Best Burial Insurance Companies (2026): Plans Compared

Reviewed: March 2026 Sources: NAIC, AM Best, State Insurance Departments, NFDA Editorial: Our Standards

Burial insurance -- also called final expense insurance -- is one of the most practical ways to ensure your family is not burdened with funeral costs. But with dozens of companies competing for your business through TV commercials, direct mail, and online ads, it can be difficult to know which provider offers the best value for your situation. We researched and compared seven of the most prominent burial insurance companies in 2026, examining their coverage options, premium ranges, financial strength, acceptance criteria, and claims process. This guide provides honest, side-by-side comparisons so you can make an informed decision without the sales pressure.

Quick Overview: Top Burial Insurance Companies

7 Companies compared in this guide
$5K – $50K Coverage range across providers
$25 – $300+ Monthly premium range by age and health

All seven companies we review are well-established insurers with strong or adequate financial ratings. However, they differ significantly in who they are best suited for. Some specialize in healthy applicants seeking the lowest rates, while others focus on guaranteed acceptance for people with serious health conditions. Understanding these differences is key to finding the right fit.

Before diving into individual companies, here are our top-level picks:

Company Comparison Table

The following table provides a snapshot comparison of all seven companies. Scroll right on mobile to see all columns.

Company AM Best Rating Coverage Range Issue Ages Policy Types Payout Speed
AARP / New York Life A++ (Superior) $5,000 – $25,000 50 – 80 Level, Guaranteed Issue 2 – 4 weeks
Mutual of Omaha A+ (Superior) $2,000 – $40,000 45 – 85 Level, Graded, Guaranteed 2 – 3 weeks
AIG Direct A (Excellent) $5,000 – $50,000 50 – 80 Level, Simplified, Guaranteed 2 – 4 weeks
Globe Life A (Excellent) $5,000 – $50,000 45 – 85 Simplified, Guaranteed 3 – 6 weeks
Colonial Penn A- (Excellent) $400 – $25,000 50 – 85 Guaranteed Issue Only 3 – 6 weeks
Lincoln Heritage A- (Excellent) $5,000 – $50,000 40 – 85 Level, Simplified, Guaranteed 1 – 3 weeks
Gerber Life A (Excellent) $5,000 – $25,000 50 – 80 Level, Guaranteed 2 – 4 weeks
What the AM Best ratings mean: AM Best is the leading credit rating agency for the insurance industry. An A++ or A+ rating indicates superior financial strength and ability to pay claims. An A or A- rating indicates excellent financial strength. All seven companies on this list carry strong ratings, meaning your beneficiaries can have confidence in their ability to pay death benefits.

Monthly Premiums by Age: How the Companies Compare

The following table shows approximate monthly premiums for a $10,000 standard issue policy for a non-smoking male in 2026. Female rates are typically 15 to 25 percent lower. Actual rates vary by individual health profile and state.

Age AARP / NYL Mutual of Omaha AIG Direct Globe Life Colonial Penn Lincoln Heritage Gerber Life
50 $32 $28 $30 $35 $55* $31 $33
55 $42 $36 $38 $45 $68* $40 $43
60 $58 $50 $52 $60 $88* $55 $60
65 $80 $68 $72 $82 $115* $75 $82
70 $110 $95 $100 $115 $155* $105 $115
75 $155 $135 $140 $165 $210* $150 $160
80 $220 $190 $200 $235 $290* $215 $225

* Colonial Penn rates reflect their guaranteed issue product (no health questions). Their unit-based pricing means you purchase "units" of coverage, and these rates represent the approximate monthly cost to accumulate $10,000 in coverage. Other companies' rates shown are for standard issue policies that require health qualification.

Key insight: Mutual of Omaha and AIG Direct consistently offer the most competitive rates for healthy applicants. Colonial Penn costs more per dollar of coverage because they accept everyone regardless of health -- you are paying a premium for guaranteed acceptance. If you can qualify for a standard or simplified issue policy elsewhere, you will save significantly.

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AARP / New York Life

The AARP burial insurance program is underwritten by New York Life, one of the largest and most financially secure insurance companies in the United States. This partnership combines AARP's trusted brand recognition with New York Life's A++ (Superior) AM Best rating and over 175 years of financial stability.

Coverage Details

Pros

Cons

Best for: AARP members who value the security of New York Life's unmatched financial rating and want a straightforward policy from a trusted brand. Particularly appealing for those aged 50 to 70 in good health.

Mutual of Omaha

Mutual of Omaha is widely considered the gold standard in the burial insurance market. Their Living Promise whole life product offers competitive rates, flexible coverage amounts, and multiple policy tiers to accommodate applicants across the health spectrum. With an A+ (Superior) AM Best rating and over a century of operational history, Mutual of Omaha combines reliability with value.

Coverage Details

Pros

Cons

Best for: Most applicants, particularly healthy individuals aged 45 to 75 seeking the best combination of low rates, high coverage limits, and financial strength. Our top overall recommendation for the majority of burial insurance shoppers.

AIG Direct

AIG Direct, the consumer-facing brand of American International Group, offers burial and final expense insurance through a streamlined online application process. Their digital-first approach makes it easy to get quotes, compare options, and apply without speaking to an agent. AIG carries an A (Excellent) AM Best rating backed by one of the world's largest insurance organizations.

Coverage Details

Pros

Cons

Best for: Tech-savvy applicants who prefer an online experience, healthy individuals seeking competitive rates, and those who want higher coverage amounts up to $50,000.
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Globe Life

Globe Life (formerly Torchmark Corporation) is one of the most heavily advertised burial insurance providers in the United States. You have likely seen their TV commercials and direct mail pieces promising coverage for as little as "$1 a day." They offer simplified issue policies that ask limited health questions and guaranteed issue options for those who cannot qualify elsewhere. Globe Life carries an A (Excellent) AM Best rating and has been in operation since 1951.

Coverage Details

Pros

Cons

Best for: Applicants who are comfortable with phone and mail applications and want a widely recognized brand. Particularly suitable for those with moderate health conditions who can qualify for simplified issue coverage.

Colonial Penn

Colonial Penn, a subsidiary of CNO Financial Group, is best known for its guaranteed acceptance life insurance -- the product heavily advertised by the late Alex Trebek and now by other spokespeople. Their unique "units" pricing model means everyone of the same age and gender pays the same price per unit of coverage, regardless of health. Colonial Penn carries an A- (Excellent) AM Best rating.

Coverage Details

How the Unit System Works

Colonial Penn sells coverage in "units." Each unit provides a specific amount of death benefit based on your age and gender at the time of purchase. For example, a 65-year-old male might get approximately $650 per unit at a cost of around $9.95 per month per unit. To accumulate $10,000 in coverage, you would need approximately 15 to 16 units, costing around $150 to $160 per month. Younger applicants get more coverage per unit.

Pros

Cons

Best for: Applicants aged 50 to 85 with serious health conditions who cannot qualify for coverage elsewhere. If you are in good health, you will get significantly better rates from Mutual of Omaha, AIG Direct, or other standard issue providers.

Lincoln Heritage

Lincoln Heritage Life Insurance Company has carved out a unique niche in the burial insurance market through its agent-driven model and strong presence in Hispanic and Latino communities. Their "Funeral Advantage" program bundles a whole life policy with a funeral planning benefit that assigns a personal planning representative to help your family at the time of need. Lincoln Heritage carries an A- (Excellent) AM Best rating.

Coverage Details

Pros

Cons

Best for: Applicants who prefer working with a local agent in person, Spanish-speaking families, and those who value the Funeral Advantage planning benefit. Competitive rates make it a strong alternative to Mutual of Omaha.

Gerber Life

Gerber Life Insurance Company, a subsidiary of Western & Southern Financial Group, is best known for children's life insurance but also offers a competitive guaranteed life insurance product for adults aged 50 to 80. Their guaranteed issue policy is straightforward and comes from a company with an A (Excellent) AM Best rating and a long history of serving families.

Coverage Details

Pros

Cons

Best for: Families who already have a relationship with Gerber Life (through children's policies) and want to add burial coverage, or applicants who prefer a well-recognized consumer brand.
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How to Choose the Right Burial Insurance Company

With so many options, selecting the right burial insurance company comes down to your specific needs and circumstances. Here is a practical framework for making your decision:

Step 1: Determine How Much Coverage You Need

Start by estimating your total funeral costs. The national average funeral in 2026 costs approximately $8,300 for burial or $6,500 for cremation (including viewing). You may also want to cover outstanding medical bills, credit card debt, or other final expenses. Most families find that $10,000 to $15,000 provides adequate coverage. Use our funeral cost breakdown to estimate your specific needs.

Step 2: Assess Your Health Status

Your health determines which type of policy you can qualify for and dramatically affects your premium:

Step 3: Compare Rates for Your Age and Health

Get quotes from at least three companies. Rates vary significantly between providers, and the cheapest option for a 55-year-old may not be the cheapest for a 75-year-old. Always compare apples to apples: the same coverage amount, same policy type, and same payment terms.

Step 4: Check the Financial Rating

Stick with companies rated A- or higher by AM Best. A burial insurance policy is a long-term commitment, and you need confidence that the company will be financially stable when your family files a claim, which could be decades from now. All seven companies reviewed in this guide meet this standard.

Step 5: Read the Policy Terms Carefully

Before signing, understand the waiting period, graded benefit terms, free-look period, and cash surrender value provisions. Ask about what happens if you miss a payment, and how the claims process works for your beneficiary.

What to Watch For When Buying Burial Insurance

The burial insurance market has its share of misleading practices. Protect yourself by watching for these common issues:

For more on protecting yourself from predatory insurance practices, see our funeral insurance comparison guide and our complete funeral insurance guide.

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Frequently Asked Questions

What is the best burial insurance company in 2026?

There is no single best company for everyone. Mutual of Omaha is widely regarded as the best overall for most applicants due to competitive rates, strong financial ratings, and fast claims processing. AARP/New York Life is excellent for AARP members seeking trusted brand recognition. For guaranteed issue coverage with no health questions, Colonial Penn and Globe Life are popular choices, though premiums are higher.

How much does burial insurance cost per month?

Monthly premiums depend on your age, health, gender, and coverage amount. For a $10,000 policy, a healthy 55-year-old might pay $30 to $55 per month, a 65-year-old might pay $55 to $110, and a 75-year-old might pay $100 to $200. Guaranteed issue policies with no health questions cost 50 to 100 percent more than standard policies. Women generally pay 15 to 25 percent less than men for the same coverage.

Can I get burial insurance with pre-existing conditions?

Yes. Many burial insurance companies offer simplified issue policies that accept applicants with common health conditions like diabetes, high blood pressure, or heart disease. If you have more serious conditions, guaranteed issue policies from companies like Colonial Penn, Globe Life, and Gerber Life accept all applicants with no health questions, though they include a two to three year waiting period before the full benefit is payable.

What is the difference between burial insurance and final expense insurance?

Burial insurance and final expense insurance are the same product marketed under different names. Both are small whole life insurance policies, typically between $5,000 and $25,000, designed to cover funeral and end-of-life costs. The death benefit goes to your named beneficiary, who can use it for any purpose. Insurance companies use different terminology for marketing reasons, but the policy structure is identical.

How fast do burial insurance companies pay claims?

Most reputable burial insurance companies process and pay claims within 30 to 60 days. Some, like Mutual of Omaha and AIG Direct, have streamlined claims processes that can pay within two to four weeks. However, claims during the graded benefit or waiting period of guaranteed issue policies may take longer. Having a clearly named beneficiary with easy access to the policy documents speeds up the process.

Is burial insurance worth it for seniors over 70?

It depends on your financial situation. For seniors over 70 who do not have savings or existing life insurance to cover funeral costs, burial insurance provides peace of mind that their family will not be burdened with expenses. However, premiums are significantly higher at older ages, and you should compare the total premiums you would pay over your expected lifetime against the death benefit. A dedicated savings account or payable-on-death bank account may be more cost-effective for some seniors.

What is the graded benefit period on burial insurance?

A graded benefit period, also called a waiting period, is common on guaranteed issue policies. It typically lasts two to three years from the policy start date. If the insured dies from natural causes during this period, the beneficiary receives only a partial benefit, usually a return of premiums paid plus a small percentage of interest, rather than the full death benefit. After the waiting period ends, the full death benefit is payable. Accidental death is usually covered in full from day one.

Can I cancel burial insurance and get my money back?

Most burial insurance policies have a free-look period of 10 to 30 days after purchase during which you can cancel for a full refund. After that, if you cancel, you may receive the cash surrender value, which is typically very small in the early years and grows slowly over time. Whole life policies do build cash value, but it takes many years before the surrender value becomes meaningful. You will not get back the full amount of premiums paid.

Resources That May Help

Disclaimer: The premium estimates, coverage details, and company information on this page are based on publicly available data, consumer surveys, and industry sources as of 2026. Actual insurance rates vary by state, individual health, age, gender, and other factors. This content is for informational purposes only and does not constitute financial, legal, tax, medical, or insurance advice. We are not licensed insurance agents and do not sell insurance products. Some links on this page may be affiliate links. Always consult with a licensed insurance professional and read policy documents carefully before purchasing any insurance product.

Editorial Disclosure

This content is maintained by the Funeral Cost Analyzer editorial team. Cost data is compiled from publicly available sources including NFDA consumer surveys, Funeral Consumers Alliance research, FTC guidelines, and state regulatory filings. We are an independent consumer education resource — not funeral directors, attorneys, or financial advisors. For our full methodology and editorial standards, see our Editorial Standards & Methodology page.

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