Final Expense Insurance in 2024: Your Complete Guide

Final Expense Insurance in 2024: Your Complete Guide

Final expense insurance in 2024 is easier than ever with this complete guide!

Planning for the future means considering how to protect your loved ones from the stress and financial strain of end-of-life expenses. ‘Whole life insurance for final expenses’ is a thoughtful choice for anyone looking to provide this security. Unlike term life policies, ‘final expense insurance plans’ are designed to offer lifelong peace of mind, with coverage tailored to fit a variety of budgets and needs.

How Final Expense Insurance Stands Apart

When we compare ‘final expense policies to traditional life insurance’, the differences are clear. These plans are crafted with the specific aim of covering your funeral costs and minor debts, hence the typically lower death benefits. This specialization makes ‘senior-friendly final expense insurance’ both accessible and budget-friendly, especially for those in their golden years or dealing with health concerns

Choosing the Right Final Expense Policy for You

Selecting the best ‘final expense life insurance policy’ means aligning it with your financial situation and coverage needs. It’s about striking a balance—finding a policy with the necessary coverage at a cost that won’t upset your current lifestyle. For guidance tailored to your unique situation, ‘consulting a final expense insurance expert’ can lead you to the most fitting coverage options.

Understanding the Costs of Final Expense Insurance

Final expense insurance rates are determined by age, health and lifestyle. Your age coupled with your rate class will determine the rate your policy premiums are locked in at.

Understanding and Determining The Proper Rate Class

Rate class is broken down into several different categories.

Preferred/level- this rate class offers the highest coverage amounts and most affordable rates, it is day 1 coverage with no waiting period. Preferred level rates are offered to those who are in good health.

Standard- this rate class offers day 1 coverage, slightly lower coverage amounts, and modestly higher rates than preferred or level. This is offered to people who have some medical conditions outside of what the insurers deem as high risk.

Graded- this offers similar coverage amounts as standard at a higher rate and pays out a percentage of the policy if death occurs in the first 2 year. This is offered to people with high risk health conditions.

Guaranteed Issue/Acceptance- offers guaranteed acceptance with no medical questions, contains a 2 year waiting period with premiums plus 10% interest returned. This is offered to people who have a high risk of death within a 5 year period.

Understanding The Different Types of Funeral and Burial Services

Understanding the different types and average costs of services like traditional full-service burial, full-service cremation, affordable burial, and direct cremation is essential.

Traditional Full Service Burial

A traditional full service burial covers all the essentials: from the funeral home’s basic fee, body embalming and preparation, to hosting a viewing or wake.

what it includes

  1. includes a ceremony at a church or funeral home
  2. a procession
  3. a graveside service with a casket provided.

Full Service Cremation

Full service cremation offers all fundamental cremation procedures.

What it includes

  1. viewing or wake before the funeral,
  2. a service at a church or funeral home,
  3. a standard casket, with ashes returned to the family, unless an urn is bought separately.

Affordable Burial

Also known as Immediate or Direct Burial, this option involves burying the body without embalming, viewing, or services.

What it includes

  1. basic service fees
  2. transport of the body to the cemetery
  3. cost of a basic casket.

Direct Cremation

Direct cremation is a very direct service as the name entails

What it includes:

  1. the body’s removal at the time of death
  2. transport to the crematory
  3. the actual cremation, without any additional services.
  4. An alternative cremation container is used unless an urn is purchased.

National Average Cost of All Funeral Service Types

Service TypeLow CostHigh CostAverage Cost
Traditional Full Service Burial$4,850$21,475$8,555
Full Service Cremation$2,555$19,300$6,220
Affordable Burial$2,830$11,800$5,114
Direct Cremation$275$9,800$2,185
National Average Cost of All Funeral Service Types

What To Look For in a Burial Insurance Company

  • Immediate Coverage
  • Permanent Coverage that does not expire
  • Set Rates
  • A Level Death Benefit
  • Simplified Issue, no need to require a medical exam
  • A reputable company who will pay the full death benefit

Who Are The Top Rated Funeral Insurance Companies?

Top Rated Insurance Company- SBLI

SBLI (The Savings Bank Mutual Life Insurance Company)- Best Value

  • A National Complaint Index score of 0.12 well below the average national average of 1.0
  • Instant Decision Application
  • Competitive rates
  • Policy in hand within 30 minutes of Applying
  • The Sequoia Funeral Concierge Plan
  • Founded in 1907 – Established and Secure
Final expense insurance in 2024

The Sequoia Funeral Concierge Plan

The Sequoia Funeral Concierge Plan is a nationwide funeral planning and concierge program, powered by NASER Global, offered as a complimentary service with every SBLI Living Legacy™ Final Expense Plan.

What It Is

The service is designed to help you and your family make more informed decisions, about all aspects involving funeral related issues and convert your last wishes into reality, in accordance with your budget or resources. When help is needed, it simplifies the funeral process, offering the fastest and most efficient solution to act on behalf of your family, and helps to reduce emotional and financial stress.

Key Benefits To Final Expense Insurance

  • Personalized Service: Step-by-step 24/7 guidance is provided to your family throughout the funeral process.
  • Discounted Prices: Discounted and special pricing on funeral services is available for all members.
  • Global Network: Offers the largest worldwide funeral network in the industry with new providers being added every year.
  • Extended Protection: Up to a total of 10 family members can be included under the Funeral Concierge Plan.
  • Nationwide & International Support: State to state and country to country funeral transfer support is provided, including all necessary legal documentation for transportation at discounted prices.
Top Rated Insurance Company-American Amicable


  • Immediate Coverage up to $50,000
  • Simplified Issues -No Medical Exam
  • Competitive rates
  • Decision Can Be Instant
  • Wide Range of Available Riders – Grandchildren’s Insurance Agreement, Terminal Illness, Accidental Death Benefit, Children’s Insurance Agreement, Nursing Home Waiver of Premium, and Confined Care
  • Founded in 1910-Well Established
Top Rated Insurance Company-Royal Neighbors of America

Royal Neighbors of America – Competitive & Immediate Coverage for Common Conditions

  • Coverage amounts up to 40k
  • Competitive rates
  • Simplified Issue
  • Charitable Giving Rider- optional rider to leave to the death benefit to charity of your choice
  • offers immediate coverage to those with diabetesdiabetic neuropathy, COPD, atrial fibrillation (Afib), asthma, Home Health Care, hepatitis C and other common serious illnesses.
  • Established in 1895

CICA Life – Immediate coverage for very serious health conditions

  • Offers immediate coverage for those suffering from serious chronic conditions

such as: uncontrolled high blood pressure, uncontrolled diabetes, congestive heart failure (CHF), cardiomyopathy, end stage kidney disease, liver-disease, pacemaker/defibrillator implant, COPD, Paralysis,


• Can I get immediate coverage or will there be a waiting period? Most people qualify for immediate coverage with no waiting period even with common serious health conditions such as COPD, heart conditions, cancer, and Diabetes.

• Can I get life insurance with no medical exam? Yes, you can. A medical exam is not required.

• Is funeral insurance necessary? Yes, especially for those who want to ensure their funeral costs are not a burden to their families.

• What does final expense insurance cover? It typically covers funeral expenses, burial costs, and may help in paying off minor debts.

• How to apply for final expense insurance? It is best to obtain life insurance through an licensed independent agent. They know which carriers will suit you and which ones to avoid based on your specific health and lifestyle. This can result in you savings thousands of dollars over the period of the life of the policy and avoid any delays or denials.

Get The Best Burial Insurance With No Waiting Period- Call 848-288-5968! or Contact us Today!