Final Expense Policy Options
Explore the different types of final expense coverage available and find the policy that best fits your health, age, and budget.
Three Types of Final Expense Policies
Your health determines which type of policy is right for you. We'll help you identify the best option during your free consultation.
Level Benefit
Best for Healthy Applicants
The level benefit policy provides the full death benefit from the very first day of coverage. This is the best option for applicants in reasonably good health who can answer a few simplified health questions.
- Full benefit paid from day one
- Lowest monthly premiums
- No medical exam required
- Simplified health questionnaire
- Immediate coverage
- Best value for healthy seniors
- Requires answering health questions
- May be declined for serious conditions
Seniors in good to moderate health, ages 50–80
Graded Benefit
For Moderate Health Conditions
The graded benefit policy is designed for applicants who have some health conditions that may not qualify for a level benefit plan. The death benefit is paid in stages during the first two to three years.
- Available with some health conditions
- Moderate health questions
- Full benefit after graded period
- Permanent coverage
- Premiums never increase
- Partial benefit in years 1–2
- Higher premiums than level benefit
- Waiting period for full benefit
Seniors with managed health conditions, ages 50–80
Guaranteed Issue
No Health Questions Asked
The guaranteed issue policy requires no health questions and no medical exam. Anyone between the ages of 50 and 85 is guaranteed to be accepted. This is the right choice for applicants who have been declined elsewhere.
- No health questions
- No medical exam
- Guaranteed acceptance
- Ages 50–85 qualify
- Permanent whole life coverage
- 2-year waiting period for full benefit
- Highest premiums
- Return of premium + interest if death in year 1–2
Seniors with serious health conditions or prior declines
How Much Coverage Do You Need?
The right coverage amount depends on your anticipated funeral costs and any additional expenses you'd like to cover. Most people choose $10,000–$15,000.
Covers direct cremation or a simple graveside service. Ideal for those who want minimal coverage.
Covers most standard funeral and burial services. The most common coverage amount chosen.
Covers a full funeral service plus provides a buffer for outstanding bills or family expenses.
Provides full funeral coverage plus additional funds for medical bills, debts, or family support.
Maximum coverage for complete peace of mind. Covers all expenses and leaves a legacy for loved ones.
*Estimated monthly premiums for a 65-year-old non-smoker. Actual rates vary by age, health, state, and carrier.
Features of All Final Expense Policies
Whole Life Coverage
Your policy never expires. Coverage lasts your entire lifetime as long as premiums are paid.
Fixed Premiums
Your monthly premium is locked in at application and will never increase, no matter your age or health.
Tax-Free Benefit
The death benefit is paid to your beneficiary completely tax-free, giving them maximum financial protection.
Cash Value Growth
Final expense policies build cash value over time, which you can borrow against if needed.
Not Sure Which Policy Is Right for You?
Our licensed agent will review your situation and recommend the best policy for your health, age, and budget — at no cost or obligation.