Final Expense / Whole Life / Burial Insurance
Permanent whole life coverage with a smaller benefit, designed to help your family with funeral costs, medical bills, and other end-of-life expenses.
What It Is
Final expense insurance is a type of whole life insurance with a smaller death benefit, often designed to cover funeral or cremation, burial, outstanding medical bills, and other end-of-life costs. It is sometimes called burial insurance.
Who It's For
People, often roughly ages 50 to 85, who want to keep final costs from falling on their family. Eligibility and ages vary.
Key Features
- Coverage amounts commonly range from a few thousand dollars to around $50,000.
- Many policies are designed so premiums don't increase and coverage doesn't expire as long as premiums are paid.
- Many plans use a short health questionnaire instead of a medical exam; eligibility varies.
- Some plans may have a waiting period depending on health history.
- Beneficiaries can generally use the benefit for any purpose.
Frequently Asked Questions
Do I Need a Medical Exam?
Many final expense plans use a few health questions instead of an exam. Eligibility varies by plan and health history.
What Can the Benefit Be Used For?
Generally anything your beneficiary needs: funeral or cremation, a burial plot, headstone, medical bills, or debts.
Is There a Waiting Period?
Some plans have a waiting period depending on health. An agent can explain which options may fit you.
General information only, not a contract or offer. Terms, benefits, and availability vary by carrier, plan, and state.
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