Most final expense insurers accept applicants between about 50 and 85. Your age is one of the biggest factors in what you pay, but it is not the only one, and there are good options at every stage. Here is what tends to change from one decade to the next.
Premiums are based on your age when the policy starts, and on most plans they then stay level. Buying earlier usually means a lower monthly cost, but people in their late 70s and 80s can still find coverage. The key is choosing an amount you can comfortably pay for life.
This is often when people first think about final expense coverage, sometimes after losing a parent and seeing the costs firsthand. Many people in their 50s are healthy enough to qualify for simplified issue plans with full coverage from day one. Some also compare final expense with term life, which may cost less for now but ends after a set number of years. If you want coverage that lasts for life, locking in a level premium in your 50s can be a sensible choice.
Retirement often brings a change in coverage. A group life policy through work may end or shrink, and many people realize they no longer have any life insurance. Final expense plans in your 60s are still widely available, and most people can choose between simplified issue and graded plans depending on their health. This is a common age to set up a policy that will be paid by automatic draft from a checking account on a fixed income.
Premiums are higher in your 70s, but coverage is very much available. Insurers look carefully at health questions, so having a list of your conditions and medications ready helps the agent find the right fit quickly. Some people in their 70s choose a smaller amount that covers a cremation or simple service, to keep the monthly cost manageable.
Fewer insurers write new policies past 80, and the maximum coverage amounts may be lower. Guaranteed issue plans often stop accepting applicants somewhere between 80 and 85. If you are in this age group, it helps to talk with an agent who can compare several insurers, since one company’s cutoff may differ from another’s.
Call to talk with a licensed agent. It is free, and there is no obligation to buy.
Final expense policies are sorted mostly by how the insurer decides whether to accept you. That choice affects the price and when the full benefit is available, so it is worth understanding before you call.
You answer a short list of health questions on the application, and there is no medical exam. If the insurer approves you, the full death benefit is generally available from the first day the policy is in force. Because the insurer knows a bit about your health, this is usually the lowest-priced option for people who qualify.
This is built for people who have some health conditions that keep them from qualifying for a level plan. If death from natural causes happens during the first two or three years, the policy pays a reduced amount or returns premiums. After that period, the full benefit is paid. Accidental death is usually covered in full from the start.
There are no health questions at all, as long as you are within the insurer’s age limits. In exchange, nearly every guaranteed issue plan has a waiting period, typically two years, for deaths from natural causes. If death happens in that window, the beneficiary usually receives the premiums paid, often with interest. These plans cost the most for each dollar of coverage and often cap the benefit around $25,000.
Exact terms differ by insurer and by state. A licensed agent should show you the actual policy language, including any waiting period, before you apply.
Start with the kind of goodbye you would want. A simple cremation needs less coverage than a traditional funeral with a burial, a vault, and a headstone. Then add any debts or medical bills you would not want to leave behind, and a small cushion for travel and other costs your family may face in the weeks after.
For many people that lands somewhere between $5,000 and $20,000. Final expense policies are usually available from about $2,000 up to $25,000 or more, and some insurers go as high as $50,000. The right amount is the one that covers what matters to you at a monthly premium you can keep paying for life, because a policy that lapses pays nothing.
If you already have some coverage, such as a small policy from an old job or a union, count it. A good agent will help you avoid buying more than you need.
According to the National Funeral Directors Association, the national median cost of an adult funeral with a viewing and burial was $8,300 in 2023, the most recent figure it has published. When a burial vault is included, which many cemeteries require, the median rises to $9,995. Those numbers do not include a cemetery plot, opening and closing the grave, or a headstone, which can add thousands more.
A funeral with a viewing followed by cremation had a median cost of $6,280. Direct cremation, without a viewing or service, usually costs less.
Prices vary a great deal between regions and even between funeral homes in the same town. Under the FTC Funeral Rule, funeral homes must give you an itemized price list when you ask in person, and must give prices over the phone if you call and ask. Comparing two or three price lists is one of the simplest ways to keep costs down. Source: NFDA 2023 General Price List Study.
When you pass away, your beneficiary contacts the insurance company and sends a claim form and a certified copy of the death certificate. Once the claim is approved, the insurer pays the benefit as a lump sum. Many insurers pay final expense claims fairly quickly, but timing depends on the company and whether the policy is still within its first two years, when insurers are allowed to review claims more closely.
The money goes to the person you name, not to a funeral home, so they can use it however it is needed. Some families choose to assign part of the benefit directly to the funeral home so services can be arranged without anyone paying up front. Your agent can explain how that works with a specific insurer.
Keep your beneficiary information up to date, and tell that person the policy exists and where the paperwork is. A policy nobody knows about can go unclaimed for a long time.
Calling connects you with a licensed insurance agent. Expect a relaxed conversation, not a sales pitch. The agent will usually ask:
From there, the agent can tell you which kinds of plans you are likely to qualify for and what they cost. You never have to decide on the call. It is completely fine to write things down, talk with your family, and call back later.
Many insurers accept applicants up to 80 or 85. Limits vary by company and by state.
No. Coverage is commonly available in your 70s, though premiums are higher than at younger ages.
Most final expense policies are whole life policies with level premiums that are set when the policy starts. Always check the policy terms to be sure.
Most final expense plans do not require one. Many ask a few health questions, and guaranteed issue plans ask none.
A licensed insurance agent. We are not an insurance company. We connect callers with agents who can quote plans from insurance carriers.
No. This is private insurance. We are not affiliated with or endorsed by any government agency, Social Security, or the federal Medicare program.
How final expense works · Cost · Guaranteed issue · Burial insurance · FAQ
Call to speak with a licensed agent. It is free, and there is no obligation.