New York Burial Insurance: 9 Necessary Questions 

Jake Irving

Jake Irving is the Founder of Policy and has contributed to articles for Synchrony Financial, GoBankingRates, Yahoo News, UpCity, Zapier, LegalZoom, and more.

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The Empire State offers so much to do and see. New York is a beautiful state, from stunning Lake Placid to Buffalo and everywhere in between.

The item that is easy to slip the mind of New Yorkers is the costs associated with funerals. The price tag is a significant financial shock for loved ones attempting to grieve and celebrate the life of someone who just passed.

Fortunately, this is where senior final expense insurance can significantly help.

9 Necessary Questions About New York Final Expense Insurance

1. What is New York Burial Insurance?

Final expense, burial, and funeral insurance all refer to the same whole life coverage. Burial insurance is designed for seniors who do not want to leave a financial burden on their loved ones by making a simple and affordable payment each month.

In return, the insured will receive three guarantees from their policy.

Price Never Increases: The cost on day one will be the price moving forward, meaning there will never be any hidden rate hikes which is essential for seniors on a fixed income.

Coverage Never Expires: You can never outlive your policy giving everyone in your family peace of mind knowing the financial resources will be available when the time comes.

Builds Cash Value: With each payment, a portion will go towards the cash value. Over time this amount will grow and can be borrowed from if the policyholder chooses.

2. What Makes Funeral Insurance Different from Other Types of Whole Life Insurance?

New York funeral insurance plans are designed for the costs associated with death, while a traditional whole life plan is meant to replace income. Larger whole life plans that replace income or build wealth have much higher monthly premiums.

Burial insurance plans have a smaller face amount, allowing for a lower premium and providing the same permanent benefits as a larger whole life plan.

3. What Can the Payout be Used For in New York?

The great news about burial insurance is that there are no regulations on what the lump-sum payout must be used for. Although, there is a standard set of items for which beneficiaries use this financial distribution.

  • Funeral
  • Cremation
  • Memorial/Celebration of Life
  • Credit Cards
  • Charity Donations
  • Medical Bills
  • Remaining Balance on a Mortgage
  • Post-Mortem Expenses
  • Leaving an Inheritance
  • Remaining Car Loan Balances
  • Legal Expenses
  • Other Final Expenses

4. How Old Can I Be and Still Receive New York Funeral Insurance?

There are plenty of coverage options for seniors in their 80s. Many providers will award initial coverage until the age of 85.

Reminder: In this section, we are only speaking on initial coverage. Once you receive your policy, it will never expire.

5. What is a Waiting Period for NY Burial Insurance?

The waiting period is typically two years for most carriers. If the insured were to pass away during these two years, the beneficiary would receive a predetermined portion of the coverage.

Full coverage will be awarded to the beneficiary if the insured passes away after the waiting period.

6. How do I Receive First-day Final Expense Coverage in New York?

The best way to receive immediate coverage is by contacting an insurance agency. A good agent will compare your health history against several policies to find the one that best suits you, leading to lower prices and a better chance of immediate coverage.

Certain conditions will not allow day one coverage, and a modified plan will be required.

7. Can I Purchase a Policy for My Loved One Who Lives in New York?

Yes, however, there are a couple of things to note. Your family member must agree to the coverage and sign their name on the contract. They will also need to be mentally healthy enough to understand their agreement. You cannot take out a policy on someone without their permission.

8. What is the Best Way to Receive a New York Funeral Insurance Quote?

The most straightforward way to receive a price estimate is by using our online quote machine on this page. You will want to enter your age and gender to ensure you receive an accurate quote. Once you do that, several companies will be displayed.

9. What are the Best New York Burial Insurance Companies?

New York has strict insurance laws, and many carriers decide not to do business in the great state of New York. However, there are a few top options that we recommend.

Foresters Finacial

  • Plan Name: PlanRight Preferred
  • Age Eligibility: 50 – 85
  • Death Benefit Size: $5,000 – $35,000 (depending on age)
  • Health Questions: Yes
  • Waiting Period for Benefits: No
  • A.M. Best Company Rating: A (excellent)
  • Full Foresters Review


  • Plan Name: Guaranteed Acceptance
  • Age Eligibility: 50 – 80
  • Death Benefit Size: $5,000 – $25,000
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • A.M. Best Company Rating: A (excellent)
  • Full Gerber Review

How Much Do Funerals Cost In New York?

Funeral costs can range over a wide variety of price points depending on what area of the state you live in. On average, a traditional burial service in New York is $7,230, and a cremation service averages $5,937.

Location Burial Cremation
New York City
Saratoga Springs
State Average

Not included in the price estimates:

  • Cost of Headstone, Monument, or Marker
  • Cemetery Property, Plot of Land, Columbarium, etc.

Lifespan and Cause of Death in New York

The average age of death in NY is 80.7. Compared to the national average lifespan of 78.8, New York is one of the top states for the most extended lifespans.

Listed below are the top 10 leading causes of death in the state.

  1. Heart Disease
  2. Covid-19
  3. Cancer
  4. Accidents
  5. Chronic Lower Respiratory Disease
  6. Stroke
  7. Diabetes
  8. Flu/Pneumonia
  9. Alzheimer’s Disease
  10. Hypertension

Every person has been affected by one of these medical conditions, either personally or through a family member.

None of us know when our health will decline. The best course of action is to create a financial plan to leave a legacy behind so loved ones can celebrate your life without worrying about the financial implications.

Final Thoughts About New York Burial Insurance

a. New york final expense insurance offers whole life benefits while still being affordable and easy to get.

b. The beneficiary can use the death benefit money for anything giving them flexibility.

c. The best way to figure out the right plan for you is by contacting a highly rated agency specializing in burial insurance. This will assure you find the right plan to match your medical history and budget.