Burial or cremation: start with the choice
The kind of goodbye you want is one of the biggest factors in how much final expense coverage makes sense. Some people have a family plot and a clear plan for burial. Others prefer cremation, and many simply have not decided. Each path has a different cost, so it helps to think about it before you look at quotes.
Final expense insurance is a smaller whole life policy that pays a benefit to your beneficiary for these costs. Premiums are usually level, and the policy does not expire as long as premiums are paid.
What the national figures show
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. The median for a funeral with viewing and cremation was $6,280. Those are national figures, and your own costs may be higher or lower.
Neither median includes the cemetery, the plot, or a monument or marker, and those mostly come with burial. If burial is your plan, ask a cemetery or funeral home for those prices and add them to your number.
Talk to a licensed agent: (949) 807-3995
Turning the choice into a face amount
Face amounts often run from a few thousand dollars up to about $50,000, depending on the insurer, your age and your health. The premium rises with the face amount, so balance what you want covered against what you can keep paying.
- Cremation with a service: start near the cremation median and add any extras you want
- Burial: start near the burial median, then add cemetery, plot and marker costs
- Undecided: choose an amount that would cover burial, so either choice stays open
- Final bills: add a cushion for a last medical bill or other debts
Which plans you may be offered
Your health answers decide the plan type. A level benefit plan asks a short list of health questions with no medical exam, and if you qualify, the full benefit is usually paid from the first day. A graded or modified plan pays a reduced benefit if death from natural causes happens in the first two or three years.
If health questions would rule you out, a guaranteed issue plan asks none, but the benefit is limited for a natural-cause death in the first two years, and face amounts are usually smaller. Accidental death is usually covered in full from the start on plans with a waiting period.
Calling from Oregon
Tell the agent whether you are leaning toward burial or cremation, and they can quote face amounts that match. They will also ask your age, tobacco use and the health questions insurers use, then compare quotes from several insurers. You can apply by phone if one fits, with no obligation.
Most Oregon callers can reach Eterna's licensed agents every day, 6am to 6pm Pacific time. In most of Malheur County, which runs on Mountain time, the hours are 7am to 7pm. The agents compare plans from several insurers, and plans, prices and availability vary by state, insurer, age and health. To check an agent's license or ask an insurance question, contact the Oregon Division of Financial Regulation at https://dfr.oregon.gov/.
