Costs

How Much Is Final Expense Insurance?

How much is final expense insurance? It depends on your age, health, coverage amount and policy type. Here's what drives price and how to compare quotes.

Reviewed by Brian Carrozzi

Founder, RestAssured · Licensed life insurance agent

Updated October 26, 2026 · How we write and review

Short answer: How much final expense insurance costs depends on your age, your health, how much coverage you buy, and what type of policy you qualify for, so there is no single price. The Texas Department of Insurance says the cost of life insurance “depends on your age, health, and risk factors” and that “rates vary by company.” To find your number, get quotes for the same coverage and compare them side by side.

RestAssured doesn’t publish sample prices, because any number we printed wouldn’t be your price. What we can do is show you what moves the premium up or down, and how to tell whether a quote is a good value.

What is final expense insurance, and how big are the policies?

Final expense (or burial) insurance is small life insurance meant to cover end-of-life costs. Washington’s Office of the Insurance Commissioner describes standard funeral insurance as “life insurance you buy to pay for your funeral or cremation when you pass away,” and says death benefits “are often low, ranging from $5,000 to $25,000.”

The money goes to your beneficiary, who, according to Washington’s insurance commissioner, can use it in any way, including the funeral, medical bills, legal costs or debt. For a refresher on how these policies work, see what final expense insurance is.

Before you shop, it helps to know roughly how much coverage you want. Our guide to how much a funeral costs can help you size the face amount.

What affects the cost of final expense insurance?

Several factors work together. Here’s what primary sources say about each one.

Factor	What the source says	Source
Age	Cost “depends on your age, health, and risk factors”; rates are “usually lower for younger people.”	Texas Department of Insurance
Health	“A company can charge you more if you have health conditions.”	Texas Department of Insurance
Tobacco	A company can charge you more if you “smoke.”	Texas Department of Insurance
Gender	Washington lists “Gender” among the factors insurers base your premium on.	Washington OIC life insurance guide
Coverage amount and features	Your premium also depends on “the amount of coverage and policy features you choose.”	Texas Department of Insurance
How much health information you give	A policy that doesn’t require detailed health information will usually “cost more and provide less coverage.”	NAIC Life Insurance Buyer’s Guide
Policy size	New York’s small-face “pre-need” coverage, bought to pay burial expenses, “often carries a higher premium per $1,000 of coverage than larger size policies.”	New York DFS

One more point from Washington’s insurance commissioner: with funeral-related insurance, “there are no discounts for good health.”

Why do guaranteed issue and graded policies cost more?

The NAIC’s Life Insurance Buyer’s Guide says, “Usually a policy that doesn’t require detailed health information will cost more and provide less coverage than one that does.”

New York’s Department of Financial Services describes senior life insurance, “sometimes referred to as graded death benefit plans,” as minimal whole life coverage for eligible older applicants without a medical examination. Because these policies are issued “with little or no underwriting,” NY DFS says they pay “only for a return of premium or minimum graded benefits if death occurs during a specified period,” which is “generally the first two or three policy years.” In New York, issue ages for this coverage range from 50 to 75, and the maximum issue amount is $25,000.

On price, NY DFS says, “These policies are usually more expensive than a fully underwritten policy if the person qualifies as a standard risk.”

So if you can answer health questions, ask whether you qualify for a policy with a level benefit from day one before settling on a graded or guaranteed issue plan. If a waiting period is your main concern, read our guide to burial insurance with no waiting period.

Can you end up paying more than the policy is worth?

Yes, and it’s worth checking before you buy. Washington’s insurance commissioner lists these cons of funeral-related insurance: “The premiums are usually higher than life insurance” and “What you pay for premiums may cost more than your funeral.”

Washington’s life insurance guide adds, under final expense insurance, that “historically, some of these policies had a very high price compared to the death benefit.” Alaska’s Division of Insurance gives the same warning about burial insurance and advises: “Make sure the amount paid in will not quickly exceed the possible benefit.”

A simple way to check: divide the face amount by your yearly premium. The result is roughly how many years of payments it would take for what you’ve paid in to equal the death benefit. Compare that against your own situation and plans.

How do you compare final expense insurance quotes?

The Texas Department of Insurance says to “get quotes from several companies” and to “compare ‘apples to apples.’” That means making sure “the policies you compare offer similar coverage.” Washington’s guide agrees: “The cost of insurance varies from company to company.”

Here’s how to line quotes up fairly:

Match the face amount. Quote the same coverage amount from each insurer.
Match the benefit type. Don’t compare a level-benefit policy with a graded or return-of-premium policy as if they were the same.
Work out cost per $1,000. Multiply the monthly premium by 12, divide by the face amount, then multiply by 1,000. This shows what you pay each year for every $1,000 of coverage, so different face amounts can be compared.
Check total paid over time. Use the face-amount-divided-by-yearly-premium check above.
Confirm how often you’ll pay. Washington’s guide says that, depending on your arrangement with the insurer, “you can pay premiums on a monthly basis or less often.” Ask whether the total changes with the payment schedule you pick.
Don’t buy on price alone. The Texas Department of Insurance says, “Don’t choose a policy on price alone.”

What questions should you ask before you buy?

Use this checklist with any agent or insurer:

What is the face amount, and is the death benefit level from the first day, graded, or return of premium only?
If benefits are graded, how long does that period last, and what is paid if death happens during it?
Is the premium guaranteed to stay the same for life? The NAIC suggests you “ask what might be the highest premium you’d have to pay to keep your coverage.”
What health questions are on the application, and would answering them qualify me for a lower premium?
Does tobacco use change my rate on this policy?
What’s my yearly premium, and how many years until my total payments equal the death benefit?
Does the price change if I pay monthly, quarterly, or yearly?
How long is the free look period? The NAIC says you can return a new policy for a full refund within a certain period, “usually 10 days after you receive it.”

The NAIC also reminds buyers, “Before you buy a life insurance policy, be sure you can pay the premiums.”

The bottom line

The cost of final expense insurance comes down to your age, health, tobacco use, how much coverage you want, and whether you qualify for a policy that asks health questions. A policy that doesn’t require detailed health information usually costs more and provides less coverage, according to the NAIC. Compare like-for-like quotes, check cost per $1,000, and make sure you won’t pay in more than the policy pays out.

A licensed agent can walk you through your options and quotes. Call (888) 603-7464. Here’s how calling RestAssured works.

RestAssured is not an insurance company or an insurance agency; we connect callers with independently licensed insurance agents.

Frequently asked questions

How much does burial insurance cost per month?

There’s no standard monthly price. The Texas Department of Insurance says cost depends on your age, health, and risk factors, and the amount of coverage and features you choose also matter. A licensed agent can quote your actual monthly premium.

Why is guaranteed issue burial insurance more expensive?

The NAIC’s Life Insurance Buyer’s Guide says a policy that doesn’t require detailed health information will usually cost more and provide less coverage than one that does. New York DFS says graded senior life plans are usually more expensive than a fully underwritten policy if you qualify as a standard risk.

Does smoking raise the cost of final expense insurance?

The Texas Department of Insurance says a company can charge you more if you have health conditions, smoke, or have risky hobbies. Ask each insurer how it treats tobacco use on a final expense policy.

Can I pay more in premiums than the policy pays out?

Yes. Washington’s insurance commissioner says what you pay for premiums may cost more than your funeral, and Alaska’s Division of Insurance advises making sure the amount paid in will not quickly exceed the possible benefit.

How do I compare final expense insurance quotes?

The Texas Department of Insurance says to get quotes from several companies and be sure the policies you compare offer similar coverage. Compare the same face amount, the same benefit type (level or graded), and the total you’d pay over time.

Sources

This article is for general education. Policy features, prices and eligibility vary by insurance company and state; your agent will explain the specific terms of any policy before you apply.