Final expense insurance: a smaller policy so your family isn't left with the bills.
Final expense insurance is a small permanent life insurance policy, usually whole life, meant to help cover funeral costs, medical bills, and other expenses at the end of life. It is sometimes called burial insurance.
What final expense insurance is
Final expense policies usually have lower face amounts than other life insurance, often in the range needed for a funeral and a few final bills. They are typically whole life policies, so the coverage is designed to last your whole life as long as premiums are paid.
The death benefit is paid to your beneficiary, who can use it for anything: the funeral, a headstone, medical bills, credit cards, or simply time off work to grieve.
Simplified issue vs. guaranteed issue
Simplified issue plans ask a short set of health questions instead of requiring a medical exam. If you qualify, coverage can start right away on many plans. Depending on your answers, a carrier may offer a plan with a waiting period or decline the application.
Guaranteed issue plans do not ask health questions within their age range, but they usually have a waiting period, often the first two years. If death is from natural causes during that period, the plan typically refunds premiums paid, sometimes with interest, instead of paying the full benefit. Accidental death is often covered from day one. Exact rules vary by policy.
What to compare
Look at the monthly premium, whether the premium is designed to stay level, whether there is a waiting period and how long, and the carrier's rules for cash value and policy loans. We put these side by side so you are not comparing a full-coverage plan against a waiting-period plan without knowing it.
How getting final expense coverage works with us.
We're an independent agency, so we compare options from multiple carriers instead of pushing one company's product.
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Your age, state, health, and the amount you would like to leave. A short form or call is all it takes.
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A licensed agent compares final expense plans from multiple carriers and explains which have waiting periods and which do not.
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Many final expense applications are completed over the phone with health questions. The carrier makes the final decision.
Final Expense questions, answered plainly.
What does final expense insurance cover?
The benefit is paid to your beneficiary as money they can use however they need, such as funeral and burial costs, cremation, medical bills, or other debts. It is not limited to funeral expenses.
Is final expense the same as burial insurance?
The terms are often used for the same type of policy: a smaller whole life policy meant for end-of-life costs. Read the specific policy, because features differ by carrier.
Do I need a medical exam for final expense insurance?
Most final expense plans do not require a medical exam. Simplified issue plans use health questions, and guaranteed issue plans skip them within their age range. Approval and pricing depend on your answers to health questions and the carrier's underwriting.
What is a waiting period?
Some plans, especially guaranteed issue plans, pay only a limited benefit, often a refund of premiums, if death from natural causes happens during the first part of the policy, often two years. After that, the full benefit applies. Check the policy for exact terms.
Does final expense insurance have cash value?
Many final expense policies are whole life and can build a small cash value over time. The amounts are usually modest, and borrowing against it reduces the death benefit if not repaid.
Not sure this is the right fit? Take our 4-question coverage guide.
Coverage is issued by the insurance carrier and is subject to underwriting approval. Policy features, riders, and availability vary by carrier, product, and state, and not every product is available in every state. This page is general education, not tax, legal, or financial advice, and it is not an offer of insurance.
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