The honest answer is that it depends on you. Two people the same age can pay very different amounts based on their health, whether they smoke, and the type of plan they qualify for. This page explains what drives the price, so a quote makes sense when you get one.
Final expense premiums are usually paid monthly for life and set when the policy starts. The price depends mainly on your age, sex, tobacco use, health, the coverage amount, and whether the plan asks health questions. The only reliable way to know your price is to get a quote based on your details.
Each year older you are when you apply generally raises the premium. Since most plans lock in your rate at the start, the age at purchase matters for the life of the policy.
Insurers generally charge women a bit less than men of the same age, because women live longer on average.
Smokers and other tobacco users typically pay noticeably more. Each insurer defines tobacco use and how long you need to have quit in its own way.
Simplified issue plans ask about conditions such as heart disease, diabetes, COPD, cancer, and recent hospital stays. Your answers decide whether you qualify for level coverage, a graded plan, or neither.
A $5,000 policy costs much less than a $20,000 one. Choosing a realistic amount is the single easiest way to keep the premium affordable.
Level benefit plans usually cost the least for people who qualify. Graded plans cost more, and guaranteed issue plans cost the most per dollar of coverage.
Call to talk with a licensed agent. It is free, and there is no obligation to buy.
Online charts with “as low as” prices are usually based on the healthiest, youngest applicants and the smallest policies. They rarely match what a real person pays. We would rather you hear an actual quote from a licensed agent who knows your situation than rely on a number that does not apply to you.
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.
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.
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.
Most final expense policies have level premiums that stay the same for life. Confirm this in the policy before buying.
It can be if you want your family to have money for a funeral right away and do not have savings set aside for it. An agent can help you weigh it.
Usually you cannot increase it without a new application, but some insurers allow you to lower it. Ask before you buy.
No. Talking with an agent and getting a quote is free, and there is no obligation to buy.
Most final expense plans do not require one. Many ask a few health questions, and guaranteed issue plans ask none.
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 · Ages 50 to 85 · Guaranteed issue · Burial insurance · FAQ
Call to speak with a licensed agent. It is free, and there is no obligation.