Final Expense Insurance
Coverage for funeral costs and end-of-life expenses.
Typical cost: $30 – $100 per month
Final Expense Insurance
Final expense insurance (burial insurance) is a small whole life policy—typically $5,000-$25,000—designed to cover funeral costs, medical bills, and other end-of-life expenses. It's often available without a medical exam.
Simplified Underwriting
Final expense policies use simplified or guaranteed issue underwriting, making them accessible to seniors and those with health conditions. However, guaranteed issue policies have graded benefits—full death benefit may not apply if death occurs in the first 2-3 years.
What's covered
Funeral Coverage
Covers casket, burial plot, funeral service, and related costs.
Medical Bills
Pays remaining medical expenses and hospice costs.
Legal/Administrative
Covers estate settlement costs, probate, and legal fees.
Guaranteed Acceptance
Available without health questions for those who can't qualify elsewhere.
Permanent Coverage
Whole life basis means coverage never expires.
Tips
- • Final expense is typically more expensive per dollar of coverage than term
- • Guaranteed issue has a waiting period before full benefits apply
- • Consider term life if you can qualify and need more coverage
- • Premium can be locked in and never increases
- • Designate a beneficiary rather than the estate to avoid probate
Other life insurance types
Term Life Insurance
Affordable coverage for a specific period of time.
Whole Life Insurance
Permanent coverage with a cash value component.
Universal Life Insurance
Flexible permanent coverage with adjustable premiums.
Variable Life Insurance
Permanent coverage with investment options.
Survivorship Life Insurance
Joint policy covering two lives, paying out after the second death.
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