Final Expense Insurance

Final expense is a smaller permanent life insurance policy typically intended to help older adults cover funeral costs and other end-of-life expenses. Also sometimes called “funeral insurance” or “burial insurance,” final expense life insurance typically provides a guaranteed payout to help loved ones pay for a funeral service, burial or cremation, doctor or hospital bills, or other immediate expenses after a death. Like other types of permanent insurance, final expense insurance will never expire as long as you keep up with your premiums. Since coverage amounts are lower than other types of life insurance, like term or permanent insurance, the premiums for a final expense policy tend to be affordable. Coverage amounts can range from a few thousand dollars up to $40,000, in some cases.