Introduction:

The cost of dying is often overlooked, but it’s a major expense that can catch your loved ones off guard. Burial insurance, also known as final expense insurance, is a smart financial move that can relieve your family of the burden of funeral costs. In this article, we take a look at some of the best burial insurance companies to help you make an informed decision.

1. Mutual of Omaha:

Mutual of Omaha is a reputable company with over a century of experience in the industry. Their Living Promise Whole Life Insurance policy offers two plan options – Level Benefit and Graded Benefit – designed to cover final expenses such as funeral costs and outstanding debts. With guaranteed premiums that never increase, policies up to $40,000 in coverage, and simplified underwriting, Mutual of Omaha makes securing burial insurance easy for individuals aged 45 to 85.

2. AARP/New York Life:

AARP has partnered with New York Life Insurance Company to offer AARP Guaranteed Acceptance Life Insurance to its members. This product offers whole life insurance with guaranteed acceptance for individuals aged 50 to 80 without the need for a medical exam. The policy includes coverage up to $25,000 and features level premiums that will not increase due to age or health.

3. Gerber Life Insurance:

Gerber Life Insurance is known for catering to the financial needs of families. Their Guaranteed Life Plan offers coverage ranging from $5,000 to $25,000 without medical exams or health questions for seniors aged 50-80 years old. The premiums are affordable and never increase during the policy term, ensuring peace of mind for policyholders and their loved ones.

4. Colonial Penn:

Colonial Penn provides guaranteed acceptance life insurance policies to individuals aged 50-85 without requiring medical examinations or health questionnaires. They offer coverage up to $50,000 with fixed premiums that never increase. This company is a popular choice due to their simple application process and dependable coverage.

5. Transamerica:

Transamerica is a well-established company that offers reliable final expense insurance options for seniors up to age 85. Their Immediate Solution and 10-Pay Solution policies include simplified underwriting and coverage amounts ranging from $1,000 to $50,000. The policies also build cash value over time, offering an additional financial safety net for policyholders.

Conclusion:

The cost of funerals and end-of-life expenses can be taxing on families during an emotionally challenging time. Burial insurance offers a financial solution by easing the burden on your loved ones and ensuring a proper and dignified farewell. These top-tier burial insurance companies provide reliable coverage options with guaranteed premiums, making them worth considering when planning for your final expenses.