Educational guide — not insurance advice. We’re not a licensed agent. Ratings and rankings change. Always verify current data and confirm details with the insurer or a licensed broker in your state before buying.
[Some links on this page are affiliate links, disclosed at the bottom.]
What “best” actually means
There’s no single “best” final expense insurance company. The right answer for any specific person depends on age, health, state, and what they care about most.
But there are objective criteria that the better carriers consistently outperform on. The ones we look at:
- Financial strength rating (AM Best). The insurer needs to still be in business decades from now. A+ or better is what you want.
- NAIC complaint index. The National Association of Insurance Commissioners tracks complaints per policy in force. A complaint index of 1.0 is the industry average — anything significantly below is good; significantly above is a red flag.
- J.D. Power customer satisfaction. Their annual rankings for senior life insurance separate the comfortable buying experiences from the painful ones.
- Underwriting flexibility. Some carriers accept applicants other carriers reject for the same health conditions.
- Pricing competitiveness at your age and health tier. This varies enormously between carriers — the same coverage can cost 30%+ more or less between two A-rated carriers.
- Reputation for paying claims without unnecessary delay.
- Transparency about waiting periods and graded benefits.
A carrier can be excellent on financial strength and complaint index but still be the wrong fit for you if their pricing isn’t competitive in your age tier or they don’t cover your specific health condition without a waiting period.
The carriers that consistently rate well
These are the carriers we’d suggest comparing first, based on the rating criteria above. We’re not paid to recommend any of these.
Mutual of Omaha
The most consistently highly-rated final expense carrier in the US market. Key reasons it stands out:
- AM Best: A+ (Superior) financial strength rating
- NAIC complaint index: ~0.51 (significantly below the 1.0 average)
- J.D. Power rankings: top-tier in senior life insurance categories in recent years
- Wide age availability (typically 45–85)
- No-medical-exam options across multiple coverage tiers (level, graded, guaranteed-issue)
- Reasonable pricing across age brackets
Mutual of Omaha is a mutual insurance company (owned by policyholders rather than shareholders), which often correlates with patient claim-handling. If you’re starting to compare and don’t know where to begin, get a Mutual of Omaha quote as one of your baseline comparisons.
AARP / New York Life
Final expense and term life insurance under the AARP brand is underwritten by New York Life. Key advantages:
- AM Best: A++ (the highest possible)
- Strong AARP-member customer satisfaction
- Streamlined application process
- Group-rate-style pricing that’s often competitive at older ages
- Strong reputation for paying claims promptly
Requires AARP membership (about $20/year), which is worth it if you’re 50+ and would use any of the other AARP benefits. The trade-off is less underwriting flexibility — applicants with significant health issues sometimes do better with carriers that specialize in graded or guaranteed-issue policies.
Aetna (Accendo Insurance)
Final expense policies under the Aetna brand are underwritten by Accendo Insurance Company, a CVS Health subsidiary.
- AM Best: A (Excellent)
- Low NAIC complaint index in recent years
- Strong on immediate-coverage policies — competitive pricing for level (no waiting period) policies for healthier applicants
- Underwriting is relatively flexible for chronic conditions that are well-managed
A strong choice for healthier applicants in their 50s and 60s who want level coverage without a waiting period.
Transamerica
Long-standing major US insurer with a substantial final expense business.
- AM Best: A (Excellent)
- Wide range of coverage amounts ($1,000 to $50,000+)
- Available for older applicants (up to 85 in many products)
- Reasonable pricing across the spectrum, including for smokers and graded-tier applicants
Often a good comparison quote when other carriers’ pricing is uncompetitive in your specific age bracket.
Royal Neighbors of America
A fraternal benefit society (member-owned) rather than a traditional insurance company, which often correlates with policyholder-friendly practices.
- AM Best: A- (Excellent)
- Notable for member benefits beyond the policy (scholarships, community grants, advocacy resources)
- Generally favorable claim-handling reputation
- Available in most US states
Less well-known to the general public than the major commercial carriers, but consistently rates well for the people who use them.
Gerber Life
Best known for “Grow Up Plans” for children, but Gerber Life also offers final expense / burial insurance.
- AM Best: A (Excellent)
- Guaranteed-issue product available for ages 50–80 with no health questions
- Standard 2-year waiting period on guaranteed-issue policies
- Brand recognition can be a positive factor for some buyers
Solid choice for someone who needs guaranteed-issue coverage and values brand familiarity.
Carriers to compare carefully
These carriers offer final expense policies and aren’t disreputable — but they don’t consistently rate as highly as the ones above, and we’d suggest comparing them against the top tier before committing.
Globe Life
Available in all 50 states with widely-marketed direct-to-consumer products. AM Best A+ financial strength. The criticism in the industry has historically been around customer service and complaint handling — Globe’s NAIC complaint index has run higher than peer averages in some years. Compare their quote against Mutual of Omaha or Aetna for the same coverage before committing.
Colonial Penn
Heavily marketed direct-to-consumer (the “$9.95 a unit” advertising). The structure is fine — Colonial Penn is a legitimate insurer with reasonable financial ratings — but the “per unit” pricing makes it hard to compare apples-to-apples with policies priced in dollars per month for a specific coverage amount. Pricing tends to be less competitive than top-tier carriers once you do the conversion. Get a comparison quote.
Lincoln Heritage
Specializes in final expense and is widely advertised. Financial strength is solid. The historical criticism is around agent sales practices — high-pressure tactics and steering toward more expensive guaranteed-issue products even for applicants who qualify for level coverage. If you go this route, be specifically careful about whether you’re being offered level or guaranteed-issue, and verify your eligibility for the better tier yourself.
Americo, American Amicable, Corebridge Direct (formerly AIG Direct)
All have legitimate final expense products and reasonable financial ratings. Pricing competitiveness varies a lot by age and health tier. Worth getting quotes if the top-tier carriers come back uncompetitive for your specific situation, but probably not your first stop.
How to compare quotes apples-to-apples
A few things that need to match across the quotes you’re comparing:
1. Same coverage amount
A $10,000 quote isn’t comparable to a $15,000 quote. Pick a target coverage amount (we suggest $10,000 if you’d be cremated, $15,000–$20,000 for a traditional burial) and ask every carrier to quote that exact amount.
2. Same policy type
A level (no waiting period) quote isn’t comparable to a guaranteed-issue (2-year waiting period) quote. Always ask: “Is this level, graded, or guaranteed-issue?” If you’d qualify for level with one carrier, get a level quote from every carrier — don’t accept a guaranteed-issue quote where level is available.
For more on what the different policy types mean, see our Waiting Periods, Explained Honestly guide.
3. Same payment frequency
Annual premiums are usually slightly lower than monthly premiums multiplied by 12 (carriers often charge a small “fractional premium” for monthly billing). Compare the same payment frequency across carriers.
4. Confirm what’s included
Some policies bundle small “extras” — accidental death riders, return-of-premium options, terminal illness riders. These can be worth a few dollars a month or not. Note what’s included so you’re not comparing a bare-bones quote to one with riders.
A simple decision sequence
- Get quotes from at least three of the top-tier carriers above (Mutual of Omaha, AARP/NY Life, Aetna, Transamerica, or Royal Neighbors).
- Match the policy type to your health. If you can qualify for level (no waiting period), don’t accept guaranteed-issue. If your health rules out level, graded is the next-best option.
- Read the policy contract before signing. The waiting period (or lack of one) is in the contract itself.
- Be honest on the application. Misrepresentation is the most common reason claims get reduced later.
- Be wary of pressure. A reputable final expense policy is never a now-or-never offer. If you’re being pushed to sign today, walk away.
For more on protecting yourself during the buying process, see our How to Spot a Bad Final Expense Agent guide.
A note on financial strength
The AM Best rating matters more for permanent insurance (which final expense is) than for term insurance, because you’re potentially relying on the insurer to be around 20–40 years from now. All the carriers in the “consistently rate well” section above carry A or A+ ratings, meaning AM Best considers them able to meet their long-term obligations.
State insurance regulators also maintain guaranty associations that protect policyholders up to certain limits if an insurer fails — typically $300,000 for life insurance death benefits, well above the typical final expense policy amount. So even in the rare scenario where a carrier fails, your final expense coverage is almost certainly protected.
Where to compare
A few honest places to get comparison quotes:
- Independent insurance comparison sites — Policygenius, NerdWallet, and ChoiceMutual all let you compare multiple carriers without committing to one.
- Independent local agents — an agent who represents multiple carriers can often pull the most competitive quote across their roster for your specific situation.
- Direct from the carriers — most of the top-tier carriers will quote you directly, online or by phone.
We don’t recommend buying from a captive agent who represents only one carrier — by definition they can only quote you that one company, which is usually not the most competitive option.
[Compare final expense options from licensed providers →]
Related reading
- Do You Actually Need Final Expense Insurance?
- How Much Does Final Expense Insurance Cost?
- Waiting Periods, Explained Honestly
- How to Spot a Bad Final Expense Agent
- How Much Does a Funeral Cost?
Educational information only — not insurance, financial, or legal advice. We are not a licensed insurance agent or broker. Ratings, rankings, and pricing change; always verify current data with the carrier or a licensed broker in your state. Some links on this page are affiliate links — if you use them and purchase a policy we may earn a commission at no additional cost to you. This does not change what we tell you about any product. Sources: A.M. Best Financial Strength Ratings; NAIC Consumer Information Source; J.D. Power U.S. Individual Life Insurance Study; state Departments of Insurance.