What is final expense insurance?
Final expense insurance is generally a smaller permanent life insurance policy intended to help beneficiaries cover funeral costs and other end-of-life expenses.
Common uses
- Funeral and burial expenses
- Outstanding household bills
- Medical balances
- Other expenses chosen by the beneficiary
Important considerations
Coverage amounts, underwriting, premiums, and waiting periods vary. Approval is not guaranteed unless a specific product and state rules support that claim.
Frequently asked questions
Is it the same as burial insurance?
The terms are often used similarly in consumer marketing, but policy details control.
Does it require an exam?
Some products may not require an exam, but health questions or other underwriting may apply.
Can the benefit be used for other expenses?
Beneficiaries generally decide how to use the proceeds, subject to policy and legal considerations.
Is there a waiting period?
Some policies may include a graded or limited benefit period.
Premiums, approval, waiting periods, and benefits vary by age, health, product, and carrier.