What is the cheapest burial insurance?
Short answer
There's no single cheapest company. The lowest price depends on your age, health, tobacco use and coverage amount, and the cheapest carrier for one person is often average for another. The biggest saving is qualifying for a simplified-issue, day-one plan instead of guaranteed acceptance. In the carrier rate tables we quote from, the cheapest guaranteed-acceptance plan costs about 1.8 to 2 times as much per dollar of coverage as the cheapest day-one plan at ages 65 to 80.
Every TV ad claims to be the affordable one. The honest answer is that “cheapest” depends on who’s applying, and the biggest price difference isn’t between companies. It’s between the three kinds of policy.
The three tiers, from least to most expensive per dollar
| Tier | Who qualifies | What it pays in years 1–2 |
|---|---|---|
| Day-one (level) | People who can answer “no” to the carrier’s health questions | The full benefit, from the first day |
| Graded or modified | People with more serious recent history | For natural-cause death, a limited amount, such as premiums back plus 10%. Accidents are covered in full |
| Guaranteed acceptance | Anyone in the age range, with no health questions | For natural-cause death, typically premiums back plus interest in years 1–2 (3 at some carriers). Accidents are covered in full |
Guaranteed acceptance costs the most and pays the least in the early years. The carrier can’t screen anyone, so the price assumes the worst. Mutual of Omaha’s Living Promise shows the trade-off clearly: its Level plan pays the full benefit from day one, while its Graded plan pays back premiums plus 10% for a natural-cause death in the first two years.
What actually makes it cheaper
- Qualifying for day-one coverage. In the carrier rate tables we quote from, the least expensive guaranteed-acceptance plan costs about 1.8 to 2 times as much per dollar of coverage as the least expensive day-one plan, at every age from 65 to 80. If you can answer health questions, answer them.
- Choosing the right carrier for your history. The same diabetes, COPD or heart history can be day-one at one company and graded at another. Even among day-one plans, the typical rate in those tables runs about a third or more above the lowest one for the same person.
- Buying younger. Final expense premiums are locked for life at the age you buy. In those same tables, the lowest day-one rate at 80 is more than double the lowest at 65.
- Not using tobacco. Tobacco rates are higher at nearly every carrier.
- Matching the amount to the need. Price out the funeral you’d actually want, plus final bills. Don’t pay for coverage you won’t need, and don’t come up short.
How to find your real cheapest
- Run your age, sex, tobacco use and coverage through our final expense calculator. It uses real carrier rate tables.
- See how prices climb with each birthday on life insurance cost by age.
- Have an independent agent check your medications and history against many carriers before you apply, so you land in the lowest tier you qualify for. Applying directly to the company in the commercial can put you in a guaranteed plan you didn’t need. How day-one coverage works.
The carrier always makes the final decision, and we’ll be straight with you about which tier is realistic. Compare quotes or call 586-343-1505.
Sources: Mutual of Omaha — Living Promise plan highlights · Accendo — Final Expense Whole Life brochure · Carrier rate tables — United Eagles final expense calculator
Updated October 11, 2026. General information, not legal, tax or financial advice. United Eagles Financial is an independent life insurance agency, not an insurance carrier; coverage depends on carrier underwriting and state availability.