Final expense · burial insurance
Spare your family the cost of saying goodbye.
Final expense insurance is a smaller life insurance policy that helps your family pay for a funeral, burial or cremation, and other final bills. Many policies ask only a few health questions, and some ask none.
- Often no medical exam
- Coverage that doesn't expire
- Paid to the person you choose
Real costs
What a funeral costs today
National medians from the National Funeral Directors Association. Cemetery costs, like a plot and headstone, are usually extra.
| Type of funeral | Median cost (2023) |
|---|---|
| Viewing and burial | $8,300 |
| Viewing and cremation | $6,280 |
Policy types
Simplified issue vs. guaranteed issue
Health questions
Simplified issue
You answer health questions, but there's usually no medical exam. If you qualify, it typically costs less and pays more than guaranteed issue.
No health questions
Guaranteed issue
No health questions within the ages the company accepts. It usually costs more for less coverage, and often pays a reduced benefit in the first years.
Read the fine print
Graded benefits
Some policies pay less than the full amount, or return your premiums, if death happens in the first years. The policy must show the minimum it will pay.
What affects your price
Final expense is priced on a few simple things. Comparing several carriers matters, because each one prices health differently.
- Your age
- Health answers
- Tobacco use
- Coverage amount
- Simplified vs. guaranteed issue
Final expense FAQ
What is final expense insurance?
It's a form of life insurance with a smaller death benefit, meant to help your family pay for a funeral, burial or cremation and other bills at the end of life.
Do I need a medical exam?
Usually not. Simplified issue policies ask health questions instead of an exam, and guaranteed issue policies don't ask about health at all.
What's the difference between simplified and guaranteed issue?
Simplified issue asks health questions and, if you qualify, generally costs less and pays more. Guaranteed issue skips the health questions but typically costs more for less coverage and may pay a reduced benefit in the early years.
How much coverage should I get?
Start with what a funeral costs where you live. National medians are about $8,300 for a viewing and burial and $6,280 for a viewing and cremation, before cemetery costs. Add any medical bills or debts you don't want to leave behind.
Is the payout taxed?
Life insurance death benefits are generally not subject to federal income tax for beneficiaries. Ask a tax professional about your situation.
Sources
Last reviewed by a licensed agent. Figures change each year — confirm current amounts at the sources above.
Take this off your family's shoulders.
Compare final expense options from multiple carriers — free.