---
title: What is final expense insurance | Coverfolk
url: https://coverfolk.com/answers/what-is-final-expense-insurance
updated: 2026-10-08
---

# What is final expense insurance?

Updated October 8, 20264 sourcesCoverfolk team[Fact checked](/editorial-standards)

The short answer

Final expense insurance is a small whole life policy meant to pay for your funeral, burial and other end of life bills. It is also called burial insurance or senior life insurance.

These policies are small. Guaranteed issue versions can start around $2,000, and many cap out around $25,000 to $50,000.

They are usually sold to people over 50. Many people buy them so their family does not have to pay for the funeral.

Some final expense plans ask a few health questions. Others ask none at all. Those are called guaranteed issue.

Plans with no health questions often have a waiting period. If you die of natural causes in the first years, your family may only get back what you paid.

The money goes to the person you name. They can use it for the funeral or any other bill.

* Small whole life policy
* Often sold to people 50 and older
* Pays for funeral and final bills
* Some have a waiting period

## More questions

### How much should I get?

Look at funeral costs near you. The national median for a funeral with viewing and burial was $8,300 in 2023.

### Does the price go up as I age?

Most of these are whole life policies, so the price usually stays the same once you buy.

### Do I need a medical exam?

Usually no. Many ask only a few health questions, and some ask none.

## Words to know

[Final expense](/glossary)
:   A small policy, also called a burial policy, that covers or prepays funeral costs.

[Guaranteed issue](/glossary)
:   A policy for people with health issues who may not qualify for other coverage. Very few people are turned down.

[Whole life](/glossary)
:   Permanent insurance that lasts your whole life as long as you pay. Premiums, death benefit, and cash value are guaranteed.

## Sources

1. [Different Types of Life Insurance and How to Choose (NerdWallet)](https://www.nerdwallet.com/insurance/life/learn/types-of-life-insurance)
2. [Guaranteed Issue Life Insurance: Is It Worth It? (NerdWallet)](https://www.nerdwallet.com/insurance/life/learn/guaranteed-issue-life-insurance)
3. [Life Insurance Guide (Washington Office of the Insurance Commissioner)](https://www.insurance.wa.gov/sites/default/files/2025-03/life-insurance-guide.pdf)
4. [2023 NFDA General Price List Study Shows Inflation Increasing Faster than the Cost of a Funeral (NFDA)](https://content.nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral)