Final expense insurance — also called burial or funeral insurance — is a small whole life policy designed to do one specific job: make sure funeral costs, cremation, outstanding medical bills, or other end-of-life expenses don’t fall on your family. Coverage typically ranges from $1,000 to $50,000, most policies skip the medical exam entirely, and premiums are locked in for life once you’re approved. A traditional burial with viewing costs a median of roughly $8,300 today, while cremation with services averages around $6,280 — numbers that make even a modest policy meaningful for the family left to handle the arrangements. Below, we compare the insurers that stand out for final expense coverage in 2026.
Quick Answer: Best Final Expense Insurance Companies
| Company | Best For | Max Coverage | Notes |
|---|---|---|---|
| Mutual of Omaha | Best Overall | Varies by state | Living Promise policy; level and graded benefit options |
| Transamerica | Highest Coverage Amount | Up to $100,000 | Includes free funeral planning benefit |
| Aetna | Best for Health Conditions | Varies | Accepts COPD, CHF, and diabetes diagnosed after 40 |
| Globe Life | Cheapest Simplified Issue | Varies | Simplified issue rates from around $22/month |
| State Farm | Best Below-Average Pricing | $5,000-$10,000 (guaranteed issue) | Strong agent network, low complaint levels |
| AARP/New York Life | Best Guaranteed Acceptance | Varies | Backed by New York Life’s A++ rating |
| Lincoln Heritage | Best Dedicated Specialist | Varies | Funeral planning support included on every policy |
| Ethos | Best Fast Digital | Up to $25,000 | Guaranteed acceptance, ages 45-80, fully online |
*Coverage limits, waiting periods, and pricing vary by state, age, and health class — always confirm current details with the carrier.
What Final Expense Insurance Actually Covers
Final expense policies are simplified or guaranteed-issue whole life insurance, meaning they’re built around fast approval and small, manageable coverage amounts rather than large death benefits. A few things are worth understanding before comparing companies:
- Level benefit vs. graded benefit. Applicants in reasonably good health typically qualify for a level benefit, which pays the full death benefit from day one. Applicants with more serious health conditions may only qualify for a graded benefit, which pays a reduced amount if death occurs within the first two years, then the full benefit after that.
- Waiting periods matter. Many final expense and guaranteed-issue policies include a waiting period (commonly two years) before the full death benefit is payable for non-accidental death — accidental death is typically covered at the full amount from day one.
- Premiums are locked in for life. Once approved, most final expense policies guarantee the premium never increases and the coverage amount never decreases, which is a meaningful difference from term life insurance.
- Coverage amounts are intentionally small. Most policies range from $1,000 to $50,000 — enough to cover a funeral and related costs, but not designed to replace income or pay off a mortgage.
Mutual of Omaha — Best Overall
Mutual of Omaha’s Living Promise policy is one of the most recommended final expense products by independent agents, offering locked-in premiums for life and a choice between a level benefit (immediate full payout) for healthier applicants and a graded benefit for those with more serious health conditions. It holds a strong A+ AM Best rating.
Pros:
- Strong A+ financial strength rating
- Choice between level and graded benefit depending on health
- Widely recommended by independent agents for reliability and claims service
Cons:
- Pricing may start higher than budget simplified-issue competitors like Globe Life
- Coverage amounts and availability vary by state
Best for: Applicants who want a well-regarded, financially strong insurer as their default starting quote.
Transamerica — Highest Coverage Amount
Transamerica stands out for offering final expense coverage up to $100,000 — well above the $25,000-$50,000 ceiling common at most competitors — plus a free funeral planning benefit included with every policy. It’s the strongest option on this list if your final expense needs go beyond a basic funeral, such as covering outstanding medical debt as well.
Pros:
- Highest maximum coverage amount among final expense specialists
- Free funeral planning benefit included with every policy
- Established insurer with strong financial ratings
Cons:
- Larger coverage amounts may involve more health questions than smaller policies
- Not the cheapest option for buyers who only need a small policy
Best for: Applicants who want final expense coverage well above the typical $25,000-$50,000 range.
Aetna — Best for Health Conditions
Aetna is notable for accepting applicants with health conditions that many competitors decline outright, including COPD, congestive heart failure, and diabetes diagnosed after age 40. Carriers that do decline higher-risk applicants may still offer a graded plan, paying a partial benefit in the first two years and the full benefit after.
Pros:
- Accepts several chronic conditions that other insurers commonly decline
- Graded benefit option available for higher-risk applicants
- Backed by a well-established, financially strong insurer
Cons:
- Applicants accepted due to health conditions may be placed on a graded rather than level benefit
- Pricing for higher-risk applicants is higher than standard-health quotes elsewhere
Best for: Applicants with chronic health conditions who’ve been declined or offered unfavorable terms elsewhere.
Globe Life — Cheapest Simplified Issue
Globe Life frequently leads the simplified-issue final expense category on price, with rates starting around $22 a month for qualifying applicants. Simplified issue asks fewer health questions than fully underwritten policies, which keeps both the approval process and the price relatively low.
Pros:
- Frequently the lowest starting price in the simplified-issue category
- Fast approval with fewer health questions than fully underwritten policies
- Well-known, established brand
Cons:
- Lower starting price is tied to smaller coverage amounts and health-based rate increases
- Simplified issue may still exclude applicants with more serious health conditions
Best for: Budget-conscious applicants in relatively good health who want the lowest possible starting premium.
State Farm — Best Below-Average Pricing
State Farm’s guaranteed-issue final expense product offers solid pricing for applicants in their 60s and 70s shopping for smaller death benefits ($5,000 or $10,000), backed by a nationwide network of local agents for buyers who prefer face-to-face guidance over an online-only process.
Pros:
- Competitive pricing for below-average coverage amounts ($5,000-$10,000)
- Strong local agent network for in-person support
- Low complaint levels and strong overall reputation
Cons:
- Guaranteed-issue products carry a standard waiting period (commonly two years) before full non-accidental death benefits apply
- Larger coverage amounts are better served by other insurers on this list
Best for: Seniors who want a smaller guaranteed-issue policy and prefer working with a local agent.
AARP/New York Life — Best Guaranteed Acceptance
Distributed through AARP, this New York Life-backed final expense product offers guaranteed acceptance within its eligible age range, backed by New York Life’s A++ AM Best rating — the highest financial strength rating available. It’s a strong option for AARP members who want guaranteed coverage without any health questions.
Pros:
- Guaranteed acceptance with no health questions
- Backed by New York Life’s top-tier A++ financial strength rating
- Accessible to AARP members regardless of health history
Cons:
- Guaranteed-issue pricing is higher per dollar of coverage than simplified-issue alternatives
- AARP membership required to apply
Best for: AARP members who want guaranteed acceptance and the financial backing of a top-rated insurer.
Lincoln Heritage — Best Dedicated Specialist
Lincoln Heritage is the only company on this list built specifically around final expense insurance rather than offering it as one product among many, and it includes funeral planning support with every policy — useful for families who want guidance on funeral arrangements, not just a death benefit.
Pros:
- Dedicated final expense specialist with deep category focus
- Funeral planning support included on every policy
- Straightforward, senior-focused application process
Cons:
- Narrower overall product lineup than multi-line insurers like Mutual of Omaha or Transamerica
- Pricing is competitive but not always the single cheapest option
Best for: Applicants who want a company entirely focused on final expense insurance and funeral planning support.
Ethos — Best Fast Digital
Ethos offers guaranteed-acceptance whole life final expense policies up to $25,000 for applicants between ages 45 and 80, entirely online with no medical exam and no health questions. It’s the fastest, most straightforward option on this list for anyone who wants to apply without a phone call.
Pros:
- Fully digital, guaranteed-acceptance application process
- No health questions or medical exam required
- Fast turnaround from application to coverage
Cons:
- Maximum coverage ($25,000) is lower than Transamerica’s ceiling
- Guaranteed-issue pricing is higher per dollar of coverage than simplified or fully underwritten options
Best for: Applicants ages 45-80 who want the fastest, simplest online application with guaranteed acceptance.
How We Chose These Companies {#how-we-chose}
InsureAtlas’s rankings are based on publicly available information: each carrier’s disclosed coverage limits, underwriting approach (guaranteed, simplified, or level/graded issue), waiting periods, third-party financial-strength ratings (AM Best), and published consumer research comparing pricing and claims reputation across final expense specialists. No insurer can pay to appear higher on this list, and our rankings are not based on affiliate commission rates. Because final expense pricing depends heavily on your age, health, state, and desired coverage amount, we recommend getting quotes from at least two or three carriers before deciding.
How to Choose Final Expense Insurance
Calculate your actual expected costs first. A traditional burial with viewing costs a median of around $8,300, while cremation with services averages roughly $6,280 — choose a benefit amount that covers your realistic expenses rather than defaulting to the highest coverage offered.
Understand the waiting period before you buy. Guaranteed-issue policies commonly include a two-year waiting period for non-accidental death, during which beneficiaries typically receive a return of premiums paid rather than the full death benefit — accidental death is usually covered at the full amount from day one.
. Try simplified issue before guaranteed issue. Simplified issue (a short health questionnaire, no exam) is usually cheaper per dollar of coverage than guaranteed issue (no health questions at all) — don’t default to guaranteed issue unless you have health conditions that would likely disqualify you elsewhere.
Buy sooner rather than later. Final expense premiums are priced almost entirely by age at purchase, and rates can nearly double between your mid-60s and mid-70s for the same coverage amount.
Ask what’s included beyond the death benefit. Some insurers, like Transamerica and Lincoln Heritage, include funeral planning support or concierge services at no extra cost — a detail worth factoring in alongside price.
Frequently Asked Questions
What is the difference between final expense insurance and regular life insurance? Final expense insurance is a small whole life policy (typically $1,000-$50,000) designed specifically to cover funeral and end-of-life costs, with simplified or guaranteed underwriting and no medical exam. Regular life insurance, especially term life, usually offers much larger coverage amounts aimed at replacing income or paying off debts, and often requires more detailed underwriting.
How much does final expense insurance cost? Pricing depends heavily on age and coverage amount. A healthy 65-year-old woman might pay roughly $50-$80 a month for $10,000 in coverage, while a 75-year-old man in similar health could pay closer to $100-$150 a month for the same amount — premiums are locked in once approved and don’t increase later.
What is a graded death benefit? A graded benefit pays a reduced amount (often a return of premiums paid, plus interest) if the insured dies of natural causes within the first two years of the policy, then pays the full death benefit after that period. It’s common for applicants with more serious health conditions who don’t qualify for a level (immediate full payout) benefit.
Can I get final expense insurance with no health questions at all? Yes — guaranteed-issue policies accept all applicants within an eligible age range with no health questions, though they typically include a waiting period for non-accidental death and cost more per dollar of coverage than simplified-issue policies that do ask a few health questions.
Is final expense insurance worth it if I already have life insurance? It can be, particularly if your existing term policy is set to expire before you pass away, or if you specifically want a small, guaranteed permanent policy dedicated to funeral costs rather than relying on your family to cover those expenses out of pocket or from a larger policy meant for other purposes.
Bottom Line
Mutual of Omaha is a strong overall starting point for most applicants, while Transamerica stands out if you need coverage above the typical $25,000-$50,000 ceiling. Aetna is worth a direct quote if you’ve been declined elsewhere due to a chronic health condition, and Ethos offers the fastest, simplest guaranteed-acceptance option if you want to apply entirely online. Whichever insurer you choose, calculate your realistic funeral and end-of-life costs first, and buy sooner rather than later — final expense premiums climb significantly with age.
This article is for general informational purposes only and does not constitute financial, legal, or insurance advice. Coverage availability, rates, waiting periods, and underwriting requirements vary by state and are subject to change. Always confirm current policy details directly with the insurance company or a licensed agent before purchasing.