Final expenses are the costs that arise at the time of a person's death. This includes bills associated with final medical expenses, funeral or memorial services, and the price of burial or cremation. The average burial in the United States today costs approximately $9,000, and that cost does not include funeral or final medical expenses.

Final Expense Insurance is a whole life insurance policy that is designed to pay off the expenses families face upon the death of a loved one. This type of insurance ensures your loved ones aren't saddled with debts that can be financially troubling after you pass.


The one thing that's a certainty is that each of us is eventually going to need to pay for final expense insurance. If you don't have extra funds set aside in savings just for this purpose, your loved ones may struggle with coming up with the money needed to give you the service and burial they want after you have passed.

Leaving behind large debts can be crippling to family members. Final expense insurance enables families to properly grieve their loved ones without the burden of unplanned costs. Thankfully, final expense insurance is an affordable whole life insurance plan that offers a solution to these problems.

How Does Final Expense Insurance Work?

Final expense coverage is a life insurance policy that you purchase for a specific dollar amount ("face value"). You pay premiums periodically to keep the policy in force. If you die while the policy is still active, the insurance company pays the death benefit to the funeral home or individual(s) you named as the policy beneficiary(ies).

Product Features:

  • Covers your final expenses after you have passed. Policies can also be designed to cover final medical expenses, valid debts, and tax obligations.
  • Final expense coverage provides a life insurance death benefit that can help cover the costs of your funeral or memorial service and cremation and/or burial expenses.
  • Usually NO physical, just a few preliminary questions to qualify.
  • You can have peace of mind knowing your loved ones won’t need to worry about how to come up with money to pay your final expenses at a time when they are grieving
  • Some policies will guarantee your acceptance
  • Cannot be cancelled because of your age or health; Final expense insurance is whole life insurance coverage, designed to provide protection for your lifetime, as long as premium payments are made to keep the policy in force.
  • Peace-of-Mind…Final Expense life insurance is also referred to as ‘Peace of Mind’ insurance because you know that your family is protected from any additional financial hardships in your passing. In many cases, Advisen Life & Wealth can recommend a policy where your acceptance is guaranteed.

Frequently Asked Questions  

Q: What are the Advantages of Final Expense Insurance Coverage?

There are many advantages to final expense insurance coverage. Some of the most popular advantages include the following:

  • Permanent protection over a lifetime. Final expense coverage will stay in force, as long as you continue making premium payments as required under the policy.
  • Premiums that don't increase as you grow older. Your premiums are based on your age at the time you take out the policy, and they will remain steady for the life of the policy.
  • Help to protect their loved ones from debts associated with the burial or funeral process. Final expense insurance coverage offers cash after you die that can be used to pay the cost of your funeral or memorial service, as well as the costs of cremation and/or burial.
  • Tax-deferred cash value that builds over time. In addition to offering a fixed death benefit (the "face amount" of the policy), final expense insurance can also provide the option to accumulate cash value over time, inside the policy.
  • Affordable premiums customized to fit their budget. Your policy, and the premiums you will pay, can be designed to fit your needs and available budget.

Q: Do I qualify for Final Expense Insurance?

Final expense insurance is a life insurance product, but many carriers offer simplified underwriting for final expense policies. This means you may not have to undergo a physical examination in order to qualify for coverage.

The best way to find out whether you qualify for a final expense policy is to contact Advisen Life & Wealth to learn more.

Q: Can I Afford Final Expense Coverage?

Many clients are pleasantly surprised at how affordable purchasing final expense insurance coverage can be.

Because we don't offer "one-size-fits-all" solutions at Advisen Life & Wealth, and because we have access to insurance products offered by dozens of insurance carriers, we can help you find a final expense policy that is designed to meet both your needs and your budget.

Q: When Should I Buy Final Expense Insurance?

While we know that we are all going to eventually need final expense coverage, unfortunately none of us can predict when we are going to need it.

Because the cost of life insurance products, including final expense insurance, is based on your attained age and health at the time you apply for coverage, it just makes good sense to purchase coverage sooner rather than later. Doing so will likely result in lower premium payments, and will also give you and your loved one’s valuable peace of mind knowing that your death will not create a financial burden on top of the emotional burden your loved ones will be dealing with.

  Advise. Insure. Prosper

Our professional team at Advisen Life & Wealth have a very strong commitment to providing specialized, personalized, and quality insurance plans to all our clients at extremely competitive pricing, and in an accurate and efficient manner.