Final expense insurance is one of the most misunderstood — and most important — types of life insurance available. It's simple, accessible, and designed to solve a very specific problem: making sure your family isn't left with the financial burden of your end-of-life costs.
What is Final Expense Insurance?
Final expense insurance is a type of whole life insurance policy specifically designed to cover end-of-life costs. This includes funeral and burial expenses, medical bills, outstanding debts, and any other final financial obligations you leave behind.
Coverage amounts are smaller than traditional life insurance policies — typically ranging from $5,000 to $50,000 — and the premiums are fixed for life. Because the coverage amount is smaller, the premiums are very affordable even for older applicants.
💡 The average funeral in the United States costs between $8,000 and $12,000. Final expense insurance ensures your family never has to scramble for that money at the worst possible time.
How Does It Work?
Final expense insurance works like any other whole life policy — you pay a monthly premium, the coverage stays in force for life, and your beneficiaries receive the death benefit when you pass away. The difference is the smaller coverage amount and the simplified application process.
Most final expense policies don't require a medical exam. Instead, you answer a few health questions on the application. Depending on your answers, you'll qualify for one of two types of coverage:
- Simplified Issue — requires answers to health questions but no exam. You may be declined based on your answers, but if approved, your benefit is available immediately.
- Guaranteed Issue — no health questions at all. Everyone who applies within the eligible age range is accepted. There is typically a 2-year waiting period before the full death benefit is payable.
Who is Final Expense Insurance For?
Final expense insurance is ideal for:
- Adults aged 50–85 who want affordable, permanent coverage
- People who don't qualify for traditional life insurance due to health issues
- Seniors who want to relieve their family of funeral and burial costs
- Anyone who wants a simple, no-exam policy with guaranteed lifetime coverage
How Much Does Final Expense Insurance Cost?
Premiums vary based on your age, gender, health, and coverage amount — but final expense insurance is generally very affordable. Here are some rough estimates for a non-smoker:
- Age 55, $15,000 coverage: approximately $30–$45/month
- Age 65, $15,000 coverage: approximately $50–$70/month
- Age 75, $10,000 coverage: approximately $60–$85/month
These are estimates only — actual rates depend on the carrier and your specific health profile. An Eterna agent can compare rates across multiple carriers to find the best option for you.
Is Final Expense Insurance Worth It?
For most people over 50, absolutely yes. The peace of mind of knowing your family won't have to worry about funeral costs — often while they're grieving — is invaluable. And because most policies build a small amount of cash value over time, it's not just protection — it's also a savings vehicle.
Even if you have other life insurance coverage, a small final expense policy can be a useful supplement specifically designated for end-of-life costs, leaving your other coverage intact for your family's ongoing financial needs.
Want to see what final expense coverage would cost for your specific age and situation? Our agents will compare rates from top carriers and get you covered — sometimes the same day.
Get Covered Today — No Medical Exam Required.
Protect your family from end-of-life costs with a simple, affordable final expense policy.