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How much does Final Expense Insurance cost?

The average final expense insurance policy costs between $25-$75 a month. The rate depends on your sex, age, health, medical history, amount of coverage, and the life insurance company you choose. If you have significant health issues or are over the age of 70 your premium may be higher than average.

final expense life insurance with money

We always recommend a comfortable payment that fits within your budget.


Remember, having some coverage in place is better than having none.

What is Final Expense Insurance?

Final expense insurance is a form of whole life insurance intended to pay for funeral expenses, outstanding debts and medical bills when you die. Another name for it is funeral or burial insurance.

Here are some quick facts about Final Expense policies –

  • It does not expire, it is Whole life insurance
  • Affordable rates – designed for folks on a fixed income
  • Cash value – builds over time; can provide a loan if needed
  • Fixed payments – premiums do not increase
  • Simplified issue – medical exam is not required
  • Fast approvals – typically within 24 hours

$10,000 of Coverage for ages 50-79

**Items to keep in mind as you view the chart.**

  • Actual rates displayed and are subject to underwriting approval

— Rates Never Increase —

AGEFemale
Non-Tobacco
Female
Tobacco
Male
Non-Tobacco
Male
Tobacco
50$24.66$31.28$29.15$36.88
51$25.44$32.23$30.31$38.87
52$25.87$33.74$31.13$40.51
53$26.61$35.30$32.21$42.58
54$27.46$36.65$33.60$44.76
55$28.41$38.31$35.08$47.26
56$29.26$39.56$36.44$49.44
57$30.05$40.71$37.90$51.52
58$30.82$41.85$39.26$53.60
59$31.71$43.11$40.81$56.10
60 $32.86 $44.66 $42.75 $59.01
61 $34.50 $46.95 $45.37 $62.96
62 $36.05 $49.23 $47.91 $67.01
63 $37.71 $51.52 $50.51 $69.53
64 $39.35 $53.70 $53.13 $72.72
65 $41.00 $56.01 $55.75 $76.06
66 $43.43 $59.53 $59.34 $80.53
67 $45.85 $63.06 $62.92 $84.67
68 $48.28 $66.60 $66.52 $89.65
69 $50.80 $70.14 $70.10 $94.64
70$53.23$72.18$73.71$98.31
71$56.62$75.86$78.35$103.97
72$60.11$79.74$82.91$109.94
73$63.92$84.14$88.00$116.71
74$67.77$88.66$93.15$123.65
75$72.42$94.42$99.52$132.48
76$78.24$101.63$106.86$141.32
77$83.50$108.24$113.63$150.57
78$88.43$115.15$119.85$160.01
79$93.42$123.00$126.22$166.64

How your health impacts the cost

Unquestionably, your health and medical history are major factors in qualifying for final expense life insurance coverage.

All insurance companies (except for guaranteed issue policies) will inquire about your health. In addition, most carriers will source the (MIB) Medical Information Bureau and evaluate your prescription records.

This information will help them determine the cost of the final expense insurance policy.

Insurance Carriers underwrite differently

There is a multitude of final expense insurance companies with exclusive underwriting for each. In other words, some health conditions mean more to certain insurance carriers, and some mean less.

For example, some carriers ask if you use insulin for diabetes, and some do not. If you use insulin, it would make sense to align with a company that does not care about insulin use.

How Life Choice Advisors can help

At Life Choice Advisors, we have an 87% success rate helping someone obtain a policy that covers them from day one!

This is possible since we partner with the top rated final expense life insurance carriers. Our experience helps us use the diverse underwriting from these companies to your advantage.

Call us today if you need help with your life insurance policy.