When someone passes away, their family is often left managing two things at once: grief and unexpected expenses. The average funeral in the United States now costs over $8,300, and that figure does not include outstanding medical bills, legal fees, or other debts that may need to be settled.
Final expense insurance — sometimes called burial insurance or funeral insurance — is designed to handle exactly these costs. It is a small whole life insurance policy, typically $5,000 to $25,000, that pays a lump sum directly to your beneficiary when you pass away. The funds can be used for funeral costs, medical expenses, debts, or any other purpose.
For most seniors aged 50 to 85, final expense coverage is available without a medical exam. Premiums are locked in at the age you apply and remain the same for life.
Plan Types Available
Level Benefit
Full death benefit coverage from day one. Best for applicants in reasonably good health. Requires a short health questionnaire — no medical exam.
Graded Benefit
For applicants with some health concerns who may not qualify for a level plan. Full death benefit becomes payable after a 2-year waiting period.
Guaranteed Issue
No health questions whatsoever. Available to almost anyone ages 50–80. Best option for those with serious health conditions who may not qualify elsewhere.
What Final Expense Insurance Covers
The death benefit from a final expense policy can be used for any purpose. While the name implies funeral and burial costs, beneficiaries are under no obligation to use the money specifically for those expenses.
Common uses include: funeral home fees and service costs, burial plot or cremation, headstone or marker, reception or memorial service, outstanding medical or hospital bills, credit card balances or other debts, and general family financial support during a difficult time.
Final Expense vs. Burial Insurance vs. Life Insurance
Final expense insurance and burial insurance are the same product — just different names for small whole life policies aimed at covering end-of-life costs.
Traditional life insurance policies are typically much larger (often $100,000 or more) and may require a full medical exam and underwriting process. Final expense policies are smaller, simpler to qualify for, and designed specifically for the senior market.
Unlike term life insurance, which expires after a set period, final expense insurance is permanent — it stays in force as long as you pay the premium and cannot be cancelled by the carrier due to age or health changes.
Monthly Cost Ranges — $10,000 Policy
The table below shows typical monthly premium ranges by age and gender. Actual rates depend on your health history, coverage amount, and carrier.
| Age | Female / Month | Male / Month | Plan Type |
|---|---|---|---|
| Age 50 | $18 – $28 | $22 – $35 | Level Benefit |
| Age 55 | $22 – $34 | $27 – $42 | Level Benefit |
| Age 60 | $28 – $44 | $35 – $55 | Level Benefit |
| Age 65 | $35 – $56 | $46 – $70 | Level / Graded |
| Age 70 | $44 – $70 | $55 – $90 | Level / Graded |
| Age 75 | $65 – $105 | $85 – $135 | Graded / Guaranteed |
| Age 80 | $90 – $140 | $120 – $185 | Graded / Guaranteed |
Estimates for a $10,000 policy. See the full cost breakdown →
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Frequently Asked Questions
Can I get burial insurance without a medical exam?
What is the age limit for burial insurance?
What is the difference between burial insurance and final expense insurance?
Does my premium increase over time?
Who will contact me after I submit my information?
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