Personal insurance, often called burial insurance or final expense insurance, is a small whole life insurance policy designed to cover end-of-life costs, including funeral expenses, medical bills, and outstanding debts. This type of coverage provides peace of mind to aging individuals, ensuring their loved ones are not left with unexpected financial burdens.
In 2025 top insurance providers such as Mutual of Omaha, Gerber Life, AIG, and Transamerica continue to offer personal insurance with flexible policies and competitive rates. Unlike traditional life insurance, personal insurance (also known as final expense insurance) is easier to qualify for, making it an attractive option for seniors with health conditions.
Why Personal Insurance (Burial Insurance) Matters to Aging Consumers
As funeral costs continue to rise, many aging individuals turn to personal insurance, burial insurance or final expense insurance as a financial safety net. Here’s why it’s valuable.
- Funeral costs covered—The average funeral costs over $8,300, not including medical and legal expenses
- No medical exam required—Most policies offer guaranteed acceptance for seniors up to age 85
- Premiums fixed for life—Premiums never increase, ensuring affordability
- Quick payouts provided—Benefits are typically paid within a few days, allowing families to cover expenses promptly
- Loved ones protected from financial strain—Ensures that surviving family members are not burdened with sudden expenses
Best Personal Insurance Providers in 2025
Several well-known insurance providers offer personal insurance plans, also referred to as burial insurance or final expense insurance, with varying coverage options. Here are some of the top-rated companies:
Mutual of Omaha – Best for No Waiting Period
If you’re looking for a trusted provider with no waiting period for coverage, Mutual of Omaha offers competitive burial and personal insurance plans to meet your needs.
- Coverage: $2,000-40,000
- Ages: 45-85
- Pros: No waiting period, competitive pricing, fast claim payouts
- Cons: Limited to whole life policies only
Gerber Life Insurance – Best for Financial Stability
For seniors seeking financial stability and guaranteed acceptance, Gerber Life Insurance is a well-known name in final expense and personal insurance.
- Coverage: $5,000-25,000
- Ages: 50-80
- Pros: Guaranteed acceptance, no medical exam
- Cons: Two-year waiting period for full benefits
American International Group (AIG) – Best for Guaranteed Issue
If health concerns are a barrier, AIG’s guaranteed issue policies provide a hassle-free option with no medical exam required.
- Coverage: $5,000-25,000
- Ages: 50-85
- Pros: No medical exam, lifetime coverage
- Cons: Two-year waiting period before full payout
Transamerica – Best for Higher Coverage Limits
For those needing higher coverage options to protect their families, Transamerica offers flexible personal insurance plans with limits up to $50,000.
- Coverage: $1,000-50,000
- Ages: 45-85
- Pros: Large coverage options, fast approval
- Cons: Some policies require health screening
Other providers such as Aetna, Royal Neighbors, and Liberty Bankers Life also offer competitive personal insurance policies.
Key Benefits of Personal Insurance in 2025
Personal insurance, also known as final expense insurance or burial insurance, offers the following key benefits:
- Simplified issue policies— Although simplified issue policies don’t require a medical exam, applicants must answer health questions as part of the application process. These policies generally have lower premiums compared to guaranteed issue policies, making them a cost-effective option for those who can meet basic health requirements.
- Guaranteed issue policies—Available to everyone, without medical exams or health questions being required, guaranteed issue policies ensure 100% acceptance. However, these policies often have higher premiums and include a two-year waiting period before the full death benefit applies.
- Preneed funeral plans—Arranged directly through a funeral home, preneed funeral plans allow individuals to select and pay for services in advance. While this locks in today’s prices, it lacks the flexibility of personal insurance policies that allow beneficiaries to use funds as needed.
Most seniors opt for simplified or guaranteed issue personal insurance in order to secure coverage quickly and avoid financial stress for their families.
Consumer Recommendations for Q1 2025
If you’re considering personal insurance, here are some tips to make the best choice:
- Compare multiple quotes—Rates vary by provider so get at least three quotes
- Check for waiting periods—Policies with no waiting period provide full benefits immediately
- Verify financial strength—Look for companies rated A or higher by AM Best for financial stability
- Ensure premiums are fixed—Avoid policies that increase premiums over time
- Work with a licensed agent—Local agents can help you find the best coverage for your state
To find a licensed agent near you, visit Medicare.gov or your state’s insurance department website. By securing personal insurance now, you ensure peace of mind for yourself and financial security for your loved ones.
Sources:
- Aflac: Final Expense Whole Life Insurance
- Choice Mutual: 2025 AIG Guaranteed Issue Final Expense Insurance Review
- Choice Mutual: 8 Best Burial Insurance Companies
- CNBC: The best burial insurance companies in 2025
- Consumer Reports: The Last Goodbye: How to Plan a Funeral
- Insurance & Estates (I&E): Top 14 Best Final Expense and Burial Insurance Companies
Further Thoughts
Personal insurance, alternately referred to as burial insurance or final expense insurance, remains a reliable and affordable option for seniors looking to cover end-of-life expenses in 2025. With trusted providers like Mutual of Omaha, Gerber Life, AIG, and Transamerica, consumers can secure coverage that fits their needs and budget. By comparing options and consulting with a licensed agent, you can ensure that your loved ones are financially protected when the time comes.
For more insights and innovative solutions in digital marketing, visit Innovation Direct Group.
#customerexperience #digitalmarketing #innovationdirectgroup