone? Yes, no electronic signature is required.
  • How long is the application process? Approximately 15 minutes
  • How long do I need to wait to find out if I was approved? Instantly after applying.

>Best Option To Convert Rider Into Own Policy

5) Liberty Bankers Life

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“We’re devoted to building life-long relationships. And we’ve done so through world wars, economic highs, and lows, cultural changes, and life’s truly major events — from childhood through graduations, marriage, homeownership, retirement, and beyond.

As your partner, we’re dedicated to bringing a sense of security and peace of mind to all of our customers… for life.”

Liberty Bankers Life has shown a strong history of stability since 1958. This explains their B++ rating with A.M Best. They are also rated A+ with the Better Business Bureau. Liberty Bankers Life is one of the very few companies that allow young adults to plan their burial expenses early, as young as 18. If you add a child/grandchild rider, they can convert it to their own policy when they turn 25, without any medical exam.

  • A.M Best Rating: B++ (Good)
  • Date Founded: 1958, Dallas, Texas
  • Age group: 50-80 years old
  • Does coverage expire? No
  • Does it build value? Yes
  • Does coverage ever decrease? No
  • Do I need to take a physical? No
  • Do I need to answer health questions? Yes, COPD and diabetic friendly.
  • Do they offer a no waiting period plan? Yes, subject to your health.
  • Coverage amount range: $3,000 – $30,000- varies by rate class.
  • Can I apply over the phone? Yes
  • How long is the application process? Approximately 15 minutes
  • How long do I need to wait to find out if I was approved? Instantly after applying or 2-3 business days.

best burial insurance companiesBurial insurance policies can be purchased to protect loved ones from paying for funeral costs in the time of their grief. This is a whole-life policy that provides funding for funerals, burials, cremations, and even a memorial for family members who have lost a loved one.

The best insurance company offer affordable plans that provide extensive coverage. These companies offer easy applications, fixed premiums, and the option to get a quote online or by phone. A burial insurance company should have a good reputation for providing excellent customer service and financial stability.

What is the best funeral insurance?
Burial insurance is a type of life insurance that you can only purchase to pay for your funeral expenses, medical bills, and other end-of–life expenses. These policies, also known as final expense insurance are for seniors who only require a limited amount of coverage. Not all insurers offer them.

Our experts reviewed policy features, state availability and added value to narrow down the top-rated burial insurance policies. The amount of coverage that you can purchase, as well as payment options, was also considered. This type of insurance typically costs between $1,000 and $50,000.

Is burial insurance cheaper than life insurance?
Burial insurance is less expensive than other types of life insurance. This is because it covers only your final expenses. Burial insurance policies typically pay $5,000 to $50,000. It is rare for life insurance to pay less than $100,000, and burial insurance premiums will likely be lower.
Is final expense insurance a good deal?
This is the best economical way to pay for burial costs as well as any other expenses that you may incur in order to provide care for loved ones. If you are unable to get traditional coverage due to your health or age, you may want to consider a final expense insurance plan.
Is Burial Insurance Right For You?
Many people use life insurance to pay for funeral expenses. According to the 2020 Life Insurance Barometer report by industry-funded groups LIMRA, and Life Happens, 84% of insurance policyholders mention final expenses when considering purchasing life insurance.

Burial insurance is a form of life insurance that covers final expenses. Sometimes, it’s called final expense insurance or funeral insurance.

Burial insurance is a policy of whole life insurance that can be purchased in very small amounts (e.g. $5,000 to $25,000. These policies are not for those who are raising children and need life insurance to protect larger obligations such as a mortgage, college tuition or income replacement.

Many older people believe that the only reason they should purchase life insurance is to pay for their funeral. Seniors who need burial insurance are often those with tight budgets, who are sometimes in poor health and who don’t have any savings or life insurance to cover funeral costs.

Choosing the Best Burial Insurance Companies

Choosing the best insurance company can be a daunting task. The key is to define your needs and narrow down the field of companies that best match those criteria. To help you narrow down your search parameters, consult the buyer’s guide. Here are some tips to help you find the best policies. You can read on to learn more about burial insurance and the different types of life insurance. AARP has been around for over 70 years and offers a variety of quality plans at low rates.

AARP offers affordable burial insurance. Their policy does not require a doctor’s exam. AARP offers a $50,000 policy with no medical exam, and this company received fewer complaints from consumers than the average insurance company. AIG is a great choice if you are concerned about your financial integrity. It actually received the fewest consumer complaints from the National Association of Insurance Commissioners. These facts will help you choose the right provider.

AIG recently celebrated its 100th anniversary. Their longevity in the industry enables them to beat their competitors. AIG is well-known for its financial integrity and customer satisfaction. AIG has over 90 million customers around the world and is an expert in handling insurance claims. AIG’s rates and customer service are excellent. To find the right policy for you, you can compare policies from different companies.

Mutual of Omaha, also known as United of Omaha, is a trusted household name that many Americans know and trust. You can rest assured that your beneficiaries are in good hands with them because they offer very competitive rates. They offer the best burial insurance plan.

Aetna is a brand you may have heard of if you are on Medicare. They are trusted by millions of Americans for their health insurance. They offer extremely preferred rates to those who have applied for their Medicare Supplement within the past 6 months.

What are the minimum age requirements for burial insurance?

It is important to understand that different minimum ages are required by the best insurance company. The minimum age for funeral insurance providers is usually twenty-five, which is the average age. You should also read the fine print before you purchase final expense insurance policies. In addition, make sure you choose the best policy for your needs and your family. If your parents are over 50, they may be able to pay for a higher-quality burial.

The best insurance company provides affordable coverage and the best quality. Although all companies offer the same level of coverage, there are differences. The minimum age limit and age limits vary, as do the premiums. In addition, the final expense insurance will be less expensive than a traditional life insurance policy. Some carriers have a lower minimum age, while others have higher premiums. If you have any concerns about your health, it’s best to consult your doctor.

You should also be aware of final expense insurance benefits. Some final expense policies may have a waiting period before the death benefit can be received. Most of these policies have a two-year waiting period. If you die within these two years, you won’t receive your full death benefit. However, if you are killed in an accident, you will still be covered. All fifty states except Alaska offer most carriers. You can pick the best policy based on its quality and services.

Some of the best final expense insurance companies will have different policies. You can also look for a company that specializes in this type of policy. If you are over 50, a policy that lasts at most one year is recommended. Although these policies may not be as flexible as other types of insurance, they are still worth looking at. These policies can be used to remember loved ones and save money on funerals. They are cost-effective and can even offset the final expenses.

What is the best funeral insurance?

There are many types of funeral insurance policies. However, you should look for companies that offer a combination of different coverage options and low premiums. Sagicor offers three different rate classes, while most other companies only offer one. Choosing a policy with more rating classes will lower your insurance premiums. In addition, Sagicor offers a No Lapse Universal Life policy, which allows you to purchase up to $25,000 in benefits and never expires. A no-lapse Universal Life policy also covers you if you develop a chronic illness.

How will you pay for the funeral?

The preneed or pre-paid funeral insurance plan allows you to set aside funds to pay for a funeral before you pass away. These policies protect your family financially so that they do not have to worry about the costs of your loved one’s funeral. Preneed insurance typically covers burial services, church services, and standard funeral home services. Some policies even protect your loved ones from inflation. The cost of these policies ranges from $10,000 to $25,000 and covers basic services at a funeral home. These policies are generally easy to obtain and can be accepted within a couple of days.

Some insurance companies market policies that increase the premiums monthly over time. Buying a policy with a fixed monthly rate is the best option for people with fixed incomes. Otherwise, their premiums will rise and their coverage will terminate before their death. You may also want to consider policies with a graded death benefit period. The graded death benefits period can impact your family’s financial future. You’ll need to find a policy that will cover your final expenses, including your funeral.

How much is burial insurance really worth having?

The best funeral insurance is the one that offers the most coverage for your final expenses. The price of the policy is the most important factor when determining the value of the coverage. Make sure you read the fine print when choosing a policy. Some companies offer pre-paid funeral plans that include a graded death benefit period. While it may not seem like the ideal plan for your family, it can protect your family’s financial future and give your family peace of mind.

While you’re searching for the best funeral insurance, be sure to check out quotes from different companies to find the best one for your needs. You’ll be required to provide personal information and medical history to qualify for coverage. Some policies will even require you to provide a monthly premium amount. Then, choose the best policy for your family. A funeral policy that covers these three elements will be the most affordable one for you.

Depending on your circumstances, a pre-need funeral insurance policy is the most affordable option for your needs. These policies allow you to set aside funds to cover your funeral, and they’ll protect your family’s finances in case of your death. They usually cover basic services, as well as burial.

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We want to help you protect your loved ones with a life insurance policy that’s not only easy to get, but affordable as well. Our agents are happy to answer any questions you may have and make the process as simple as possible. We build you a personalized plan that you can afford.