Final Expense Insurance Monthly Cost: What Most People Really Pay

Final expense insurance (often called burial insurance or funeral insurance) is designed to cover end-of-life costs like a funeral, burial or cremation, and small remaining bills. One of the first questions people ask is:

“How much does final expense insurance cost per month?”

The honest answer: most people pay somewhere between about $20 and $150 per month, but where you land in that range depends on your age, health, coverage amount, and a few other factors.

This guide breaks down what affects your price, typical monthly premiums by age, and how to estimate what you might pay—so you can choose coverage with confidence.

What Is Final Expense Insurance, Briefly?

Before talking numbers, it helps to be clear on what you’re buying.

Final expense insurance is usually:

• A type of whole life insurance
• Designed for smaller coverage amounts (often $5,000–$25,000)
• Intended to help pay for funeral costs, burial or cremation, and small debts

Key features consumers often see:

• Level premiums for life (your monthly price is typically locked in once approved)
• Coverage for life as long as premiums are paid
• Simplified underwriting (often with no medical exam, just health questions)

Because coverage amounts are smaller than traditional life insurance, the monthly cost is usually more affordable, especially if you apply at a younger age or in relatively good health.

Typical Monthly Cost Ranges for Final Expense Insurance

Final expense insurance prices vary by company, but many consumers find that for $10,000–$15,000 of coverage:

• Younger, healthier applicants may pay closer to $20–$40 per month
• Older applicants or those with health issues may see $60–$150+ per month

Here’s a general, simplified overview of common monthly premium ranges for non-smokers buying about $10,000 of coverage:

*These are illustrative ranges, not quotes. Actual premiums vary by insurer, state, health, gender, and tobacco use.

If you double the coverage (for example from $10,000 to $20,000), your premium doesn’t always double exactly, but it usually increases significantly—expect noticeably higher but still predictable monthly costs.

What Factors Affect Your Monthly Final Expense Insurance Cost?

Several key factors determine how much final expense insurance costs per month for you personally.

1. Age

Age is one of the biggest drivers of price.

• The younger you are when you apply, the lower your monthly premium is likely to be.
• As you age, the cost per $1,000 of coverage generally increases each year you delay.

Because most final expense plans are whole life policies, your premium is usually set at the age you buy and stays the same after that. That’s why many people choose to buy in their 50s or early 60s, when it’s often more affordable.

2. Coverage Amount (Death Benefit)

The more coverage you choose, the higher your monthly cost.

Common final expense coverage amounts:

• $5,000–$10,000: Often purchased to help with basic cremation or modest funeral costs.
• $10,000–$20,000: A common range for a traditional funeral and burial plus some final bills.
• $25,000+: Chosen by those who want extra funds for debts, a small legacy, or more elaborate services.

A 65-year-old may find:

• $5,000 of coverage is meaningfully cheaper per month than
• $20,000 of coverage at the same age and health status

When budgeting, it’s helpful to estimate your likely final expenses (funeral, burial or cremation, small debts) and select a coverage amount that fits both your needs and your monthly budget.

3. Health and Underwriting Type

Final expense insurance often comes in two broad categories:

a) Simplified Issue (Health Questions, No Exam)

• Involves answering health questions, but usually no medical exam
• Applicants who are reasonably healthy—or with manageable conditions—may qualify
• Typically offers better rates than guaranteed issue policies

Consumers who can say “no” to certain serious conditions or hospitalizations often pay noticeably lower premiums than those who cannot.

b) Guaranteed Issue (No Health Questions)

• No health questions, no medical exam
• Often available to older ages or those who have difficulty qualifying elsewhere
• Almost everyone in the eligible age range is approved

Because the insurer takes on higher risk, monthly premiums are higher than for simplified issue policies, and benefits are often smaller.

Many guaranteed issue plans also include a graded benefit period (for example, limited payout if death occurs from natural causes in the first few years). This is important to understand when considering cost vs. protection.

4. Tobacco Use

People who use tobacco generally pay higher premiums than non-tobacco users:

• A smoker might pay significantly more per month than a non-smoker of the same age, gender, and coverage amount.
• Even so, many final expense plans do accept tobacco users; the main difference is the price, not necessarily eligibility.

If you’ve quit for a certain period, some insurers may consider you a non-tobacco user, which can substantially reduce your monthly cost.

5. Gender

In many life insurance products, women often receive slightly lower rates than men of the same age, health, and coverage amount. This is due to general life expectancy patterns.

This difference isn’t always huge on a monthly basis, but over the life of the policy, it can add up.

6. State and Company

Prices can vary:

• From state to state
• Between different insurance companies
• Based on how each insurer evaluates risk

Even with the same age, health profile, and coverage amount, one person might see a noticeable difference between quotes from different insurers.

How to Estimate Your Own Final Expense Monthly Cost

You don’t need an exact quote to get a rough idea of what you might pay. You can estimate your range using this simple process:

Step 1: Choose a Coverage Amount

Ask yourself:

• Do I want to cover cremation only or a full funeral and burial?
• Are there small debts, medical bills, or legal costs I’d like to help with?
• Do I want to leave a small gift to a loved one or charity?

Many people choose:

• $10,000–$15,000 if they want to cover a basic funeral and not much more
• $20,000 or more if they want to include some extra cushion for bills or a small legacy

Step 2: Place Yourself in an Age & Health Category

Rough guide:

• Younger than 60 and reasonably healthy: You may find lower ranges of typical premiums.
• 60–75 with some controlled health conditions: Expect mid-range costs, depending on your answers to health questions.
• Over 75 or with significant health issues: Expect higher monthly premiums, especially if you need guaranteed issue coverage.

Step 3: Use a Rough Rule of Thumb

For many people (non-smoker, average health, simplified issue policy):

• Around age 55–65, $10,000 of coverage might sometimes fall in the $25–$60/month range.
• Around age 70–80, the same $10,000 might be more like $40–$120/month, depending on health.

These are very broad estimates, but they can help you set expectations before you see actual quotes.

Term vs. Whole Life for Final Expenses (Why It Matters for Cost)

Some people consider using term life insurance instead of a traditional final expense whole life policy. While term can sometimes be cheaper per month for larger coverage, it works differently.

Final Expense (Whole Life) Characteristics

• Coverage lasts for life (as long as premiums are paid)
• Premiums typically stay level
• Often available in smaller amounts ($5,000–$25,000)
• Usually more flexible on health than many term policies for older adults

Term Life Characteristics

• Coverage lasts for a set term (e.g., 10, 20, 30 years)
• Can be more affordable for younger, healthier people for larger face amounts
• May expire before you die, leaving no payout if you outlive the term
• Health and age requirements can be stricter, especially at older ages

For someone specifically trying to cover funeral and burial costs whenever they occur, whole life–based final expense insurance is often chosen because:

• It doesn’t expire at a certain age
• The final expense need is certain, only the timing is unknown

The trade-off: whole life has higher monthly premiums per $1,000 of coverage than term life at younger ages—but it’s designed to be there no matter how long you live.

Ways to Keep Final Expense Insurance More Affordable

If you’re worried about cost, there are several practical ways to manage your monthly premium:

1. Start Sooner Rather Than Later

Because age is a major cost factor:

• Buying now instead of later usually locks in a lower lifetime premium.
• Even a smaller policy today can be more affordable than waiting several years and needing to pay higher age-based rates.

2. Choose a Realistic Coverage Amount

Consider:

• Your current budget
• Your actual end-of-life needs
• What other resources (savings, prepaid funeral arrangements, other life insurance) you may have

⭐ Tip: Many people find that a “middle ground”—such as $10,000–$15,000—strikes a good balance between meaningful protection and a manageable monthly cost.

3. Compare Different Policy Types

If you can pass health questions:

• Simplified issue final expense plans usually offer lower monthly premiums than guaranteed issue.
• If guaranteed issue is your only option, consider a slightly smaller benefit that you can comfortably afford.

4. Review Tobacco Use Categories

If you’ve stopped using tobacco:

• Ask how long you need to be tobacco-free before qualifying as a non-tobacco user.
• Being rated as a non-tobacco user often reduces your monthly cost.

Is Final Expense Insurance Worth the Monthly Cost?

Whether final expense insurance is “worth it” depends on your overall situation, but here are some common considerations:

Reasons some people find it worthwhile:

• They don’t want to leave funeral costs to family members
• They have limited savings and want a guaranteed way to cover final expenses
• They prefer a small, predictable monthly payment over trying to save a lump sum over time
• They like that these policies are often simple to understand and easy for beneficiaries to use

Potential downsides to consider:

• If you pay premiums for many years, the total amount paid could approach or even exceed the benefit in some cases.
• People who already have significant savings or other life insurance might not need an additional policy solely for burial.
• Guaranteed issue policies can be expensive per $1,000 of coverage, especially at older ages.

A useful personal test:

• Ask yourself: “If I died tomorrow, how would my final expenses be paid?”
• If the answer is unclear or would place a burden on family, final expense insurance may be worth considering, provided the monthly cost fits your budget.

Quick Takeaways: What to Expect Per Month

To summarize the monthly cost of final expense insurance:

• Most people pay between about $20 and $150 per month for coverage, depending on age, health, tobacco use, and coverage amount.
• Younger, healthier non-smokers buying around $10,000 of coverage often land in the $20–$60/month range.
• Older applicants or those with serious health issues may see $60–$150+ per month, especially if they need guaranteed issue coverage.
• Costs increase with age and coverage amount, but usually remain level for life once your policy is issued.
• Choosing the right combination of coverage amount, policy type, and timing can help keep your premium affordable and sustainable.

When you’re ready for exact numbers, getting a few personalized quotes based on your age, location, and health situation is the most reliable way to find out what final expense insurance will cost you per month.