Final Expenses

What is Final expense insurance?

Final expense insurance can cover expenses which could include medical bills, funeral expenses and bills that are due. Final Expense insurance is also known as burial insurance. A bare-bones funeral can cost thousands of dollars.

Why should you consider purchasing a Final Expense policy? If you only have term insurance or a policy that will only cover your present financial responsibilities a Final Expense policy will relieve your loved ones the immediate cost of a funeral.

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  • There is no cost to using a broker.
  • A broker can compare many companies and plans and explain the differences to you. A company agent only knows their plans and can only offer their plans.
  • A broker continues as an advisor to you. 
  • If you have questions or issues, your broker is an additional asset that you can rely on and understands the plan you are on.

How Much Does a Funeral Cost? The average funeral costs between $7,000 and $12,000. This includes viewing and burial, basic service fees, transporting remains to a funeral home, a casket, embalming, and other preparation. This does not included any medical or unpaid bills.

There is a special lump-sum death benefit available to the family through the Social Security Administration which is $255. 

For a healthily 61 year old female in California she could get a $10,000 policy for as low as $32.73 a month or $385 a year.

No. Different companies offer various plans with a range of premiums. There are 3 types of Final Expense Policies:

  • Level lowest cost which has a level death benefit which will be paid day 1 of issue date.
  • Guaranteed which has a higher cost and the death benefit will only pay the premium and 10% before a period of time such as two years than the entire death benefit will be paid. (Note: this is typically sold by mail)
  • Graded or Modified high cost than guaranteed and has a waiting period before the death benefit will be paid.

Yes, final expense policies are whole life policies that gain cash value over time.

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For more information to help make a good decision about a final expense policy you can 

call 800-641-3315 or

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