Final Expense Insurance: What You Need to Know

Final expense insurance—also called burial insurance—is a type of whole life insurance designed to cover end-of-life expenses such as funeral costs, medical bills, and outstanding debts. With the average funeral now costing between $7,000 and $12,000, having a final expense policy helps ensure your loved ones aren’t left with unexpected financial stress during an already emotional time.

What Is Final Expense Insurance?

Final expense insurance is a permanent life insurance policy with smaller coverage amounts, typically ranging from $5,000 to $50,000. These policies are designed specifically to cover funeral costs, cremation, burial, memorial services, medical bills, and any remaining personal obligations.

Because this is a form of whole life insurance, coverage does not expire as long as premiums are paid.

Why Should You Have Final Expense Insurance?

Many people believe their savings, existing life insurance, or family resources will be enough to handle funeral costs. Unfortunately, that’s not always the case—especially for families on a fixed income.

• ✅ Whole Life Coverage – Your policy never expires.
• ✅ Fixed Premiums – Your rate never increases.
• ✅ Guaranteed Death Benefit – Your coverage amount never decreases.
• ✅ Same-Day Coverage – Many plans offer immediate protection.
• ✅ No Medical Exam – Just simple health questions.

Who Is Final Expense Insurance For?

• Seniors who want to ensure their family isn’t left with financial stress.
• Individuals with limited or no savings set aside for funeral costs.
• Those looking for an easy, affordable way to leave a financial legacy.
• People who may not qualify for traditional life insurance due to health issues.

Beware of the $9.95 Gimmick

If you’ve watched late-night TV, you’ve likely seen ads promoting burial insurance for just $9.95 per month. While it sounds appealing, these policies often come with major limitations.

• ❌ Coverage is extremely low (sometimes under $1,000).
• ❌ There is often a 2-year waiting period before full benefits are paid.
• ❌ Premiums over time can cost far more than a properly structured final expense policy.

At O'Rourke Life & Retirement, we help clients avoid these traps and find full-coverage options with same-day approval and no two-year waiting period when health allows.

Why Guaranteed Issue Isn’t Always the Best Option

Guaranteed issue policies accept everyone, regardless of health—but that convenience comes at a cost.

• ✔️ Guaranteed Issue Policies – Easier approval, but higher premiums and long waiting periods.
• ✔️ Level Benefit Policies – Immediate full coverage, lower premiums, and no waiting period for most applicants.

In most cases, qualifying for a level benefit plan provides better protection at a lower long-term cost.

We Offer Multiple Carriers for the Best Coverage

Unlike one-size-fits-all insurance companies, we work with several top-rated carriers that specialize in different health conditions. This allows us to:

• ✅ Evaluate your health and age
• ✅ Match you with the most flexible insurance companies
• ✅ Secure the highest coverage at the lowest available cost

Many People Overpay or Have the Wrong Coverage

Studies show that nearly 7 out of 10 people either overpay for their coverage or have the wrong type of policy altogether. That’s why we offer a free policy review—to make sure your coverage actually matches your goals.

Final Expense Insurance Made Easy

1. 1️⃣ No medical exam required
2. 2️⃣ Simple application (usually under 30 minutes)
3. 3️⃣ Instant approval in many cases

With O'Rourke Life & Retirement, you never have to navigate this process alone. We work directly with top-rated carriers to deliver coverage that’s simple, affordable, and reliable.

Written by Greg O'Rourke, a multi-state independent licensed Life, Health, and Annuities agent.
O'Rourke Life & Retirement | GoInsureYou.com