To come up with examples to use as a basis for comparison, we took advantage of Fidelity Life’s final expense life insurance website to get online quotes, and found that a typical retired 65-year-old woman in excellent health could get $10,000 in final expense insurance for around $56 per month. If you want to get the most value in terms of final expense life insurance, your best bet is shopping around until you find a policy at a reputable company with the lowest possible monthly or annual cost. How much does final expense insurance cost?Īccording to Progressive, final expense life insurance starts at around $53 per month, although rates vary depending on your age and the death benefit your policy offers. So when you’re looking at options, ask about waiting periods and be sure to get a policy that fits your needs.Ĭheck your life insurance rates from multiple insurers now at.

When a policy has a waiting period, your coverage won’t be in force until you pay premiums for a specific amount of time, which could be as long as two years. However, you should make sure you shop around and compare offers from at least three providers before you decide on one.Īlso, in some cases, waiting periods apply to final expense life insurance policies. Since final expense life insurance can stay in force up to the age of 100 or even beyond, this type of insurance can be a good option for older adults and provide some much-needed peace of mind for anyone who wants coverage their family can count on.

Here’s how getting life insurance as a senior could be easier than you think Guaranteed universal life insurance can be an option for people in their 60's looking for a new policy at a lower cost. Other interesting factors to note about final expense life insurance include: These policies can also be referred to as burial insurance or funeral insurance, and are typically offered in lower amounts than traditional life insurance policies. While some opt for more robust policies with large death benefits, a certain type of life insurance - final expense insurance - can be ideal for someone who only needs a small death benefit to cover their final expenses when they pass.Ĭlick here to compare life insurance plans for free at .įinal expense insurance is life insurance that’s designed to cover the costs of your final disposition as well as any funeral or celebratory services that take place. NFDA figures show that even the cost of a funeral with cremation worked out to $6,971 as of last count.īecause the bill for a person’s final expenses is unavoidable, many individuals choose to have a life insurance policy. However, that figure doesn’t include the cost of a vault, opening or closing of the ground or the cost of a headstone, which can easily tack thousands more onto your bill.Īnd, if you hoped to escape these costs by opting for a cremation, that may not save you much. Statistics from the National Funeral Directors Association (NFDA) show that families paid an average of $7,848 for a funeral with burial in recent years. While death is most certainly guaranteed for all of us, the cost of dying isn’t necessarily cheap. We may receive a commission through if you apply and are approved for a policy, but our reporting is always independent and objective. Your CNN account Log in to your CNN accountĬNN Underscored reviews financial products such as credit cards and bank accounts based on their overall value.

Final life expense insurance