Life Insurance
How much does final expense insurance cost?
Final expense insurance premiums depend on age, gender, health, and coverage amount. Approximate monthly premiums for $10,000 in coverage: Age 60 female: $30–$45/month; Age 60 male: $40–$55/month; Age 70 female: $50–$70/month; Age 70 male: $65–$90/month; Age 80 female: $90–$120/month; Age 80 male: $110–$150/month. Guaranteed issue (no health questions) costs 20–40% more than simplified issue.
Key Points
- $10,000 coverage for a 65-year-old: approximately $40–$70/month
- Women pay 20–30% less than men for the same coverage
- Guaranteed issue costs 20–40% more than simplified issue
- Premiums are fixed for life — no rate increases after issue
- Coverage amount should match expected funeral and final expense costs
- Average funeral cost in 2026: $7,000–$12,000