Final Expense Insurance
Small whole life policy ($5K-$50K) sized to cover funeral and burial costs.
Full explanation
Final expense insurance is whole life insurance with a small face amount — typically $5,000 to $50,000 — designed to cover funeral, burial, and final medical expenses. It's permanent (never expires as long as premiums are paid) and includes cash value (rarely the reason to buy it). Most policies use simplified-issue underwriting (health questions, no exam) or guaranteed-issue (no questions, with a 2-year graded death benefit). 2026 average funeral with burial costs ~$8,300-$11,500. Buying small permanent coverage at age 55-65 — when underwriting is still favorable — is dramatically cheaper than waiting until 75-85.
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