What are the best final expense insurance providers for seniors who want to cover funeral and burial costs?

Here are some of the best-known final expense insurance providers for seniors looking to cover funeral and burial costs. “Best” can depend on age, health, budget, and whether you want a simplified approval process or more competitive pricing.

Top final expense insurance providers

1. Mutual of Omaha

• Very popular for final expense coverage
• Known for straightforward underwriting
• Often a strong choice for seniors in decent health
• Offers both simplified issue and guaranteed issue options

2. Transamerica

• Competitive for many older adults
• Flexible policy options
• Can be a good fit if you want burial coverage plus a bit of extra flexibility
• Often includes living benefits in some policies

3. AIG

• Strong guaranteed issue options
• Good for seniors with more serious health conditions
• Typically easier to qualify for than fully underwritten policies

4. Gerber Life

• Well-known brand for final expense and guaranteed issue whole life
• Simple application process
• Often chosen by seniors who want no medical exam

5. Aetna

• Offers final expense coverage through select products
• May be a good option for seniors comparing multiple carriers
• Worth checking if you want coverage with solid company reputation

6. Colonial Penn

• Widely marketed and easy to apply for
• Guaranteed acceptance products are common
• Can be convenient, though pricing and coverage amounts may be less competitive than other options

7. CICA / Baltimore Life / Foresters

• These companies are often recommended by agents for final expense needs
• May offer better value depending on age and health
• Worth comparing if you want a more tailored policy

What to look for in a final expense policy

When comparing providers, focus on:

• Monthly premium
• Coverage amount: usually $5,000 to $25,000
• Waiting period: some policies have graded death benefits for the first 2 years
• Medical underwriting: simplified issue vs. guaranteed issue
• Cash value growth
• Company financial strength ratings

Quick guidance

• Best for easier approval: AIG, Gerber Life, Colonial Penn
• Best for competitive pricing if health is okay: Mutual of Omaha, Transamerica
• Best for more serious health concerns: guaranteed issue options from several carriers

Important tip

Final expense insurance can vary a lot in cost, especially by age and health. It’s usually smart to compare at least 3 quotes before buying.

If you want, I can also give you:

1. a side-by-side comparison table, or
2. the best final expense companies by health condition and age.