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Life Insurance - Final Expense Coverage

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Judi Woods

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Life Insurance - Final Expense Coverage

Final expense life insurance is popular with seniors because of its affordable price, smaller benefit amounts, and emphasis on covering funeral costs.

What Is Final Expense Insurance?

Final expense insurance typically has a smaller death benefit and is easier to apply and possibly get approved. Final expense insurance is sometimes referred to as “funeral insurance,” “burial insurance,” “simplified issue whole life insurance,” or “modified whole life insurance.”


Final expense insurance is a whole life policy that pays medical bills and funeral expenses when you die. It’s also known as burial or funeral insurance. It’s a popular choice among seniors.

Most final expense plans have these features:

  • Whole life insurance – no expiration if premiums are paid

  • Cash value – insured may be able to take out a policy loan

  • Fixed premiums as long as they’re paid

  • Simplified issue – usually no medical exam (also called a life insurance exam) is required, just health questions on the application

  • Easy application process

  • Fast approvals – coverage can often be issued in days

  • Affordable rates

According to the National Funeral Directors Association, the median cost of a funeral can be over $9,000. With no way to pay for these expenses, surviving loved ones often experience a financial burden during a time of intense grief.

Is this type of insurance coverage right for you and for your family? Give us a call today or request a consumer guide to learn more. You'll be glad you did. 

Simplified Issue Whole Life Insurance Final Expense Coverage Guaranteed Acceptance No Medical Exam Premiums Death Benefit Cash Value Permanent Coverage 2. Guaranteed Issue Life Insurance: Life Insurance Final Expense Policy No Health Questions Immediate Coverage Limited Death Benefit (initial years) Guaranteed Acceptance Premiums Cash Value (rare) Permanent Coverage 3. Burial Insurance: Final Expense Coverage Funeral Costs Death Benefit Limited Death Benefit (initial years) Premiums Cash Value (rare) Permanent Coverage 4. Preneed Funeral Insurance: Death Benefit Funeral Costs Premiums Limited Death Benefit (initial years) Permanent Coverage
Life Insurance - Final Expense Coverage

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Final Expense Life Insurance serves as a crucial financial tool designed to alleviate the burden of end-of-life costs. Simplified Issue Whole Life Insurance offers a straightforward solution, providing Final Expense Coverage with Guaranteed Acceptance and without the need for a Medical Exam. Premiums are tailored to offer affordability while securing a Death Benefit that can assist beneficiaries with Funeral Costs and other expenses. Guaranteed Issue Life Insurance further simplifies the process by offering Immediate Coverage without the need for Health Questions. This policy type assures acceptance and coverage, albeit with a Limited Death Benefit during the initial years. Premiums remain steady, providing financial predictability. While Cash Value accumulation is rare, the coverage is Permanent and offers peace of mind. Burial Insurance, a specialized type of coverage, focuses on covering Funeral Costs. The Death Benefit, though limited initially, aids families in managing immediate expenses. Preneed Funeral Insurance offers a structured approach, aligning with Funeral Planning needs. Both policies offer Limited Death Benefits in the beginning, ensuring that premiums remain manageable. Permanent Coverage stands as the cornerstone of these policies, offering long-term reassurance. These various types of Final Expense Life Insurance are designed to provide individuals and families with a dignified financial solution during challenging times. By offering coverage tailored to different needs and circumstances, these policies bring comfort and support, allowing loved ones to focus on honoring the memory of the departed.

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Judi Woods

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