The Top 5 Final Expense Life Insurance Companies

Last Updated April 23, 2024
top 5 final expense life insurance companies
We’ve researched over 51 of the Top Insurance Companies bringing you only the top 5 we’d recommend to our community.
Finding the right final expense life insurance can be an overwhelming task. Don’t worry, the team here at Final Expense Benefits has you covered to save you from getting buried in debt.
Our team reviewed policy features, age and state availability, and extra value — such as free riders — to narrow down the list of the top final expense insurance companies. We also looked at payment alternatives and the amount of coverage available, which for this sort of life insurance normally starts at $5,000 and goes up to $50,000.

What is Final Expense Insurance?

Final Expense insurance is a form of permanent whole life insurance designed to pay for final expenses such as burial, cremation and funerals.

On average, most final expense insurance plans have a face amount cap of around $50,000 but this all depends on your age and your current state of health. Some of the top final expense insurance companies offer coverage amounts higher than this, although rare. 

A great attribute of final expense insurance is that even seniors with pre-existing health conditions can qualify without having to be asked medical questions or take a medical exam.

Things to Consider Before you Buy Final Expense Insurance

When doing your research, it’s important to know there is no “one size fits all” final expense insurance plan. The top final expense insurance companies have a plan that’s right for you, it’s just important to correctly weigh your options. The plan your brother, spouse or neighbor has may not be the best plan for you.

Here are a few things you should keep in mind when shopping for final expense insurance:


As you’ll see in our review below, each insurance company has different requirements. This doesn’t mean you’ll pay more because you have a certain condition or the form of payment you choose to use, it’s just that each carrier views these things different.

How much does final expense insurance cost?

On average, final expense insurance can cost between $40 and $75 per month per $10,000 in coverage, with the best final expense companies sometimes offering monthly premiums that are even less than this.

It takes minutes to apply and some of the top insurance carriers don’t even ask you medical questions.

Our Top 5 Final Expense Insurance Companies

The top insurance carriers we recommend will offer you plans with no waiting periods and face values from $1,000 to $50,000.

Our Top 5 best final expense companies include:

  1. CVS Health/Aetna
  2. Prosperity
  3. Americo
  4. AIG
  5. Mutual Of Omaha

We purposely don’t work with companies like:

  1. Colonial Penn 
  2. Lincoln Heritage

These companies tend to leave seniors misled, under insured and over paying. 

#1. CVS Health/Aetna

5-Star Rated Carrier

CVS Health takes our top spot on this list of the best final expense companies due to it’s flexible underwriting, competitive pricing and reputation paying claims quickly.

What we LOVE about CVS Health/Aetna is:

  • Simple Application Process – Very straight forward simple application process
  • Flexible Underwriting – No Height or Weight requirements, you qualify for coverage from ages 40-89 and some serious medical conditions such as COPD and Parkinson’s Disease qualify for Standard underwriting.
  • Competitive Pricing – CVS Health consistently remained one of the more budget friendly options with rates as low as $49.83 for a 55 Year Old Female.

#2. Prosperity Life

4.5 Star Rated Carrier

Prosperity comes in at #2 on our list of the top final expense companies due to it’s payment flexibility, budget friendly pricing and .

What we LOVE about Prosperity is:

  • Flexible Payment Options – One of the few carriers that allows Debit & Direct Express Cards.
  • Instant Decision Application – Prosperity offers an instant decision phone application making the process simple and smooth as possible.
  • Competitive Pricing – Similar to CVS Health, Prosperity consistently comes in as one of the cheapest final expense life insurance companies available.

#3. Americo

4.5 Star Rated Carrier

Americo comes in at #3 on our top final expense companies list, but for Tobacco users, this could be your top option.

What we LOVE about Americo is:

  •  Tobacco Use Friendly – Americo offers the same rates for Tobacco users as it does Non-Tobacco users making this the go to product for Tobacco users.
  • Strong Financial Stability- Americo Financial Life has a financial strength rating of A with A.M. Best’s rating after a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance, and business profile.
  • Flexible Underwriting – Americo is one of the few carriers to approve those of you that have Sickle Cell Anemia and/or Seizures.

#4. AIG

4 Star Rated Carrier

AIG comes in at #4 on our list of the top final expense companies. It’s the go to guaranteed issue carrier offering budget friendly premiums and accepts all forms of payment. 

What we LOVE about AIG is:

  • Guaranteed Issue – No matter your health, you can get insurance through AIG. No Medical Exam. No Medical Questions. Zero.
  • Flexible Payment Options – AIG accepts bank transfer, direct expres, credit and debit cards making it painless to pay for coverage.
  • Budget Friendly- AIG is consistently among the lowest cost companies, especially for those with serious medical conditions.

#5. Mutual Of Omaha

4 Star Rated Carrier

Mutual of Omaha comes in at #5 on our best final expense companies list, offering a competitively priced and well-known product. 

What we LOVE about Mutual of Omaha is:

  • Brand Recognition – Wild Kingdom anyone? There are few carriers more well known than Mutual of Omaha.
  • Competitive Pricing – Mutual of Omaha does a good job of consistently coming in as one of the more affordable options.
  • Excellent Customer Support – Mutual of Omaha has one of the strongest customer support teams in the industry.


All 5 of these carriers are rock solid options and the top option for you with depend on your medical conditions, form of payment and your Tobacco use.

If you need any assistance and would like to speak to one of our licensed advisors, give us a call at 1-866-311-4338.

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