5 Best Burial Insurance Companies in 2026

Transamerica, Mutual of Omaha, Americo, Aetna and Lincoln Heritage are the best final expense insurance companies in MoneyGeek's analysis of 20 insurers. We evaluated each carrier based on pricing, financial strength, customer satisfaction and coverage options.

Transamerica is the best overall final expense insurer because it pairs the broadest age eligibility of 18-85 years old with the lowest average cost and a high coverage limit of $50,000. With monthly premiums varying by as little as $5 to $7, age eligibility, coverage limits and insurer quality are more important factors than small differences in price.

* Rates shown are based on quotes for a 70-year-old with $10,000 coverage. Your rates will vary depending on your coverage needs, age and health.

Transamerica and Americo are the cheapest burial insurance companies at age 70, averaging $53 per month for women and $70 to $71 for men with $10,000 in coverage. Mutual of Omaha matches the $53 rate for women but averages $75 for men. Across the 10 cheapest providers in our review, women pay $15 to $22 less per month than men for comparable coverage. Rates shown are for nonsmokers.

The death benefit from a final expense policy is paid as a cash lump sum to whoever you name as your beneficiary. Because the death benefit is paid directly to your beneficiary, it can provide funds for immediate expenses without waiting for estate assets to go through probate. The funds can be used for any expense, including:

• Funeral home services like viewing, burial or cremation
• Cemetery plots, headstones and grave opening fees
• Casket, urn or alternative container costs
• Hospice care and end-of-life medical bills
• Outstanding debts, including credit cards, car loans or a remaining mortgage balance
• Legal fees and estate administration costs
• Travel expenses for family members attending services
• Any other expenses your beneficiary chooses to cover

The National Funeral Directors Association puts the median cost of a funeral with burial and viewing at $8,300. Cremation with a memorial service runs about $6,280 at the median. Direct cremation with no viewing or service costs $1,500 to $2,000.

A $10,000 to $15,000 policy covers median funeral costs for most families. If you carry outstanding debts you'd like covered, you'll need a higher benefit amount.

There are two main types of burial insurance, simplified issue and guaranteed issue. The right option depends on your health and whether you need full coverage to begin immediately.

• Simplified Issue: Requires a short health questionnaire but no medical exam. Your health can affect approval and pricing, though people with manageable conditions can still qualify. Coverage begins immediately, and premiums are lower than guaranteed issue policies.
• Guaranteed Issue: Doesn't require health questions or medical exam. All applicants within the eligible age range are accepted regardless of health. Premiums are higher, and most policies include a two-year waiting period. If you die during that period, beneficiaries receive your premiums back plus interest instead of the full death benefit.

If you qualify for simplified issue coverage, it's usually the better value. Guaranteed issue is designed for people  whose health prevents them from qualifying for simplified issue coverage.

Burial insurance provides permanent financial coverage for end-of-life costs, but its low coverage limits and higher cost per dollar of coverage make it a better fit for some buyers than others.

Final expense insurance premiums increase steadily with age and coverage amount, but what stood out most in our analysis is how sharply rates jump later in life. A 50-year-old woman pays an average of $30 per month for $10,000 in coverage, compared to $38 for a man. By age 70, that rises to $64 for women and $84 for men, with faster increases after 65.

The biggest shift happens between 70 and 80. A man’s premium for $10,000 nearly doubles from $84 to $164, while a woman’s rises from $64 to $125. Coverage size also plays a major role. A 70-year-old man pays $84 monthly for $10,000 but $373 for $50,000.

The takeaway is timing. Locking in a policy when you're younger can greatly reduce total lifetime costs compared to waiting.

* These rates are for nonsmokers of average health, height and weight.

Final expense insurance isn't the only way to cover end-of-life costs. Compare these alternatives before buying:

• Term Life Insurance: Get up to $10 million in coverage with a lower cost per $1,000 of coverage. The average term life insurance cost for a 70-year-old with a 10-year, $100,000 policy is $104 per month for women and $150 for men. Term life is best for healthier people who need more financial protection, but coverage expires at the end of the term. Term lengths range from 10 to 40 years, though most companies limit term lengths to 10 years for applicants older than 65.
• Savings Account: Set aside money directly for future expenses without paying insurance premiums. This is the most cost-efficient option if you have enough time to build savings and can keep the funds reserved.
• Prepaid Funeral Plan: Pay a funeral home in advance to lock in selected services. However, the money is less flexible and may be harder to access if you move or change plans. These plans also usually tie your funds to a specific funeral provider.

We answer common questions about final expense insurance:

We analyzed thousands of quotes from 20 burial insurance companies along with customer satisfaction data, financial strength ratings and policy features to determine which insurers have the best balance of affordability and reliability.

Our Scoring Framework

We ranked burial insurance companies using the following criteria:

• Affordability (50%): We compared real quotes across ages, genders, smoking status and coverage levels to identify the most competitive pricing.
• Customer Experience (30%): We reviewed AM Best financial strength ratings, BBB grades, consumer feedback and overall ease of application and approval.
• Coverage Options (20%): We evaluated policy availability, coverage limits, eligibility ages, riders and additional benefits.

Sample Customer Profile

Unless otherwise noted, rates in this article are based on the following baseline profile:

• Age: 70
• Smoking status: Nonsmoker
• Coverage amount: $10,000
• Health: Average health rating

We adjusted age, gender, coverage amounts and smoking status from this baseline to estimate what different applicants may pay and to identify insurers that consistently offer lower rates across a range of customer profiles.

Read more in our full Life Insurance Methodology.