Updated: Dec 9, 2020

There have been many articles written regarding WHICH insurance carrier is the best— not everyone agrees, so, which insurance company really is the best? You may find an interest in the answer to that question.

In this short article, we'll give you the true answer to that question and much more.

Continue reading or click a link below to jump to the section that interests you most.

Covered Topics

What is Final Expense a.k.a. Burial Insurance?

Available Insurance Policy Programs

The Best Insurance Carrier

How can AffinityQuotes help?

What Exactly is a Final Expense Insurance Policy?

A Final Expense insurance policy, also known as Burial Insurance, is a smaller no-exam life insurance plan that is designed to provide a quick cash payout to your beneficiary so they have the money needed to pay for end-of-life expenses. These are typically burial costs, any debts, funeral procession, memorial services, cremations, etc.

What types of insurance programs are available to me?

With Final Expense insurance, there are three (3) policy types with any given insurance carrier:

Level Benefit: The lowest-cost option with coverage that begins immediately.

Graded Benefit: This option has higher premiums than a Level Benefit AND a delayed payout during the first 2-3 years, depending on the insurance carrier.

Guaranteed Issue benefit: The highest-priced option and comes with a 1-2 year waiting period on the benefit payout, depending on the insurance carrier.

Graded and Guaranteed Issue plans cost more than a Level plan and comes with a waiting period. The length of the waiting period depends on your health conditions, but a 1 - 2 year wait is the most common wait duration.

Medical exams are not required, and even serious health issues won't prevent you from getting a policy. The benefit amounts usually range from $2,000 - $40,000.

And the Best insurance carrier out there is...!

The #1 Final Expense insurance company is... the one that best fits you and your needs!

That's right, with insurance companies (insurers) there are NO one-size-fits-all companies.

People often rate insurance companies in terms of pricing and/or their underwriting (risk assessment) guidelines, but the company that is lowest for one individual may not be the lowest option for another.

Consider this:

Mrs. Jones wants a $10,000 burial policy for herself so that her daughter (her beneficiary) doesn't have to come out of pocket to pay for her end-of-life expenses.

Mrs. Jones is 66 years old, has COPD, and lives in Iowa.

Her neighbor, Mrs. Carter, also 66 years old, doesn't have any health conditions.

Will they pay the same cost or monthly premium? No, they will not! As of this writing (Dec. 2020) for a $10,000 policy Mrs. Jones will pay $52.48 a month (with MUTUAL OF OMAHA), and Mrs. Carter will pay $40.79 a month (with LIFESHIELD NATIONAL INSURANCE CO.)

These figures come from out of nearly 3 dozen insurance carriers, and currently represent the lowest costs available. Their pricing is dependent on their age and their health conditions and both determine the policy type and the cost (monthly premium) they qualify for.

So, the best company is the one that will give you the best rate depending on your particular age and health conditions!

Now, it is true that some companies have higher credit ratings (see A.M. Best Ratings), and some companies have been around longer than others, which lends to their creditability, but insurance companies don't price their policies based on these factors.

How do you know if an insurance carrier is right for you?

When applying for an insurance policy, here are five (5) key factors you want to ensure your policy does for you:

Your monthly rates are locked in for life.

The policy is guaranteed never to expire.

The benefit amount is guaranteed to never decrease.

The policy builds cash value (you can potentially borrow from in an emergency).

Policy comes with an 'Accelerated Death Benefit Rider' (usually added free-of-charge).

How Can AffinityQuotes Assist You?


If you're looking for a life insurance policy, AffinityQuotes will help determine if you need a Level, Graded, or Guaranteed Issue policy and then find the BEST insurance carrier for you.

Here’s why we believe that…

We're an independent agency representing many different insurance carriers. We're not obligated to any one carrier which gives us the freedom to shop the best deal for YOU.

Shopping multiple carriers is important especially if you have a major health concern.

To get the best deal you have to look at as many insurance companies as possible to find the one that will give you the best rates for the particular health issues you may have.

AffinityQuotes shops dozens of insurance carriers to find which one(s) will accept you based on your health conditions.

Whatever questions you have, we'll provide the answers to you at no cost.

Call 855-400-7766 to see what a licensed AQ agent can do for you.

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