Where $50,000 sits in final expense coverage
Final expense face amounts usually run from a few thousand dollars up to about $50,000, depending on the insurer, your age and your state. A $50,000 policy is at the upper end of that range. It is still whole life coverage with a level premium that does not expire as long as premiums are paid, but it does more than the smaller plans built only for a funeral.
For comparison, the National Funeral Directors Association's 2023 General Price List Study put the national median cost of a funeral with viewing and burial at $8,300. A $50,000 benefit would cover that several times over, with plenty left for cemetery costs, debts and the family.
Who usually looks at $50,000
If your main goal is the funeral, $50,000 is likely more than you need, and a smaller amount would mean a smaller premium. It is worth being clear about what the money is for before you decide. People who choose this amount usually have a reason beyond the funeral.
- People in their 50s or 60s who want permanent coverage that will not expire
- Someone who wants to leave a set amount to a spouse or child
- A person with a mortgage balance or other debt they want paid
- Someone who wants to leave money to a charity or church
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How insurers review a $50,000 application
Larger amounts get a closer look. Most final expense plans at this size still have no medical exam, but you will answer health questions, and many insurers check prescription history and medical records. Some insurers may set stricter health rules for $50,000 than for smaller amounts. Tobacco use, recent hospital stays, insulin and heart or lung conditions are common topics.
Plans that ask no health questions usually do not offer amounts this high. If your health limits you to a graded plan, the benefit is reduced or limited for natural death in the first two or three years, and the maximum amount may be lower. Accidental death is usually covered in full from the start.
What drives the price at $50,000
At this amount, small differences in rate add up. Your age when the policy starts matters most, along with sex, tobacco use and the plan type you qualify for. Two insurers can quote the same person very different premiums for $50,000, which is why comparing several matters more here than at smaller amounts.
When you call, the agent will ask your age, state, tobacco use and the health questions, and what the $50,000 is meant to do. They compare quotes from several insurers and, if the premium is higher than you planned, can show $25,000 or $30,000 next to it. You can apply by phone, and you are not obligated to buy.
