Burial Insurance in Memphis TN Definitive Guide

Burial insurance in Memphis TN(final expense life insurance, simplified issue whole life insurance, cremation insurance, funeral insurance etc.) is meant to cover your end of life expenses(specifically burial, cremation and miscellaneous costs like out standing debts etc.) so the burden does not fall on your loved ones.

Choosing the right burial coverage in TN is crucial in ensuring your families well being after you pass away. This article is going to give you everything you need to know to make an informed decision about the right final expense insurance to purchase to protect your family when you die.

Key Takeaways

  • Burial insurance in Memphis TN covers end-of-life costs like burial and cremation, relieving financial burden on loved ones.
  • Final expense life insurance, also known as burial insurance, typically ranges from $5,000 to $30,000 in coverage.
  • Insurance companies evaluate health, age, and lifestyle, often providing same-day approval for healthy applicants without waiting periods.
  • Funeral costs in Memphis average between $6,000 and $8,500, emphasizing the importance of adequate burial insurance coverage.
  • ParamountQuote offers expertise in securing day one burial insurance in Memphis TN, helping families choose the right plans.

Final Expense Life Insurance Explained

Burial insurance, cremation insurance, funeral insurance etc. are just different marketing terms for final expense insurance.

It is a small simplified issue whole life insurance(life insurance with no medical exam and simplified underwriting) with coverage face amounts between $5,000 – $30,000(depending on the insurance company you choose) designed to payout quickly upon receipt of the death certificate so your family can pay for the funeral costs.

These plans have minimal health questions for individuals to apply and in most cases provide same day approval for the plan if you are healthy and answered “no” to all the health questions honestly.

The insurance company looks at your age, health and lifestyle and even with some pre-existing health conditions such as COPD, Diabetes, and Heart Problems you have a high likely hood of getting approved for day one coverage(depending on the insurance company you choose) with no waiting periods.

If you’re health conditions are too severe or you’re medications indicate certain health conditions that are too severe you can still apply for a guaranteed issue whole life final expense plan. This plan does not have any health questions or condition restrictions but it does come with a 2 year waiting period before the policy will pay out to your loved ones.

In the event that you pass away within 2 years of getting a guaranteed issue burial insurance plan in memphis tn your loved ones will receive the previous premiums you paid into the policy leading up to your death plus 10% interest.

This means your family will still get something if all you can qualify for is guaranteed issue however that is why working with an independent broker like Paramount Quote is crucial. Our agents are trained in the underwriting of all the carriers we work with which means we know exactly which carrier could extend day one burial coverage in memphis tn to you.

Burial Insurance in Memphis TN Sample Costs

The average cost for Burial Insurance is going to be between $40 – $80 for coverage amounts between $10,000 – $20,000 for a male & $40 – $70 for a female(females usually get lower rates because statistically they live longer than men). Now rates are determined by age, health, life style, location and gender.

In addition to this the type of plan(level, graded, modified) that you get approved for determines the monthly premium also. Below you will see sample rates on our table of what you could expect to pay monthly for final expense insurance in memphis tn.

Age$10,000 Male Non Smoker$10,000 Male Smoker$10,000 Female Non Smoker$10,000 Female Smoker
19$12.87$16.59$12.03$13.74
20$13.19$17.02$12.13$15.40
21$13.50$17.46$12.74$17.02
22$14.17$18.18$13.06$17.05
23$14.54$18.51$13.77$17.08
24$15.43$19.19$15.16$17.10
25$15.95$20.00$15.28$17.39
26$16.28$20.83$15.40$17.69
27$16.61$21.75$15.51$17.95
28$16.92$22.15$15.61$18.22
29$17.25$22.54$15.73$18.48
30$17.57$23.07$16.09$19.06
31$17.97$23.60$16.45$19.66
32$19.84$24.25$16.79$20.21
33$20.34$25.00$17.12$20.75
34$20.93$25.83$17.45$21.28
35$21.53$26.59$17.99$21.89
36$22.14$27.37$18.54$22.50
37$22.84$28.18$19.06$23.08
38$23.54$29.08$19.55$23.62
39$24.34$29.87$20.05$24.18
40$23.13$30.66$20.70$24.98
41$23.62$31.43$19.75$25.80
42$24.11$32.21$19.93$26.57
43$24.64$32.93$20.10$27.30
44$25.18$33.41$20.38$28.03
45$25.79$34.00$20.88$28.80
46$26.43$34.57$21.43$29.55
47$27.10$35.17$22.01$28.06
48$27.71$35.58$22.33$28.56
49$27.35$38.27$21.78$29.22
50$28.29$39.47$23.56$30.14
51$29.26$40.77$24.48$31.06
52$30.31$42.22$25.09$32.72
53$31.47$43.83$25.62$34.54
54$32.77$45.44$26.26$38.99
55$34.25$48.12$27.11$40.85
56$35.88$52.06$28.20$42.71
57$37.69$54.25$29.51$42.30
58$39.64$56.72$31.70$43.61
59$40.10$55.60$31.00$44.50
60$41.84$56.72$31.70$43.61
61$43.76$59.64$32.87$45.19
62$46.41$63.28$34.51$47.48
63$49.07$67.72$36.06$49.78
64$51.22$69.53$37.72$52.07
65$53.58$72.72$39.36$54.36
66$56.48$76.06$41.01$56.66
67$59.85$80.53$43.44$60.22
68$63.18$84.67$45.86$63.60
69$66.84$89.65$48.29$66.09
70$70.79$94.64$50.81$70.45
71$73.15$98.31$53.24$72.18
72$78.81$103.97$56.20$75.86
73$83.99$109.94$58.46$79.74
74$89.46$116.69$63.55$84.14
75$94.87$123.65$67.78$88.66
76$99.97$132.48$72.41$94.42
77$107.04$141.32$78.25$101.63
78$114.13$150.57$83.51$108.24
79$122.13$161.81$88.44$115.15
80$129.52$171.23$93.41$125.01
81$139.73$181.75$98.43$135.14
82$149.95$192.98$106.21$147.04
83$160.16$204.65$113.96$160.56
84$171.02$219.19$121.31$170.76
85$181.88$237.28$128.55$179.58
86$192.74$257.57$135.90$192.35
87$236.25$337.32$171.33$237.32
88$276.68$353.99$205.98$253.99
89$317.10$370.65$240.63$278.99
90$357.53$378.98$275.28$303.99
Please Note: The rates shown above are strictly for illustrative purposes and represent sample quotes for individuals in standard health. Actual insurance premiums are highly dependent on your exact age, gender, state of residence, tobacco usage, and specific medical underwriting. Because health conditions (such as breathing or cardiac history) may require a specialized carrier to secure approval, your personalized quote may vary from this chart. Rates and carrier availability are subject to change. Always speak directly with a licensed independent broker to shop the market and secure the absolute lowest rate for your unique situation.

Funeral Costs in Memphis TN

The cost for planning a funeral in Shelby County can be confusing especially in a time of grieving. You do not want to be caught off guard with this, Tennessee’s state average for a traditional burial is near $6,800 while in the metropolitan area it is near $7,000 – $8,500(full service funeral with cemetery fees included) So lets break it down.

  • Traditional Funeral & Burial ($6,000 – $8,500): This Includes basic director overhead, visitation, hearse, embalming and a standard casket.
  • Cremation & Memorial Service ($3,500 – $5,800): Full cremation process with a formal chapel or gathering service.
  • Direct Cremation ($1,295 – $2,000): Most affordable, just a simple cremation with no viewing or ceremonies.

Local Cemetery Fees Be Careful!

Funeral Directors almost always never mention the grave & burial plot opening fees. A well known Memphis cemetery(Elmwood Cemetery) has standard casket plots ranging between $1,500 – $7,000 not including their $1,300 fee for interment(digging).

Memorial Park Funeral Home mentions that while basic direct dispositions start lower, a traditional adult full service funeral can average close to $5,000 and that is before purchasing the vault or plot!

This is why we recommend at least a $10,000 whole life plan to account for the unexpected fees that come up and they do!

Underwriting & Eligibility Tool

As we mentioned before life insurance companies offering burial insurance in Memphis TN look at your age, health, lifestyle, gender & tobacco usage to determine eligibility and rate. Below is our free tool you can use to search your specific health conditions to get an idea if your potential eligibility for our top tier carriers offering day one coverage.

Health ConditionDay One EligibilityBest Plan Option
ADL’s(Assistance of Daily Living Eating, Dressing, Toileting, Bathing)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
AIDS & HIVGuaranteed Issue Guaranteed Issue Plans(No Health Questions)
ALSModified Options ProbableGraded or Modified Broker Options
Alcohol AbuseExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Alzheimers & DementiaGuaranteed IssueGuaranteed Issue Plans(No Health Questions)
Amputation Caused by Accident (No ADLS Needed)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Amputation Caused by Accident(ADL’s Needed)Modified Options ProbableGraded or Modified Broker Options
Amputation Caused by Diabetes or Disease(No ADL’s Needed)Guaranteed IssueGuaranteed Issue Plans(No Health Questions)
Amputation Caused by Diabetes or Disease(ADL’s Needed)Guaranteed IssueGuaranteed Issue Plans(No Health Questions)
AneurysmExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
AnginaExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
AngioplastyExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Assisted Living FacilityExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
AsthmaExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
AFIB (Atrial Fibrillation)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Brain Tumer(Non Cancerous)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Bipolar DisorderExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Brain Tumor(Cancerous)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Bronchitis (Chronic)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Cancer-Must have occured and been cured over 2 yeas ago with no further complications or medicationsExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Coronary Bypass SurgeryExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
CardiomyopathyExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Cerebral PalsyExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
COPD Chronic Obstructive Pulmonary DiseaseExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Circulatory SurgeryExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
CirrhosisExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Congestive Heart FailureExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Cystic FibrosisExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
DefibrillatorExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
DepressionExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Diabetes(Without Complications)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Diabetes(With Complications)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
DialysisGuaranteed IssueGuaranteed Issue Plans(No Health Questions)
Down SyndromeExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Drug & Alcohol AbuseExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
EmphysemaExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Heart AttackExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Heart DiseaseExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Obesity & Under WeightExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Hepatitis CExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Hospitlization(Current)Guaranteed IssueGuaranteed Issue Plans(No Health Questions)
Huntington’s DiseaseExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Kidney Disease Stage 1 – 3Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Kidney Disease Stage 4 – 5Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Lupus (Systemic)Excellent Chance
(Immediate)
Top Tier Independent Broker Plans
Multiple SclerosisExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Muscular DystrophyExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Organ TransplantModified Options ProbableGraded or Modified Broker Options
Oxygen TanksGuaranteed IssueGuaranteed Issue Plans(No Health Questions)
Oxygen ConcentratorExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Pacemaker ImplantExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
PancreatitisExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Parkinson’s DiseaseExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Pending SurgeryGuaranteed IssueGuaranteed Issue Plans(No Health Questions)
SchizophreniaExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
SclerodermaExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
SeizuresExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Sickle Cell AnemiaExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Sleep ApneaExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
StrokeExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
StentExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
TIA Mini StrokeExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Tumor CancerousGuaranteed IssueGuaranteed Issue Plans(No Health Questions)
Tumor Non-CancerousExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Ulcerative ColitisExcellent Chance
(Immediate)
Top Tier Independent Broker Plans
Eligibility details shown above represent generalized carrier underwriting guidelines for educational purposes. Actual approval for immediate day-one coverage is subject to individual medical underwriting, prescription history checks, and final carrier approval. Call us directly to verify your specific eligibility.

Best Final Expense Companies in Memphis TN

We work with the best burial insurance companies in TN to ensure you have the best most affordable options. Below you will see a list of all our top carriers we work with in Memphis.

Mutual of Omaha

Mutual of Omaha burial insurance is one of the most affordable options for seniors in memphis TN. They also do have more strict underwriting which means they want applicants in decent health to insure. Their Living Promise Final Expense plan is perfect for covering funerals.

Mutual of Omaha Life Insurance, Burial Insurance, Final Expense InsuranceAge EligibilityPolicy Brochure

★★★★★

45-85Brochure
Policy Features & BenefitsType of Policy: Whole Life(Lifetime Coverage)Waiting Period: Graded Plan(yes) Level Plan(no)
Death Benefit Amounts: $2,000-$40,000Level Death Benefit(Death Benefit Never Decreases)
Available States: All Except NYLevel Premiums(Premiums Never Increase)
Cash Value Builds in PolicyNo Medical Exams Required
Accelerated Death Benefit RiderAllows the insured to access a portion of the policy’s death benefit while alive for various needs such as medical bills, living expenses, and funeral expenses.
EligibilityApplicable when the insured is diagnosed with a terminal illness (12 months to live) or has been confined to a nursing home for more than 90 days without the expectation of leaving.
InclusionAutomatically included in the policy at no extra cost.
Accidental Death Benefit RiderProvides an extra death benefit equal to the policy’s death benefit in case of death resulting from an accident.
InclusionRequires an additional charge to be added to the policy.

Transamerica

They are also very competitive on pricing and they do not have height and weight requirements. This means if you were turned down in the past due to height and weight your chances of approval with them are much higher!

Transamerica, life insurance, burial insurance, final expense insuranceAge EligibilityPolicy Brochure

★★★★★

45-85Brochure
Policy Features & BenefitsType of Policy: Whole Life(Lifetime Coverage)Waiting Period: Graded Plan(yes) Preferred & Standard Plans(no)
Available States: All StatesLevel Premiums(Premiums Never Increase)
Cash Value Builds in PolicyNo Medical Exams Required
Death Benefit Amounts: $2,000-$50,000Level Death Benefit(Death Benefit Never Decreases)
Accelerated Death Benefit Rider & Nursing Home ConfinementPays the full death benefit if the insured experiences a terminal illness or is confined to a nursing home.
Accidental Death Benefit RiderPays an additional coverage amount equal to the face amount for ages 18-70 in the event of death due to an accident. The policy payout doubles, e.g., a $15,000 policy becomes a $30,000 payout to the beneficiary.
Children & Grandchildren Benefit RiderOffers coverage between $1,000 – $5,000 for children aged 15 days – 18 years, with a maximum of 9 children covered. The coverage can be converted when the child becomes an adult.

American Amicable

American Amicable is perfect for tobacco users because they have lower tobacco rates. Most insurance companies raise premiums much higher if you smoke. American Amicables burial plan offers the lowest tobacco rates we have seen in the industry so far!

American Amicable, life insurance, burial insurance, final expense insuranceAge EligibilityPolicy Brochure

★ ★ ★ ★ ★

50-85Brochure
Policy Features & BenefitsType of Policy: Whole Life(Lifetime Coverage)Waiting Period: Immediate Benefit Plan(No)
Graded & ROP Plans(Yes)
Available States: All Except NYLevel Premiums(Premiums Never Increase)
Cash Value Builds in PolicyNo Medical Exams Required
Death Benefit Amounts: $2,000-$50,000Level Death Benefit(Death Benefit Never Decreases)
Terminal Ilness Accelerated Death Benefit RiderAllows the insured diagnosed with a terminal illness to use the entire policy death benefit (100%) for any purpose. If you have a $10,000 policy and are diagnosed with a terminal illness, you can access the full $10,000 for various needs.
Accelerated Death Benefit Rider Confined CareProvides 5% of the death benefit in monthly payments if the insured is confined to a nursing home 30 days after the policy starts. Can be used for monthly bills or other smaller expenses.
Grandchild RiderOffers $5,000 life insurance coverage per unit for a grandchild or great grandchild, with a maximum of 2 units totaling $10,000 in coverage. Costs an additional $1.00 on the monthly policy premium per unit for each grandchild.
Children’s Insurance AgreementProvides up to $6,000 in coverage for each child below age 25. Can be converted to a whole life or endowment policy when the child is over 25. Allows coverage up to 5 times the coverage amount, totaling $30,000, without demonstrating insurability.
Nursing Home Waiver of Premium RiderWaives premium payments on the policy if the insured is confined to a nursing home for over 90 days, making the insurance essentially free.
Accidental Death Benefit RiderDoubles the death benefit payout if the insured or loved one dies from an accident, with no additional cost to be added.

Royal Neighbors of America

Royal Neighbors burial coverage also has no height or weight charts. They are also very friendly towards individuals with lung issues.

Guarantee Trust Life

Guarantee Trust Life final expense is easy to qualify for because they only ask 5 health questions however their product is a graded product. This graded plan pays out 50% of the policy face amount if the insured dies after 1 year of paying premiums. The plan pays out 100% after the 2nd year of paying premiums. It is superior to a full 2 year waiting period plan.

Guarantee Trust Life Insurance Company, Life Insurance, Burial Insurance, Final Expense InsuranceAge EligibilityPolicy Brochure

★★★★★

50-90Brochure
Policy Features & BenefitsType of Policy: Whole Life(Lifetime Coverage)Waiting Period:
Year 1: ROP+5% Interest
Year 2: 50% of Death Benefit Paid
Year 3: 100% Death Benefit Paid
Available States: All Except NYLevel Premiums(Premiums Never Increase)
Cash Value Builds in PolicyNo Medical Exams Required
Death Benefit Amounts: $2,500-$20,000Level Death Benefit(Death Benefit Never Decreases)

Gerber Life

Gerber Life final expense coverage has the cheapest rates we have seen compared to all other Guaranteed Issue plans. This plan does have a full 2 year waiting period. This is a last resort but the affordability is where this plan really shines.

Gerber life insurance, burial insurance, final expense insurance, guaranteed issue life insuranceAge EligibilityPolicy Brochure

★★★★★

50-80Brochure
Policy Features & BenefitsType of Policy: Whole Life(Lifetime Coverage)Waiting Period: Full 2 Year Waiting Period
Death Within 2 Years is ROP + 10% Interest
Accidental Death Within Waiting Period is Full Policy Payout
Available States: All StatesLevel Premiums(Premiums Never Increase)
Cash Value Builds in PolicyNo Medical Exams Required
Death Benefit Amounts: $5.000-$25,000Level Death Benefit(Death Benefit Never Decreases)

10 Day Free Look Period

In the state of TN there is a 10 day free look period upon receipt of your policy. This means if you decide you do not want to continue the coverage you can cancel it within 10 days receiving a full refund of your premium. There are no strings attached and final expense life insurance is a month to month plan with no contracts.

This means you are not locked into anything if you decide you cannot afford or want the policy anymore.

2 Year Contestability Clause

Every final expense whole life insurance policy has a mandatory two year contestability clause. If you pass away within the first 2 years of having your policy active the insurance company has the legal right to order your medical records & investigate the original application.

This is to make sure you did not lie or misrepresent anything on your application concerning a serious health condition to get approval.

Honesty is the best policy here, as long as you are honest on your application your family is safe and the policy will pay out. This is why we never use any high pressure sales tactics.

Our agents spend the time to look at your health thoroughly to ensure your application is flaw less so there are no surprises to your family on the backend.

Secure Burial Insurance in Memphis TN With Us

We are an independent life insurance broker which means we have several major companies that fit your needs. ParamountQuote is highly trained on understanding the underwriting of these companies. This means your chances of obtaining day one affordable coverage skyrocket when working with us!

We have 10 years of experience along with our high customer satisfaction ratings. Work with us to secure your coverage today!