Burial Insurance Companies: The 8 Best For 2022

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    Best Burial Insurance Companies

    This article will profile the top burial insurance companies.

    Mutual of Omaha Logo

    Mutual Of Omaha

    Mutual of Omaha is one of the largest mutual insurance companies in America.

    It was founded nearly a century ago and has grown to become an industry leader, with over $12 billion in assets under management (as of 2016).

    The Company’s main focus is life insurance for individuals and groups; they also provide health care plans, annuities, mutual funds, and investment products.

    Guaranteed Whole Life Insurance

    Mutual of Omaha Logo

    Whole Life Insurance

    Mutual of Omaha‘s first burial insurance product is its guaranteed issue version.  You can apply online or by phone for this policy, and coverage is guaranteed.

    Here are some highlights:

    • Available for customers ages 45-85 (in NY, ages 50-75)
    • Guaranteed coverage — no medical exam or health questions
    • Benefit amounts: $2,000 – $25,000
    • Benefits are never reduced because of age or health
    • Rates never increase
    • 85% of claims paid within 24 hours

    Is There A Waiting Period?

    Mutual of Omaha’s Guaranteed Whole Life policies do have a waiting period (graded death benefit).

    If the insured dies from natural (not accidental) causes during the policy’s first two years, the beneficiary will receive all premiums paid plus 10%.

    Only after this two-year period ends is the beneficiary eligible to receive the policy’s full death benefit.

    In all cases (i.e., even during the first two years), the beneficiary will receive the full death benefit if the insured dies from an accidental injury.

    Living Promise Whole Life Insurance

    If you apply with an agent, you also have the option of Mutual of Omaha’s second burial insurance offering, Living Promise Whole Life Insurance.

    While these policies are not guaranteed issue, they do use simplified underwriting, which means they include only a limited number of health questions and no medical exam. 

    This policy has two different coverage options:

    Level Benefit Plan

    • Policy issue ages: 45 – 85
    • Benefit amounts: $2,000 – $40,000
    • Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement

    Graded Benefit Plan

    • Policy issue ages: 45 – 80
    • Benefit amounts: $2,000 – $20,000
    Liberty Bankers Logo

    Liberty Bankers

    Liberty Bankers Life Insurance Company is a burial insurance company that specializes in providing affordable and flexible policies to those who need them most.

    Founded over 100 years ago, Liberty works to fulfill the needs of families throughout America with their simple life coverage plans.

    They help families afford the rising cost of funerals with both traditional life insurance benefits as well as simplified pre-need services for future costs.

    New York Life Logo

    New York Life

    New York Life is one of the top insurance companies in America. The company provides several different financial services, including life, disability, and annuities. They also offer burial insurance policies at affordable rates.

    There are many reasons why people buy burial insurance from this provider.  First of all, they have over 200 years of experience providing high-quality life insurance products, so customers have confidence that they’ll be their when their need arises.

    Another reason why more than 275 million Americans trust them with their money annually is that they’re an A+ rated member of the Better Business Bureau (BBB).

    New York Life has several different products to choose from, including a universal life policy, term, and whole life insurance.

    Each type of burial plan offers its own benefits, so you need to know which is right for your unique needs.

    • Universal policies are good if you’re trying to build up cash value, but they also come with higher premiums than the other two options do
    • Term life plans are great because they offer competitive rates per month as well as guaranteed coverage that won’t change over time unless you decide to cancel your policy when need be
    • Whole life plans have low monthly costs like term death benefit without having any extra fees involved no matter how long the plan lasts
    gerber life logo

    Gerber Life

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    foresters financial logo

    Foresters Financial

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    globe life logo

    Globe Life

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    Colonial Penn Logo

    Colonial Penn

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    Fidelity Life Logo

    Fidelity Life

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    Rikin Shah

    Rikin Shah

    Rikin is the Founder & Head of Content at GetSure. He is a licensed life, accident & health insurance agent, with over 10 years of experience in the financial services industry. He holds a B.S. in Applied Mathematics from Columbia University and an MBA from The Stanford Graduate School of Business.

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