When I talk with families about burial insurance for seniors over 70, I often hear the same concerns: “Will I even qualify at my age?” and “Is it too expensive now?” The good news is that burial insurance (also called final expense insurance) is specifically designed for seniors, and age 70+ is actually the sweet spot where these policies make the most sense.
After helping hundreds of families navigate this decision, I’ve learned that the key is understanding your options and finding the right fit for your specific situation. Let me walk you through everything you need to know about burial insurance for seniors over 70.
For a complete overview, see how final expense insurance works.
What Is Burial Insurance for Seniors Over 70?
Burial insurance is a type of permanent life insurance designed to cover end-of-life expenses. Unlike traditional life insurance that might require medical exams and extensive health questions, burial insurance is built with seniors in mind.
The coverage amounts typically range from $5,000 to $50,000 – just enough to cover funeral costs, burial expenses, and maybe some outstanding bills. The premiums stay level for life, and the death benefit is permanent as long as you keep paying.
What makes this particularly appealing for seniors over 70 is that many policies offer simplified underwriting. This means fewer health questions, no medical exam, and faster approval – sometimes the same day you apply.
Types of Burial Insurance Available at Age 70+
Simplified Issue Burial Insurance
This is usually the best option for seniors over 70. You’ll answer 8-15 health questions, but there’s no medical exam or blood work required. If you can answer “no” to the health questions, you’re typically approved immediately.
Common health questions include:
- Are you currently using oxygen?
- Have you been diagnosed with cancer in the past 2 years?
- Do you have congestive heart failure?
- Are you receiving hospice or nursing home care?
If you’re managing common conditions like high blood pressure, diabetes (controlled), or arthritis, you can usually still qualify for simplified issue coverage.
Guaranteed Issue Burial Insurance
If you can’t qualify for simplified issue, guaranteed issue is your backup plan. There are absolutely no health questions – if you’re between the eligible ages (usually 50-85), you’re automatically approved.
The trade-off is a graded death benefit, meaning if you pass away from natural causes within the first 2-3 years, your beneficiaries receive only the premiums paid plus interest. After that waiting period, they receive the full death benefit.
Immediate Benefit Burial Insurance
Some carriers offer immediate full benefit coverage even for guaranteed issue policies, but these are less common and typically more expensive.
How Much Does Burial Insurance Cost for Seniors Over 70?
I wish I could give you exact numbers, but burial insurance rates vary significantly based on your age, gender, health, coverage amount, and the carrier. However, I can share some general ranges I see regularly:
For a healthy 70-year-old:
- $10,000 coverage: $40-70 per month
- $15,000 coverage: $60-100 per month
- $20,000 coverage: $80-130 per month
For a 75-year-old:
- $10,000 coverage: $55-90 per month
- $15,000 coverage: $80-130 per month
- $20,000 coverage: $105-170 per month
For an 80-year-old:
- $10,000 coverage: $80-140 per month
- $15,000 coverage: $120-200 per month
- $20,000 coverage: $160-270 per month
Keep in mind that guaranteed issue policies cost more than simplified issue, and rates increase as you get older. This is why I always encourage people not to wait – the longer you wait, the more expensive it becomes.
Understanding the Underwriting Process
What Health Conditions Are Typically Declined?
Even with simplified issue burial insurance, there are certain conditions that typically result in automatic declines:
- Current oxygen use (for any reason)
- Active cancer treatment or cancer diagnosis within 2 years
- End-stage kidney disease requiring dialysis
- Congestive heart failure
- AIDS or HIV
- Currently in a nursing home or receiving hospice care
- Severe COPD requiring oxygen
Conditions That Are Usually Acceptable
Many health conditions that might disqualify you from traditional life insurance are perfectly acceptable for burial insurance:
- High blood pressure (controlled with medication)
- Type 2 diabetes (controlled)
- Arthritis
- High cholesterol
- Previous heart attack (more than 2 years ago)
- Previous stroke (more than 2 years ago)
- Depression or anxiety (controlled)
- Past cancer (more than 2-3 years ago, depending on type)
The key word here is “controlled.” If you’re managing your conditions with medication and regular doctor visits, you’ll likely qualify for simplified issue coverage.
How Much Coverage Do You Actually Need?
This is one of the most important questions, and the answer varies by family. Here’s how I help my clients think through it:
Average Funeral Costs
According to the National Funeral Directors Association, the median cost of a funeral with burial is around $9,000-$12,000. But this can vary significantly based on your location and preferences:
- Basic burial: $7,000-$10,000
- Traditional funeral with burial: $10,000-$15,000
- Elaborate funeral: $15,000-$25,000+
Additional Expenses to Consider
- Outstanding medical bills
- Credit card debt
- Utility bills and other monthly expenses for a few months
- Probate costs
- Travel expenses for family members
Many of my clients choose $15,000-$20,000 in coverage to ensure their families have enough to handle the funeral plus some additional expenses without financial stress.
Benefits of Burial Insurance for Seniors Over 70
No Medical Exam Required
For most seniors, the idea of scheduling a medical exam feels overwhelming. With burial insurance, you can often get approved with just a phone interview or online application.
Level Premiums
Your premium will never increase. What you pay at 70 is what you’ll pay at 90, assuming you keep the policy in force.
Cash Value Options
Some burial insurance policies build cash value that you can borrow against if needed. This isn’t common with all policies, but it’s worth asking about.
Fast Approval
Many simplified issue policies can be approved the same day you apply. If you need coverage quickly, this is a huge advantage.
Family Peace of Mind
Perhaps most importantly, burial insurance removes the financial burden from your family during an already difficult time.
Common Mistakes to Avoid
Waiting Too Long
I see this mistake constantly. People think they’ll apply “next year” or “when I turn 75.” But every year you wait, the premiums get more expensive, and your health could change in ways that affect your eligibility.
Buying Too Little Coverage
In an effort to keep premiums low, some people buy $5,000 policies when they really need $15,000. Remember, if the coverage isn’t enough, your family will still be stuck with out-of-pocket expenses.
Not Shopping Around
Different carriers have different underwriting guidelines and pricing. What one company might decline, another might approve at standard rates. This is where working with an independent agent makes a huge difference.
Forgetting About Inflation
A $10,000 funeral today might cost $15,000 in 10 years. Consider this when choosing your coverage amount.
Questions to Ask When Shopping for Coverage
When you’re comparing policies, make sure you understand:
- Is this simplified issue or guaranteed issue?
- What is the graded death benefit period? (for guaranteed issue)
- Are the premiums level for life?
- What happens if I miss a payment?
- Can I add more coverage later?
- Does the policy build cash value?
- What is the insurance company’s financial rating?
Working with an Independent Agent
Here’s where I believe working with an independent agent makes all the difference. I represent multiple insurance carriers, which means I can shop your application with different companies to find the best fit.
Some carriers are more lenient with diabetes. Others are better for people with heart conditions. Some offer better rates for women, others for men. When you work with a captive agent who only represents one company, you only see that one option.
I can also help you navigate the application process, understand the policy terms, and make sure your beneficiaries know how to file a claim when the time comes.
The Bottom Line
Burial insurance for seniors over 70 is not only available – it’s designed specifically for your age group. Yes, it’s more expensive than it would have been at 50, but it’s also much more accessible than traditional life insurance.
The key is not waiting. Every month you delay, the premiums get higher and your health could change in ways that affect your options. If you’re 70 and in reasonable health, simplified issue coverage is likely available to you right now at rates that will stay level for the rest of your life.
The peace of mind that comes with knowing your family won’t face financial stress during an already difficult time? That’s worth far more than the monthly premium.
Finding the right burial insurance doesn’t have to be complicated. As an independent agent, I work with multiple top-rated carriers and can help you compare options to find the best coverage at the best price.
- Burial insurance for seniors 70+ is specifically designed for your age group—no medical exam required
- Coverage typically ranges from $5,000-$50,000; most seniors need $15,000-$20,000
- Simplified issue offers immediate full coverage; guaranteed issue has a 2-year waiting period
- Premiums are level for life—what you pay at 70 is what you’ll pay at 90
- Don’t wait—every year you delay, premiums increase and health could change
Related Reading
- Affordable Final Expense Insurance: Your Complete Guide
- Funeral Insurance for Seniors: Your Complete Guide
- Graded Benefit Whole Life Insurance: Your Complete Guide
- Understanding Final Expense Insurance
Let me do the shopping for you. I’ll compare quotes from multiple companies, help you understand the underwriting requirements, and find coverage that fits your needs and budget – even if you have health concerns that might complicate the process.
