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What Does Final Expense Insurance Cost & How Does it Work?

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Do you get rejected from the traditional life insurance policies? Are you looking into its alternative? It has become hectic nowadays to pick out an insurance policy that is one of a kind, covering the majority of the bills and providing benefit to the policyholder’s family members.

Final expense insurance is a good choice for those customers who need a policy to provide them with the benefits of a regular policy and cover their funeral costs after death.

The Final Cost

Depending on your age, health, wealth, bank statement, and other conditions, a personalized plan is chalked out for you. A contract similar to the one for insurances is drawn for the insurer, and then they decide what sum can be played easily per month. It cannot be less than $30. The type of final insurance you demand, the cost can at times sum around $70.

The Higher Premium

Premium is the sum of money paid to the policyholder until the policy demarcates. For the final insurance, there are three types of premiums.

1- Above 70 years of age

2- Below 70 years of age

3- Middle-aged – elderly below 60 years of age

When you enter the insurance office, the final insurance depends on your age. The higher the age, the more expensive this insurance will be, ranging from $70 to $120. But that also means more incentives and privileges. But if you are a younger person, your premium will be pretty low, ranging from $20 to $50. So it is better to start your final insurance from a young age.

Medical Bills Covered By Final Insurance

Every year the healthcare industry improves its quality, but improved quality means higher amounts to pay. Even a regular surgical procedure costs thousands of dollars which becomes a real burden to afford today’s economy.

Medicaid and Medicare

If we talk about Medicaid and Medicare, it only covers two-thirds of the medical bills. Signing up for these two mentioned policies means making copayments for prescription drugs, emergency care, medical facilities, nursing care, and many more. A smart person will definitely realize that final expense insurance is one of a kind, taking responsibility for any medical expense that comes its way.

Debt of the Policyholder

According to detailed research, 73% of American citizens die in debt. This debt, later on, becomes a big problem for the family members because they become responsible for paying for it. The family members usually look forward to getting the estate or wealth the deceased has left for them, but they go in shock once they realize that so much of it has been sold to pay off the debt.

The best Final Expense insurance pays off the debt related to funeral or cremation arrangements. It may not sound much, but soon a person realizes that it’s not easy affording a funeral and that final expense is a blessing in disguise.

Final Expense Insurance Companies

Below are some of the best final expense insurance companies, but not every company takes care of your burial.

1. Mutual of Omaha

2. Transamerica

3. AIG

4. Gerber Life

5. Americo

6. Liberty Bankers Life

7. American Amicable


It’s one of the best policies out there and quite popular among people who know that funerals will be easy to pay for. After detailed research, it has been guaranteed by many to be at the top of the line.



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