Final Expense Insurance Cost

Final expense insurance pays a death benefit that can help your loved ones cover your end-of-life expenses, such as funeral costs and medical bills.¹ It’s typically less expensive than other policies because the death benefit is smaller, especially if you’re younger and in good health. Aflac offers final expense whole life insurance coverage that can help give you peace of mind. Read on to learn how final expense insurance works and how much it costs.

2 Min Read

Table of Contents

Key Takeaways

The average cost of a $10,000 final expense insurance policy is $74 per month or $888 per year for policyholders over 60.²
Final expense insurance costs vary depending on the value of the death benefit and the policyholder’s age, gender, and location.
Aflac offers final expense whole life insurance with reasonable premiums that can fit most budgets.

How final expense insurance works

Also known as burial or funeral insurance, final expense insurance is designed to help pay for final expenses your family may face upon your passing. These might include burial and funeral costs, medical bills, and in-home care.¹

Compared to traditional life insurance policies, final expense insurance usually features a smaller death benefit. As a result, this policy can be a more reasonable option. Aflac is pleased to offer final expense insurance at those rates.

How much does final expense insurance cost?

Final expense insurance offers fixed premiums that do not change over time. The average cost of a $10,000 policy for people over 60 is $74 per month or $888 per year.²

What factors impact final expense insurance costs?

These factors will likely impact the price you’ll pay for a final expense insurance policy:²

Age: As with any life insurance policy, the older you are, the higher your premiums will be.
Gender: Women typically live longer than men. Therefore, life insurance rates tend to be lower for women since they're more likely to pay them for a longer time.
Health: You'll typically fill out a health questionnaire when you apply for final expense insurance. The better your health is, the more favorable premiums you can expect.
Coverage: The price you'll pay for premiums can also depend on the life insurance company and coverage amount you choose.
Smoking habits: Smokers typically have shorter lifespans than non-smokers. If you smoke, you'll be classified as higher risk and pay more for final expense insurance.

Peace of mind doesn't have to break the bank

Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.

Get Started

Benefits of final expense insurance

Here are some key benefits final expense insurance offers:

Build cash value

Final expense insurance policies often accumulate cash value over time. As the policyholder pays premiums, a portion of that money goes into a cash value account. This grows over time and can be accessed during your lifetime through loans or withdrawals, providing a financial cushion or supplemental income during retirement.

Use the death benefit for any end-of-life expenses

The primary purpose of final expense insurance is to provide a death benefit that can be used to help cover various end-of-life expenses, including funeral costs, burial expenses, medical bills, outstanding debts, and other financial obligations. The payout isn't restricted to specific uses, providing flexibility for beneficiaries.

Level premiums

Final expense insurance typically features level premiums, meaning the amount remains consistent throughout the duration of your policy. This predictability allows policyholders to budget effectively, knowing that their insurance costs won't increase as they age or if their health deteriorates.

No medical exam

Many final expense insurance policies offer simplified underwriting processes that don't require a medical exam. Instead, applicants may only need to answer a few health-related questions on the application. This streamlined approach makes final expense insurance accessible to individuals with pre-existing health conditions or who find the exam inconvenient or invasive.

When should you get final expense insurance?

You can buy a final expense insurance policy at any age. However, these policies are often designed for adults who are 50 to 85 years old.³ You might consider final expense insurance if:

You don’t have end-of-life savings

If you haven’t budgeted for your own end-of-life costs, you may want to help beneficiaries cover your final expenses upon your passing. This can help alleviate the financial burden loved ones may face.¹

You don't need a substantial death benefit

Death benefits for final expense policies are typically low. If you only need a small amount of coverage, either due to personal savings or a separate, larger life insurance policy, final expense insurance can provide an additional buffer to cover specific costs.

You don’t want to take a medical exam

A final expense policy doesn’t usually require a medical exam.¹ Instead, you must answer a few questions about your health. This makes final expense insurance great for those who would prefer to skip the medical exam.

Get a quote for Aflac final expense life insurance

Final expense insurance can be worthwhile if you’d like the peace of mind of knowing your end-of-life expenses will be covered should you suddenly pass away. It can allow your loved ones to focus more on grieving rather than finances. Aflac offers final expense whole life insurance with reasonable premiums to support your end-of-life planning. You can get a policy directly from Aflac. Chat with an agent today for a quote or more information.

Get Started

I would like to...

Speak to an Agent

Quote & Apply Online

Notifications from Aflac

Individuals & Families

Business Owners

Agents

Brokers