How Much Does Final Expense Insurance Cost?
The short answer
Final expense insurance usually costs less than a large term or whole life policy because the coverage amount is smaller, often $5,000 to $50,000. Your actual monthly price is set by the carrier based on your age, gender, tobacco use, health answers and the coverage amount you choose.
Age is the biggest factor
Premiums rise with each birthday, and most final expense policies lock in your price for life once issued. That is why applying in your 50s or 60s typically costs less per month than waiting until your 70s.
Health answers decide the plan type
Carriers ask a short list of health questions. Clean answers can qualify you for a day-one (immediate) benefit at the lowest price. Recent serious conditions may lead to a graded or guaranteed-issue plan, which costs more and has a waiting period.
Coverage amount and tobacco
A $20,000 policy costs roughly twice as much as a $10,000 policy with the same carrier. Tobacco users generally pay noticeably more than non-users.
Why comparing carriers lowers the price
Each carrier prices ages and health conditions differently. An independent agent can compare several carriers at once so you see the lowest price you actually qualify for, not an online average.
Novus Life Solutions · Joe Cardenas, licensed life insurance agent (NPN 21747963) serving 22 states · Phone (951) 540-0347 · joe@novuslifesolution.com
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