Life insurance
Final Expense Life Insurance
Affordable whole life coverage that protects your family from funeral and end-of-life costs.
Overview
Final expense insurance, sometimes called burial or funeral insurance, is a small whole life policy designed to cover funeral costs, outstanding medical bills, and other debts so they do not fall on your loved ones. Coverage amounts typically range from $5,000 to $50,000, premiums never increase, the policy never expires as long as premiums are paid, and the benefit is generally paid to your beneficiary income-tax free. Most policies require no medical exam.
Key benefits
- Coverage amounts from $5,000 to $50,000
- Premiums locked in for life; coverage never expires
- No medical exam; simplified health questions
- Benefit paid directly to your beneficiary, usually within days
Who it’s a good fit for
- People between 50 and 85 who want to spare their family the cost of a funeral
- Anyone without existing life insurance or whose term policy has ended
- Those who want a simple, permanent policy with a fixed premium
Final Expense FAQs
How much coverage do I need?
The median cost of a funeral with burial in the United States is over $8,000, and many families also face medical bills and other debts. Most people choose between $10,000 and $25,000. An agent can help you size the policy to your situation.
Will I qualify if I have health conditions?
Usually, yes. Final expense policies use simplified underwriting with a short set of health questions, and guaranteed-issue options exist for people who do not qualify otherwise. Some policies have a graded benefit during the first two years.
Can my premium go up?
No. Final expense policies are whole life insurance with a level premium that is fixed for the life of the policy.
How quickly is the benefit paid?
Once the claim is filed with a death certificate, most carriers pay within a few days to a few weeks, which is why many families use the benefit to cover funeral costs directly.
Ready to compare plans?
Get free quotes online or talk to a licensed agent today.