Costs of Burial Life Insurance For Men and Women
A 75 year old woman can expect to pay approximately $70 per month for a burial life insurance policy in the amount of $10,000. On the other hand, because men pay more, a 75 year old man could pay around $100 per month ($1200 yearly) for a similar policy. Get your own rates here.
It's no surprise that funerals and burials are very expensive!
Now is the time to start looking around online for the best rates on life insurance. Don't procrastinate and leave your family in a financial predicament by not getting burial and final expenses life insurance ahead of time.
Burial life insurance can be term or permanent (whole), but it's more common to be whole - stays in force until the insured dies, and won't cancel after a predetermined amount of time (term).
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Burial vs. Traditional Life Insurance
This type of insurance has a smaller benefit amount versus a traditional life insurance policy. It's mostly used to pay funeral expenses, memorial service, headstone - basically a person's final expenses.
But, it can also be used to pay the deceased's oustanding bills, for example, medical and credit card bills.
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Who is it for?
Obviously, it's geared towards those closer to death, like seniors and the elderly. If a senior has plenty of money in the bank and no bills, this type of insurance is not needed.
What's a Typical Death Benefit Amount
Burial life insurance policy death benefits for men and women are usually under $30,000, and the most common amounts are $10,000 to $20,000.
Typical burial life insurance monthly rates for a woman:
| $5,000 | $10,000 | $15,000 | $20,000 | |
| 60 Year Old Female | $18.04 | $33.20 | $48.18 | $63.16 |
| 61 Year Old Female | $18.86 | $34.86 | $50.67 | $66.48 |
| 62 Year Old Female | $19.63 | $36.42 | $53.01 | $69.61 |
| 63 Year Old Female | $20.46 | $38.10 | $55.53 | $72.95 |
| 64 Year Old Female | $21.28 | $39.75 | $58.02 | $76.29 |
| 65 Year Old Female | $22.11 | $41.42 | $60.51 | $79.61 |
| 66 Year Old Female | $23.32 | $43.87 | $64.20 | $84.52 |
| 67 Year Old Woman | $24.53 | $46.32 | $67.86 | $89.41 |
| 68 Year Old Female | $25.75 | $48.77 | $71.55 | $94.31 |
| 69 Year Old Female | $27.01 | $51.32 | $75.36 | $99.40 |
| 70 Year Old Female | $28.22 | $53.77 | $79.04 | $104.31 |
| 71 Year Old Female | $29.70 | $56.76 | $83.53 | $110.29 |
| 72 Year Old Woman | $30.83 | $59.04 | $86.94 | $114.85 |
| 73 Year Old Female | $33.38 | $64.19 | $94.66 | $125.13 |
| 74 Year Old Female | $35.49 | $68.46 | $101.07 | $133.68 |
| 75 Year Old Female | $37.81 | $73.13 | $108.08 | $143.04 |
| 76 Year Old Woman | $40.73 | $79.03 | $116.93 | $154.82 |
| 77 Year Old Female | $43.36 | $84.35 | $124.90 | $165.45 |
| 78 Year Old Female | $45.82 | $89.32 | $132.37 | $175.41 |
| 79 Year Old Woman | $48.31 | $94.34 | $139.91 | $185.46 |
| 80 Year Old Female | $50.82 | $99.41 | $147.51 | $195.60 |
Average insurance rates as off 10/27/2024 - these are estimated rates and may not reflect an actual rate from an insurance company.
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Typical final expense life insurance monthly rates for a man:
| $5,000 | $10,000 | $15,000 | $20,000 | |
| 60 year old male | $23.71 | $44.20 | $64.68 | $85.15 |
| 61 year old male | $25.06 | $46.87 | $68.69 | $90.52 |
| 62 year old man | $26.39 | $49.55 | $72.71 | $95.87 |
| 63 year old male | $27.48 | $51.73 | $75.98 | $100.23 |
| 64 year old male | $28.67 | $54.12 | $79.56 | $104.99 |
| 65 year old male | $30.14 | $57.04 | $83.94 | $110.85 |
| 66 year old man | $31.85 | $60.45 | $89.06 | $117.67 |
| 67 year old male | $33.52 | $63.81 | $94.10 | $124.39 |
| 68 year old male | $35.37 | $67.51 | $99.65 | $131.77 |
| 69 year old man | $37.37 | $71.50 | $105.63 | $139.75 |
| 70 year old male | $39.29 | $75.36 | $111.41 | $147.47 |
| 71 year old male | $41.42 | $79.60 | $117.79 | $155.96 |
| 72 year old male | $44.04 | $84.83 | $125.62 | $166.43 |
| 73 year old male | $46.80 | $90.36 | $133.93 | $177.49 |
| 74 year old male | $49.52 | $95.81 | $142.10 | $188.39 |
| 75 year old male | $52.11 | $100.98 | $149.85 | $198.72 |
| 76 year old man | $55.67 | $108.11 | $160.55 | $212.99 |
| 77 year old male | $59.26 | $115.27 | $171.30 | $227.31 |
| 78 year old male | $63.30 | $123.36 | $183.42 | $243.48 |
| 79 year old man | $67.02 | $130.82 | $194.61 | $258.39 |
| 80 year old male | $72.18 | $141.13 | $210.08 | $279.02 |
Average insurance rates as off 10/27/2024 - these are estimated rates and may not reflect actual rates from an insurance company.
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Common Questions About Burial Life Insurance
How Much Burial Insurance Do I Need?
How much life insurance coverage you need to cover final expenses will depend in how much you have already saved up for your funeral. If you think your funeral will cost $20,000, and you have $10,000 in savings, then you should probably get $10K to 15K in coverage.
What is The Best Burial Insurance ?
Many major life insurance companies offer burial insurance. For example, you can get policies from AARP underwritten by New York Life Insurance Company, Globe Life, Fidelity Life, AIG, Mutual of Omaha, plus many more. Choosing the best will depend on your particular situation.