top of page

Final Expense

What is final expense?

Final expense insurance, also known as burial insurance or funeral insurance, is a type of whole life insurance policy. Its primary purpose is to cover the costs associated with end-of-life expenses, such as funeral services, burial or cremation, and other related costs like medical bills or outstanding debts. These policies typically offer smaller death benefits, ranging from $5,000 to $40,000, compared to traditional life insurance policies.


Who needs final expense?


Seniors often benefit the most from final expense insurance. As people age, qualifying for traditional life insurance can become more difficult and expensive. Final expense insurance provides an accessible option for seniors to ensure their end-of-life costs are covered.


Individuals Without Savings

For those who haven't accumulated sufficient savings to cover funeral and related costs, final expense insurance provides a financial cushion. This prevents loved ones from having to pay for these expenses out of pocket.


People Without Life Insurance

Individuals who do not have any other life insurance policy and are concerned about leaving their family with unpaid funeral expenses should consider final expense insurance. It ensures that their final costs are covered, without burdening their loved ones.


Low-Income Individuals

For low-income individuals who may not have the financial means to set aside funds for funeral expenses, final expense insurance offers an affordable way to plan for the inevitable.


Final expense insurance is a practical solution for covering end-of-life expenses, offering peace of mind and financial security for both policyholders and their families. While it has its limitations, such as lower death benefits and higher premiums, its accessibility and guaranteed coverage make it an attractive option for many, especially seniors and those with health concerns. By understanding the advantages, pros, and cons, you can make an informed decision about whether final expense insurance is the right choice for you and your loved ones.


bottom of page