Countless carriers claim they are the best funeral insurance company. However, this is not always the case. You should closely review each company and plan before purchasing burial insurance for seniors.

The best final expense insurance companies are highly rated financially, provide excellent policy structures, and come at an affordable price.

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Who Has The Best Burial Insurance?

The best burial insurance companies are Aetna, Mutual of Omaha, Royal Neighbors of America, AIG, and American Amicable. Depending on your health, one of the five companies will be a great option. These final expense life insurance providers have excellent financial ratings and customer reviews.

Insurance Company Best For 2-Year Waiting Period Additional Product Info
Mutual of Omaha
No Health Issues
Liver Disease & Obese
Severe Health Issues

3 Best Final Expense Insurance Companies

Mutual of Omaha

  • Plan Name: Living Promise Level
  • Age Eligibility: 45 – 85
  • Death Benefit Size: $2,000 – $40,000
  • Health Questions: Yes
  • Waiting Period for Benefits: No
  • States Covered: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A+ (superior)
  • Full Mutual of Omaha Review

Mutual of Omaha has the best life insurance to cover funeral expenses. With low rates, immediate coverage, and a highly respected brand name, the Living Promise Level plan is the best burial insurance for healthy individuals.

This plan requires applicants to be in excellent health and answer a series of yes or no medical questions. Even with its strict acceptance guidelines, there are many medical conditions that this carrier will approve for coverage.

Health Conditions Accepted

Aneurysm | Angina | Arthritis | Crohn’s Disease | Cystic Fibrosis | Depression | Diabetes | Diverticulitis | Epilepsy | Fibromyalgia | Grave’s Disease | Heart Attack | Heart Surgery | High Cholesterol | High Blood Pressure | Pacemaker | Sleep Apnea

Aetna (CVS Health)

  • 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: No
  • States Covered: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A (excellent)
  • Full CVS/Aetna Review

In 2018 CVS Health acquired Aetna and implemented a top-tier final expense plan called Accendo. There are two categories within Accendo’s level insurance policy; Preferred and Standard.

Both policies offer immediate coverage. However, the Preferred plan has a lower monthly premium and requires the applicant to be in better health than the Standard plan. Both policies are great options for people applying for funeral insurance.

This plan accepts liver conditions and is lenient on obesity because there is no height and weight chart on the application. They also offer burial insurance for seniors over 85.

Health Conditions Accepted

A-Fib | Angioplasty | Asthma | Bipolar | Cirrhosis | Crohn’s Disease | Depression | Diabetes | Disability Benefits | Diverticulitis | Epilepsy | Fibromyalgia | Grave’s Disease | High Cholesterol | High Blood Pressure | Lupus | Obesity | Sarcoidosis | Schizophrenia | Scleroderma | Seizures | Sleep Apnea | Type 1 Diabetes


  • Plan Name: Guaranteed Issue
  • Age Eligibility: 50 – 80
  • Death Benefit Size: $5,000 – $25,000
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • States Covered: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A (excellent)
  • Full AIG Review

This insurance policy from AIG asks no medical questions and approves everyone who applies.

This plan offers some of the lowest guaranteed acceptance prices and includes additional living benefits. These policy features include a temporary accidental death benefit, a chronic illness accelerated death benefit, and a terminal illness accelerated death benefit.

With no medical underwriting, a two-year waiting period is required with this plan. Also, smoking and tobacco use are not considered when getting a policy.

Health Conditions Accepted

AIDS or HIV | Aneurysm | Angina | Angioplasty | Cancer | Cardiomyopathy | Circulatory Surgery | Cirrhosis | Congestive Heart Failure Defibrillator Implant | Dementia or Alzheimer’s | Diabetic Complications | Dialysis | Heart Attack | Heart Surgery | Hepatitis | Home Health Care | Kidney Disease | Lung Disease (COPD) | Lupus | Mental Health | Multiple Sclerosis (MS) | Obesity | Oxygen | Pacemaker | Stent | Stroke | TIA | Tumor | Type 1 Diabetes | Wheelchair Confinement

How Much Does Final Expense Insurance Cost?

On average, the monthly premiums range from $40 to $100. However, the price for burial insurance is determined by what policy you qualify for. Age, health, gender, and the coverage amount all determine the price you will pay.

How To Determine Who Has The Best Final Expense Insurance

Three factors determine who has the best burial insurance policies.

Price: Every company sets its own burial insurance prices. The best final expense insurance companies have very competitive pricing.

Policy Structure: Some policies offer full immediate coverage, and others require waiting periods before coverage is available. Obtaining burial insurance with no waiting period should be a top priority whenever possible.

Financial Stability: Companies with a solid financial rating are the ones you want to work with. Ratings are given by third-party organizations based on their financial strength and ability to pay out claims. Moving forward with a highly rated company will ensure the claim is paid to the beneficiary when due.

What are the Worst Life Insurance Companies?

The worst final expense life insurance policies come from AARP, Colonial Penn, and Globe Life. AARP and Globe Life offer term policies that expire but still deceptively advertise as burial insurance. Colonial Penn offers overly expensive guaranteed issue policies. Whenever purchasing life insurance for burial, ensure it is an affordable whole life policy.

What is the Difference Between Funeral Insurance and Burial Insurance?

There is no difference between burial insurance and funeral insurance. These are marketing names created by the insurance industry. Burial insurance is also known as final expense insurance and funeral insurance. This coverage is a type of whole life insurance that goes through a simplified issue underwriting process, making policies easy to get and permanent.

Features of Whole Life Insurance

All whole life policies come with the following benefits regardless of who they are purchased through. Since final expense is a type of whole life insurance, it also comes with these advantages.

Price Lock: The premiums never change once a policy has been issued.

Coverage Lock: The amount of initial coverage you sign up for will never fluctuate.

Builds Cash Value: One of the great benefits of whole life coverage is that it builds a cash value. Over time this value grows and can be borrowed.

Final Expense Insurance Benefits

No Medical Exam: Applicants will never need a medical exam to qualify. They will be asked a few health questions to determine eligibility.

Affordable Coverage: These policies are offered with relatively small death benefits of $2,000 – $40,000. The more coverage a policy has, the more expensive the premiums are. People usually spend between $40 – $100 monthly on burial insurance, but age, health, gender, and policy amounts play into this metric.

Final Thoughts About The Best Funeral Insurance Companies

a. The best burial insurance companies will depend on your medical history, age, and the coverage amount you are looking for.

b. Mutual of Omaha, Aetna, AIG, Royal Neighbors, and American Amicable are the best funeral insurance companies due to their price, policy structure, and financial rating.

c. Avoid using term insurance and overpriced guaranteed acceptance policies to prepare for your burial and final expenses.