How Much Burial Insurance Do I Need at 65?
At Diversified Insurance Brokers, we help seniors find affordable burial insurance plans that cover final expenses without leaving a financial burden on loved ones. If you’re age 65, the right amount of coverage depends on your personal situation—most people choose between $10,000 and $25,000 to cover funeral costs, outstanding debts, and other end-of-life expenses.
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How to Determine Your Coverage Amount
- Funeral & Burial Costs: The average funeral in the U.S. costs between $8,000–$12,000.
- Outstanding Debts: Include credit cards, personal loans, or small medical bills.
- Family Needs: Leave enough to help loved ones with any immediate expenses.
- Inflation: Funeral costs rise over time—plan for future prices, not today’s only.
Why Age 65 Is a Good Time to Buy
At age 65, premiums are still more affordable compared to later years, and you may still qualify for first-day coverage with no waiting period, depending on health. Securing a policy now ensures your loved ones are financially protected and gives you peace of mind.
Our Take
Most people at 65 choose between $10,000 and $25,000 in coverage for burial insurance. At Diversified Insurance Brokers, we compare multiple carriers to find the best rates and first-day coverage options for your needs.
FAQs: How Much Burial Insurance Do I Need at 65?
How do I estimate the right burial insurance amount at age 65?
A simple rule is final expenses + short-term debts + small legacy minus existing resources (cash, savings, existing life insurance). Many 65-year-olds choose $10,000–$25,000, but needs vary by location and wishes.
What do typical final expenses cost?
Funeral and burial (or cremation) costs, obituary/ceremony, flowers, headstone/urn, and death certificates commonly total $8,000–$15,000+, depending on local pricing and choices.
Should I include medical bills or small debts in my amount?
Yes—add expected medical bills, credit cards, or personal loans you don’t want loved ones to handle. Many applicants add $2,000–$5,000 for this cushion.
Do I subtract the Social Security death benefit?
You can. If your beneficiary will qualify for a small government death benefit, subtract that amount from your target coverage, along with any existing life insurance or savings earmarked for final expenses.
How does inflation affect my choice?
Final-expense costs generally rise over time. If you plan to keep the policy for life, consider choosing a slightly higher face amount (or a policy with an inflation/increasing benefit rider, if available).
Is burial insurance the same as final expense whole life?
Usually yes. It’s a small-face-amount whole life policy with level premiums, lifetime coverage, and a guaranteed death benefit used to pay funeral and other expenses.
What’s the difference between simplified-issue and guaranteed-issue?
Simplified-issue: no exam, a few health questions, often no waiting period and lower premiums if approved. Guaranteed-issue: no health questions, typically a graded benefit (first 2 years) and higher premiums.
Can I get coverage if I’m 65 with health conditions?
Yes. Many insurers offer simplified-issue options with health questions, and guaranteed-issue plans if you don’t qualify—just account for the graded period.
Which riders should I consider?
Common riders include accelerated death benefit (terminal illness), accidental death, and sometimes child/grandchild riders. Riders vary by carrier and state.
How do I keep premiums affordable at 65?
Choose a face amount that matches your true need, compare multiple carriers, and consider simplified-issue if you can qualify. Avoid over-insuring—final expense plans are designed to be small and permanent.
Quick worksheet to set my amount?
(A) Funeral & burial/cremation estimate
(B) Debts & medical cushion
(C) Legacy gift (optional)
(D) Subtract savings/other life insurance/benefits
Target face amount = A + B + C − D
Disclosures: Product features, issue ages, riders, and graded periods vary by carrier and state. Premiums depend on age, gender, tobacco use, face amount, and underwriting class. This is general information—not legal or tax advice.
