Final Expense Insurance

A Comprehensive Guide to Final Expense Insurance: Comparing Quotes, Saving Money, and Buying Online

Final expense insurance, also known as burial or funeral insurance, provides financial support to help cover end-of-life costs. This type of insurance can be a financial lifeline for loved ones left to cover these expenses. This guide will help you understand how to compare final expense insurance quotes, explore the pros and cons, discuss pricing, ways to save money, and the process of buying final expense insurance online.

Comparing Final Expense Insurance Quotes

Comparing final expense insurance quotes involves the following steps:

  1. Gather Information: Understand your end-of-life expense needs, including potential funeral costs, medical bills, and other outstanding debts.
  2. Obtain Quotes: Use online comparison tools or contact insurance companies directly.
  3. Compare Coverage and Premiums: Look at the coverage amount and the cost of premiums for each quote.
  4. Consider the Insurer’s Financial Strength: Look at ratings from A.M. Best, Moody’s, and Standard & Poor’s to ensure the insurer is financially stable.
  5. Check Reviews and Ratings: Look at customer reviews and professional ratings to gauge the insurer’s reputation and service quality.

Pros and Cons of Final Expense Insurance


  1. Easy Application Process: Final expense insurance often requires no medical exam and has simplified underwriting.
  2. Fixed Premiums: The premiums usually don’t increase over time.
  3. Provides for End-of-Life Expenses: It can alleviate the financial burden of end-of-life costs for your loved ones.


  1. Limited Coverage: The death benefit is often lower than traditional life insurance, typically used only for end-of-life expenses.
  2. May Cost More Over Time: Because of the simplified underwriting process, premiums may be higher compared to traditional life insurance for the same coverage amount.

How to Save Money on Final Expense Insurance

1. Shop Around: Premiums can vary widely between insurers, so compare quotes from multiple companies. 2. Buy Only What You Need: Consider your potential end-of-life expenses and purchase enough insurance to cover those costs, but not more.

  1. Maintain a Healthy Lifestyle: While many final expense insurance policies do not require a medical exam, those that do may offer lower premiums for healthier individuals.
  2. Consider Pre-Paying Funeral Costs: Depending on your situation, it may be more cost-effective to pre-pay your funeral expenses directly through a funeral home.

Comparisons and Top Companies

When comparing final expense insurance companies, consider factors such as coverage options, pricing, financial strength, and customer service. Some of the top-rated final expense insurance companies as of my last update in September 2021 include Mutual of Omaha, AIG, and Foresters Financial.

As with other insurance products, defining the worst companies can be subjective and heavily influenced by personal experiences and specific circumstances. Always conduct your own research and consider reviews and ratings from reputable sources.

Agents vs Brokers

Agents are typically tied to specific insurance companies and can provide detailed knowledge about their final expense insurance products. They can offer personalized service but are limited in their product range.

Brokers, on the other hand, represent multiple insurance companies and can help you compare final expense insurance products across a wider range to find the best one for your needs.

Buying Final Expense Insurance Online vs In-Person


Buying final expense insurance online offers convenience, and it allows you to get multiple quotes, compare coverage, and purchase a policy from home. However, it’s important to do your research and understand the policy terms, as you won’t have the personalized guidance of an agent or broker.


Buying final expense insurance in person allows for a more personalized service. You can get your questions answered, understand policy details, and get help with the application process. However, this method may limit your options and can be more time-consuming.

In conclusion, buying final expense insurance is a significant decision that can provide financial peace of mind for your loved ones. Whether you choose to buy online or in person, through an agent or broker, it’s important to compare quotes, understand the policies, and consider your own financial needs.