Final Expense Insurance for Seniors
Affordable whole life coverage designed for adults over 50. No medical exam, no blood work, and no doctor visits. Asurgo compares rates from 25+ carriers to find the plan that fits your age, health, and budget.
Get Your Free Quote- No medical exam required on most final expense plans. A brief health questionnaire is all that is needed.
- Coverage ranges from $5,000 to $50,000, designed to cover funeral costs, medical bills, and final debts.
- Your premium is locked in at the time of purchase. It will never increase, regardless of age or health changes.
- Asurgo compares rates from 25+ top-rated carriers to find the lowest available premium for your age group.
- Many seniors are approved the same day and can have active coverage within 24 hours.
Understanding Your Options
What Is Final Expense Insurance for Seniors?
Final expense insurance for seniors is a type of whole life coverage that provides a tax-free death benefit between $5,000 and $50,000, specifically designed to help older adults cover funeral costs, outstanding medical bills, and other end-of-life expenses without leaving a financial burden on their families.
Unlike traditional life insurance, which often requires a medical exam and extensive underwriting, final expense insurance uses simplified issue underwriting. That means no blood tests, no physical exams, and no waiting weeks for a decision. For most seniors, the application is a 15-minute phone call followed by same-day approval.
The coverage is permanent. Once you are approved, your policy stays in force for the rest of your life as long as you pay your premiums. Your rates never increase, your coverage never decreases, and the policy cannot be canceled because of changes in your health. For a complete overview of how this coverage works, see our guide to final expense insurance.
Final expense insurance is the most popular type of life insurance purchased by adults over 50 in the United States. It is designed to be simple, affordable, and accessible, even for people who have been turned down for other types of coverage. And because Asurgo is an independent brokerage that shops 25+ carriers, we can often find rates that are significantly lower than what a single carrier or captive agent would offer.
Pricing by Age
How Much Does Final Expense Insurance Cost by Age?
The cost of final expense insurance depends primarily on your age at the time of purchase, your gender, your health, and whether you use tobacco. The estimates below are for non-smoking adults in standard health. Your actual rate may be lower or higher depending on the carrier and your specific health profile.
| Age | $10,000 Coverage | $20,000 Coverage |
|---|---|---|
| 55 | $25 - $40/mo | $45 - $75/mo |
| 60 | $35 - $55/mo | $65 - $100/mo |
| 65 | $45 - $70/mo | $85 - $130/mo |
| 70 | $60 - $95/mo | $110 - $175/mo |
| 75 | $80 - $125/mo | $150 - $235/mo |
| 80 | $110 - $170/mo | $210 - $325/mo |
These ranges reflect rates across multiple carriers. The wide range exists because different carriers evaluate health conditions differently. One carrier may charge $60 per month while another charges $95 for the exact same coverage amount and applicant profile. This is exactly why working with an independent brokerage like Asurgo matters. We compare all available options to find the carrier that gives you the best rate. For a deeper look at pricing factors, see our article on final expense insurance costs.
Important: Once you lock in your rate, it stays the same for life. A 60-year-old who buys a $15,000 policy today will pay the same monthly premium at age 70, 80, and beyond. The longer you wait, the higher the rate will be when you do purchase coverage.
Recommendations by Age
Best Final Expense Options by Age Group
The right final expense plan depends on where you are in life. Here is what we typically recommend for each age group based on our experience helping more than 1,500 families across 48 states.
Lock in Low Rates Early
This is the most cost-effective time to purchase final expense coverage. Your health is likely still strong enough to qualify for a level benefit plan, which means full coverage from day one at the lowest possible rate. A $15,000 to $25,000 policy is often the sweet spot, covering the average funeral cost plus leaving a cushion for medical bills, credit card debt, or other expenses.
We recommend level benefit plans from carriers like Mutual of Omaha, Transamerica, or AIG for this age group. These carriers offer competitive rates and straightforward health questions that most applicants in their 50s and early 60s can pass without difficulty.
Balance Coverage and Budget
The goal is balancing adequate coverage with a monthly premium that fits comfortably within a fixed income. Many people in this age group are retired or approaching retirement, and every dollar matters. A $10,000 to $20,000 policy is the most common choice.
Some health conditions may affect which carriers are available to you. This is where Asurgo's knowledge of 25+ carrier underwriting guidelines becomes essential. We know which carriers are the most lenient for your specific health history. If a simplified issue plan is not available, a guaranteed acceptance plan is always an option.
Coverage Is Still Available
Many seniors over 75 assume they are too old to get life insurance. That is simply not true. Most final expense carriers accept applicants up to age 85, and some go even higher. Coverage amounts may be lower at this age, typically $5,000 to $15,000, but that is often enough to cover the essentials.
We frequently recommend guaranteed acceptance plans for applicants with significant health issues, and simplified issue plans for those in relatively stable health. The key consideration is making sure the monthly premium is sustainable on a fixed income.
Regardless of your age, the most important step is getting a quote and understanding your options. Many people are surprised to find that coverage is more affordable than they expected, especially when an independent brokerage like Asurgo shops multiple carriers on their behalf.
Health and Eligibility
Health Considerations for Senior Applicants
One of the most common concerns seniors have is whether their health conditions will prevent them from getting coverage. The short answer is: most health conditions do not disqualify you. Final expense insurance is specifically designed for older adults, and carriers expect applicants to have some health history.
Typically Accepted
These common conditions are generally accepted by most simplified issue carriers:
- High blood pressure (controlled with medication)
- Type 2 diabetes (controlled with oral medication or diet)
- High cholesterol
- Arthritis
- Mild asthma
- Acid reflux or GERD
- History of minor surgeries (knee replacement, cataract surgery, etc.)
Carrier-Specific
This is where our independent, multi-carrier approach is most valuable:
- COPD or emphysema (without supplemental oxygen)
- Heart attack or stroke (more than 12 to 24 months ago)
- Cancer in remission (typically 2+ years)
- Insulin-dependent diabetes
- History of falls or balance issues
- Depression or anxiety (treated with medication)
Guaranteed Acceptance
For more serious conditions, guaranteed acceptance plans provide coverage regardless of health:
- Active cancer or ongoing treatment
- Kidney dialysis
- ALS, Alzheimer's, or dementia
- Confinement to a nursing facility or hospice
- Use of supplemental oxygen
Guaranteed acceptance plans cost more per month than simplified issue plans, and they include a graded benefit period (typically two years) before the full death benefit is available. But they guarantee that no one is turned away. For a detailed comparison, see our page on guaranteed acceptance life insurance.
Side-by-Side Comparison
Simplified Issue vs. Guaranteed Acceptance
The most important distinction for seniors to understand is the difference between these two plan types. Here is how they compare.
| Feature | Simplified Issue | Guaranteed Acceptance |
|---|---|---|
| Health Questions | Short questionnaire (10-15 yes/no questions) | No health questions at all |
| Approval Speed | Same day to 48 hours | Immediate, everyone accepted |
| Coverage Start | Full benefit from day one | Graded benefit (2-year waiting period) |
| Monthly Cost | Lower premiums | Higher premiums |
| Best For | Seniors in fair to good health who can answer health questions favorably | Seniors with serious health conditions or who have been turned down elsewhere |
Asurgo always recommends trying for a simplified issue plan first, because it provides better value. If you do not qualify, we will help you find the best guaranteed acceptance option. Our goal is to get you the most coverage at the lowest cost, whatever your health situation.
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Choosing Your Coverage
How to Choose the Right Coverage Amount
Choosing the right amount of final expense coverage is a personal decision that depends on your financial situation, your family's needs, and what expenses you want to make sure are covered. Here are the most common factors to consider.
Funeral and Burial Costs
The average cost of a funeral in the United States ranges from $7,000 to $12,000, depending on the type of service, location, and whether you choose burial or cremation. A traditional funeral with burial, including a casket, viewing, ceremony, and cemetery plot, typically falls at the higher end of that range. Cremation services are generally less expensive, ranging from $2,000 to $7,000 depending on whether a memorial service is included.
Outstanding Medical Bills
Many seniors have unpaid medical bills at the time of their passing. Without final expense coverage, those bills can fall to your family. Even with Medicare, out-of-pocket costs for hospital stays, prescriptions, and specialist visits can accumulate. A final expense policy ensures those debts do not become your family's responsibility.
Other End-of-Life Expenses
Beyond the funeral and medical bills, there are often other costs your family will need to cover: credit card balances, personal loans, legal fees for settling your estate, travel expenses for family members attending the funeral, and everyday bills that continue after you are gone. Many seniors add an extra $3,000 to $5,000 to their coverage amount to account for these miscellaneous expenses.
The Most Popular Coverage Amounts
Based on our experience helping more than 1,500 families, the most commonly chosen coverage amounts are:
- $10,000: Covers a basic funeral or cremation with some remaining funds for immediate expenses. Popular with seniors on a tight budget.
- $15,000: Covers the average funeral cost and leaves a modest cushion for medical bills or other debts.
- $20,000 to $25,000: Provides full funeral coverage plus meaningful financial support for your family. The most popular range overall.
- $30,000 to $50,000: For seniors who want to cover all end-of-life expenses and leave additional funds for their family. Less common but available from many carriers.
When you contact Asurgo for a quote, your licensed specialist will help you think through these factors and recommend a coverage amount that makes sense for your situation and budget. There is no pressure and no obligation. Our job is to give you clear information so you can make the best decision for your family.
Frequently Asked Questions
What age can you get final expense insurance?
How much does final expense insurance cost at age 70?
Do seniors need a medical exam for final expense insurance?
Do final expense insurance rates increase as you get older?
How much final expense coverage should a senior buy?
How do seniors apply for final expense insurance through Asurgo?
Can a senior be denied final expense coverage?
What happens if my health declines after I buy a final expense policy?
Related Final Expense Topics
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