Years ago, when we saw life insurance being primarily a death benefit and lacking living benefits that consumers preferred, new products were developed but final expense insurance remained a cornerstone product for America. Burial insurance for seniors is alive and well in America.

With the costs of a funeral, cremation, and burial services rising at least every five years, it certainly makes great financial sense to purchase coverage that contains a cushion that will allow for rising costs. Currently, there is a gaggle of companies that push final expense insurance products that target seniors. Most use the agency distribution network but some are allowing consumers to bypass the agent and purchase directly from the company.

When we review all of the plans available, there always a few carriers that stand out because of product, pricing, and outstanding service. In this article, we’ll discuss those few carriers that continually lead the pack in the minds of consumers and agents as well.

Although most life insurance providers offer life insurance policies with a lower death benefit, such as $35,000 to $50,000, burial insurance policies typically have a death benefit even lower than that. Using the latest stats from various funeral and burial providers, a burial policy can be as little as $10,000 in coverage because that is the typical cost of a moderately priced funeral. In fact, for seniors who prefer cremation with a small memorial service, a $10,000 burial policy is likely to be more than enough to provide the funds for this type of service

Let's consider the aspects of an average funeral and the related costs to the survivors:

According to Parting.Com, one of the leading funeral comparison websites, an average funeral can be rather expensive depending on where you live:

Today, the average North American traditional funeral costs between $7,000 and $10,000.  This price range includes the services at the funeral home, burial in a cemetery, and the installation of a headstone.  While cremation is gaining in popularity, the traditional funeral is still the most popular manner for disposing of the deceased.

Here is a reasonable "ballpark" estimate of the main funeral costs.

It's important to notes that funeral prices vary considerably between funeral homes and geographic areas of the country,


  • fee for the funeral director's services: $1,500
  • cost for a casket: $2,300
  • embalming: $500
  • cost for using the funeral home for the actual funeral service: $500
  • cost of a grave site: $1,000
  • cost to dig the grave: $600
  • cost of a grave liner or outer burial container: $1,000
  • cost of a headstone: $1,500


In this example, total costs would approximate $9,000....and that's just for the "main" items.  There could be additional charges for things like placing the obituary in the newspaper and buying flowers.” Read entire article…

Now that we have a good idea of the cost of a burial, let’s consider the 3 top companies that provide burial insurance for seniors.

Transamerica Life Insurance Company

Transamerica provides several options for burial insurance for seniors including their Immediate Solution, Easy Solution, and 10-Pay Solution products. Since their products are available for applicants aged 0 to 85-years-old, their insurance products offer substantial flexibility for all ages and all health classes with graded terms. Transamerica’s 10-Pay Solution allows the policyholder to pay off the policy in 10 years and then have lifetime protection.

Face Amounts provided: $1,000 to $50,000 (applicants 76 or older are capped at $25,000)

Coverage Type: Level benefit and Graded.

Typical rates for seniors in average health who do not use tobacco for a $10,000 death benefit:

Transamerica Life

Age Group Male Female
60 years old $43.81 $34.74
65 years old $56.33 $41.62
70 years old $74.66 $53.99
75 years old $100.33 $72.89
80 years old $140.22 $104.11
85 years old $200.43 $148.62

For accurate rates based on your actual age, please use our world-class quote engine.

Family Benefit Life Insurance Company

Family Benefit Life is another top-rated burial insurance company and provides coverage for seniors with their Golden Eagle Final Expense insurance product. Golden Eagle is a permanent whole life insurance policy available as a simplified issue or as a graded death benefit.  The simplified issue product is for issue ages 50 to 85 with a minimum death benefit of $2,500 to a maximum of $25,000.  The graded death benefit product is for issue ages 50 to 80 with a minimum death benefit of $2,000 to a maximum of $10,000.  An Accelerated Living Benefit Rider for Terminal Illness or Nursing Home Confinement is included.

burial insurance for seniors

Age Group Male Female
60 years old $41.74 $32.60
65 years old $53.75 $41.28
70 years old $69.23 $52.03
75 years old $96.58 $71.64
80 years old $145.79 $104.83
85 years old $192.49 $155.23

When comparing final expense pricing, be sure to note the difference in pricing between males and females.

LifeShield National Insurance Company

LifeShield National Insurance Co. was incorporated in 1982 as an Oklahoma domiciled insurance company and is part of the Midland Group of Companies that include MidFirst Bank. As an affiliate of the Midland Group, it was initially formed to aid mortgage servicing customers by offering insurance products through direct mail and in-home sales. Since that time, it has grown to encompass a wide variety of protection related products.

Typical rates for seniors in average health who do not use tobacco for a $10,000 death benefit:

lifeshield national logo

Age Group Male Female
60 years old $38.13 $33.26
65 years old $47.35 $40.79
70 years old $62.29 $52.32
75 years old $83.46 $71.18
80 years old $120.42 $101.18
85 years old $169.72 $138.20

Although very competitive, LifeShield is a relatively unknown insurer to most American seniors. We suggest you compare the rates for these three companies and select the one that provides the most affordable rates for your particular situation.


We are Here to Listen
For more information about burial insurance for seniors, or to get a free and confidential insurance quote, use our world-class quote engine, or contact us through our website at your convenience.


Terry Biddle is a business owner, blogger, retired Army National Guard officer and a current federal employee. He works with seniors, federal employees, and members of the military to get the most life insurance benefits at the greatest value across the full spectrum of term and permanent products from fully underwritten to no-exam and guaranteed issue. Please feel free to contact me here.

Last Updated on May 10, 2018 by lifepolicyshopper