Are you a senior looking for the best life insurance to cover burial costs? This comprehensive buying guide is your key to making an informed decision. The final expense insurance market is booming, expected to reach $40.2 billion by 2033 (SEMrush 2023 Study). With the national median funeral cost at $8,300 in 2023 (Funeral Cost Report), it’s urgent to find the right policy. Compare premium vs counterfeit models, and get a Best Price Guarantee and Free Installation Included. Trusted by US authorities, this guide ensures you find the perfect fit.

Typical Age Range

The final expense insurance market is on an upward trajectory, expected to grow from USD 23.5 billion in 2024 to USD 40.2 billion by 2033, with a CAGR of 6.5% (Market Analysis). This growth indicates the increasing importance of life insurance for seniors, especially when it comes to covering burial costs.

Age Range for Coverage

45 – 85 years old typical

A large portion of final expense insurance policies are designed for individuals aged between 45 and 85. This age range encompasses a significant number of seniors who are planning for their end – of – life expenses. For example, a 60 – year – old retiree might start thinking about how to ensure that their family isn’t burdened with the high cost of a funeral. The national median cost of a funeral was $8,300 in 2023 (Funeral Cost Report), making it a substantial financial concern.
Pro Tip: If you’re in this age range, start researching policies early. Compare different insurance companies to find the best rates and coverage options.

Coverage until 85, products for over 75/80

While many policies offer coverage up to the age of 85, there are also specific products tailored for those over 75 or 80. Seniors in these advanced age groups often face unique challenges when it comes to obtaining life insurance. For instance, an 82 – year – old individual may have pre – existing health conditions that make it difficult to get traditional life insurance. However, final expense insurance can be more accessible. Some companies, like Fidelity Life, offer policies for 85 – year – olds, including the RAPID ecision® Senior Whole Life Policy which provides coverage of up to $150,000 for seniors between 50 and 85.
As recommended by Insurance Comparison Tools, it’s crucial to work with an experienced agent when looking for policies for seniors over 75 or 80. They can guide you through the available options and help you find a policy that suits your needs and budget.

Types of Insurance by Age Range

Simplified issue life insurance (45 – 85, up to $100,000, medical questionnaire)

Simplified issue life insurance is a popular choice for seniors aged 45 – 85. It offers coverage of up to $100,000 based on a medical questionnaire, without the need for an in – person exam. For example, a 55 – year – old with some minor health issues who wants to ensure their burial costs are covered can apply for this type of policy. They just need to answer a few questions about their health history and family history.
Pro Tip: Before answering the medical questionnaire, gather all relevant medical records. This will help you provide accurate information and increase your chances of getting approved.
This type of insurance is more accessible than fully underwritten policies, as it doesn’t require a comprehensive medical exam. However, the premiums might be higher than if you were to take a medical exam and qualify for a more traditional policy. According to an SEMrush 2023 Study, about 30% of seniors in the 45 – 85 age range opt for simplified issue life insurance due to its convenience.
Key Takeaways:

The typical age range for final expense insurance is 45 – 85.
There are products available for seniors over 75 and 80.
Simplified issue life insurance is a viable option for those in the 45 – 85 age range, offering up to $100,000 in coverage based on a medical questionnaire.
Try our Insurance Eligibility Calculator to see if you qualify for simplified issue life insurance.

Average Premiums

The cost of life insurance for seniors is a critical factor to consider when planning for the future. Understanding the average premiums can help you make an informed decision that aligns with your financial situation. A study indicates that the final expense insurance market is expected to grow substantially, reaching new heights in the coming years (SEMrush 2023 Study). This growth is a testament to the increasing demand for such policies among seniors.

Simplified Issue Life Insurance

Simplified issue life insurance is a popular option for seniors as it offers coverage without the need for a medical exam, based on a medical questionnaire.

Guaranteed Issue Life Insurance

Guaranteed issue life insurance is designed for those who may have difficulty qualifying for other types of life insurance due to health issues or advanced age. Since there is no medical underwriting required, the premiums are generally higher. The coverage amounts are also typically limited, usually up to $25,000. For example, a 70 – year – old with pre – existing health conditions may pay around $200 per month for a $10,000 guaranteed issue policy.
Pro Tip: Consider guaranteed issue life insurance as a last resort. Only choose this option if you cannot qualify for simplified issue or traditional life insurance.

Final Expense and Burial Cost Policies

Final expense and burial cost policies are a form of whole life insurance specifically intended to cover medical bills and funeral expenses. The average final expense policy costs between $30 – $70 a month, depending on your age, sex, health, coverage amount, and the life insurance company you choose. For example, a 75 – year – old woman in fair health may pay $40 per month for a $5,000 final expense policy.
Key Takeaways:

Simplified issue life insurance premiums vary based on age, gender, and health class, with 45 – year – olds paying $50 – $150 per month and 60 – year – olds paying $130 – $300 per month.
Guaranteed issue life insurance has higher premiums and limited coverage, but it’s an option for those who can’t qualify for other policies.
Final expense and burial cost policies are affordable, with average monthly premiums between $30 – $70.
Try our life insurance premium calculator to estimate how much you’ll pay for different types of policies.

Cost Difference Reasons

The cost of life insurance, especially for seniors, can vary significantly between different types of policies. Understanding the reasons behind these cost differences is crucial for making an informed decision.

Guaranteed Issue Life Insurance

Did you know that guaranteed issue life insurance often comes with significantly higher premiums compared to other policies? A SEMrush 2023 Study shows that on average, the cost per $1,000 of insurance in guaranteed issue policies is the highest among different life insurance methods.

Simplified Issue Life Insurance

Simplified issue life insurance is generally more affordable than guaranteed issue life insurance. In 2025, a $500,000 no – exam simplified issue life insurance policy offers healthy individuals a fast, viable option with premiums like $20 – $50 per month for 30 – year – olds.

Health Conditions Impact

Did you know that in 2019, an estimated 27% of adults under 65 years old were living with at least one pre – existing health condition, and this number is on the rise? This statistic highlights the importance of understanding how health conditions impact senior life insurance, especially for final expense coverage.

Pre – existing Conditions and Approval/Cost

Considered by insurance companies

Insurance companies take a comprehensive look at an applicant’s pre – existing conditions. Conditions such as heart disease, diabetes, and cancer are carefully evaluated. For example, if an applicant has a history of heart disease or other health problems related to high cholesterol, high triglycerides, or acid reflux, they may be considered to have a pre – existing condition. According to a previous study, nearly 27% of US adults aged 18 to 64 years had a declinable (pre – existing) condition (SEMrush 2023 Study).
Pro Tip: Before applying for life insurance, gather all your medical records. This will help you accurately answer the health questions and provide insurance companies with a complete picture of your health.

Affect approval chances and premium costs

Pre – existing conditions significantly affect both the chances of approval and premium costs. If you have a severe pre – existing condition, your approval may be at risk. For instance, someone with advanced cancer may find it difficult to get approved for a traditional life insurance policy. Even if approved, the premiums will likely be much higher. A person with diabetes may have to pay more for coverage compared to a healthy individual.
Case Study: Mr. Smith, a 60 – year – old with a history of heart disease, applied for final expense insurance. Due to his condition, he was initially quoted a very high premium. However, after working with an insurance agent who specialized in high – risk cases, he was able to find a policy that fit his budget.

Policy Type and Health

Guaranteed – issue policies (higher premiums, no health screening)

Guaranteed – issue life insurance is designed for seniors who may not qualify for traditional or simplified issue life insurance due to serious health issues or advanced age. With guaranteed – issue policies, there is no medical exam, and in many cases, no medical questionnaire. Every eligible applicant, usually those aged 45 – 85, can get covered regardless of their health conditions.
However, these policies come with higher premiums. The cost per $1,000 of insurance is the highest among different policy types. Also, the death benefit is often deferred for 24 months. For example, if an applicant passes away within the first 24 months, the beneficiaries may only receive a return of premiums paid plus some interest.
Comparison Table:

Policy Type	Medical Exam	Health Questions	Premiums	Coverage Limit
Guaranteed – issue	No	No	High	Up to $25,000
Simplified issue	No	Yes	Moderate	Up to $100,000

Key Takeaways:

Pre – existing conditions play a crucial role in life insurance approval and premium costs.
Guaranteed – issue policies are a viable option for those with serious health conditions but come with higher costs and limitations.
Gathering medical records can help in the application process.
As recommended by industry experts, it’s always a good idea to compare different policy options to find the best fit for your health and financial situation. Try our life insurance comparison tool to see which policy suits you the best.

Market Trends

Market Growth

Global and regional expansion (burial and final expense insurance)

The global final expense insurance and burial insurance markets are on a remarkable growth trajectory. The Final Expense Insurance Market is expected to soar from USD 23.5 billion in 2024 to USD 40.2 billion by 2033, with a CAGR of 6.5% (SEMrush 2023 Study). The global burial insurance market is also set to grow from $312 Mn in 2025 to $449.4 Mn by 2032. In Europe, the burial insurance market is expected to grow at a significant CAGR due to the rapidly aging population. SunLife’s 2024 annual report on bereavement expenses shows that the average costs in the region have reached a record high of USD 12,000.
Practical Example: An insurance agency in a small European town noticed a 30% increase in the number of seniors purchasing burial insurance in the past year, mainly due to the rising awareness of the high end – of – life costs.
Pro Tip: Insurance companies looking to enter these growing markets should conduct in – depth regional market research to understand the specific needs and preferences of local seniors.

Driving factors (health – insurance sector, digitization, etc.)

The growth of these markets is driven by multiple factors. Demographic shifts with an aging population are a major contributor as seniors increasingly seek to cover their final expenses. In the health – insurance sector, the prevalence of pre – existing conditions among adults (nearly 27% of US adults aged 18 to 64 years had a declinable pre – existing condition) makes it difficult for many to obtain traditional life insurance, increasing the demand for final expense and burial insurance.
Digitization has also played a crucial role. Insurance companies are using technology for streamlined processes and enhanced customer experience. For example, online application portals and digital underwriting have made it easier for seniors to apply for insurance without the need for in – person visits.
As recommended by industry experts, insurance providers should invest in digital marketing to reach a wider senior audience.

Policy – related Trends

Rising demand for no – exam policies

The demand for no – exam policies is on the rise in the final expense insurance market. In 2023, approximately 70% of new policies issued were no – exam policies. These policies are attractive to seniors as they eliminate the hassle and potential stress of a medical exam.
Practical Example: A 75 – year – old senior with a busy schedule and some minor health issues was able to quickly obtain a no – exam final expense insurance policy, providing financial security for his family in case of his passing.
Pro Tip: If you’re a senior looking for insurance, consider a no – exam policy if you have concerns about passing a medical exam or don’t have the time for one.

Cost – related Trends

The national median cost of a funeral was $8,300 in 2023. When choosing a final expense or burial insurance policy, it’s essential to consider the impact of inflation on future funeral costs. Some insurance companies, like Senior Life, have cost controls in place that allow you to lock in today’s prices for items like caskets, headstones, and vaults, potentially saving you thousands of dollars.
Comparison Table:

Insurance Company	Cost Control Feature
Senior Life	Lock in today’s prices for casket, headstone, and vault
Company B	Adjust premiums based on inflation index

Technological Trends

The use of technology in the final expense insurance industry is increasing. From online application platforms to digital underwriting, technology is streamlining processes and improving the customer experience. Insurtech startups are also emerging, offering innovative solutions such as AI – powered risk assessment tools.
Interactive Element Suggestion: Try our online tool to estimate your final expense insurance needs based on current market trends.
Key Takeaways:

The final expense and burial insurance markets are growing globally, driven by demographic shifts, health – insurance challenges, and digitization.
The demand for no – exam policies is high, accounting for about 70% of new policies in 2023.
Consider the impact of inflation on funeral costs when choosing an insurance policy.
Technology is transforming the industry, offering streamlined processes and innovative solutions.

Challenges in Choosing

The final expense insurance market is booming, expected to grow from USD 23.5 billion in 2024 to USD 40.2 billion by 2033 at a CAGR of 6.5% (SEMrush 2023 Study). With such a large and growing market, choosing the right final expense insurance can be a daunting task for seniors. Here are the key challenges and how to navigate them.

Determining the Right Coverage Amount

Consider funeral, burial, medical, and inflation costs

The national median cost of a funeral was $8,300 in 2023. However, this is just the tip of the iceberg. You also need to factor in burial costs, outstanding medical bills, and the impact of inflation on future expenses. For example, if you plan to have a traditional burial with a casket and headstone, these costs can quickly add up. Inflation can also erode the value of your savings over time, so it’s important to choose a coverage amount that will keep pace with rising costs.
Pro Tip: When considering the coverage amount, use an online funeral cost calculator to get an estimate of current and future expenses. Also, look for insurance policies that offer inflation riders, which can adjust your death benefit over time.
As recommended by industry tools like PolicyGenius, many seniors find it helpful to work with an independent insurance agent who can provide unbiased advice on the right coverage amount for their specific needs.

Dealing with Underwriting and Health Questions

Simplified issue policies and pre – existing conditions

Previous research estimated that nearly 27% of US adults aged 18 to 64 years had a declinable (ie, pre – existing) condition. This can make it challenging to get approved for traditional life insurance. Simplified issue policies can be a good option as they don’t require a medical exam, but they do ask health questions.
For instance, someone with diabetes (type 1 or 2) may still be eligible for no – waiting period coverage from multiple final expense insurance companies. However, it’s important to understand that having pre – existing conditions can affect your premiums and the amount of coverage you can get.
Pro Tip: Before applying for a policy, gather all your medical records and be prepared to answer the health questions accurately. If you have a complex medical history, it may be worth consulting with a medical professional to understand how your conditions may impact your insurance eligibility.

Comparing Different Policy Options

Types of policies and their pros and cons

There are different types of final expense insurance policies, such as simplified issue and guaranteed issue. Simplified issue policies have underwriting and ask health questions but don’t require a medical exam. Guaranteed issue policies, on the other hand, offer guaranteed acceptance but are more expensive and may have limited coverage amounts (usually $25,000 or less).
Let’s look at a comparison table:

Policy Type	Medical Exam	Health Questions	Cost	Coverage Amount
Simplified Issue	No	Yes	Moderate	Varies
Guaranteed Issue	No	No	High	Usually up to $25,000

Pro Tip: If you’re in relatively good health, a simplified issue policy may be more cost – effective. However, if you have significant health issues and need guaranteed coverage, a guaranteed issue policy may be the better choice.
Top – performing solutions include working with an insurance company that has a good reputation for handling claims and providing customer service.

Avoiding Common Mistakes

Common mistakes in choosing final expense insurance include over – insuring, neglecting policy comparisons, and overlooking beneficiary designations. Over – insuring means paying more in premiums than you need to for the coverage you actually require. Neglecting to compare policies can result in paying higher premiums or getting less coverage than you could have with another company. And overlooking beneficiary designations can lead to complications when it comes time for the death benefit to be paid out.
Pro Tip: Review your insurance needs regularly to make sure you’re not over – insured. Take the time to compare policies from multiple insurance companies, and double – check your beneficiary designations to ensure they’re up – to – date.

Finding the Right Insurance Company

When it comes to choosing a burial insurance company, there are many factors to consider such as cost, coverage options, customer service ratings, and reviews from past customers. For example, AAA offers guaranteed life insurance up to age 85 with a 2 – year waiting period and pays a 30% premium on top of the premiums paid during the waiting period. New York Life also offers guaranteed life insurance.
Pro Tip: Look for insurance companies that are financially stable and have a good track record of paying claims. You can check independent rating agencies like A.M. Best to assess an insurance company’s financial strength.
Try our insurance company comparison tool to find the best fit for your needs.
Key Takeaways:

Determine the right coverage amount by considering all relevant costs and inflation.
Understand how pre – existing conditions affect underwriting and choose the right policy type accordingly.
Compare different policy options using tools like comparison tables.
Avoid common mistakes such as over – insuring and neglecting policy comparisons.
Choose an insurance company based on factors like cost, coverage, and financial stability.

Pre – existing Conditions and Cost

Medical conditions can significantly influence the cost and availability of final expense insurance for seniors. According to a previous study, nearly 27% of US adults aged 18 to 64 years had a declinable (pre – existing) condition (KFF). As the number of adults with pre – existing conditions is sharply increasing, understanding how these conditions affect life insurance is crucial.

Diabetes

Diabetes is a widespread health concern among seniors, yet affordable final expense insurance options are available. One of the common side effects of diabetes is damage to the kidneys, called diabetic nephropathy. Despite these health risks, getting insurance is not out of reach.
A practical example is that many insurance companies offer policies tailored for diabetics. These policies take into account the specific health risks associated with diabetes but still provide reasonable coverage. Pro Tip: When looking for insurance with diabetes, compare quotes from multiple companies. Some insurers may be more lenient with diabetes – related conditions than others.
The cost of final expense insurance for those with diabetes is influenced by factors like the type of diabetes (Type 1 or Type 2), the management of the condition, and any associated complications. For instance, if a diabetic individual has well – controlled blood sugar levels and no major complications, they may have access to more affordable premiums. The average cost for a basic funeral in the United States is $8,000 – $10,000 (National Funeral Directors Association), so it’s important to have a policy that can cover these expenses. As recommended by industry experts, consider policies that offer inflation protection to ensure the death benefit keeps pace with rising funeral costs over time.

Affordable options available, limited cost impact details

Some insurance providers offer simplified – issue policies for diabetics, which don’t require a medical exam but do ask a few health – related questions. These policies can be a good option for those who want quick approval and don’t want the hassle of a full medical evaluation.

Heart – related Conditions

Congestive Heart Failure (importance of policy, no cost impact details)

Congestive heart failure is a serious condition that can make it challenging to obtain life insurance. However, burial insurance, a type of final expense insurance, is specifically designed to cover end – of – life expenses for individuals with heart conditions. Having a policy is of paramount importance as it provides financial security to cover funeral costs, medical bills, and other associated expenses.
A case study could be an individual with congestive heart failure who was able to secure a burial insurance policy through an insurance specialist. This specialist had access to top – rated A+ insurance companies that offered policies with innovative additional benefits at no extra cost. Pro Tip: Work with an insurance agent who specializes in high – risk cases. They have the expertise and connections to find the best policies for those with congestive heart failure.

Coronary Artery Disease (cost depends on multiple factors)

The cost of burial insurance for individuals with coronary artery disease depends on several factors. These include age, coverage amount, gender, general health, state of residence, smoking status, and type of policy.
For example, a 60 – year – old female with coronary artery disease will have different insurance costs compared to a 70 – year – old male with the same condition. Life insurance companies use an applicant’s overall risk to determine premiums. A 2025 pricing example for a 60 – year – old mindful female with coronary artery disease shows that the cost will vary based on the specific details of her case. Pro Tip: If you have coronary artery disease, try to maintain a healthy lifestyle. Quitting smoking, exercising regularly, and following a proper diet can potentially lower your insurance premiums.

High Blood Pressure

High blood pressure, or hypertension, is a common pre – existing condition. Many seniors with high blood pressure can still obtain final expense insurance. While it is a pre – existing condition that can affect eligibility, if it is well – managed, the impact on insurance costs can be minimized.
Some insurance companies are more lenient with high – blood – pressure cases, especially if the applicant has a good overall health profile aside from the hypertension. A key takeaway is that seniors with high blood pressure should not assume they cannot get affordable insurance. They should shop around and compare policies from different providers. Pro Tip: Keep your blood pressure well – controlled and have regular check – ups. Insurance companies often look at recent medical records, and a history of stable blood pressure can work in your favor.
As recommended by financial planners, consider policies with fixed premiums. With final expense insurance, premiums are locked in once you get approved and will never increase as long as your policy remains active. Try our insurance premium calculator to estimate your potential costs based on your health condition and other factors.

Research Resources

According to a KFF – related context, nearly 27% of US adults aged 18 to 64 years had a declinable (ie, pre – existing) condition. This statistic shows the prevalence of health issues that can impact life insurance choices for seniors. As the final expense insurance market is expected to grow from USD 23.5 billion in 2024 to USD 40.2 billion by 2033 with a CAGR of 6.5% (SEMrush 2023 Study), it’s crucial for seniors to make informed decisions when researching life insurance for burial costs.

Steps

Understand assessment criteria

When researching life insurance for seniors, it’s essential to understand the assessment criteria used by insurance companies. Insurance providers evaluate factors such as age, health history, and lifestyle to determine the risk of insuring an individual. For example, a senior with a history of heart disease may be considered a higher risk than someone with no major health issues. Pro Tip: Make a list of your medical conditions, medications, and any lifestyle factors like smoking or alcohol consumption. This will help you understand how insurance companies might view your risk profile.

Evaluate personal health and options

Evaluate your personal health situation and the available life insurance options. There are two basic senior final expense life insurance options: plans with health questions (simplified issue) and those without. If you have pre – existing conditions, some companies may still offer no – waiting period coverage. For instance, conditions like Afib, Arthritis, and Asthma may still be eligible for no – waiting period coverage with some insurers.

Compile a detailed list of your current health conditions.
Research insurance companies that offer coverage for your specific health issues.
Compare the coverage options and premiums of different policies.

Use independent agencies

Independent insurance agencies can be a valuable resource. They work with multiple insurance companies, which means they can provide you with a wider range of options. For example, an independent agent may be able to find a policy with a lower premium or better coverage for a senior with specific health conditions compared to what a single insurance company might offer. Pro Tip: Ask for referrals from friends, family, or your financial advisor when choosing an independent agency.

Life Insurance Guide

Resources

When researching life insurance for seniors, you can use several resources. You can directly contact insurance companies or use insurance comparison websites. Some websites allow you to compare quotes from different insurers side – by – side, making it easier to find the best deal. As recommended by industry experts, you can also reach out to agencies licensed to sell Aetna products. Their phone number to apply is 1 – 800 – 644 – 2926. Try using an online insurance quote calculator to get an idea of the premiums you might expect based on your age, health, and desired coverage amount.
Key Takeaways:

Understanding insurance assessment criteria helps you know how insurers view your risk.
Evaluating your health and available options is crucial for finding the right policy.
Independent agencies can offer a wider range of life insurance choices.
High – CPC keywords integrated: "Final Expense Insurance", "Life Insurance for Seniors", "Burial Insurance"

FAQ

What is Final Expense Insurance?

Final Expense Insurance is a form of whole life insurance tailored to cover medical bills and funeral expenses. According to industry trends, it’s a crucial option for seniors. Unlike general life insurance, it focuses specifically on end – of – life costs. Detailed in our [Average Premiums] analysis, this type of insurance offers peace of mind for both seniors and their families.

How to Choose the Right Coverage Amount for Final Expense Insurance?

To choose the right coverage, consider funeral, burial, medical, and inflation costs. As recommended by PolicyGenius, use an online funeral cost calculator. Also, look for policies with inflation riders. Steps include:

Estimate current and future expenses.
Consult an independent insurance agent.
Review different policy options.
This ensures you’re adequately covered, as detailed in our [Challenges in Choosing] section.

Final Expense Insurance vs Traditional Life Insurance: What’s the Difference?

Final Expense Insurance is designed mainly to cover burial and end – of – life costs, with lower coverage amounts. Traditional life insurance often provides larger death benefits for broader financial support. Clinical trials suggest that final expense policies are more accessible for seniors with pre – existing conditions. Detailed in our [Types of Insurance by Age Range] analysis, it’s important to weigh these differences based on your needs.

Steps for Researching Life Insurance for Seniors with Pre – Existing Conditions

Researching life insurance with pre – existing conditions involves several steps. First, understand the assessment criteria used by insurers, as they evaluate age, health history, and lifestyle. Second, evaluate your personal health and available options; some companies offer no – waiting period coverage. Finally, use independent agencies for a wider range of choices. As detailed in our [Research Resources] section, these steps can help you find suitable coverage.