What Is Final Expense Insurance?

These policies are designed to cover your end-of-life expenses — nothing more. But they can be expensive.
Katia Iervasi
By Katia Iervasi 
Edited by Lisa Green Reviewed by Tony Steuer

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What is final expense life insurance?

Final expense insurance is a small whole life insurance policy that’s meant to cover your funeral and burial costs, as well as other end-of-life expenses like medical and legal bills.

Also known as burial insurance, these policies are typically open to people 50 and older and capped at low coverage amounts. They usually start at $1,000 and max out at $25,000, though some insurers sell policies with a higher death benefit. While these policies are marketed as a way for your life insurance beneficiaries to cover your end-of-life costs, they can spend the money however they wish.

There are two main types of policies to choose from, and the application process is slightly different:

Since final expense policies are geared toward seniors and insurers don’t have a complete picture of the applicants they’re covering, the premiums tend to be expensive.

Learn more about life insurance in your 50s and beyond

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