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Final Expense Insurance is a whole life insurance policy that has a small death benefit and is usually easier to get approved for with only a few health questions.

Some companies may also call Final Expense Insurance; “funeral insurance” or “burial insurance”. 

They are small life policies with a face value (death benefit) that ranges from $1,000 to $50,000 and are available to someone around the age of 45-85 to take care of their family when they pass away.

There is no difference between final expense insurance and normal life insurance, other than the fact that insurance companies sell smaller policies to make it more affordable.

The smaller death benefit of final expense insurance makes the premiums more affordable and the policy is permanent.  Final expense insurance has a death benefit designed to cover expenses such as a funeral or memorial service, embalming and a casket, or cremation.

However, the beneficiaries can use the death benefit for any purpose, from paying property taxes, to paying outstanding medical expenses or for any other needed expense. 

As with any type of life insurance, the premiums for final expense insurance depend on your age and health; the older and less healthy you are, the higher your rates will be for a given amount of insurance.

Men tend to pay higher rates than women because of their shorter average life expectancy. And, depending on the insurer, you may qualify for a lower rate if you do not use tobacco.

Some insurance companies issue final expense policies to people from birth to age 85.


Policies might go up to $50,000 as long as you’re younger than 55 but may only go up to $25,000 once you turn 76.

Final expense insurance is a type of whole life insurance and once you have a policy, the premiums cannot increase, and the death benefit cannot decrease.

Unlike a term policy, a whole life policy does not expire when you reach a certain age. A whole life policy also accumulates cash value that you can borrow against, however, you must remember that any loans that are unpaid when you die will reduce how much money your beneficiaries will receive.

When you apply for final expense insurance, you will not have to deal with a medical exam; however, you will have to answer some health questions.

Because of the health questions, not everyone will qualify for a policy with coverage that begins on day one.

Final Expense may not cover everything, such as paying off a large mortgage, but at least it will help your loved ones pay the bills directly related to your death or any bills they may have a hard time paying without your income.


Example of the average funeral expenses:

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