Why you need to buy final expense Burial insurance (2024)

Last Updated July 12, 2024
Burial Insurance Form Policy Concept
Unfortunately, we all pass away. 
So, why are we so resistant to planning ahead for something that is guaranteed to happen? Not only that, something that affects the lives of the family we leave behind. 
If you don’t have final expense life insurance, or if you do have final expense but don’t have enough. This article is for you. 

What is Final Expense Insurance?

Final Expense insurance is a form of permanent whole life insurance designed to pay for final expenses such as burial, cremation, and funerals.

On average, most final expense insurance plans have a face amount cap of around $50,000 but this all depends on your age and your current state of health.

A great attribute of final expense insurance is that even seniors with pre-existing health conditions can qualify without having to be asked medical questions or take a medical exam.

Things to Consider Before you Buy Final Expense Insurance

When doing your research, it’s important to know there is no “one size fits all” final expense insurance plan. The plan your brother, spouse, or neighbor has may not be the best plan for you.

Here are a few things you should keep in mind when shopping for final expense insurance:

  • Are you prescribed medications for any pre-existing conditions?
  • Are you a smoker?
  • What form of payment will you use?

As you’ll see in our review below, each insurance company has different requirements. This doesn’t mean you’ll pay more because you have a certain condition or the form of payment you choose to use, it’s just that each carrier views these things differently.

How much does final expense insurance cost?

On average, final expense insurance can cost between $40 and $75 per month per $10,000 in coverage.

It takes minutes to apply and some of the top insurance carriers don’t even ask you medical questions.

Company 50 y/o Male 50 y/o Female 60 y/o Male 60 y/o Female 70 y/o Male 70 y/o Female

These figures were obtained from the NFDA and are estimates only. For a detailed quote, please contact an agent. 

Our Top 5 Reasons Why you need to Purchase Final Expense Life Insurance

1. Dying is Expensive

With the rise of inflation, it’s anticipated the average cost of a funeral will increase from the already high $7,000-$12,000 national average.

We all have an expiration date. We don’t know when, but we do know it’s inevitable. Knowing what it costs, why wouldn’t we purchase insurance?

2. Final Expense Insurance is safe from Debt & Taxes

If you have debt, Final Expense Insurance gives you a way to evade creditors and leave behind money for your funeral costs.

One of the beautiful features of final expense insurance is the ability to leave money to whoever you choose, without it being subject to creditors, probate, and even taxes.

The beneficiary you choose will receive a lump-sum tax-free benefit to use however you’d like.

3. Affordable Monthly Premiums

A 65-year-old non-smoking female can get $10,000 of coverage for $41.01. That’s $4.10 per $1,000 coverage. 

As you can see in the example above, final expense life insurance is an extremely affordable way to leave thousands of dollars to your family.

There is no alternative option that offers a more affordable route to ensure your legacy and final wishes are preserved. 

4. Guaranteed Benefits

If you buy the final expense today and die in a week, your beneficiary in most cases would receive the full benefit amount.

One of the biggest advantages final expense life insurance gives us is the ability to predict the future. What do I mean by that you may ask yourself? 

Well, obviously you’re unable to literally predict the future, but you can plan for it. 

Final expense insurance gives you a guaranteed benefit regardless if you pass away in 7 days or 7 years. 

5. Speed of payment

When you pass, your family will immediately begin your final arrangements. Having access to funds quickly is vital in making this happen.

One of the biggest issues with alternative methods to funding your final arrangements is access to the funds. Often, it requires you to go through probate among many other lengthy steps.

With final expense life insurance, your beneficiary will receive funds typically 48-72 hours after filing the claim.


We hope this article has provided some much-needed insight and reasons why you should start planning your final arrangements and making final expense life insurance one of your first purchases.

If you need any assistance and would like to speak to one of our licensed advisors, give us a call at 1-866-311-4338.

Prefer To Call Us?

We know insurance is tricky.
5 agents available now