Final Expense Insurance Cost

How much does final expense insurance cost?

Final expense insurance offers fixed premiums that do not change over time. Request a quote from Aflac today.

How are final expense insurance costs determined?

These factors will likely impact the price you’ll pay for a final expense insurance policy:²

Age

As with any life insurance policy, the older you are, the higher your premiums will be. For example, you’ll pay more if you’re 80 than if you’re 60.

Gender

Research shows that women live longer than men. Therefore, your rates might be less if you’re a woman buying a final expense policy.

Health

You’ll need to answer several health questions when you apply for final expense insurance. The better your health is, the more favorable premiums you can expect.

Type of policy

The price you’ll pay for premiums can also depend on the life insurance company and coverage amount you choose.

Smoking habits

Smokers typically have shorter lifespans than non-smokers. If you smoke, you’ll be classified as higher risk and, in turn, pay more for final expense insurance.

Benefits of final expense insurance

Here are some key benefits final expense insurance offers:

Build cash value

Final expense insurance policies often accumulate cash value over time. As the policyholder pays premiums, a portion of that money goes into a cash value account. This grows over time and can be accessed during your lifetime through loans or withdrawals, providing a financial cushion or supplemental income during retirement.

Use the death benefit for any end-of-life expenses

The primary purpose of final expense insurance is to provide a death benefit that can be used to help cover various end-of-life expenses, including funeral costs, burial expenses, medical bills, outstanding debts, and other financial obligations. The payout isn't restricted to specific uses, providing flexibility for beneficiaries.

Level premiums

Final expense insurance typically features level premiums, meaning the amount remains consistent throughout the duration of your policy. This predictability allows policyholders to budget effectively, knowing that their insurance costs won't increase as they age or if their health deteriorates.

No medical exam

Many final expense insurance policies offer simplified underwriting processes that don't require a medical exam. Instead, applicants may only need to answer a few health-related questions on the application. This streamlined approach makes final expense insurance accessible to individuals with pre-existing health conditions or who find the exam inconvenient or invasive.

At what age should you buy final expense insurance?

You can buy a final expense insurance policy at any age. However, these policies are often designed for adults who are 50 to 85 years old.³

Is final expense insurance right for me?

Here are several situations where you may want to consider final expense insurance:

If you want to cover final expenses

You should consider final expense insurance if your primary goal is to help beneficiaries cover final expenses upon your passing. This can help alleviate the financial burden loved ones may face.¹

If you only need a small amount of coverage

Death benefits for final expense policies are typically low. If you only need a small amount of coverage, this type of life insurance may be your best bet.

If you don’t want to take a medical exam

A final expense policy doesn’t usually require a medical exam.¹ All you have to do to apply is answer a few questions about your health. This makes final expense insurance great for those that would prefer to skip the exam, whether you’re in poor health or would feel uncomfortable taking an exam.

Get a quote for Aflac final expense life insurance

Final expense insurance can be worthwhile if you’d like the peace of mind of knowing your end-of-life expenses will be covered should you suddenly pass away. It can allow your loved ones to grieve rather than worry about finances.

Aflac offers final expense whole life insurance you might want to consider. You can enjoy lifelong coverage at reasonable rates and even build cash value. Start chatting with an agent today for a quote or more information.