How Much Does Final Expense Insurance Cost?
Real rates by age and coverage amount. No medical exam on most plans. Your rate is locked in and never increases.
The Short Answer
Final Expense Insurance Costs $30 to $70 per Month
Most people pay between $30 and $70 per month for final expense insurance, depending on their age, gender, health questionnaire answers, and the amount of coverage they choose. Final expense is a type of whole life insurance designed to cover funeral costs, burial expenses, outstanding medical bills, and other end-of-life costs. Coverage amounts typically range from $5,000 to $50,000.
One of the biggest advantages of final expense insurance is that most plans require no medical exam. Instead, you answer a short health questionnaire. If you qualify through simplified issue underwriting, you get lower rates and full coverage from day one. Your premium is locked in permanently and will never increase, regardless of changes to your age or health.
The table below shows estimated monthly premiums for non-tobacco applicants at common coverage levels. Your actual rate will depend on your specific health answers and the carrier that offers you the best price. Asurgo compares rates from 25+ carriers to find the lowest available option for your situation.
| Age | $10K (Male) | $10K (Female) | $15K (Male) | $15K (Female) | $25K (Male) | $25K (Female) |
|---|---|---|---|---|---|---|
| 50 | $35/mo | $28/mo | $48/mo | $38/mo | $72/mo | $58/mo |
| 55 | $42/mo | $34/mo | $58/mo | $46/mo | $88/mo | $70/mo |
| 60 | $48/mo | $38/mo | $65/mo | $52/mo | $100/mo | $80/mo |
| 65 | $58/mo | $45/mo | $80/mo | $62/mo | $125/mo | $95/mo |
| 70 | $68/mo | $52/mo | $95/mo | $72/mo | $148/mo | $112/mo |
| 75 | $85/mo | $65/mo | $120/mo | $92/mo | $190/mo | $145/mo |
| 80 | $110/mo | $85/mo | $155/mo | $120/mo | $245/mo | $190/mo |
What Affects Your Rate
5 Factors That Determine Your Final Expense Cost
Final expense insurance pricing is straightforward compared to other types of life insurance. There is no medical exam, no blood work, and no lengthy application process. But several factors still influence what you pay each month.
1. Your Age at Application
Age is the single biggest factor in your final expense premium. A 55-year-old will pay significantly less than a 75-year-old for the same coverage amount. Once your policy is issued, your rate is locked in permanently, so applying earlier means paying less for the rest of your life. Every year you wait, the price goes up.
2. Health Questionnaire Answers
Most final expense policies use simplified issue underwriting, which means you answer a short health questionnaire instead of taking a medical exam. The questions typically cover major conditions like cancer, heart disease, stroke, kidney failure, and oxygen use. If you answer favorably, you qualify for the lowest rates with full coverage starting immediately. If you have certain health conditions, you may still qualify through a different carrier or through a guaranteed acceptance plan.
3. Tobacco Use
Tobacco users typically pay 30% to 50% more than non-tobacco applicants for the same final expense coverage. Some carriers define tobacco use as cigarettes only, while others include cigars, chewing tobacco, and nicotine patches. If you have quit tobacco recently, some carriers offer non-tobacco rates after 12 to 24 months of being tobacco-free. This is one area where comparing carriers can make a real difference in your monthly payment.
4. Coverage Amount
Final expense policies typically range from $5,000 to $50,000 in coverage. The more coverage you purchase, the higher your monthly premium. Most families choose between $10,000 and $25,000, which is enough to cover funeral and burial costs plus any remaining medical bills or small debts. Choosing the right amount means thinking about what your family will actually need, not just picking the lowest or highest option.
5. Insurance Carrier
Different carriers price their final expense policies differently, even for the same applicant profile. One carrier might offer the best rate for a 65-year-old diabetic, while another is more competitive for a healthy 72-year-old. This is exactly why working with an independent brokerage like Asurgo matters. We compare rates from 25+ carriers to find the one that gives you the best price for your specific situation.
How It Compares
Final Expense vs. Term Life Insurance for Seniors
If you are over 50 and looking for affordable life insurance, you have probably seen both final expense and term life insurance as options. They serve different purposes, and understanding the differences helps you choose the right one for your situation.
Final expense insurance is permanent whole life coverage. It lasts your entire life, your rate never increases, and it builds a small cash value over time. Coverage amounts are smaller, typically $5,000 to $50,000, and most plans require no medical exam. It is designed specifically to cover funeral costs and end-of-life expenses so your family is not left with a financial burden.
Term life insurance covers you for a set period, usually 10, 20, or 30 years. It offers higher coverage amounts at lower monthly premiums, but it expires at the end of the term. For seniors over 60, term life can be difficult to qualify for and significantly more expensive per dollar of coverage. Most term policies also require a medical exam.
For most seniors whose primary goal is covering funeral costs and protecting their family from out-of-pocket expenses, final expense is the more practical and affordable choice. If you need a larger death benefit for income replacement or mortgage protection, term life may be worth exploring. You can also carry both types of coverage at the same time.
For a detailed look at how final expense works, visit our Final Expense Insurance product page.
Explore Related Cost Guides
Save Money
4 Ways to Get the Lowest Final Expense Rate
1. Compare Rates from Multiple Carriers
This is the single most effective way to save on final expense insurance. Carriers price their policies differently, and the cheapest option for one person may not be the cheapest for another. Asurgo shops 25+ carriers on your behalf so you do not have to call around and compare on your own. One quick conversation is all it takes to find your lowest available rate.
2. Choose Simplified Issue Over Guaranteed Acceptance
If your health allows it, always choose a simplified issue policy over guaranteed acceptance. Simplified issue plans are typically 30% to 50% cheaper because you answer a short health questionnaire to qualify. Guaranteed acceptance plans accept everyone regardless of health, but that comes with higher premiums and usually a two-year waiting period before the full death benefit is available. If you can answer the health questions favorably, simplified issue is the better value.
3. Apply While You Are as Young and Healthy as Possible
Your rate is based on your age and health at the time you apply, and it gets locked in for life. Waiting even one or two years means a higher premium for the same coverage. Health conditions can also develop over time, which could push you from simplified issue rates into more expensive guaranteed acceptance pricing. The best time to lock in your rate is today.
4. Consider Slightly More Coverage Than the Minimum
It may seem counterintuitive, but choosing a slightly higher coverage amount can be a smart financial move. The per-unit cost of final expense insurance decreases as coverage increases, meaning you get more value per dollar at higher levels. The difference between $10,000 and $15,000 in coverage might only be $10 to $15 more per month, but it provides your family with a meaningful additional cushion for medical bills, legal fees, or other expenses beyond funeral costs.
Find out exactly what you would pay.
We compare final expense rates from 25+ carriers in minutes. No obligations, no pressure. Just an honest quote from a licensed specialist.
Get Your Free QuoteCommon Questions
Frequently Asked Questions About Final Expense Costs
How much does final expense insurance cost per month?
Most people pay between $30 and $70 per month for final expense insurance, depending on their age, gender, health answers, and coverage amount. A 60-year-old woman in good health can typically get $15,000 in coverage for around $52 per month. A 60-year-old man would pay closer to $65 per month for the same amount. Rates are locked in and never increase once your policy is issued.
Is final expense insurance worth the cost?
For most seniors, yes. The average funeral in the United States costs between $8,000 and $12,000, and that does not include outstanding medical bills, legal fees, or other end-of-life expenses. Final expense insurance ensures your family is not left paying these costs out of pocket. The premiums are affordable, the coverage is permanent, and the death benefit is paid directly to your beneficiary tax-free.
What is the difference between simplified issue and guaranteed acceptance pricing?
Simplified issue final expense requires you to answer a short health questionnaire, usually 8 to 15 questions. If you qualify, you get lower rates and full coverage from day one. Guaranteed acceptance has no health questions at all, but premiums are typically 30% to 50% higher and most policies include a two-year waiting period before the full death benefit is available. If you can qualify for simplified issue, it is almost always the better value.
At what age should I buy final expense insurance?
The best time to buy final expense insurance is as early as possible. Your rate is based on your age at the time of application, and it gets locked in permanently. A 55-year-old will pay significantly less than a 70-year-old for the same coverage. Buying in your 50s or early 60s gives you the most affordable premiums and the best chance of qualifying for simplified issue rates.
Can my final expense rates go up?
No. Final expense insurance is a type of whole life insurance, which means your premium is locked in at the rate you receive when your policy is issued. It will never increase regardless of changes to your age or health. This is one of the biggest advantages of final expense coverage compared to other types of insurance that can be subject to rate increases at renewal.