Posted on June 4th, 2025

Have you ever found yourself pondering the complexity of final expense planning, possibly while reminiscing about all the wonderful moments enjoyed in your life? As you consider each chapter, it’s natural to reflect on the practicalities of what lies ahead. 

What is Burial Insurance?

Burial insurance, sometimes referred to as final expense insurance, is a type of life insurance policy specifically designed to cover end-of-life costs such as funeral expenses, burial fees, and, in some cases, remaining medical bills or small debts. Unlike standard life insurance plans, which often involve larger death benefits and extensive underwriting processes, burial insurance focuses on simplified coverage with lower face amounts.

Most policies range between $5,000 and $25,000, a figure that aligns with average funeral costs in the United States. Because of its lower face value and straightforward application requirements, this type of policy is particularly attractive to retirees who want to avoid burdening their families with unexpected costs.

The application process for burial insurance is often streamlined compared to other life insurance products. Many insurers offer simplified underwriting that may require only a few health questions, skipping the need for a full medical exam. This ease of access makes it possible for individuals with existing health conditions—such as diabetes, heart disease, or a history of cancer—to obtain coverage that might otherwise be difficult or very expensive to secure.

Benefits of Burial Insurance for Retirees

When evaluating burial insurance, retirees often discover several key advantages that go beyond just covering funeral costs. The following points highlight these benefits in more detail:

• Rapid Payouts Reduce Financial Strain on Loved Ones: Once the insurer processes the claim, beneficiaries receive funds quickly, helping them arrange and pay for final expenses without undue stress. This fast benefit delivery removes the uncertainty of waiting weeks for funds, allowing families to make immediate decisions regarding funeral arrangements.

• Minimal Health Requirements Grant Broad Accessibility: Many burial insurance plans ask only a few health-related questions and rarely require a medical exam, making it possible for retirees with health issues to qualify. This accessibility means even those with chronic conditions can secure coverage without facing prohibitively high premiums.

• Fixed Premiums Safeguard Against Rising Costs: As a whole life product, burial insurance locks in your premium amount at the time of purchase, so you never face unexpected increases in later years. This financial predictability is a major relief for pensioners living on fixed incomes who need stable monthly expenses.

• Flexible Use of Payout Empowers Beneficiaries: Beneficiaries can allocate the death benefit toward any costs they deem necessary—be it the funeral home, burial plot, medical bills or short-term household expenses. Having the freedom to choose how to spend the funds helps families address the most pressing needs in a timely manner.

• Cash Value Accrual Offers Potential Financial Cushion: Over time, part of each premium accrues as cash value, which can sometimes be borrowed against if circumstances require emergency funds. Although the cash value grows slowly, it provides an extra layer of security by offering a tangible asset that can be accessed in dire situations.

Each feature works together to deliver a policy that lifts a tangible burden from your family. Retirees gain peace of mind knowing that final expenses are prearranged and that loved ones can focus on emotional support rather than scrambling for funds. In this way, burial insurance serves as a practical and considerate tool that combines financial security with emotional relief during a challenging time.

Evaluating Affordability for Retirees

Assessing the affordability of burial insurance requires figuring out how its cost structure aligns with a retiree’s budget. Typically, premiums are calculated based on factors such as age, gender, and the amount of coverage desired.

Since burial policies focus on modest face amounts, the monthly premiums can be surprisingly low—often ranging from as little as $20 to $50 a month for coverage up to $15,000 or more. This cost level is usually easier to incorporate into a retirement plan than a larger life insurance policy would be. Many insurers also offer payment schedules that allow policyholders to choose monthly, quarterly, or annual billing, enabling further flexibility in managing finances.

Because burial insurance does not require a medical exam, rates are primarily determined by your age and general health profile. As you age, the premium for the same coverage amount may rise, which highlights the advantage of applying at an earlier retiree age rather than waiting until later in life.

For example, a 65-year-old might pay $30 a month for a $10,000 policy, while an 80-year-old might pay $70 a month for the same amount of coverage. By locking in rates in your late 60s or early 70s, you can avoid steeper premiums that come with advanced age. This constantly means timing your application can yield significant long-term savings.

Balancing Budgeting with Leisure: Planning for Both

Retirement often represents a period to pursue passions, travel, and enjoy time with friends and family. While prudent financial planning is key, it should not preclude the possibility of leisure activities that enrich your life.

Burial insurance, by taking care of final costs in advance, can free up funds that might otherwise remain earmarked for funeral expenses. This financial clarity creates breathing room in your budget, allowing you to allocate money towards fulfilling experiences—such as weekend getaways, road trips, or hobbies you’ve always wanted to explore. Here’s one way this dynamic plays out in real life:

• Allocating Funds for Travel Without Compromising Security:
  By covering funeral costs through insurance, retirees can confidently set aside money for vacations instead of holding large sums in savings solely for end-of-life expenses. This shift in how funds are earmarked means that the same dollars potentially serve two purposes—covering final arrangements and providing memorable getaways.

• Comparing Costs of Leisure vs. Preparedness:
  Imagine you plan a trip that costs $2,000. If you had instead saved that $2,000 in a traditional savings account without insurance, those funds would be sequestered, unavailable for other aims. By purchasing a burial policy that costs $25 a month, you spread out the cost over years and preserve the bulk of your savings for travel. This approach allows you to strike a balance between enjoying life today and preparing for tomorrow’s needs.

• Finding Affordable Vacation Options That Maximize Value:
  With burial insurance premiums locked in, you know exactly how much will be deducted from your monthly budget. Use that predictability to research low-cost destinations—such as national parks, off-season resorts, or senior discounts on cruises. Those dollars saved on lodging or airfare can stretch your retirement travel fund, enabling you to see more places without overstretching your budget.

• Incorporating Family into Both Planning and Leisure:
  When discussing burial insurance with loved ones, you can also include them in planning annual trips or weekend activities, turning financial conversations into opportunities for shared memories. For example, the same family members who benefit from knowing final expenses are covered might join you for a lakeside cabin retreat. By weaving these plans together, budgeting and enjoyment go hand in hand.

The balance between planning and pleasure becomes clearer with burial insurance in place. You can prioritize your bucket-list trips, weekends at affordable vacation spots, or exploring new pastimes, all while knowing that final expenses won’t derail those plans. By unlocking this financial flexibility, your retirement can be rich with both security and adventure.

Related: Preserving Your Legacy: The Role of Life Insurance

Conclusion

End-of-life planning can be a delicate subject, yet it is one of the most compassionate actions you can take for those you care about. Burial insurance offers a straightforward way to cover funeral and related expenses, easing the financial burden that often accompanies loss. By securing this type of policy, you free up emotional and financial space to focus on the moments that matter—sharing laughter, traveling to cherished destinations, and enjoying everyday pleasures.

At The Show-Me Group, we provide accidental death insurance that delivers key financial security, ensuring your family is protected during unforeseen events. With coverage amounts up to $30,000, our policy offers invaluable peace of mind at a time when it is needed most. To explore burial insurance, accidental death coverage, or other life insurance solutions tailored to your unique situation, give us a call at (314) 602-7665. Let us help you balance planning with living fully, offering you and your family confidence that tomorrow is prepared for, so you can focus on the joys of today.