Spare your family the bill, and the worry
Final expense insurance is a smaller whole life policy that pays for a funeral and the bills that come after, so the people you love can focus on each other instead of on money.
Simple coverage that lasts for life
A final expense policy is whole life insurance in a smaller size. Coverage never expires as long as the premiums are paid, the premium never goes up, and the benefit goes directly to the person you name.
It exists for one purpose: making sure the cost of saying goodbye does not fall on your children or your spouse. Because the amounts are smaller and the questions simpler, it is usually easier to qualify for than traditional life insurance, including for people managing health conditions.
A funeral is only part of the bill
The National Funeral Directors Association’s most recent price study (2023) put the median cost of a funeral with a viewing and burial at $8,300, or $6,280 with cremation. Those figures do not include a cemetery plot or a headstone, which are billed separately.
- Funeral home services and staff
- Casket, urn or cremation
- Cemetery plot, opening and closing
- Headstone or marker
- Flowers, obituary and a reception
- Travel for family members
- Final medical and hospice bills
- Credit cards and other debts left behind
Life insurance or final expense?
Both pay your family when you die. They are built for different stages of life, and many people eventually own both.
Traditional life insurance
Larger amounts to replace income, pay off debts and the mortgage, and raise children. Best for families and working adults. More coverage, and often more health questions or an exam.
Final expense insurance
Smaller amounts that cover funeral costs and final bills. Best for seniors and funeral planning. Lifetime coverage, usually no medical exam, and simpler approval.
Final expense, answered plainly
Do I need a medical exam for final expense insurance?
Usually not. Most final expense policies are simplified issue: you answer a set of health questions and there is no exam. If your health rules that out, guaranteed issue policies ask no health questions at all, but they typically pay only a partial benefit, or a refund of premiums plus interest, if death from natural causes happens in the first two or three years.
What ages can apply?
It varies by insurer, but final expense coverage is generally built for people in their 50s through their 80s. The younger and healthier you are when you apply, the lower the premium tends to be, and it stays level after that.
How much coverage should I get?
Enough to cover the arrangements you want plus any final bills you would not want to leave behind. Policies are usually much smaller than traditional life insurance, often in the range of several thousand to a few tens of thousands of dollars.
Is this the same as a prepaid funeral plan?
No. A preneed plan is bought through a funeral home and pays that funeral home for specific services. Final expense insurance pays the beneficiary you name, and they can use it for the funeral home of their choice, a headstone, medical bills or anything else.
Get a final expense quote without the pressure
Many people call on behalf of a parent, and that is welcome. Share an age and a rough idea of the coverage in mind, and we will explain the options, including what happens if health questions are a concern.
Younger, with a family relying on your income? Term and whole life may fit better.
Funeral cost figures: National Funeral Directors Association 2023 General Price List Study, national medians; local prices vary. Graded and guaranteed-issue benefits, eligible ages and coverage amounts vary by insurer and state. All coverage is subject to underwriting.