Funeral & Final Expense Insurance in Maryland for 2024

Looking for funeral insurance in Maryland? For the state where the national anthem was written, there are plenty of funeral insurance options in the state of Maryland.

According to https://aging.maryland.gov/

Of the 5.8 million people in Maryland, 18.35% were age 60 or older. That was back in 2015!

With funeral services being the last big expense anyone leaves behind for their family to take care of it is important to secure funeral insurance with the right death benefit so your family can use the money to pay the funeral director when he says “I’m sorry for your loss, now how do you want to pay for this?”

This is where final expense insurance comes in it provides the burial assistance your family will need when your time comes.

In this guide, we will cover the most important information you need to know when securing burial or funeral insurance to protect your loved ones from this financial burden.

Related: Burial Insurance USA

Understanding Burial Insurance in Maryland

Burial Insurance(final expense life insurance, funeral insurance, cremation insurance etc.) is a simplified or guaranteed issue whole life insurance policy. Final expense life insurance covers burial, funeral, credit card debt and other end of life expenses when the insured dies.

There are coverage amounts up to $50,000 to take care of final expenses.

Anyone between the ages of 19 – 90 years old can get final expense insurance depending on the company they apply with. There is affordable burial insurance for seniors and young adults. Now keep in mind that funeral insurance does not require a medical exam due to simplified underwriting.

People buy final expense coverage for themselves or their family to protect their families from funeral costs. According to the NFDA a funeral costs $7.848 and a cremation being $6,970, coming up with this kind of money for a funeral unexpectedly is difficult for most families.

Burial insurance with a quick lump sum payout of $10,000, $15,000, $20,000, $25,000 or more solves this problem.

Cost of Final Expense Insurance in Maryland

Below is a table with rates pulled from our life insurance quoting tools. This will give you a comprehensive idea of how much funeral insurance costs in Maryland monthly.

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

Best Final Expense Life Insurance Companies in Maryland

The best final expense life insurance companies for seniors in Maryland are listed below.

• Greek Catholic Union Final Expense
• Mutual of Omaha Final Expense
• Prosperity Final Expense
• Transamerica Final Expense
• America Amicable Final Expense
• Aetna Accendo Final Expense
• Royal Neighbors of America Final Expense
• Gerber Final Expense
• Guarantee Trust Life Final Expense
• American General(AIG) Final Expense
• Great Western Final Expense

Funeral Costs Nationally

First and foremost, funeral expenses are not cheap in fact they are the 2nd biggest expense in an individual’s lifetime.

These expenses can be so high that institutions like the Department of Human Services offer assistance programs to some individuals in different states.

Funeral expenses are not dictated by Maryland law they are dictated by the funeral homes.

Burial Expenses

The national average for a burial ranges between $8,000 to $12,000. Another factor is inflation which will put these rates at $15,000 in the next 10 years.

Cremation Expenses

The national average for cremation is between $3,000 to $5,000 with inflation putting it upwards of $10,000 in the next 10 years.

This is why when working with one of our licensed agents for funeral insurance in Maryland they will go over inflation with you during your application.

Furthermore, to get an accurate price on your funeral so you know how much life insurance you need you can get a general price list from your local funeral home. You take the total expenses for the funeral then add $5000 for inflation and any extra coverage for any other end-of-life expenses such as outstanding bills, credit card debt, medical bills, mortgage balance, etc.

Once you have an accurate figure of your expense’s purchase a policy matching the figure and everything is taken care of.

This is the type of pre-planning we walk our clients through when they work with us.

Funeral Insurance Coverage Benefits

The benefits of funeral insurance in Maryland are not only peace of mind and stability for your family but also the additional rider benefits that can be included with them.

Social Security Billing

If you are a senior on a fixed income social security billing is great for your payments. This makes sure if you receive your check on the 3rd but that 3rd day happens to be a Saturday then the insurance company will not take out your payment until that following weekday when the check clears. This makes sure your policy stays in force and never lapses.

Accelerated Living Benefit Riders

This rider allows you to withdraw money from your policies face amount if you become terminally ill. It can help you pay any extra medical bills or bills at home. It can also pay for any experimental treatments health insurance may not cover.

This benefit can even help you get a head start on funeral arrangements while you are alive.

Accidental Death Rider

This rider can make your policy pay double or even triple in the event of you dying from an accident.

Furthermore, this rider can be added in most cases with no additional cost to your coverage.

Grandchild Rider

This allows you to cover grandchildren under your policy until they are 18 years of age. This is a great addition to add to your policy at the time of the application.

Other Benefits With a Life Insurance Plan Include:

• Face Amounts of $1,000 to $40,000
• Tax-Free Death Benefit
• Payout Typically within 48 hours of Receiving a Death Certificate

Picking the Right Life Insurance Company

Here at ParamountQuote, we work with all the top-rated life insurance companies in all 50 states.

Picking the right life insurance company in Maryland comes down to 3 things.

• Are they A-Rated
• Have they been in business for over 50 years
• Do They Have a Perfect Track Record

A carrier that has and maintained an A-rating and has been in business for over 50 years with a great track record is the absolute best company you can work with. This shows the quality and stability of a carrier you can trust.