Burial Insurance for Seniors Over 70 (and 60)

Your 60s and 70s are often the best window to buy burial insurance. You are likely to have more plan choices than later in life, and premiums are still lower than they will be in a few years. Here is how it works.

Why age 60 to 79 matters

Final expense coverage is priced by age. Every year you wait raises the premium, and health changes can narrow your choices. People in this age range often qualify for plans that pay the full benefit from day one, which is not usually the case for older applicants.

Your main options

• Level benefit (simplified issue). You answer a few health questions, with no exam. If you qualify, the full benefit is paid from the first day.
• Graded benefit. Offered when health is a concern. Natural death in the first two years typically pays back premiums plus interest instead of the full amount. Accidental death is generally covered in full.
• Guaranteed acceptance. No health questions, so no one is turned down. It costs more per dollar of coverage and has the same graded period.

What can affect approval

Simplified issue plans often decline applicants who are currently hospitalized, use oxygen, are in a nursing home, or have certain recent serious diagnoses. Many other conditions, including well-managed diabetes or high blood pressure, may still qualify with some carriers. Each carrier sets its own rules, which is why comparing matters. If you do not qualify for one company, another may accept you.

How much coverage to choose

A common starting point is the cost of the funeral you want. The National Funeral Directors Association’s 2023 study put a funeral with viewing and burial at about $8,300 and cremation with a viewing at about $6,280. Add any final bills you want covered. Our post on how much burial insurance costs explains what drives the price.

Next steps

• List your health conditions and medications before you call.
• Decide on a coverage amount and a monthly payment you are comfortable with.
• Compare quotes from several carriers rather than one.
• Choose a beneficiary and keep their contact details current.

Already past 80? See burial insurance for seniors over 80. Wondering about waiting periods? Read burial insurance with no waiting period.

Get a quote

Amy Plunkett is an independent insurance agent at Plunkett Insurance Services in Castor, Louisiana. She can compare burial and final expense policies from more than 20 carriers to find the best coverage for your health, including options that pay in full from day one. Contact Amy to see what you qualify for.