When exploring new final expense insurance coverage, one of the first questions most people ask is: what will it cost? The honest answer is that premiums vary widely based on several key factors, and comparing across multiple carriers is the best way to understand what's available to you.
Key Factors That Affect Final Expense Premiums
- ✓Age at time of application: Older applicants generally pay higher premiums
- ✓Coverage amount selected: Higher benefit amounts mean higher premiums
- ✓Gender: Women typically receive lower rates due to longer life expectancy
- ✓Health status: Simplified issue policies may ask health questions that affect pricing
- ✓Underwriting type: Guaranteed issue policies tend to cost more than simplified issue
- ✓Carrier: Rates vary significantly between insurance companies
- ✓State of residence: Some states have regulatory differences that affect pricing
Sample Premium Ranges to Compare
While exact premiums can only be determined by reviewing specific carrier quotes, here are general illustrative ranges to help frame your comparison of new final expense coverage options.
- ✓Age 55, $10,000 coverage: Approximately $30 $55/month depending on carrier and health
- ✓Age 65, $10,000 coverage: Approximately $45 $80/month
- ✓Age 70, $15,000 coverage: Approximately $70 $130/month
- ✓Age 75, $10,000 coverage: Approximately $65 $120/month
Connect with a licensed agent to compare current new final expense coverage options and actual premiums.
Or call directly: (866) 837-0682
Plans vary based on age, health, and location. Independent service · New coverage only.
Simplified vs. Guaranteed Issue Pricing
Simplified issue final expense policies, those that ask a few health questions but require no exam, typically offer better rates than guaranteed issue policies. This is because the carrier has some health information to assess risk.
Guaranteed issue policies accept all applicants within the eligible age range, but the carrier takes on more unknown risk, which is reflected in higher premiums and often a graded benefit period for the first 1 to 2 years.
How to Get an Accurate Comparison
The most effective way to understand what new final expense coverage will actually cost is to connect with a licensed independent agent who can run quotes from multiple carriers simultaneously. This allows you to compare coverage amounts, premium levels, underwriting requirements, and graded benefit terms side by side.
There is no cost for this comparison and no obligation to proceed.