Best Funeral Insurance for Final Expenses

funeral insurance

Funeral Insurance for Final Expenses is a whole life insurance plan that is purchased to cover your final expenses or burial expenses at the time of your death. A Funeral Insurance policy can also be used to leave money behind for family members like your children or grandchildren. Funeral Insurance is often called Burial Insurance, Final Expense Insurance, Senior Life Insurance and most often Whole Life Insurance.

Benefits of Funeral Insurance:


  • It doesn’t EXPIRE like Term Life Insurance
  • Its good for your WHOLE LIFE (as long as your payments are current)
  • It can’t EVER be cancelled due to your age or health
  • Your monthly premium WILL NEVER INCREASE
  • Death benefit amount is tax free
  • No medical exams to qualify
  • Most funeral Insurance companies ask simple YES or NO questions on application

How much Funeral Insurance should you purchase?

When deciding how much funeral insurance to purchase, it’s important to think about a couple questions first. You need to ask yourself…“What do you want the insurance to do for you?”  Also, are you only looking for enough funeral insurance to cover just your burial and final expenses? Any reason you need to leave extra money behind for family members?

After you answer these basic questions, next it’s important to look at the costs associated with funeral and burial expenses. A traditional funeral in most states right now is around $7500-$9000 depending on options. Assurance Life recommends to all of their clients to purchase a minimum of $10,000 of funeral insurance to cover their final expenses. Depending on age, it might be beneficial to secure even a higher amount.

It’s really hard to guess how much a funeral will cost down the road, so making sure you have enough to cover ALL your final expenses is important.  If you already have some funeral insurance in place, Assurance Life can also help you with smaller amounts between $2,000 to $7000 to supplement current policies.  We have access to funeral insurance companies that offer plans from $2000-$100,000 so any amount you need- Assurance Life can handle.

The most important ADVICE when buying funeral insurance is to ONLY TAKE OUT A POLICY THAT YOU CAN AFFORD. Funeral Insurance is not something you want to take out for short period of time and then have to let it go. You lose ALL the money that you put into the policy when this happens. So, MAKE SURE you can handle the monthly payment for years to come before taking out a funeral insurance policy.

What types of Funeral Insurance are available?

Most companies offer different levels or types of coverage based on your current health situation. Most of our clients are approved for LEVEL coverage, sometimes called Preferred coverage. This means you are APPROVED DAY 1 with no waiting period. This is the BEST coverage available on the market at the BEST PRICE. Once again, on ALL whole life insurance plans you are covered for your WHOLE life and your policy can’t be cancelled due to your age or health.

Another level of whole life insurance that is offered is called Graded benefits coverage. Graded simply means that your death benefits are limited during the first two years. Most TRUE graded plans payout 30% during year one of the death benefit and 70% during year two. After two years the entire death benefit would be paid out. Of course, if you die because of an accident the full death benefit would be covered first year.

The third of type of insurance often purchased is called Guaranteed Issue Whole Life Insurance. Guaranteed issue means you are automatically approved. These plans don’t ask any health questions but do have a two-year waiting period before the death benefit would be paid out. Usually during the first two years if you pass away, most companies would pay you all your money back PLUS 10 percent interest. After two years, the full death benefit would be paid out.

Who needs Funeral Insurance?


Funeral insurance is important for individuals you don’t have the funds set aside to pay for their final expenses. Most of our customers tell us that the main reason they want to buy burial insurance is because they don’t want to leave that burden on their family members.

If you haven’t been able to plan ahead, not to worry because we can help. Assurance Life also offers children’s whole life insurance policies. These children’s policies are often purchased by parents or grandparents and transferred over to the kids once they become adults. By starting policies at such a young age, a larger amount of insurance can be purchased at very low prices. Assurance Life has burial insurance plans available from ages 0-85 so we got you covered!

Do I have to be in perfect health to buy Funeral Insurance?


Absolutely NOT! In fact, most of the time, buying funeral insurance for final expenses is simple and easy. Assurance Life uses companies that make the process smooth because they do not require a medical exam. So no blood work is needed or needles to worry about. Plus, all burial insurance companies ask simple Yes or No questions on their applications which makes the process very cut and dry. Assurance Life even has companies that offer Guaranteed Issue plans which means EVERYONE is approved and no health questions are asked.

How do you buy Funeral Insurance?

Funeral insurance can be purchased through licensed insurance agents or insurance agencies like Assurance Life. What makes Assurance Life different is we are a burial insurance comparison service. This simply means that we don’t just represent one insurance company but have access to the top 25 final expense insurance providers in the US. We work for YOU and not one life insurance company. Using one company who only offers ONE plan is NOT in your best interest.

How much does Funeral Insurance cost?

Sample Rates from Foresters Financial

How to find the best deal when shopping for Funeral Insurance?

We ALWAYS recommend using a broker for buying funeral insurance for final expenses. Companies like Assurance Life have numerous burial insurance companies to choose from. This is important not only in shopping for the best price for you but also in finding the RIGHT FIT for you based on your current health situation. Allowing an expert to help you during this process can save you thousands of dollars over the years. If you’re looking for reputable agents who work with the best funeral insurance companies, you’ve come to the right place.