How Much Does Final Expense Insurance Cost?

There is no single price for final expense insurance. Your premium depends on your age, sex, health answers, tobacco use, the coverage amount, and the type of policy. As one real example, AAA Life publishes a price of $23 a month for a $5,000 guaranteed issue policy for a 60-year-old woman who is an AAA member paying automatically (AAA Life, checked September 2026). Your price could be higher or lower.

This article explains each factor that drives the price, shows a few prices that carriers publish themselves, and covers how to keep your premium manageable.

Factors That Affect Your Premium

Your Age

Age is usually the biggest factor. The younger you are when you apply, the less you pay each month for the same amount of coverage.

On most final expense policies, the premium is set when the policy starts and does not rise as you age. So buying earlier usually means a lower monthly price for as long as you keep the policy.

Your Health

Most final expense policies use simplified underwriting. Instead of a medical exam, you answer a short list of health questions. Your answers decide which type of policy and which price level you qualify for.

Common health questions cover topics like:

  • Have you been diagnosed with cancer, heart disease, or other serious conditions?
  • Have you been hospitalized recently?
  • Do you use oxygen or a wheelchair?
  • Are you currently in a nursing home or assisted living facility?

If your health is relatively good, you may qualify for a level benefit policy at standard or preferred rates. If you have more serious health issues, you may qualify for a graded plan at a higher price, or you might consider a guaranteed issue policy.

Your Sex

Rates are priced separately for men and women. In the carrier examples below, the man's price is higher than the woman's for the same coverage and age.

Tobacco Use

If you smoke or use other tobacco or nicotine products, you will usually pay more. Some companies also require you to be tobacco-free for a set time before they give non-tobacco rates. Ask each company how it defines tobacco use.

Coverage Amount

Final expense policies are small. In 2024, the average simplified issue final expense policy had a face amount of $14,535, and the average guaranteed issue policy was $9,786 (LIMRA, 2025). The more coverage you choose, the higher the premium.

Policy Type

  • Level benefit (simplified issue): health questions, full benefit from day one, and usually the lowest price for your age.
  • Graded benefit: for people with more health history. It costs more and pays a reduced benefit for natural deaths in the first two or three years.
  • Guaranteed issue: no health questions. It usually costs the most per dollar of coverage and has a limited benefit for the first two years.

Prices Carriers Publish

Most carriers do not post prices, because the answer depends on your age and health. A few publish examples for their guaranteed issue policies. These are each one carrier's example, not market averages:

| Carrier and policy | Example published | Monthly premium | |---|---|---| | AAA Life, Guaranteed Issue Whole Life | Female, age 60, $5,000, AAA member, automatic payment | $23 | | Corebridge Direct, Guaranteed Issue Whole Life | Female, age 50, $5,000 | $22 | | Corebridge Direct, Guaranteed Issue Whole Life | Male, age 50, $5,000 | $32 |

Source: each carrier's website, checked September 2026. Older ages and larger coverage amounts cost more. If you can qualify for a simplified issue policy, the price for the same coverage is usually lower than guaranteed issue.

How to Get the Best Rate

Compare Multiple Companies

Different insurance carriers set their own rates, and they can vary a lot for the same person. One company might be priced well for someone with diabetes, while another is better for someone in good health. A licensed agent who represents several carriers can compare them for you.

Apply While You Are Healthy

If you are considering final expense insurance, applying sooner usually helps. A change in your health later could raise your price or limit you to a graded or guaranteed issue plan.

Choose the Right Coverage Amount

You do not need to over-insure. Think about what expenses you want to cover. The median cost of a funeral with a viewing and cremation was $6,280 in 2023, and with a viewing and burial it was $8,300, before cemetery costs (NFDA, 2023). Your own plans and local prices may be higher or lower.

A licensed agent can help you estimate the costs in your area and choose an appropriate coverage amount. See how much final expense insurance you need for a simple way to add it up.

Ask About Preferred Rates and Payment Discounts

Some carriers offer preferred rates for applicants in very good health, and some price differently for automatic bank payments (AAA Life's example above assumes automatic payment). Ask what applies to you.

Guaranteed Issue Costs More

If you have significant health issues and cannot qualify for a simplified issue policy, guaranteed issue final expense insurance is still available within its age range. However, expect to pay more for the same coverage, because the insurance company is accepting you without any health information.

Guaranteed issue policies usually have a limited benefit for the first two years. If the insured dies of natural causes in that window, the beneficiary typically gets the premiums paid back plus some extra. For example, AAA Life pays premiums plus 30%, and Corebridge Direct pays 110% to 120% of premiums (both checked September 2026). Accidental deaths are usually covered in full from day one. Read more in guaranteed issue life insurance explained.

Is Final Expense Insurance Affordable on a Fixed Income?

That depends on your budget and the coverage you need. A few things help with affordability:

  • Level premiums. On most final expense whole life policies, the amount you pay when you start is the amount you pay for life. Confirm this before you buy.
  • You can choose a smaller policy. Less coverage means a lower premium.
  • Payment method. Some companies price automatic bank draft differently than a mailed bill.

Choose a premium you can keep paying. A smaller policy that stays in force helps your family more than a bigger one that lapses.

What Happens If You Stop Paying?

If you stop paying premiums, policies have a grace period during which coverage stays active; the length is written in the policy. After that, the policy may lapse.

Because final expense insurance is a form of whole life insurance, it builds a small cash value over time. Depending on the policy, that value may be used to keep some coverage in force, for example through a reduced paid-up option that lowers the death benefit but stops further payments. Ask about these options before you buy.

Getting an Accurate Quote

The only way to know exactly what you would pay is to get a quote based on your age, health, and coverage needs. You can answer a few short questions to see your options, and a licensed agent can walk you through plans in your state.

The Bottom Line

Final expense insurance prices depend on your age, sex, health, tobacco use, coverage amount, and policy type. Carrier examples like AAA Life's $23 a month for $5,000 (female, 60) give a sense of scale, but your own quote is the only number that counts. The sooner you apply, the lower your price usually is, and on most policies that price stays level for life.