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Understanding Final Expense Insurance: A Comprehensive Guide

Losing a loved one is a difficult experience. What makes it even more challenging is the cost associated with the end of life. Final expense insurance, also known as burial or funeral insurance, is a type of whole-life policy that covers medical bills and funeral expenses when you pass away. It's a popular choice among seniors due to its affordable price, smaller benefit amounts, and focus on covering funeral costs

What is Final Expense Insurance?

Final expense insurance is a whole-life policy that does not expire as long as premiums are paid. It has a cash value, meaning the insured may be able to take out a policy loan. The application process is simplified, usually requiring no medical exam, just health questions on the application. Coverage can often be issued in days.

How Much Does Final Expense Insurance Cost?

The average final expense policy costs between $30-$80 a month and depends on your age, sex, health, coverage amount, and the life insurance company you choose. If you have significant health conditions or are over 70, your premium will probably be higher and may cost between $70-$130 a month. The average cost of a final expense policy for $10,000-$15,000 in coverage is roughly $50-$100 monthly.

Why Choose Final Expense Insurance?

Final expense life insurance is popular with seniors because of its affordable price, smaller benefit amounts, and emphasis on covering funeral costs. Traditional life insurance policies such as term insurance are primarily intended to replace any income lost when a loved one dies. These policies are most important to families during the earlier years when we are working, paying a mortgage, making car payments, and raising our kids.

Once we have retired, paid off the mortgage, and the kids are out of the house, traditional life insurance policies are not needed as much. What is needed is a way to pay for any expenses we leave behind when we pass. No one wants to take hard-earned cash out of checking or savings to pay for the funeral, so it is wise to have an insurance policy to cover that expense. According to the National Funeral Directors Association, the median cost of a funeral can be over $9,000. With no way to pay for these expenses, surviving loved ones often experience a financial burden during a time of intense grief.

Final expense life insurance is a smart and compassionate solution for seniors looking to protect their loved ones from rising funeral costs.


Final expense insurance is a valuable tool for seniors looking to alleviate the financial burden of end-of-life expenses on their loved ones. With affordable rates and an easy application process, it offers peace of mind knowing that funeral costs and other related expenses will be covered.