Best Cremation Insurance Policy In 2023 [Quick Purchase]

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  • Post last modified:March 12, 2023

Planning for the future is vital, but planning for the most uncertain event is far more important than planning for a better future. When we say, uncertain events, we mean the most difficult and inevitable event: Death.

Here, we will guide you to find the best cremation insurance which is cheaper compared to traditional burial insurance.

How is The Cremation Ceremony Performed?

Before the cremation process begins, you must complete all the required legal documentation. After completing the paperwork, a loved one takes the deceased’s body to the cremation center for the cremation process.

The process starts by setting aside all medical devices (if present) and anything that has a metallic substance.

The next step is moving the body to the cremation chamber, where the actual process begins. The wooden box burns along with the body.

This process may take up to 2 to 3 hours. The ashes are allowed to cool down. The body of the dead person, which is now in the form of powder, is collected into a jar or container before it reaches the family.

Then the family of the deceased arranges a memorial where all of the close family and friends of the departed soul get an invitation.

The other proceedings depend on the will of the deceased person or the family member of the departed person if there is no will regarding funeral service.

After the memorial, everyone chooses a different way to pay tribute to the ashes of their departed loved one.

Costs of Cremation

cost of cremationAs old school and traditional burial techniques are dying, cremation is one of the popular choices for most people these days. The major reason behind this is the low cost.

Burial process may cost you around $10,000 or above, but a cremation process only costs you around $3,000.

However, spending about $3,000 on cremation may seem a huge amount for most middle-class and lower-middle-class families. That said, you will never have to worry about this cost if you buy cremation insurance.

This insurance will ease your journey for the hereafter. It will let you have peace of mind because your one mature and prudent decision will save your family from the financial problems that they may have to face due to poor planning on your part.

What is Cremation Insurance?

Cremation insurance is similar to life insurance, except for the fact that it is the money that you are saving for your funeral or memorial service.

The main purpose of this amount is to cover the cost of all your last rites rather than paying off your family’s long-term expenses.

Many funeral homes, crematories, and insurance companies offer this insurance. You get your policy proceeds as soon as the news of your departure from this world is confirmed.

The good thing about this policy is that if the funeral costs are less than the insurance money, the beneficiary can claim that extra money.

However, if the cost exceeds, the remaining amount has to be paid by the family members. Let’s have a look at how cremation insurance policies work.

Cremation Insurance – What To Expect And Do?

Cremation insurance is a type of permanent life insurance. The monthly amount that you will pay to the cremation insurance company will be accumulated over time to pay for your last rites.

The question is how you will get that money and how you will make sure that the money you saved only goes towards your cremation.

Legal Beneficiary

There are a few simple things that you can do to make sure that your money is safe and spent only for your cremation after your death.

Legally the beneficiary isn’t required to pay the insurance money for your funeral, but the steps will make sure that only you use that money.

The policyholder will name the most trusted person as the beneficiary for the insurance claim.

If no one is trustworthy, then the funeral home becomes the primary beneficiary for the collection of the insurance amount. This insurance amount would directly go to the funeral home in this case.

However, the policyholder must take approval from the funeral home before nominating them as a beneficiary.

There are Small Installments

One good thing about this insurance policy is that you don’t have to pay huge sums of money to the insurance company. All the monthly installments are very affordable and a good way of saving too.

The procedure is simple, and you get the insurance after answering only a few questions. Another important thing about a cremation policy is that it will only be effective until you are paying the monthly amount regularly.

Otherwise, it gets canceled.

After knowing what insurance has in store for you in terms of benefits, you will find it beneficial to get the best cremation insurance.

Advantages of Cremation Insurance

It is Affordable

The first and foremost advantage of getting cremation life insurance is that it is affordable in the long run.

Your family won’t have to worry about taking out immediate finances to fulfill your last rites. They will get the insurance money soon after the news of your death.

Plan Your Own Funeral

Another main benefit that cremation policy offers is that it lets you personalize your death too. It helps you face the fact of your death gracefully. It gives you the right to decide the way your loved ones and family members will remember you.

While getting the policy, you have the right to tell your family members about the services you want at your funeral through your will.

The instructions that you will leave behind to the beneficiary in the legal document will keep you satisfied that your funeral takes place the way you want.

Remove Financial Burden

When you are departing from this world, it would be the most difficult time for the people you are close to. At this time, all they need is to mourn you.

If you are insured, you will save them from many hassles, like arranging funds for your last rites. Your insurance money can let them mourn you in peace without any financial stress.

Your insurance will also save your family from the regrets that they may have if they are unable to give you the funeral that they wanted to give you or you wanted.

Help Planning

When you plan for your wedding or any other important occasion, you need time. Likewise, planning for your funeral is also very important. Cremation insurance will give you that time.

It will allow you to make those decisions by yourself that your family or your loved ones have to take on your behalf.

Sometimes in these desperate times, many wrong decisions are made due to which your family may suffer in the future.

You Have Cash

In times of need, you need cash handy. If you aren’t insured yet, do you have any idea about how your will family members will arrange the amount to pay for your last rites?

Although they would try to pay tribute to you, still funeral requires plenty of money. Your family would need at least $1000 to $3000 for cremation only. And to be honest; this is not a small amount to take out at once.

So, cremation would make sure that all the money they would need for your final rites will be in their hands as soon as they need it, which is very convenient.

Given all the benefits, you may be making up your mind to get cremation insurance, or you may have already done it.

However, there might be a few questions that would be popping into your mind. Don’t worry anymore.

Below we will discuss some frequently asked questions about cremation policy to ease your mind. We hope this will help you make a smart decision that is good for you and your family too.

Cremation Insurance – Answers to FAQs

How Much Does Cremation Cost vs Burial?

The first question that you will have in your mind would be what amount you will need to get cremation or burial insurance. Well, the answer to this question is very simple.

The amount of money will depend on the type of cremation service you want, including other last services.

Commonly the cremation policy varies from $1100 to $8000. Some people invest in simple services and do not get too fancy, while other people need extravagant services. On the other hand, the burial service starts at $5000.

The easiest way to get an estimate of your cremation and other services costs is to do some planning. Pre-planning would give you some idea of how much you will need and how much you should invest.

Can I Invest More Money than Needed for Cremation?

The higher the amount you will invest, the more you will get.

As the remaining amount after the funeral goes to the beneficiary, you can add a clause that all your remaining bills, rent, and credit card debt, etc. must be paid from the remaining money.

What is the Cost of Cremation Insurance?

This would be the next question on your list. Well, it varies for many reasons; for example, it is different depending on your age, your health, your requested coverage, and the kind of insurance policy that you have chosen, etc.

The cost would be higher in the case of a guaranteed policy because it doesn’t take health into account.

However, the price of a medically underwritten policy depends on individual situations.

Get multiple quotes to get a clear answer to this question because every company or organization has different rules. Quotes will tell you whether a cremation insurance policy is affordable for you or not.

How to Save on Cremation Insurance?

save on your policyAfter getting information about how much you should invest, you will start thinking about saving money for your cremation insurance.

A question that would pop in your mind would be how you can save money on cremation insurance, and that is a valid question.

However, keep in mind that getting insurance is not similar to buying something on a discount or a deal.

You can save money by deciding the type of policy you would want to have. For example, lowering premiums, scaling back services, etc. are some ways to save money.

Once again we’ll tell you to choose your insurance plan wisely so that you save the money during your life and you will have it when it is needed.

However, only an agent can give you a clear understanding of which policy is good for you and which is not. It is better to talk to them before reaching a decision.

You must request a quote before going to the agent. With the help of the quote, the agent will tell you about the best insurance plan at the best price.

You should consider and prefer going to an independent agent (who works for various companies) rather than an exclusive agent because an independent agent will have a variety of options for you from different firms, unlike an exclusive agent.

You can contact us anytime for help. We will be pleased to do so.

Do I Need a Funeral Insurance If I Have Life Insurance Already?

Life insurance and cremation insurance may seem similar, but they are poles apart.

Cremation insurance can become a supplement to your life insurance policy.

Cremation insurance gives you the money faster than life insurance, and life insurance is all about covering your family’s expenses after you leave this world while a cremation insurance policy helps cover the cost of your last rites.

In many countries, like the USA and Canada, health insurance and Medicare is very important, and almost every resident has health insurance.

Many people confuse health insurance and Medicare with cremation insurance.

However, both of them are different.

Does Health Insurance or Medicare Cover Funeral Expenses?

It is very common for people to assume that if they have health insurance and Medicare, then all their cremation costs will be covered too.

Health insurance only covers your hospital bills and medical expenses, but it doesn’t cover your funeral and other services costs.

If you want to ensure your death too, then cremation insurance will be the best option for you.

How Should I Choose a Suitable Cremation Insurer?

Choosing a top-notch and well-reputed insurance company is vital; otherwise, who knows, you may end up empty-handed.

Before opting for a company, first, do an independent analysis of a few companies.

For example, consider their stability and how they will provide you with the money. Once there is a list of shortlisted companies in front of you, then you will have to request for their quotes.

Choosing an affordable insurance policy is a huge decision to make. Don’t worry; this article is all about making your life easier. As for now, you’ve understood how important it is to have cremation insurance. Cremation and funeral plans are not too different.

We have already discussed what financial problems your family would have to go through in the event of your death if you don’t get insurance.

Now we will explain how you can make these insurance policies affordable for yourself.

Different Companies with Cremation Insurance

Before opting for a company, go through multiple quotes as there are hundreds of companies out there.

However, the main question is, who can tell which one is the best?

Here we will recommend the names of a few top-notch insurance companies to choose from with all the descriptions, so you may know what choices you have. Also, all the companies named below are very affordable.

1. AARP (American Associate for Retired Persons)

AARP is an interest-based organization. Although this is not an insurance company, it does provide individuals with the best cremation insurance in partnership with New York Life. It is unlikely that AARP will turn you down if you match their eligibility criteria.

This company also doesn’t require any health tests or medical exams. All you need to have to become a member of the AARP community is to be between 50 and 90 years old. Spouses of members have to be between 45 and 80 years old to apply for a cremation policy.

The company gives you coverage of around $25000 and guaranteed premium rates. Due to these premium rates, your monthly installment will never increase. When you reach the age of 95, AARP won’t accept your monthly payment.

However, your money will remain safe with the company till the day your beneficiary requests the money.

2. Courtesy of Globe Life

There is a fair and straightforward rule about premiums in the insurance industry. As the days pass and you get older your premium increase dramatically.

However, if you don’t have much money to pay insurance premiums, Courtesy of Globe life is there to adjust premiums and plans according to your needs.

Surprisingly, your first premium is only $1. Isn’t that great! In the next month, the monthly premium is as low as $3.49. They don’t just give you the lowest premium plans but also pay a reasonable amount. The payback ranges from $5,000 to $500,000.

You won’t have to suffer any waiting period because Courtesy of Globe Life exempts you from medical tests and gets your payback directly.

If you are satisfied and happy with the services provided by Courtesy of Globe Life, they will offer you cremation and last rite coverage for your spouse too as a bonus.

3. Courtesy of Mutual of Omaha

Not everyone wants a grand funeral. If you are someone who wants only your closest people on your funeral, then our advice would be to go for companies that offer smaller plans.

You won’t need $50,000 for your last rites if you are planning a small funeral. Courtesy of Mutual of Omaha gives you the best policies for a small cremation.

Their insurance policies are very affordable, and they provide coverage from $5,000 to $25,000. You can also increase the amount by talking to a representative Courtesy of Mutual of Omaha. To be eligible for this guaranteed whole life policy, you must be between 45 and 85 years old.

However, if you are a New Yorker, then the age limit is from 50 to 75 years old. If you plan your insurance with them, you will be on hold for two years.

If you pass away during these two years, then the beneficiary will get the amount that you would have paid till date with an increment of 10%.

But, if you depart from this world after the two years of the waiting period, then the beneficiary will get the full amount of the policy that you would have chosen.

4. Courtesy of Colonial Penn

Courtesy of Colonial Penn has different options for people, unlike other insurance companies in the industry. Other insurance companies have age limits that you have to satisfy to be eligible for cremation insurance.

But, Courtesy of Colonial Penn doesn’t have any age limit, and almost anyone can apply for an insurance policy through them.

In most states, Colonial Penn allows individuals aged 50 to 85 to get guaranteed cremation insurance and life insurance, which is whole life insurance and is permanent, without any medical exam or health-related questions.

Another permanent whole life insurance that the company offers has coverage of up to $50,000 for people between 40 and 75 years old. This policy also doesn’t require any medical examination and to top it all off this policy has a greater cash value.

Renewable term life insurance is another policy by Courtesy of Colonial Penn, which is there for young adults around 18 years old and people around 75 years of age. It gives coverage of $50,000 in term life protection. You can renew this policy until you are 90.

5. Asurity Life

Apart from being a great insurance company in New York City, Assurity offers cremation coverage from $5,000 to up to $50,000. There is no age limit, which is great. You can sign up from birth to 80 years of age.

However, keep in mind that Assurity has some ground rules for a few health-related problems, which make it different from other companies in the industry.

If someone has a major, life-threatening disease, like COPD, heart failure, kidney dialysis or stone, and stroke, etc., and approaches Assurity for cremation insurance, then they offer them partial coverage only.

Assurity offers competitive premium offers to people whose habits may decrease their life expectancies, like tobacco users or alcoholics, or drug addicts.

It gives you simplified whole life insurance and offers you a choice as well to opt for your death benefit. However, the benefit option that you choose may affect the premiums and the duration of the waiting period.

6. Courtesy of Transamerica

Young people may not even think about death in the first place, but even if they do, they have plenty of time and no immediate death worries before the waiting period of their cremation insurance.

However, some people are older, and some are suffering from diseases that may take their life before their waiting period is over.

Due to this reason, many people avoid this plan. This is because they think that if they die before the waiting period ends, then all their money goes down the drain.

If you are one of those people, then we think avoiding cremation insurance is not a good idea. Instead, getting cremation insurance through Transamerica is a wiser decision.

This insurance company doesn’t have any waiting period at all. The minimum age to apply for an insurance policy is 45, and the maximum age is 85. You can get coverage of up to $5,500, depending on your age with Transamerica.

With cremation coverage, you can also avail of other benefits. It can vary from accidental deaths to providing level term coverage for up to nine individuals, including children and grandchildren.


No one knows about the future, and that is the reason why we have advised you to get a cremation policy before it is too late.

As we hear all the time it’s your life, and you must make all the decisions, then why leave your last decisions for your loved ones. It will be a tough decision for them to make.

They will not only be overwhelmed emotionally, but they will have to take care of the financial burden as well if you don’t reach any decision about your cremation insurance.

And to be honest, you will never want that. We know that discussing the plans for after your death is scary and confusing, but it’s better to be safe than sorry.

As we said in the first paragraph, let your loved ones mourn you with dignity. Make your departure easier for them.

In the end, all we would like to say is that we hope this detailed article was helpful for you, and it may have inspired you to take some firm and wise decisions.

Linda Chavez

I'm a burial & senior life insurance expert, independent agent, Founder & CEO of Seniors Life Insurance Finder. I have been working in this sector since 2004 and established my own company in 2014. I have a team of seven members, and we are trying hard to share the knowledge we've gathered. We know how difficult often it is to find an affordable policy. Hence, we are doing our best to help you.