Final expense insurance, also known as burial or funeral insurance, is a type of whole life insurance designed to cover end-of-life expenses such as funeral arrangements, remaining medical or legal bills, and other final expenses. It is typically targeted at older individuals who may not have substantial savings or other life insurance coverage to handle these costs, aiming to relieve the financial burden on their loved ones after their passing.

Final Expense insurance covers the costs associated with a person’s funeral, burial, medical bills, and other end-of-life expenses.

The policyholder can designate any individual as the beneficiary. It is important to choose someone trustworthy who will use the funds appropriately. 

Consider factors such as age, health status, and specific needs when choosing a policy. Comparing different options and consulting with a licensed insurance agent can help in making an informed decision.

Final Expense insurance offers lower coverage amounts and is easier to qualify for, focusing specifically on end-of-life costs, whereas traditional life insurance provides broader financial support for beneficiaries.

Most people over 50 are eligible to apply for a Final Expense policy. Typically, no medical exam is required, although some policies may require you to answer a few health questions. Not everyone will qualify for a policy with coverage that begins on day one, especially those with significant health issues. The premiums depend on age and health, and where allowed by state law, they may also depend on gender. Many Final Expense policies have an upper age limit of 85.