Final Expense Insurance: A Complete Guide
Final expense insurance is one of the simplest, most accessible policies available — here's everything you need to know before you apply.
What It Actually Covers
Despite the name, final expense coverage isn't limited to funeral costs — the death benefit is paid to your beneficiary directly, and they can use it for funeral and burial costs, outstanding medical bills, credit card debt, or anything else that's left behind.
Why It Exists Separately From Other Life Insurance
Final expense policies are built for accessibility — smaller face amounts ($5,000–$35,000), simplified or guaranteed-issue underwriting, and fast approval. They're specifically designed for seniors or anyone who might not qualify for a larger traditional policy.
How Much Coverage Do You Need?
The average funeral costs several thousand dollars, so many people choose coverage in the $10,000–$15,000 range to cover funeral costs plus some cushion for other final bills. Your specific number should reflect your actual funeral wishes and any outstanding debts you don't want left behind.