What Are the Best Options in Burial Insurance for Seniors Over 70?

Insurance for Seniors

Burial insurance (also called final expense insurance) is a type of life insurance that covers end-of-life expenses. When you are over 70, your previous life insurance policies tend to mature. So, you need to have financial security at this age to bear final expenses.

Gary P. Cubeta, an expert from Insurance for Final Expenses, says that funeral insurance for seniors 0can offer you the financial support you need in the final days of your life. Burial insurance policies usually range from $5,000 to $50,000. The death benefits will be paid directly to your beneficiaries to bear your burial costs.

Independent agents may help you find the best burial insurance for seniors over 70 suited to your needs and preferences.

Here are some options to consider:

AARP Guaranteed Acceptance Life Insurance

In association with New York Life, AARP guides Americans as they age and offers permanent life insurance coverage for burial expenses in partnership with New York Life. They never reject coverage of eligible people irrespective of their health conditions.

You don’t need to clear a medical examination or fill a questionnaire but be an AARP member to apply for funeral insurance for seniors. Even your spouse, between 45 to 80 years of age, can apply for burial with coverage of a maximum of $25,000 and guaranteed premium rates.

Though the monthly premium ends when you are 95 years old, the coverage stays for the rest of your life. It’s a standard burial insurance option.

Globe Life Final Expense Insurance

The premium usually increases as you grow old. However, you can buy your Globe Life Final Expense Insurance coverage in the first month for only $1. Then, the monthly premiums are as low as $3.49.


You need to invest $5,000 to $50,000 for burial expense coverage. Since you buy the policy directly without health or medical examination, you don’t need to wait.

Globe Life final expense insurance offers a money-back guarantee if you are not satisfied with the coverage. In case you are satisfied, you also get burial coverage for your spouse. It also offers permanent life insurance protection for children with monthly charges starting at $2.17.

Mutual of Omaha

Mutual of Omaha offers minor funeral insurance for seniors with coverage starting at less than $2000 to $25000. This guaranteed entire life insurance policy is for people of 45 to 85 years of age.

You need to wait for two years to avail of this policy. So, if you die in the initial two years, your beneficiary would receive a benefit amount equal to your paid premiums with an additional 10%.

Once the insurance completes two years, your beneficiary would be entitled to the total benefit amount chosen for your policy.

AIG Direct Guaranteed Issue Whole Life Insurance

When you have burial insurance, it eases funeral expenses. Some insurance policies also offer benefit protections when you live. The guaranteed issue whole life policy helps you with financial investment and covering chronic terminal health issues.

If you cannot follow your daily schedule because of chronic illness, they return your premiums almost 25% of the policy face value.

AIG allows you to access 50% of your death benefit amount when you are alive to pay for medical or related expenses when you suffer from a terminal illness. To get those perks, you will have to pay an administrative fee.

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The available options give you certain extra financial reassurance if you suffer critical health issues later in life.

Colonial Penn

One of the best things about the Colonial Penn burial insurance policy is that people can opt for it at almost any age. Guaranteed Accepted Life Insurance is a good option for people of 50 to 85 years of age in most states. It is permanent full life insurance with health questions or a medical examination.

Permanent Whole Life Insurance is another great option for people from 40 to 76 years old in all US states, except the Virgin Islands and New York. This policy generates cash value to borrow against, and you don’t need to clear a medical examination.

Another good option is Renewable Term Life, which offers approximately $50000 in-term life protection for 18 to 75 years. You can renew this policy till you are 90 years old.

Finding out and choosing the best burial or funeral insurance for seniors over 70 is tricky and time-consuming. Get in touch with a trusted company that collaborates across your country to secure the most appropriate burial insurance rates suited to your budget.

They simplify your policy application process. Once the experts find the right policy, they contact the insurance company to approve your policy and give you relief from all these tasks.

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About the Author: John Watson