Final Expense Insurance: Who Needs It and What Does It Cost?

The average funeral in the United States costs $8,000 to $12,000 — and that does not include burial plot costs, headstones, or outstanding medical bills. Final expense insurance (also called burial insurance) is a small whole life policy designed to cover these end-of-life costs.

Who Is It For?

Final expense policies are most popular with seniors aged 50–85 who want to make sure their family is not burdened with funeral costs. Many plans have simplified or guaranteed underwriting — no medical exam required — making them accessible to people who cannot qualify for traditional life insurance.

How Much Coverage Do You Need?

Most final expense policies offer coverage from $2,000 to $50,000. A common choice is $10,000–$15,000, which covers a funeral and leaves a cushion for remaining bills.

How Much Does It Cost?

A healthy 65-year-old might pay $40–$80 per month for $15,000 in coverage. Premiums are fixed for life — they will not increase — and the policy will not lapse as long as you pay.

Graded vs. Immediate Benefit

Some plans have a graded death benefit — if you pass away within the first 2 years, your beneficiary receives premiums plus interest rather than the full face amount. Immediate benefit plans pay in full from day one but require more health screening.

Want to compare final expense plans? Wisler works with multiple carriers and can find the best rate for your age and health — no pressure, no cost.