Also known as burial insurance, final expense insurance provides permanent life insurance coverage designed to help pay for funeral costs, medical bills and other end-of-life expenses. These policies offer smaller coverage amounts than traditional life insurance products and simplified underwriting, so most applicants qualify without a medical exam.
Best Final Expense Insurance Companies in 2026
The best final expense insurance companies in 2026 are Transamerica, Mutual of Omaha and Americo.
Compare final expense insurance quotes from top providers.
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Updated: May 7, 2026
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Compare Top Final Expense Insurance Policies
To find the best final expense insurance companies, we compared top insurers using pricing, financial strength, customer satisfaction and coverage options. Based on our analysis of thousands of quotes across multiple profiles, the top providers are Transamerica, Mutual of Omaha, Americo, Aetna and Lincoln Heritage. Monthly premiums for a 70-year-old with $10,000 in coverage range from about $53 to $77, with eligibility spanning ages 18 to 89 and coverage limits up to $50,000.
Age eligibility is often the most important factor. Transamerica accepts applicants as young as 18, while Aetna is the only provider on this list that accepts applicants up to age 89. For shoppers age 80 and older, options are more limited.
For people in their mid-60s to early 70s, price differences between providers are minimal, as low as $5 to $7 per month. At that age, complaint history, financial strength ratings and claims processing speed matter more than cost.
Overall | Transamerica | $53 (Female), $70 (Male) | $1,000 | $50,000 | 18-85 | 4.5 |
Customer Experience | Mutual of Omaha | $53 (Female), $75 (Male) | $2,000 | $50,000 | 45-85 | 4.4 |
Smokers | Americo | $53 (Female), $71 (Male) | $5,000 | $40,000 | 40-85 | 4.3 |
Older Applicants | Aetna | $58 (Female), $73 (Male) | $2,000 | $50,000 | 40-89 | 4.2 |
Funeral Planning Support | Lincoln Heritage | $58 (Female), $77 (Male) | $2,000 | $35,000 | 40-85 | 4.2 |
* 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
Best Overall
MoneyGeek Rating
4.5/ 5
5/5Affordability
3.7/5Customer Experience
4.5/5Coverage
Average Monthly Rate
$53 (Female), $70 (Male)Max Coverage
$50,000Ages
18-85
Mutual of Omaha
Best Customer Experience
MoneyGeek Rating
4.4/ 5
4.5/5Affordability
4.2/5Customer Experience
4.4/5Coverage
Average Monthly Rate
$53 (Female), $75 (Male)Max Coverage
$50,000Ages
45-85
Americo
Best for Smokers
MoneyGeek Rating
4.3/ 5
4.9/5Affordability
3.5/5Customer Experience
4.2/5Coverage
Average Monthly Rate
$53 (Female), $71 (Male)Max Coverage
$40,000Ages
40-85
Aetna Medicare
Best for Older Applicants
MoneyGeek Rating
4.2/ 5
4.7/5Affordability
3.4/5Customer Experience
4.4/5Coverage
Average Monthly Rate
$58 (Female), $73 (Male)Max Coverage
$50,000Ages
40-89
Lincoln Heritage
Best for Funeral Planning Support
MoneyGeek Rating
4.2/ 5
4.3/5Affordability
4.1/5Customer Experience
4.4/5Coverage
Average Monthly Rate
$58 (Female), $77 (Male)Max Coverage
$35,000Ages
40-85
What Is Final Expense Insurance?
Final expense or burial insurance is a type of whole life insurance that provides permanent coverage. Unlike term life insurance, final expense insurance doesn't expire after a specific period. Coverage lasts your entire life, though some policies have a maturation age, usually 100.
Final expense insurance works like other whole life policies but has a smaller death benefit, making it more affordable. While your beneficiaries can use the payout as they see fit, these policies are designed to cover end of life expenses from memorial services and embalming to purchasing a casket or cremation.
Final expense and burial insurance is popular among seniors so their families don't pay out-of-pocket for end-of-life costs. Based on our analysis, death benefits range from $1,000 to $50,000.
How Much Does Final Expense Insurance Cost?
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.
$5,000 | $17 (F), $21 (M) | $22 (F), $28 (M) | $33 (F), $43 (M) | $64 (F), $83 (M) |
$10,000 | $30 (F), $38 (M) | $42 (F), $53 (M) | $64 (F), $84 (M) | $125 (F), $164 (M) |
$15,000 | $44 (F), $55 (M) | $61 (F), $77 (M) | $95 (F), $123 (M) | $186 (F), $242 (M) |
$20,000 | $56 (F), $72 (M) | $80 (F), $101 (M) | $124 (F), $162 (M) | $246 (F), $321 (M) |
$30,000 | $76 (F), $96 (M) | $105 (F), $137 (M) | $167 (F), $220 (M) | $327 (F), $424 (M) |
$40,000 | $98 (F), $126 (M) | $136 (F), $180 (M) | $222 (F), $298 (M) | $408 (F), $548 (M) |
$50,000 | $115 (F), $151 (M) | $159 (F), $217 (M) | $273 (F), $373 (M) | $460 (F), $639 (M) |
* These rates are for nonsmokers of average health, height and weight.
AVERAGE FINAL EXPENSES, INCLUDING BURIAL AND FUNERAL
Burial with viewing costs a median $8,300, while cremation with services averages $6,280, according to the National Funeral Directors Association. Lower-cost options include direct burial for $2,800 and direct cremation for $1,500 to $2,000. Extras like plots, vaults or headstones add $1,000 to $5,000 to your final expenses.
How to Choose the Best Burial Expense Insurance
Choosing burial insurance comes down to matching your health profile, budget and coverage needs to the right carrier. These factors will help you narrow your options.
- Assess your health history. Aetna accepts conditions like COPD, congestive heart failure and diabetes diagnosed after age 40 that most carriers decline. Carriers who decline high-risk applicants may still offer graded plans, which pay partial benefits in the first two years and full benefits after.
- Decide how much coverage you need. A traditional burial with viewing costs a median $8,300, per the National Funeral Directors Association. Quotes for $10,000 give you a modest buffer above that. A $15,000 policy covers most traditional services without a large out-of-pocket gap.
- Compare premiums by age and gender. In our analysis, a 70-year-old man's monthly premium for $10,000 ranged from $70 at Transamerica to $77 at Lincoln Heritage. That $7 gap is $84 per year and $840 over a decade. Getting quotes from three different providers takes 15 minutes and will help ensure you get the lowest rate possible.
- Check industry ratings. AM Best ratings and NAIC complaint indexes tell you how financially stable an insurer is and how often policyholders file complaints. Look for an AM Best rating of A or better and an NAIC index below 1.00.
- Consider payout speed. Some carriers, like Lincoln Heritage, pay claims within 24 hours of approval. Most carriers take three to 10 business days. When families are arranging services immediately after a death, the speed difference matters.
- Look for additional benefits. Mutual of Omaha's accidental death rider doubles the payout to $100,000 for qualifying deaths at no change to the base premium structure. Transamerica's Funeral Concierge Rider includes 24/7 support and legacy planning tools at no added cost. These riders add real value, but only if the scenario applies to you.
Frequently Asked Questions
We answer common questions about final expense insurance:
How does burial insurance work?
Burial insurance policies don't have deductibles. Beneficiaries receive the full death benefit amount (the coverage amount you selected) directly upon the insured's death.
You apply by answering health questions (or skip them with guaranteed acceptance policies), then pay weekly or monthly premiums. When you die, beneficiaries receive the full death benefit with no deductible to cover funeral costs, final medical bills, cremation or other end-of-life expenses.
What can burial insurance death benefits cover?
Beneficiaries can use the death benefit for funeral costs, cremation, final medical bills, caskets or urns. While designed for end-of-life expenses, beneficiaries have flexibility to use the money for other financial needs if necessary.
Is final expense insurance worth it?
For most applicants in their 60s and 70s, yes. A traditional burial costs an average of $8,300. A $10,000 policy for a 65-year-old woman runs about $41 per month, or $492 per year. If the policy pays out within 17 years, the family comes out ahead financially. That math changes if you already have savings set aside for end-of-life costs or have existing life insurance with a sufficient death benefit.
Who should buy burial insurance?
Burial insurance works best for seniors in their 60s through 80s who need affordable coverage for funeral costs rather than long-term financial obligations. It's especially valuable if you have health issues that make traditional life insurance expensive or difficult to qualify for.
Who shouldn't buy final expense insurance?
Skip final expense insurance if you have $10,000 or more in liquid savings you've designated for end-of-life costs. The premiums won't be worth the payout. It's also a poor fit if you're under 50 with dependents who need income replacement. A term life policy provides far more coverage per premium dollar at that age.
Our Review Methodology
We analyzed thousands of final expense insurance quotes along with customer satisfaction data, financial strength ratings and policy features to determine which insurers offer the best balance of affordability and reliability.
Our Scoring Framework
We ranked final expense 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.
Related Pages
About Patrick Bryant
Patrick Bryant is Vertical Lead for Life and Health Insurance at MoneyGeek, where he researches and writes about life and health insurance products and maintains the scoring methodologies that underpin MoneyGeek's provider comparisons in both verticals. His scoring methodologies for both verticals are reviewed and updated quarterly to reflect current carrier data and market conditions.
Life Insurance
For life insurance, Bryant analyzed more than 50 carriers across term, whole life, universal life, indexed universal life, guaranteed acceptance, no-exam, and final expense products in all 50 states, collecting thousands of quotes across age, gender, health status, coverage level, and tobacco use profiles. He has produced articles covering life insurance reviews, best of guides, rate analysis guides and informational resources to help consumers better understand policy options, pricing factors, underwriting requirements, and how to choose coverage that fits their financial goals.
Health Insurance
For health insurance, he reviews providers across all 50 states using CMS exchange data, Quality Rating System ratings, and claim denial rates covering individual and family plans, Medicare Advantage, and Medicare Supplement plans. He has analyzed plan costs, benefits, network strength, and out-of-pocket exposure across a wide range of consumer profiles, producing in-depth reviews, best-of rankings, and educational guides to help individuals and families compare options and choose coverage that aligns with their healthcare needs and budget.
Before specializing in insurance, Bryant spent four years at Forbes Advisor reviewing small business software and services. During that time, he developed the product review and data methodology skills he now applies to carrier analysis at MoneyGeek. Earlier roles at ClickGiant and Benefitfocus involved direct content work for insurance agents, carriers and employee benefits partners including Allstate and Aflac.
Education
- M.A., English, Winthrop University
- B.A., English, Winthrop University
Expertise
Life Insurance, Health Insurance, Medicare Advantage, Medicare Supplement