Final Expense Insurance

What is final expense life insurance?

Final expense insurance, also referred to as burial insurance or last expense insurance, is a type of permanent life insurance that covers end-of-life expenses including funeral arrangements and any remaining medical or legal expenses that will need to be settled by your beneficiary. This coverage can ensure that your loved ones aren't left with a financial burden.

How much does final expense insurance cost?

Final expense insurance is one of the most affordable types of life insurance — a RAPIDecision® Final Expense policy through eFinancial starts at just $62 per month for coverage ranging from $5,000 to $40,000.^* Plus, the approval process is quick and easy. You may even start your coverage on the same day you apply.

What are the benefits of final expense insurance?

Final expense insurance is an affordable way to ease your family's financial burden once you pass away, providing funds for your funeral, medical bills, and more. Here are some of the advantages:

No medical exam

Certain types of life insurance require a medical exam, but not a burial insurance policy. Unless you have a serious pre-existing medical condition, you'll likely be able to get coverage.

Lower premiums

Final expense life insurance rates start at just $62 per month for policies with coverage amounts ranging from $5,000 to $40,000.^*

Payment flexibility

You get to choose if you want to pay your premium monthly or annually.

Tax-free

The cash payouts are generally tax-free. Always speak with a tax advisor on the implication of specific policy scenarios.

Quick approvals

The application process is quick and easy, and coverage is typically issued the same day you apply. Some applications may take additional days. Once you've been approved, your coverage starts immediately.

Lifetime coverage

Your policy never expires so long as your premiums are paid.

Builds cash value

Final expense policies can build cash value over time. Once the cash value of your policy is high enough, you can withdraw cash from it, use it to borrow money, or even pay your premiums.

What does a final expense policy cover?

A final expense policy payout has the flexibility to be used for anything. They are typically used to cover the costs of:

Funeral arrangements, including embalming, casket, flowers, and services
Burial costs, including cremation, burial plot, headstone, and interment
Outstanding medical, legal, or credit card bills

Who should consider final expense insurance?

Final expense insurance is for individuals who want a low-cost policy that can cover their end-of-life expenses, including funeral and burial services, medical bills, and some outstanding debts, like a credit card. There are no age requirements for purchasing a final expense policy, so you can buy simple, affordable coverage regardless of what stage of life you're in.

How do I get a final expense quote?

Determine your coverage needs: Consider your funeral costs, medical bills, as well as any outstanding debts you want to pay off with your death benefit.
Gather your info: You typically need to provide your name, contact info, and some medical history to get an initial quote.
Quote online or over the phone: You can easily quote final expense life insurance online or call 1-855-627-1882 to speak to a licensed representative who can answer any questions you have.