Tag: Burial Insurance

Burial Insurance For AIDS Or HIV | We Offer Affordable Guaranteed Issue Life Insurance, Some Less Expensive Compared To Other Agencies

Updated: March 5, 2026 at 5:36 pm

Contrary to what you might think, you can obtain burial insurance if you are living with HIV or AIDS. No longer do you need to worry about your final expenses and burial costs.

The insurance industry has changed dramatically over the past decade. What used to be an automatic rejection is now a manageable application process with real options. Guaranteed issue policies don’t ask health questions. Simplified issue carriers evaluate your medication adherence and viral load. Some policies provide full coverage immediately, with no waiting periods.

The key is knowing which type of policy matches your current health status and which carriers actually approve HIV positive applicants. If you have AIDS, we have burial insurance options as well.

This guide walks you through every option available so you can secure coverage this week, not months from now. Additionally, burial insurance options are available for the very young (technically, age 0) all the way up to age 85. So, there are likely burial insurance options available to you.

Here is what we will discuss:

Let’s jump in and discuss what burial insurance is.

What Is Burial Insurance?

You likely have a good idea of what burial insurance is. It is simply a life insurance policy with a small death benefit, usually between $5,000 to $25,000 in face amount. Just as the name suggests, burial insurance pays the death benefit to your beneficiaries so they can pay your funeral expenses, burial costs, and other end-of-life expenses (like medical bills or anything else). You may hear burial insurance called “final expense insurance”, “funeral insurance”, or “final expense life insurance”. These all mean the same thing.

Traditionally, burial insurance is a whole life insurance policy. The advantages of burial insurance include:

  • no medical exam – you answer a simple health questionnaire
  • your death benefit never decrease
  • builds cash value
  • your policy can’t be canceled as long as you pay the premiums
  • premiums never increase
  • the carrier pays the death benefit directly to your beneficiary (or a funeral home if allowed)

As mentioned, burial insurance applications require no medical exam. You just answer 10 to 15 health questions. Then, the carrier reviews your answers and application against medical claim data in the MIB and Milliman Intelliscript. If all checks out, you are approved. That is the extent of burial insurance underwriting. Carriers make most underwriting decisions within 48 hours. Simplicity, ease, and speed are the attributes of applying for burial insurance.

Most carriers offer burial insurance to adults aged 50 to 85; however, we work with many carriers that offer burial insurance for adults under age 50, and a few even at age 0.

Burial Insurance Options For People With HIV

A couple of burial insurance coverage options exist for people with HIV and AIDS. Simplified issue policies skip the exam, but they ask detailed health questions. Guaranteed issue policies ask nothing about your health and cannot deny you based on your HIV status.

Here’s how each one works for HIV positive applicants:

Simplified Issue Policies: No medical exam required, but you’ll answer 10 to 15 health questions. When a carrier approves you for a simplified issue policy, you receive an immediate (level) death benefit. Currently, only a few carriers we work with offer an immediate benefit to people with HIV, provided their viral load has been undetectable, and their CD4 count meets the minimum threshold.

Guaranteed Issue Policies: This is the more common burial insurance option for people with HIV. Zero health questions, zero medical exams, zero denials. Insurers cannot turn you down, no matter your HIV status, viral load, or health history. You apply, and the carrier approves and processes your policy.

The trade-off is a two-year waiting period, during which the policy only returns premiums plus interest if you pass away from illness or natural causes. After two years, full death benefit coverage kicks in. Accidental death is covered immediately. Rates are usually the highest, but the carrier approves and processes your application rather immediately.

Let’s give an example. Let’s say Jane has a guaranteed issue burial insurance policy. It has a death benefit of $25,000. She has had the policy for 1 year and paid $2,000 so far in premiums.

If she passes away in the first year from an illness, the life insurance company refunds her $2,000.

If she passes away from an accident in the first year, the company pays the $25,000.

Let’s say she passes away in 10 years. The company pays the $25,000.

What is the Right Choice for You?

The right choice depends on your current health markers and the urgency of your need for full coverage. If your viral load is undetectable and stable, simplified issue gives you the best balance of cost and speed. If you’ve faced complications or your diagnosis is recent, a guaranteed issue life insurance policy removes all barriers.

While most carriers market guaranteed issue life insurance to people over the age of 50, we work with a handful of carriers that offer guaranteed issue life insurance for younger people, even starting at age “0”.

If you would like to quote and see what guaranteed issue life insurance would cost, feel free to use the quoter below. Note: the quoter doesn’t include all the plans we work with, so it is best to contact us if you have specific questions.

Graded Benefit Life Insurance for People with HIV

Graded benefit life insurance is a subset of simplified issue life insurance. You still have to answer health questions. Graded benefit means your beneficiaries receive a percentage of the death benefit if you pass away during the waiting period.

For example, let’s say a carrier has a graded benefit of 10% of the death benefit in the first year, 70% in the second year, and 100% in the 3rd year.

You purchase a $10,000 policy. Here’s what your beneficiaries receive if you pass away in the:

  • 1st year: $1,000
  • 2nd year: $7,000
  • 3rd year and beyond: $10,000

Just as with guaranteed issue life insurance, graded benefit plans cover accidental death immediately.

Sometimes, the cost of the guaranteed-issue life insurance coverage is less than that of a traditional graded benefit policy. We will always work in your best interest to find the right burial policy for you.

Burial Insurance Options for People with AIDS

If your HIV has progressed to an AIDS diagnosis, your insurance options become more limited but not impossible.

Most simplified issue carriers distinguish between HIV and AIDS in their underwriting guidelines. An AIDS diagnosis typically means you’ve experienced opportunistic infections, your CD4 count has dropped below 200, or you’ve had specific AIDS-defining conditions. In these cases, simplified issue policies will usually deny your application regardless of current viral load or treatment success.

Guaranteed issue policies become your primary option with an AIDS diagnosis. These policies don’t ask about HIV, AIDS, or any health conditions. Many companies offer guaranteed issue life insurance, even some that cater to younger people. The two-year waiting period applies, meaning if you pass away from illness or natural causes within the first two years, your beneficiaries receive premiums paid plus interest rather than the full death benefit.

In summary, if you have AIDS, we can help you obtain a guaranteed issue life insurance policy. Contact us if you have any questions.

Special Life Insurance Options for People with HIV or AIDS

We would be remiss if we did not review the other life insurance options available for people with HIV or AIDS. These below aren’t necessarily burial insurance options, but they are life insurance options that most people with HIV or AIDS would qualify for, subject to state and age limitations.

Guaranteed Issue Term Life Insurance

We are one of the few brokers that work with guaranteed issue term life insurance plans. Guaranteed‑issue term life works the same way as the whole life options above—it guarantees your approval. That means no health questions. You just apply, and you have life insurance.

These guaranteed issue term life insurance plans work well for younger people with HIV or AIDS. The life insurance companies that offer them don’t offer them to seniors over the age of 65. They also work well if the person is on Medicaid and/or receiving SSI. Term life insurance is generally not an asset/resource for Medicaid purposes. However, check with your state if you have questions. We can offer:

  • $50,000 term to age 80 with a 6-month waiting period
  • $75,000 term to age 75 with a 12-month waiting period
  • $20,000 term to age 65 with a 12-month waiting period

As these are guaranteed issue plans, there’s no avoiding the waiting periods.

Almost Guaranteed Issue Whole Life Insurance

We also have “almost” guarantees issue whole life insurance. You can purchase up to $80,000 of whole life insurance with an immediate death benefit. The application contains 3 medical questions, none of which ask about HIV or AIDS. However, one of the questions asks if you have a life expectancy of 12 months or less. If you have AIDS and that is the case, unfortunately, this option is not available.

Funeral Trust

A funeral trust is not life insurance or burial insurance on its own. This trust pays funds directly to a funeral home. The trust holds a whole life insurance policy that you can fund by transferring assets. Anyone can establish a funeral trust, but people mainly use it to move assets quickly so they can qualify for Medicaid. Nevertheless, a funeral trust remains a viable option when you need to qualify for Medicaid quickly but still have countable assets standing in the way.

Group Life Insurance

If you work, group life insurance is a viable option, provided your employer offers it. Without getting into all the details, group life insurance is just how it sounds – a group (i.e., an employer) purchases a group life insurance plan and offers it to eligible employees.

The most common group life insurance offered is term life insurance. Many differences exist between group term life and individual term life. One of the main differences is that not all group term life insurance plans are “portable”. In other words, if you leave the company, you lose your term life insurance. Check with your HR department on the particulars of your group life plan. If your group plan allows portability, you will likely have to convert your term plan into a permanent plan, such as whole life or universal life. The advantage: a conversion typically guarantees approval at standard (healthy) rates.

How People with HIV or AIDS Apply for Burial Insurance

to show the application steps if someone with HIV or AIDS wants to apply for burial insurance

The application process moves faster when you have documentation ready before the first phone call.

Simplified issue carriers don’t require full medical records, but they verify the information you provide with prescription databases and sometimes a phone interview. If the details you give don’t match their records, the application stalls or gets denied. As mentioned earlier, guaranteed issue policies don’t require answering health questions. However, having basic information on hand still speeds up the process.

Here are some helpful tips when applying for burial insurance:

Current medication list: Generic and brand names of all antiretroviral therapy drugs you’re taking, plus dosages. Simplified issue underwriters specifically look for adherence to prescribed regimens. Know your current ART regimen, including whether you’re on a single-tablet regimen or multiple medications.

Date of HIV diagnosis: Month and year. Simplified issue applications are strengthened if you were diagnosed more than five years ago and have maintained stable treatment.

Most recent lab results: Viral load and CD4 count from your last doctor visit. You don’t need to submit these for guaranteed issue, but having them ready helps if the agent recommends trying a simplified issue policy first. Many insurance professionals recommend having lab results from the past six months available.

Treatment history documentation: Be prepared to provide information about your current medication regimen and any changes to your treatment plan in the past 12 to 24 months. Consistency in treatment is a key factor in simplified issue underwriting.

Doctor’s contact information: Name, clinic name, phone number. Simplified issue carriers call to confirm you’re under active care. Guaranteed issue policies skip this entirely.

Beneficiary details: Full legal name, date of birth, Social Security number, and relationship to you. Both simplified and guaranteed issue policies require this at application.

When you are ready, give us a call. Our application process is simple. Just:

  1. contact us
  2. Tell us your health conditions including if you have HIV or AIDS
  3. We will see and discuss what you may qualify for based on your health conditions
  4. You apply
  5. You are approved

It is that simple.

What to Expect After You’re Approved

Your policy goes into effect the moment your first premium payment clears, but full coverage depends on the type of policy you bought.

Simplified issue policies provide full death benefit coverage immediately. If you pass away one week after approval, your beneficiary receives the entire face amount. Graded-benefit policies and guaranteed issue policies have a two-year graded benefit or waiting period. If you pass away from illness or natural causes within those two years, the policy pays a percentage of the death benefit or returns all premiums paid plus interest. If you pass away from an accident during that period, your beneficiary gets the full death benefit. After two years, full coverage applies regardless of the cause of death.

Your premium never increases as long as you keep paying. Burial insurance uses level premiums, meaning the monthly cost you’re quoted at approval stays the same for life. If you’re approved at $85 per month, that rate is locked in even if your health declines or you’re diagnosed with additional medical conditions later.

Policies are portable, meaning they stay active even if you move to another state or change jobs. You don’t need to reapply or notify the carrier unless your contact information, payment information, address, or beneficiary changes. Most carriers allow you to update your beneficiary anytime by submitting a change of beneficiary form online or by mail.

If you stop paying premiums, the policy lapses after a 30-day grace period. Some carriers offer reinstatement within six months if you pay all missed premiums plus interest, but simplified issue policies may require you to reapply and go through underwriting again. Guaranteed-issue policies are easier to reinstate because they require no health evaluation. However, you may have to restart the waiting period.

Burial Insurance Mistakes that People Can Make

As simple as applying for burial insurance is, people still make mistakes. Even guaranteed issue policies can be delayed or complicated if you make these errors during the application.

The biggest mistake is assuming all burial insurance works the same way and applying to the wrong type of carrier.

The second biggest mistake is volunteering more health information than the application asks for when applying for simplified issue policies. Simplified issue policies ask specific yes-or-no health-related questions. Answer exactly what’s asked and nothing more. Same with graded-benefit life insurance plans. Guaranteed issue policies ask no health questions, so there is no worry here.

5 “Don’ts” for People with HIV or AIDS When Applying for Burial Insurance

Don’t apply for coverage amounts you can’t afford. If you request $50,000 in coverage but your income only supports $15,000, you will have a very hard time paying for your policy, and it will ultimately lapse. Who does that help? No one benefits when a policy meant to help your family pay for your funeral falls short.  Burial insurance covers final expenses and funeral costs; it doesn’t replace income. A reasonable coverage amount falls between $10,000 and $25,000.  Funeral industry data shows the national median funeral cost reached $8,300 in 2023, making coverage in this range appropriate for final expense purposes.

Don’t skip doses of your medication before applying. Simplified issue carriers check prescription refill records through databases like Milliman IntelliScript. If your refill pattern shows gaps, they assume poor adherence and deny the application. Guaranteed issue policies don’t check this, but if you’re attempting simplified issue, consistent refills over the past 12 months are non-negotiable.

Don’t lie about other health conditions. Simplified issue applications ask about heart disease, cancer, diabetes, and other diagnoses. If you answer no but the carrier finds contradicting records, they’ll deny the policy and flag your name in industry databases. This makes future applications with other carriers significantly harder. Be honest about everything except guaranteed issue applications that don’t ask.

Don’t confuse HIV with AIDS when answering application questions. Some simplified issue applications ask separately about HIV and AIDS. These are distinct diagnoses with different underwriting implications. If you have HIV but not AIDS, answer only the HIV question truthfully. If you’ve been diagnosed with AIDS, be aware that this will likely result in simplified issue denial, making guaranteed issue your best path forward.

Don’t wait until a health crisis to apply. If you’re hospitalized or your viral load becomes detectable, simplified issue carriers will postpone or deny your application. Guaranteed issue will still approve you, but if you pass away within the two-year waiting period due to illness or natural causes, your beneficiaries will only receive a refund of premiums. Apply when you’re stable, not when your health is declining.

Frequently Asked Questions About Burial Insurance and HIV / AIDS

We answer frequently asked questions about burial insurance for people with HIV or AIDS.

Why do most burial insurance companies decline HIV or AIDS?

Most final‑expense carriers use simplified‑issue underwriting, which includes knockout questions. HIV and AIDS are almost always listed as automatic declines. Only a handful of carriers that we work with will accept people with HIV or AIDS, provided they qualify based on viral load, CD4 count, and other health conditions. Otherwise, guaranteed‑issue policies exist specifically to provide coverage when simplified‑issue plans are not available.

Are premiums higher for people with HIV?

Not necessarily. Premiums are not based on HIV status. They are higher because guaranteed‑issue policies accept everyone without underwriting. The cost reflects the policy type’s risk level, not the diagnosis. People with HIV or AIDS will pay higher premiums if they don’t qualify for the simplified issue plans or the other life insurance plans we outlined. Nevertheless, if you qualify for a guaranteed issue policy, we can structure it at an affordable rate.

Can’t I get traditional life insurance coverage like term life insurance?

Yes. If you have HIV and are in good health otherwise, yes, you can absolutely obtain traditional life insurance policies (link) like term life insurance or whole life policies. We have helped many people with HIV obtain high death benefit term life insurance and whole life insurance. Underwriting is more stringent, but not impossible. With the improvements in medicine and medical research, many life insurance companies now offer traditional term life and whole life insurance to people with HIV.

However, if you have AIDS, traditional policies are unavailable. Your best option is the guaranteed issue policies, as we outlined in the article.

How much burial insurance can someone with HIV or AIDS buy?

Most simplified issue and guaranteed‑issue carriers offer $2,000 to $25,000 in coverage. A few others offer a tad higher amounts. Applicants can also purchase multiple policies from different companies if they need more protection.

Can a guaranteed issue policy be denied for any reason?

Yes, but only for non‑medical reasons, such as:

  • Age outside the carrier’s limits
  • Living in a state where the product isn’t offered
  • Payment method issues

Medical history is never a factor.

Will my family need to prove anything about my HIV or AIDS status when I pass away?

No. Claims require only a death certificate and standard claim forms. Cause of death does not affect payout after the waiting period.

Is it better to buy burial insurance sooner if I have HIV?

Yes! Buying earlier:

  • Locks in lower premiums
  • Starts the two‑year waiting period immediately (assuming a guaranteed issue life insurance policy)
  • Ensures coverage before any future health changes

Now You Know How People With HIV Or AIDS Can Obtain Burial Insurance

Obtaining burial insurance with HIV or AIDS is no longer the obstacle it was a decade ago. The key is applying to the right type of carrier with the right documentation. Simplified issue gets you affordable rates if your health is stable. Guaranteed issue removes all barriers if you don’t meet simplified requirements. We also discussed other life insurance options for people with HIV or AIDS. Either way, your family doesn’t have to carry the financial weight of your final expenses.

Are you ready to learn your options and enroll in a plan? We definitely can help you, as we have with many people with HIV or AIDS. Contact us or use the form below.

Learn More

Are you interested in learning more about the information in this article? Please fill out the form below, and we will email you additional information or give you a call. We always work in your best interest. By entering your information, you are providing your express consent that My Family Life Insurance may contact you via e-mails, SMS, phone calls, or prerecorded messages at any phone number(s) that you provide, even if the number is a wireless number or on any federal or state do-not-call list. Additionally, you understand that calls may be placed using automated technology, and that consent is not a requirement for purchase. Your information will NOT be sold and will remain private. However, you may opt out at any time. We respect your privacy first and foremost. By contacting us, you agree to receive text messages from our number (800) 645-9841. If you no longer wish to receive text messages, you may opt out at any time by replying "STOP".

 

3 Affordable Burial Insurance Options For Overweight People | No Matter Your Situation, We Can Likely Help You Obtain Burial Insurance

Updated: October 12, 2024 at 12:28 pm

Most people who are overweight or obese think they can’t obtain burial insurance, but that is not true.

If you are overweight or obese, you can obtain burial insurance. Moreover, you can obtain burial insurance rather easily and at an affordable price.

In fact, you may have many options available to you.

How great is that?

Continue reading 3 Affordable Burial Insurance Options For Overweight People | No Matter Your Situation, We Can Likely Help You Obtain Burial Insurance

Best Low Cost Burial Insurance For Seniors 2025 | Your Guide To Selecting The Right Burial Insurance For Your Situation

Updated: January 26, 2025 at 10:46 am

Many people and seniors ask me if we have low cost burial insurance available.

We do, and we at My Family Life Insurance have more options compared to other agents or brokers.

You see, many seniors go online or see an ad on TV about burial insurance and think that is the right carrier.

They then find out the burial insurance is going to be very expensive (for a variety of reasons we will discuss later). They then stop looking for this important insurance because they think burial insurance is all the same.

Burial insurance isn’t the same. Although the end result (paying a death benefit for your funeral expenses and final needs) is the same, how burial carriers asses your situation is different. No two carriers are the same.

This means many low cost burial insurance carriers exist. Additionally, many agents and brokers overlook these valuable, low-cost options.

In this article, we will discuss:

Let’s jump in and level set about burial insurance.

What Is Burial Insurance?

Here is a secret. Burial insurance is simply a whole life insurance policy (typically. More on that in a minute.) with a small death benefit like $15,000 or $25,000. The life insurance industry calls it “burial insurance” because it is an easy way to describe its main intention – to pay for your burial expenses and final expenses upon your death.

That is all it is.

Consequently, you may hear or read different terms describing burial insurance. Some other names describing burial insurance include:

  • final expense insurance
  • funeral insurance
  • final expense life insurance
  • end-of-life insurance
  • final expense policy
  • burial policy
  • senior life insurance
  • burial life insurance

These all mean the same thing. These policies are typically whole life policies designed to pay for:

  • funeral costs including your memorial service, if any
  • burial plot and headstone
  • medical bills
  • your outstanding debts
  • other end-of-life expenses

How Burial Insurance Works

These burial insurance plans have some key advantages. First, they pay a lump

How burial insurance works.

sum death benefit amount directly to your named beneficiary who can pay for your funeral. Additionally, many of these carriers allow you to assign all or part of the death benefit to a funeral home, mortuary, etc. That is a nice option. This brings us to the final advantage. Burial insurance policies help ease the financial burden placed on your loved ones and family members after your death. 

As we discussed, the death benefit usually runs up to $25,000. Some policies allow for a greater death benefit.

According to the National Funeral Directors Association, the average cost of a funeral is about $7,500. As such, these burial insurance plans work well to pay for your funeral, final arrangements, and other related costs.

Additionally, applying for these burial insurance plans is easy. Carriers don’t require a medical exam. We discuss more in our underwriting section.

How To Find Low Cost Burial Insurance – Underwriting!

The key to finding low cost burial insurance is underwriting. Underwriting is simply the process of analyzing risk. In your case, the risk is too early of death.

Oh geez, John. Am I going to have to go through exams and take a blood test? 

No. The great news is that burial insurance traditionally has an easy underwriting process. The list below shows what burial insurance carriers look at when assessing your risk (i.e. the risk of dying too soon):

  • age
  • gender
  • nicotine use status (note: marijuana use is usually OK)
  • any health issues – carriers cover many medical conditions such as heart issues, bipolar disorder, diabetes, etc.

They do this by:

  • looking up your medical history through the MIB
  • prescription drug history
  • a possible phone interview
  • answers to a health questionnaire (i.e. an application)

Essentially, the better your health, the more low cost burial insurance options you will have. We will show more in a minute.

The application is probably one of the easiest components of the burial insurance process. Every carrier has a list of health questions to answer related to specific health conditions. The great thing about burial insurance underwriting is that all of the carriers don’t usually consider common ailments like high blood pressure or high cholesterol. If you have these ailments only, you can obtain burial insurance rather easily. 

Additionally, carriers will cover serious health problems. People with or who have had cancer, heart problems, stroke, sleep apnea, COPD, surgeries, or other major illnesses or health conditions can obtain low cost burial insurance. 

Burial Insurance Application And Process

The application and approval process is simple. You just answer and fill out an application containing a “yes/no” health questionnaire and then the carrier looks up your medical history. If all checks out, you are approved for burial insurance. 

A typical question on the application could go something like this. 

Within the past 2 years, has the proposed insured been diagnosed with, prescribed medication for, or had or been advised to have treatment for chronic obstructive pulmonary disease or emphysema?

You just answer “yes” or “no” on the application. They will then look up your medical history through the MIB and your prescription drug history. Most burial insurance carriers have eliminated the phone interview (although a handful still requires it). 

If all checks out, then you will likely obtain immediate coverage burial insurance.

What do you mean by “immediate coverage” burial insurance, John?

This might be a good time to introduce the types of burial insurance. 

Types Of Burial Insurance Plans For Seniors

A few types of burial insurance exist for seniors.

The types available to you are directly proportional to your health and how carriers underwrite. It is that simple.

The first one is called an immediate death benefit. Some carriers call it a level benefit plan. 

They mean the same thing. It means if you pass away, anytime, your family receives the death benefit. It doesn’t matter if you pass away 3 months after your policy is in force or 20 years later.

An immediate death benefit plan is what you want. Not only is the full death benefit available to you (more on that in a minute), but also it is likely the lowest-cost option. Immediate death benefit plans are available for those people in good health.

The second is called a graded death benefit plan. People with recent, serious health conditions usually get graded benefit plans. For example, people who have had a stroke or heart attack within the last couple of years usually only qualify for a graded death benefit plan. 

Graded benefit means that your beneficiary receives a percentage of the death benefit if you pass away from natural causes or illnesses in the first couple of years. For example, if you die from a heart attack in the first year, your beneficiary may receive 10% of the death benefit.

Guaranteed Issue Whole Life Insurance For Seniors

Finally, the remaining plan is called guaranteed issue whole life insurance. Only the seriously ill are eligible for this type of policy. Guaranteed issue is just how it sounds. You apply and have life insurance. No underwriting exists.

However, it is also the most expensive option (usually). Additionally, because carriers do not underwrite, they place a waiting period on the death benefit, which is usually 2 years. That means if you die from any natural causes or illnesses during the waiting period, then your beneficiaries receive the premiums you paid + any interest. These plans cover accidental death during the waiting period.

Note: if you have a terminal illness, then really no burial insurance option is right for you. You are best to save your money or work directly with a funeral home.

Popular Burial Insurance Carriers For Seniors

We aren’t going to belabor what’s been written on the internet already. You came here for low cost burial insurance, not the same-old-same-old information. Look up “low cost burial insurance” in Google or anywhere else, and you will find “guides”, “best of”, “best companies”, and “top 10 lists” of these supposedly “low cost” burial insurance policies.

You will see lists containing Mutual of Omaha, Transamerica, Royal Neighbors, etc, etc. These are all very good and well-capitalized carriers. They offer traditional whole life insurance policies that are the common structure of burial insurance. We offer these carriers to our clients as well.

Other popular carriers include the ads you see on TV. Colonial Penn, in particular, advertises a lot on TV.

These TV options may not be in your best interest. As we wrote in our article about Colonial Penn, they may not be worth the money. For example, Colonial Penn’s “995” plan is strictly a guaranteed acceptance life insurance policy. It is guaranteed issue. Their commercials sound and look good. However, they do not offer the lowest rates and may not be the best option for your situation. What if you are generally healthy? If you purchase Colonial Penn, you will be spending (likely) thousands of dollars more per year than you have to. Moreover, you have the waiting period to contend with.

Our goal in working with you is to find the lowest cost, immediate coverage burial insurance policy you can find for your given situation. For example, your choices of carriers are very limited if you have type 1 diabetes or had cancer 2 years ago.

Additionally, if your monthly premium is $100, and you have immediate coverage, then that is the best choice.

Having said all this, we introduce 2 low cost burial insurance options for seniors.

The Best Low Cost Burial Insurance For Seniors

We have two different, low cost options for seniors looking to save money on their burial insurance.

Yes, that is right. Low cost burial insurance does exist.

We describe them next.

The application process is a bit similar to that of traditional burial insurance. Both options offer a simplified application process where you likely won’t need to submit a paramedical exam.

Some of these aren’t final expense policies in the traditional sense. However, they are life insurance policies. Remember, burial insurance is simply a whole life insurance policy that pays a small, lump sum death benefit.

Guaranteed Universal Life Insurance

Often overlooked as burial insurance, guaranteed universal life (GUL) is an interesting option. Guaranteed universal life insurance is considered a permanent life insurance plan like whole life. However, guaranteed universal life operates much differently than whole life, specifically with the cash value.

The cash value in a comparable whole life policy, increases over time. It is a stable policy with guaranteed cash value and non-guaranteed cash value. Carriers guarantee the monthly premiums, too. As we said before, traditional burial insurance is a whole life policy with a small death benefit.

to discuss 2 low cost burial insurance options: GULs and fraternal life insurance.Without getting in the weeds, however, a traditional universal life insurance policy doesn’t have all those guarantees. You can pay as little as you want or more than the “target” premium. While paying little sounds great, doing so has potentially dire consequences with your universal life policy. If not enough cash value exists to support the cost of insurance, and you aren’t going to pay more into the policy, the policy itself terminates. 

However, not with guaranteed universal life insurance!  As long as you pay the target premium, the GUL keeps going, even if there is no cash in the policy. The fact there is limited cash provides a low cost burial insurance option.

Here is a premium comparison for $25,000 of burial insurance for a healthy, 60 year old non-smoking woman.

With whole life insurance, she could expect to pay, at minimum, around $98 per month.

With a GUL, the same woman could pay around $70 per month – a $28 difference per month.

Guaranteed Universal Life Insurance Helps With Medicaid

Additionally, since there is likely no cash value in the later years of the policy, she likely won’t have to worry about losing her burial insurance through the Medicaid spend down process.

The underwriting process is simplified, but a little more stringent. I would say you have to be more “healthy” than someone who can qualify for traditional burial insurance. However, even if you take a couple of basic medications and have good height/weight, you will qualify.

We have helped many people enroll in GULs for burial insurance. I am sure we can help you, too. 

Not-For-Profit Life Insurance

Why pay more when you can get the same product, essentially, for less?

Let’s compare two cars. They are the same. Same engine. Same color. The suspension is the same. The safety rating is also the same. Same radio, too. Maybe with the exception of a few nuances, they are essentially the same. Would you spend an extra $15,000 on one of the cars? Yeah, likely not! The same goes for burial insurance. There are a lot of burial insurance carriers available. They are all essentially the same. We discussed that nuances among carriers exist, usually with underwriting, but they all are generally the same. If you could purchase your burial insurance for less money, wouldn’t you? Yeah, that is right, you would. 

Many people don’t realize that there are life insurance carriers that are “not-for-profit”. I know. Crazy, right?

What Are Not-For-Profit Life Insurance Carriers?

Carriers that offer not-for-profit life insurance are called fraternal benefit societies. These societies were initially established for a certain sect of people. For example, many European immigrants established these societies here in the US to help their fellow kind as well as to create social events. Over time, some religions developed fraternal benefit societies (for example, the Catholic Order of Foresters). Today, while these societies exist, many have evolved and opened to anyone with a common, social goal.

The American Fraternal Alliance has more information about fraternal benefit societies. They are not-for-profit. Any profits they make, within IRS guidelines, must be issued back through the fraternal society, back to its members and communities. In other words, the profits go back to you in the form of member benefits, charitable giving, and other social events.

Additionally, the not-for-profit status makes, in general, life insurance rates comparatively less than their for-profit counterparts. Why? They are not beholden to profits, but rather that not-for-profit, social mission. Let’s use that example again of the 60 year-old, non-smoking woman looking for $25,000 of burial insurance.

She could purchase that $25,000 through a for-profit carrier at $98 per month. Or…

She could purchase that $25,000 through one of the fraternal carriers we work with for $61 per month!!!

Wow!!

Moreover, the above fraternal premium assumes dividend-paying paid-up additions. Most fraternal benefit societies offer paid-up additions on their whole life insurance. This means the fraternal life insurance certificate is dividend-paying. You receive dividends back and can elect to purchase more life insurance with these dividends.

What could you do with $37 per month savings? I bet a lot.

More On Fraternal Life Insurance And Fraternal Societies

A lot of agents like to disparage fraternal societies. They say their financials aren’t strong, they are smaller (in asset size), and they can’t serve customers, or their AM Best rating is inadequate.

Many of these anecdotes are completely not true. Many of these societies have been around since the mid and late 1800s and have seen every economic crisis in the United States. War. The Great Depression. Economic Growth. Recessions. You name it. They have paid their claims and haven’t skipped a beat.

Additionally, many of them are conservative with their member’s money. Don’t you want your money to be there when you need it the most? Of course, you do. And, yes, some of their AM Best ratings aren’t “A” like the for-profit carriers. They might be B+. Is that a bad thing? Some agents say “yes”; however, many of these fraternals have stronger solvency ratios, liquidity, and reserves/surplus than their for-profit counterparts. That is something these agents don’t talk about. They are just small carriers.

It is important to note that we are neither for nor against fraternal benefit societies. We are for YOU! If that means a for-profit serves your situation better, that is what we will recommend. If a fraternal carrier does, then obviously that is what we will recommend. We are not beholden to any life insurance carrier or commission. We are beholden to serving you.

However, we do work with many more fraternal carriers than the average broker. Contact us if you would like to learn more.

We introduce premium comparisons next. Of course, premiums are examples and subject to change.

Low Cost Burial Insurance For Seniors In Their 50s And 60s

Here are some low cost burial insurance comparisons for seniors in their 50s and 60s. These are example purposes only and premiums are subject to change. Additionally, available burial insurance options depend on your specific situation. If you would like to quote your own burial insurance, feel free to use the quoter below:

As you can see, the GUL and fraternal carriers are more competitive on average compared to traditional burial insurance:

to show cost comparison of low cost burial insurance for seniors in their 50s and 60s

Low Cost Burial Insurance For Seniors In Their 70s

Here are additional comparisons for burial insurance for seniors in their 70s.

to show low cost burial insurance comparisons for seniors in their 70s

Low Cost Burial Insurance For Seniors In Their 80s

As seniors age, the cost of burial insurance increases. GULs and fraternal carriers remain competitive, assuming seniors qualify.

to compare low cost burial insurance options for seniors in their 80s

Note: not many options exist for seniors in their 90s.

How To Apply For Low Cost Burial Insurance

Applying for burial insurance is easy. All you need to do is:

(1) contact us

(2) tell us your situation, including any health conditions and medication

(3) we prequalify you with carriers, many which are low cost

(4) you apply with us over the phone

(5) you are approved

It is really that simple. 

Frequently Asked Questions About Low Cost Burial Insurance For Seniors

Here are some frequently asked questions about low cost burial insurance.

Can I Buy Burial Insurance For My Parents?

Yes, you can buy burial insurance for your parents. You and your parents just need to be on the phone with us during the application process. You can always contact us beforehand and prequalify your parents. We just need to know your parent’s health history including any medication they are on.

We then get on a call to enroll your parents over the phone.

As said before, as long as you are transparent with your parent’s health conditions and medication, we should be able to get them the burial insurance they need, including options from the low cost carriers we discussed.

What Are The Age Limits To Buy Burial Insurance?

The age limits usually are between 50 and 80; however, some carriers go as low as age 18. Only very few carriers offer burial insurance after the age of 85. Contact us for more information. 

Does Burial Insurance Pay For My Funeral?

Yes, burial insurance can pay for your funeral and burial costs. You select a trusted loved one as the beneficiary who will pay for your funeral or assign all or part of the death benefit to the funeral home.                

Does Burial Insurance Cover Accidental Death?

Yes, burial insurance (and the other life insurance plans we discussed) all cover accidental death. As we discussed, Immediate or level benefit plans pay a benefit on day 1 for any type of death. Graded and guaranteed issue plans are set up differently. They have a waiting period. These plans will always pay for an accidental death, anytime. If you pass away during the waiting period from illness or natural causes, your beneficiary receives a percentage of the death benefit or the premiums you paid + interest. After the waiting period, the carrier pays 100% of the death benefit.                

Do Pre-Need Plans Work?

Pre-need plans are funeral or burial plans purchased directly from the funeral home. They can work, but I believe having some type of life insurance in your name offers way more flexibility than working directly with a funeral home. We discuss many of the advantages and disadvantages of pre-need plans in our guide to having life insurance pay for your funeral. We also discuss many of the advantages life insurance contains over these pre-need plans.                

What Are Plans That I Should Not Buy?

Many life insurance products exist that do not work well. Here are a few plans that you should not buy unless these are your only options based on your situation:

(1) term life insurance policy – these policies are great for your unexpected death. Additionally, they only last a term, like 20 years. What happens if you are still living after the term expires? Your family gets no death benefit.

However, if you want coverage for your funeral, a permanent life insurance policy like the ones we discussed in this article works. As long as you pay the premium, the death benefit coverage amount is guaranteed and goes right to your beneficiaries. 

(2) pre-need plans – we discussed this previously. Pre-need plans lack the flexibility of burial insurance policies or permanent life insurance policies. Moreover, they are generally more expensive. We discuss many of the disadvantages of pre-need plans. 

(3) guaranteed issue life policies – These are good policies, but are reserved for people who have severe health conditions or lifestyle situations. The reason why I say you should not buy them is because most people qualify for something better. However, as I said, if this is all you can get, then these are good policies.

Can I Lie On The Life Insurance Application?

No. Carriers have ways of finding out if you lie nowadays. Don’t even think about lying on the life insurance application. As one underwriter told us, paraphrasing, if we feel the applicant is conscientiously lying, we will decline. Carriers have ways of finding out things, so be truthful.  

Now You Know Seniors Can Get Low Cost Burial Insurance

We hope you enjoyed this article on low cost burial insurance options for seniors. While traditional burial insurance is available, we have helped many individuals obtain low cost burial insurance through:

  • guaranteed universal life insurance and
  • whole life insurance policies issued through fraternal carriers

What is the right choice for you? That is where we can help. In every case, the right solution is the one that fits your needs and situation. Not someone else’s and definitely not the life insurance agent’s interest.

We at My Family Life Insurance pride ourselves on serving our clients with their best interests first. It is the only way we know how. If you were presented with a burial insurance plan and want to know your other options, or want to work with an agency that values you and your family, contact us, or use the form below. We would be happy to help and serve you in any way we can.

Learn More

Are you interested in learning more about the information in this article? Please fill out the form below, and we will email you additional information or give you a call. We always work in your best interest. By entering your information, you are providing your express consent that My Family Life Insurance may contact you via e-mails, SMS, phone calls, or prerecorded messages at any phone number(s) that you provide, even if the number is a wireless number or on any federal or state do-not-call list. Additionally, you understand that calls may be placed using automated technology, and that consent is not a requirement for purchase. Your information will NOT be sold and will remain private. However, you may opt out at any time. We respect your privacy first and foremost. By contacting us, you agree to receive text messages from our number (800) 645-9841. If you no longer wish to receive text messages, you may opt out at any time by replying "STOP".

Types of Burial Insurance

Updated: April 12, 2024 at 9:39 am

showing the couple the types of burial insuranceYou may hear from your friends, family, neighbors, or even Alex Trebek that you need burial insurance. If you think you do, it is important that you know the types of burial insurance available. There are so many kinds and types. In this article, we discuss the various types of burial insurance, so you can make an informed decision. First, we will discuss what burial insurance is, and then discuss the types available.

There can be many options, and those options depend on your health situation. There are also low-cost burial insurance options and ways to protect your burial insurance if you need to go into a nursing home. We will discuss those options as well.

Continue reading Types of Burial Insurance

Burial Insurance For Sickle Cell Anemia

Updated: April 12, 2024 at 9:39 am

to describe differences of sickle cell anemia for burial insuranceRecently, we spoke to a woman who was looking for burial insurance for her husband. She was looking for life insurance to cover his burial and funeral expenses. This is a common reason for burial insurance. She explained to us that he had a health condition, which is no big deal. We all have health conditions. And, burial insurance fits nicely for people with health conditions. However, the health condition he has is sickle cell anemia. Sickle cell anemia changes your life insurance and burial insurance options.  There are still options, but not as many.

In this article, we discuss affordable burial insurance for people with sickle cell anemia. We first discuss burial insurance underwriting and then discuss your options for burial insurance for people with sickle cell anemia.

Continue reading Burial Insurance For Sickle Cell Anemia