What does Burial Insurance cost?

what does burial insurance cost

What does Burial Insurance cost? There isn’t a quick answer to this question because it depends. Depends on what? Well, it really comes down to the individual because the factors are based on unique qualities like age and current and past health conditions. This may feel like buying burial insurance would be confusing but not to worry because buying burial insurance can be simple and easy and most of the time it’s very affordable. Assurance Life helps individuals walk through the process of buying burial insurance every day. So, we got you covered.


So- what does burial insurance cost? Here are the five main factors that will determine the cost of your burial life insurance policy:


  • Age
  • Tobacco use
  • Health
  • Gender
  • Amount of Insurance needed

Why does my age matter?

First, let me say this loud and clear… the best time to buy life insurance is when your young and healthy. You won’t be any younger than you are right now and often not any healthier either. That is why age matters. Your age is a primary factor when determining burial insurance rates. Simply put- the greater your age… the greater risk of your death. Insurance companies look at mortality rates to help them determine their premiums. If you take two female individuals with the same heath conditions and one is 45 and the other is 58, the life insurance will always be cheaper for the 45 year old.

This is why it’s important to purchase burial insurance when you’re young. Buying early can save you money over the long haul. Of course, once you secure your burial insurance plan, your monthly premiums will NEVER increase. One best benefits of whole life insurance is that your premiums will never go up. Just to clarify, all burial insurance plans are whole life insurance policies.  You might also hear funeral insurance or final expense insurance.

Benefits of Whole Life Insurance:

  • Coverage is good for your whole life
  • Policy can’t be cancelled due to your age or health
  • Your death benefit will never decrease
  • Your monthly premium will never increase

So- age matters when it comes to answering the question- what does burial insurance cost? However, most often you age won’t prevent you from getting coverage. Assurance Life has access to over 25 burial insurance companies and several companies will approve you up to age 85. So don’t think for second you can’t get life insurance when you are in your 80’s because this simply isn’t true. In fact, we have policies for children, teenagers, young adults and for seniors of all ages.

Tobacco Use and Life Insurance Rates


It’s well documented that insurance companies charge a higher premium if you smoke or use tobacco products. The reason is simple, they do this to cover their risk because people who use tobacco are considered higher risk because their death often happens at an earlier age. Unfortunately, for the most part if you have smoked cigarettes in the past 12 months you will pay more for your burial insurance policy. Of course, if you use chewing tobacco or smoke cigars you could still qualify for non-smoking rates. Call us at 800-517-0810 and ask us how.

For example, one company might only ask about cigarettes specifically and not ask about any other forms of tobacco use. Once again, Assurance Life works with 25 different burial insurance companies. This allows us to match the RIGHT company based on your current health conditions. This is why it is important to always use an independent broker who has access to numerous companies when buying burial insurance for you and your family. Using an expert like Assurance Life, will guarantee that you will always get the lowest price and the best coverage that fits your specific needs.

Your health matters

Your health is a big factor when determining what your burial insurance cost will be. However, before we launch into the health side, you need to know that burial insurance is one of the easiest life insurance policies to qualify for. Also, the process is short unlike other life insurance products. Some companies will give you an instant approval or often an answer within 24 hours. All burial insurance company applications are simple yes or no questions. In fact, we have some companies that don’t even ask any health questions. So don’t be worried about getting approved for burial insurance coverage. Assurance Life has plans for the healthy and those with severe health issues as well. Don’t sweat it!


Here is how your health effects the premiums you will pay for coverage and what type of funeral insurance you qualify for. Most burial insurance companies have three different levels of coverage:

  • Preferred/Level Coverage
  • Graded
  • Guaranteed Issue

Preferred/Level coverage is what 90 percent of all of our customers normally qualify for. Preferred coverage is the best coverage available and starts immediately. What does this mean? It simply means that your policy is immediate and it doesn’t have a waiting period before the insurance company would pay out your death benefit. Plus, the monthly premiums are always the lowest on this type of coverage. This is why Assurance Life tries to get all of its clients approved for this level.

Graded just means that the death benefit would be paid over a period of time. For example: some companies might pay 30 percent of the death benefit the first year and then 70 percent the second year. After two years, the full death amount would be paid out. Unfortunately, graded plans are more expensive since certain health conditions would be considered higher risk. Here are some health conditions in which a graded policy might make the most sense:


  • Heart attack within the last 13-24 months
  • Hepatitis within the last 24 months
  • Heart surgery within past 18 months
  • Recent stroke within past 18 months

Guaranteed Issue Burial Insurance

Guaranteed issue burial insurance is the most expensive of the three levels of coverage since no medical underwriting is done. Guaranteed issue plans don’t ask any health questions and everyone is guaranteed acceptance. These plans for great for those with severe health issues. Here are few health conditions when guaranteed issue plans are your only option:

  • Currently on oxygen
  • Currently on dialysis
  • Currently receiving hospice care
  • Currently have cancer
  • Diagnosed with Alzheimer’s Disease

Yes, your health could affect your burial insurance premiums. In fact, sometimes your current medications could play a factor as well. However, since Assurance Life has access to so many companies we can usually find a company that will take your health conditions even at the preferred level. Call us at 800-517-0810 and one of our licensed specialist can assist you.

Cheaper coverage for Females

Why do females always get the cheapest life insurance rates? We get this question a lot. This never seems fair to the men! However, there is a method to the madness. Insurance companies use mortality tables when they determine their life insurance rates. This simply means, a projection on how long someone will live. Right now in the US, females are living 4-5 years longer than men on average depending on where you live. Living longer means more premium payments to the insurance companies. So since females tend to live longer, they get the benefit of lower life insurance premiums. So burial insurance cost is determined by your gender.


Amount of coverage needed vs. costs

Obviously, the more life insurance you take out the more it will cost you. Most burial insurance plans can be affordable if you choose the correct death benefit amount. Assurance Life can help you determine an approximation of what your end of life final expenses will be. We would then recommend a death benefit amount around this number. The key is to budget accordingly.

We always recommend no less than $8,000 if you are wanting a traditional burial. This also depends on how old you are. Clients under 60 should consider inflation when they choose their death benefits because if average life expectancy is realized, costs will rise before the policy is paid out. $10,000 is the most common death benefit our customers choose. If you have decided on cremation, we can also offer lower coverage amount around $5000.

Below are some sample rates from different companies to give you an idea on what burial insurance cost could be. Contact us at 800-517-0810 for exact rates and specific burial insurance coverages. We have licensed agents ready to assist you.

Liberty Bankers Life Sample Rates


Mutual of Omaha Sample Rates


Royal Neighbors of America Sample Rates