Most of the people I help with final expense are in their 60s, 70s and 80s. The question I hear most is "Am I too old?" Usually not. The bigger question is which kind of plan you qualify for, because that decides whether the full benefit is there from day one.
What burial insurance covers
Burial insurance, also called final expense insurance, is a small whole life policy. When you pass, it pays a lump sum to the person you name. They can use it for anything:
- The funeral, burial or cremation, and a headstone
- Medical bills, credit cards and other final bills
- Travel for family, or simply a cushion while things get settled
The money goes to your beneficiary, not to a funeral home, so your family decides how it's spent. Wondering what a funeral costs? Here's what a typical funeral costs.
Why it fits people over 70
- It lasts your whole life. Term plans end after a set number of years. A funeral is the one expense that's certain, so coverage that never runs out matters.
- The price is locked. With most final expense plans, your monthly payment never goes up.
- The benefit doesn't shrink. The amount you choose stays the same no matter how long you live.
- No medical exam. You answer health questions by phone instead.
- It builds a little cash value over time, like other whole life policies.
Medicare doesn't pay for funerals, and the Social Security death payment is small and only goes to certain family members. For most families, the money has to come from somewhere else.
The three kinds of plans
| Plan type | How it works | Good fit if |
|---|---|---|
| Fully covered (level) | Full benefit from day one. | You're in fair to good health, even with common conditions like high blood pressure or diabetes. |
| Graded or modified | A smaller benefit for the first couple of years, then the full amount. | You've had more serious or recent health problems. |
| Guaranteed acceptance | No health questions. A waiting period, often two years, before the full benefit pays for natural causes. | Health questions rule out the other two. It's a safety net, not a first choice. |
Most plans accept new applicants up to about 80 or 85, depending on the plan. Plans advertised on TV or by mail are often guaranteed acceptance, which means a waiting period even for healthy people who could have qualified for full coverage on day one. More on waiting periods.
How much coverage do people over 70 get?
Most people choose somewhere between $5,000 and $25,000. A good way to land on your number:
- Start with the kind of service you want: burial or cremation, viewing or not.
- Add any bills you'd leave behind, like medical bills or a car loan.
- Subtract any savings already set aside for it.
If the payment for the amount you want doesn't fit your budget, a smaller policy you can keep is better than a bigger one you might let go. Most plans let you choose the amount in steps, so we can find the right balance.
What affects the price
- Your age. Each birthday raises the price, so applying at 71 usually costs less than waiting until 73.
- Your health. Your answers to the health questions decide which kind of plan you qualify for.
- Tobacco use. Smokers and tobacco users pay more.
- The amount you choose. More coverage costs more each month.
What the process looks like
A free call
About 20 to 30 minutes by phone or video. I'll ask about your health and medications and what you want the policy to do.
I compare companies
Different companies look at the same health history differently. I show you the plans you qualify for and what each one costs.
Apply by phone
No exam and no needles. Most applications are signed electronically, and many get a decision the same day or within a few days.
Pick your payment date
Most people line it up with the day their Social Security or pension arrives.
Tell your family
Let your beneficiary know the policy exists and where to find it. I can help with that too.
Over 70 and want to see your options?
On a free call I'll ask a few health questions, compare several companies and show you which plans you qualify for and what they cost. Licensed in Arizona. By phone or video, no pressure.
Common questions
Can I get burial insurance at 75 or 80?
Yes. Many plans accept new applicants up to about 80 or 85. Your health answers decide whether you qualify for full coverage from day one, a graded plan or a guaranteed plan.
Is there burial insurance for people over 85?
Options get fewer after 85. A small number of plans accept applicants past that age, usually with lower coverage amounts and a waiting period.
Do I need a medical exam?
No. Final expense plans use health questions by phone, and most companies also check your prescription history.
Will my payment go up as I get older?
With most final expense plans, no. The price is locked when you buy and the benefit stays the same. Always confirm this before you sign.
What if I have health problems?
Many people with diabetes, COPD or heart conditions still qualify for full coverage. Read more about life insurance with diabetes.
Does Medicare pay for funerals?
No. Medicare doesn't cover funeral or burial costs. The Social Security death payment is small and only goes to a surviving spouse or certain children.
What if I don't live in Arizona?
I'm licensed in Arizona today and adding more states soon. Send a quote request anyway and I'll let you know as soon as I can help in your state. In the meantime, the free guide walks you through how much coverage you need.
Nick Brown is an independent life insurance agent with NJN Insurance, licensed in Arizona (License 19720244). He compares plans from several companies and explains them clearly. NJN stands for Not Just a Number.