Funeral costs in 2026 are around $10,000, according to surveys from the National Funeral Directors Association. This is why most brokerage agencies, like Final Expense Benefits, and insurance companies use $10,000 as a baseline for senior life insurance policies. However, many factors affect the costs and availability of $10,000 life insurance for seniors, including health, age, and gender.
We can help you understand every cost of life insurance and find a great policy that fits your needs and budget. Final Expense Benefits partners with over 20 top life insurance companies to help you find quality, affordable coverage.
To learn more about your options for $10,000 life insurance, call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET, or check our free online quoting tool for a personalized pricing estimate.
Key takeaways
The average funeral costs $10,000, which is why $10,000 burial insurance policies are so common.
Term life insurance doesn’t typically offer $10,000 payouts.
The best option for $10,000 life insurance for seniors is burial insurance.
Burial insurance is a low-cost type of whole life insurance designed to accept seniors with medical conditions at low costs.
How Much is $10,000 Life Insurance for Seniors?
Typically, there are three different kinds of life insurance options available for seniors. Here are the rates that you can expect from burial, term, and guaranteed issue life insurance:
1
$10,000 Burial Insurance Rates by Age
| Company |
Male 50y/o |
Female 50y/o |
Male 60y/o |
Female 60y/o |
Male 70y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$34 |
$27 |
$50 |
$40 |
$70 |
$56 |
|
|
$31 |
$26 |
$43 |
$35 |
$71 |
$53 |
|
|
$31 |
$24 |
$44 |
$33 |
$75 |
$53 |
|
|
$34 |
$29 |
$45 |
$35 |
$79 |
$59 |
|
|
$33 |
$26 |
$48 |
$36 |
$82 |
$58 |
These figures are estimates only, based on a $10,000 final expense insurance policy with a non-smoking applicant with no pre-existing conditions.
2
$100,000 Term Life Insurance Rates by Age
Unfortunately, most term life insurance policies do not go as low as $10,000, so here are the rates you can expect from a $100,000 20-year term life policy:
| Company |
Male 30 y/o |
Female 30 y/o |
Male 40 y/o |
Female 40 y/o |
Male 50 y/o |
Female 50 y/o |
|---|---|---|---|---|---|---|
|
$23 |
$23 |
$32 |
$28 |
$57 |
$46 |
|
|
$21 |
$21 |
$31 |
$31 |
$57 |
$57 |
|
|
$22 |
$21 |
$38 |
$36 |
$79 |
$75 |
|
|
$33 |
$30 |
$44 |
$39 |
$99 |
$71 |
These figures are estimates only, based on a $100,000 20-year term life insurance policy with no applicant pre-existing conditions.
3
$10,000 Guaranteed Issue Life Insurance Rates by Age
| Company |
Male 50y/o |
Female 50y/o |
Male 60y/o |
Female 60y/o |
Male 70y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$91 |
$86 |
$115 |
$101 |
$157 |
$129 |
|
|
$61 |
$42 |
$74 |
$59 |
$115 |
$87 |
These figures are estimates only, based on a $10,000 guaranteed issue final expense insurance policy with no applicant pre-existing conditions.
Types of $10,000 Life Insurance for Seniors
Seniors can choose from a few different types of life insurance, but there is a clear best choice: burial insurance. Here’s an overview of the options for $10,000 life insurance for seniors:
1
Final Expense Insurance
Also known as burial insurance, final expense insurance is a type of whole life insurance designed specifically for seniors. Like all whole life insurance, burial policies offer:
- Premium rates locked at the policy’s start
- Benefits that will never decrease
- Coverage for the rest of your life (as long as you pay premiums)
- Cash value growth
Burial insurance death benefits are designed to cover seniors’ needs, with average payouts ranging from around $5,000 to $50,000. This adds more flexibility to burial insurance: use the benefit to cover whatever you need, from a smaller payout for cremation to a sizable inheritance for loved ones.
We highly recommend that seniors invest in a final expense insurance policy since it is the most affordable option with the best benefits.
2
Term Life Insurance
Term life insurance covers for a set period, typically 10 to 30 years. They are normally used by young adults as income replacement in case of death, but seniors can use them, too. Death benefits for term life insurance usually range from $100,000 to over $5 million.
Few providers offer $10,000 term life insurance. For assistance in finding term life options, call Final Expense Benefits. However, we recommend seniors seeking $10,000 life insurance coverage get burial insurance.
3
Guaranteed Issue Life Insurance
Guaranteed issue life insurance is a whole life insurance option that doesn’t consider medical conditions when an applicant applies. These policies can be a great choice for seniors in poor health. However, because they guarantee acceptance, rates tend to be higher, and they have a waiting period of at least two years.
Seniors have many better options when seeking coverage for their funerals and final expenses, so unless you have severe pre-existing conditions, we recommend looking at other options.
Can Seniors Get $10,000 Life Insurance with Pre-Existing Conditions?
Yes, if you have pre-existing conditions, you will be eligible for a $10,000 life insurance policy. However, their eligibility and rates mostly depend on the condition’s severity. With final expense insurance, there are simplified health requirements, and coverage is built for seniors’ needs.
Here are a few different burial insurance types that you should know about:
Simplified Issue vs. Guaranteed Issue: Which Do You Need?
Both simplified and guaranteed issue life insurance are whole life policies. However, guaranteed issue life insurance cannot reject your application based on your health.
Since premiums are typically higher than the average, we recommend guaranteed issue life insurance as a last resort.
Our $10,000 Life Insurance Recommendations
All of our top-rated life insurance providers are great options, but here are some of our top recommendations based on affordability, ease of application and approval, and customer service:
- Aetna Accendo
Backed by CVS Health, Aetna Accendo offers reliable, affordable, and accessible burial insurance policies. Their relaxed underwriting means that seniors with a wide range of health concerns qualify for competitive rates. Their policies also come with the added benefit of access to the wide Aetna Senior Products catalog. - Americo
Americo offers a wide range of affordable burial insurance options to fit any health profile. Thanks to their simple underwriting practices, Americo is another standout option for smokers or seniors with pre-existing health conditions. - Mutual of Omaha
A trusted name in life insurance, Mutual of Omaha offers low burial insurance rates and great customer service. Mutual of Omaha provides plans with immediate coverage that normally don’t require a medical exam.
To learn more about our top-rated life insurance partners, contact Final Expense Benefits. We’ll help you find a great plan at a great price.
$10,000 Life Insurance Providers to Avoid
Unfortunately, not all life insurance companies offer good value. Here are some insurers we recommend seniors avoid:
- AARP
AARP is a recognized name and offers many great benefits to seniors, but life insurance isn’t one of them. AARP partners with New York Life Insurance to provide group burial policies, but they should be avoided due to high rates and limited flexibility. - Colonial Penn
The Colonial Penn 995 plan is a household name thanks to its advertising, but it offers limited benefits and poor value. Seniors with a Colonial Penn policy often end up paying high rates for minimal coverage. - Lincoln Heritage
Lincoln Heritage is another insurer that spends too much time on advertising and not enough providing quality insurance. They’re known more for their pushy sales representatives, high rates, and poor customer reviews than for their coverage.
Pros and Cons of $10,000 Final Expense Insurance for Seniors
Pros
- Peace of mind for your family
Your family will be secure knowing that your final expenses are covered. They won’t have to worry about the cost of your funeral or the debts you leave behind since you have already gifted them peace of mind. - Option to leave your beneficiaries an inheritance
Depending on the cost of your funeral, you can leave an inheritance for your family. Any leftover funds will be given to your beneficiary. - Cheaper premiums
Monthly premiums are cheaper than typical life insurance policies, which is why we recommend getting final expense insurance. Seniors on a budget can afford the realistic premiums. - Available to those with pre-existing conditions
Seniors with pre-existing conditions can get life insurance through burial insurance’s lax underwriting rules.
Cons
- Can be pricey depending on your health
Depending on your health, final expense insurance (and most whole life insurance options) can be pricey. Especially if guaranteed life insurance is your only option. - $10,000 may not be enough for a funeral
If you want a more elaborate funeral, $10,000 might not be enough to fully cover your funeral. - Premiums never stop
Until you pass away, you must continue paying your premiums to be covered with your insurance policy.
How Final Expense Benefits Can Help You Find The Best $10,000 Life Insurance Policy
Final Expense Benefits is a top-rated life insurance agency that teams up with over 20 of the best life insurance providers to connect you to the best affordable life insurance. Our agents are life insurance experts and are here to help you find a great deal for a quality plan.
We’ll help you select from a variety of carriers, determine what life insurance riders you may need for extra coverage, and find the most affordable rates. Since 2022, we’ve helped thousands of customers with the Final Expense Benefits difference.
With over 100 top-rated reviews, we have many satisfied customers to choose from. Here are some of our highlights:
Kenneth & Valerie H.
5/5
Melenie B
5/5
Diane C
5/5
Final Thoughts
$10,000 is a great baseline for life insurance: it’s enough to cover most funerals, and can give your loved ones peace of mind in a tough time. If you’re considering a $10,000 life insurance policy to help cover your final expenses, we can help you find a reliable plan at an affordable rate.
As a top-rated brokerage, Final Expense Benefits partners with over 20 of the best life insurance providers to help you get a great policy. Contact us to learn more about your options and to start your application today.
Call Final Expense Benefits at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET, to learn more about life insurance, or check our free online quoting tool for a personalized pricing estimate.
FAQ
Is $10,000 enough for final expense coverage?
It depends on the type of funeral you’d like, how much debt you’re leaving behind, and the inheritance you want to give to your beneficiaries. Typically, $10,000 is enough to cover your funeral expenses, which is why we recommend that amount of coverage.
How much is a $10,000 life insurance policy per month?
This will largely depend on your age, health, and gender. However, you can expect the monthly premiums to be around $30 to $60.
What’s the difference between burial insurance and life insurance?
Burial insurance is meant to cover funeral and burial expenses. However, it is still a life insurance policy, so the difference is in name alone. Technically, beneficiaries can use burial insurance payouts for whatever they need.
Can I get $10,000 life insurance if I have a pre-existing condition?
Yes, you can get a $10,000 life insurance policy if you have a pre-existing condition. However, your rates will most likely be higher than the average premium.
What happens if I outlive my term life insurance policy?
If you outlive your term life policy, you will have the option to renew your policy at a higher rate. Some companies will allow you to convert your policy into a whole life policy, but you’ll need to check your policy to see if that is possible.