depending on the burial insurance plan you get, your premium may change

Can Burial Insurance Premiums Ever Change?

There are multiple types of burial insurance plans. Depending on what kind of plan you get, your premium may change. Read on to understand your options when paying for burial insurance.

Paying for Burial Insurance

To purchase a burial insurance policy, you have to apply. Once you apply and are accepted, you’ll pay a monthly premium based on the death benefit of the policy, your age, your gender, and your health conditions. You’ll pay this monthly premium until you pass away. In some types of policies, your premium will never change. In other policies, your premium changes based on several factors.

Types of Premium Plans

There are four different premiums that differ in how they change over time. The four types of premiums are: 

  1. Stepped
  2. Leveled
  3. Capped
  4. Payout Guarantee

Each name refers to how the premium changes or how your beneficiaries will receive the death benefit.  


The premium is determined every year depending on when you renew your policy. It’s based on your age, sex, and the death benefit’s size. Stepped premiums go up each year with your age.


Your rates are locked in for life at the level they started when you first bought the policy. If you pay your bills, they won’t increase.


These premiums have a fixed monetary or age limit that, once you meet them, will satisfy your commitment. This means after you pay a certain amount for a certain amount of time, you’ll continue to be covered without paying a dime.

Payout Guarantee

This premium ensures that your beneficiary will be paid whatever is higher: the exact amount of premiums you’ve paid or the original insured amount.

In other words, if you buy a leveled plan, your premiums will never change. If you purchase a stepped plan, your premium will change each year. 

Prices of Premiums

The ranges of premiums for burial insurance policies can vary wildly. The prices depend on your age, gender, and health problems. The most affordable ones cost about $15 per month. The most expensive policies—generally reserved for men 85+ who have multiple health problems—cost $600. Most people pay between $20-$250. If you have a leveled plan, you’ll pay this price forever. If you have a stepped plan, your cost will increase. 

For all of your burial insurance questions, contact us at Senior Life Services today! Our number is (800) 548-3249.


Ensure your loved ones are taken care. Call us today for a quote!

Call Toll Free: (800)548-3249