Final expense insurance is a budget-friendly way to ensure your beneficiaries will have a way to pay for some or all of your end-of-life needs, whether that be burial, cremation or any other bills.
Final expense insurance is a type of whole life insurance policy, but it’s typically less expensive and made to help loved ones prepare for the costs that come in the final stage of life. Final expenses can quickly add up to thousands of dollars. Having a final expense insurance plan can ease the financial burden and allow your family to focus on healing. In 2023, the median cost of a funeral with a viewing and burial in the U.S. was $8,300. The median cost of a funeral with cremation was $6,280.*
Our expert insurance agents can explain all the details and help you decide the type and amount of coverage you need.
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- Coverage begins immediately.
- There is no expiration and the price is locked.**
- Policies starting as low as $31 per month.***
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Email Insurance@myMAX.com or call 334-215-4991 to speak to a licensed insurance agent. Licensed agents are standing by 8 a.m. to 5 p.m., CST, Monday through Friday, to help you.
Frequently Asked Questions (FAQs)
Why buy final expense insurance?
Final expense insurance helps ease the financial burden on your loved ones during a difficult time. It’s designed to cover end-of-life costs like funeral services, medical bills, or outstanding expenses so your family can focus on what matters most instead of worrying about money. It’s a simple way to plan ahead and provide peace of mind.
Benefits of final expense insurance
Final expense policies are typically easy to apply for, often with no medical exam required. Coverage amounts are typically smaller and more affordable than traditional life insurance, making premiums more budget-friendly. Policies are usually issued quickly, and benefits are paid directly to your chosen beneficiary, giving them flexibility in how the funds are used.
What does final expense insurance typically cover?
Final expense insurance can be used for a variety of costs, including funeral and burial or cremation services, caskets or urns, memorial services, and outstanding medical or legal bills. Because the payout goes directly to your beneficiary, they can also use it for other immediate expenses, such as travel, unpaid debts, or everyday bills.
Is final expense insurance right for me?
Final expense insurance may be a good fit if you want an affordable way to help protect your family from end-of-life costs. It’s especially helpful for individuals who may not need—or qualify for—larger life insurance policies, or who simply want a dedicated plan to cover funeral and related expenses. If your goal is to leave a small financial cushion and reduce stress for your loved ones, this type of policy can be a practical option.
What is the difference between final expense insurance and life insurance?
Final expense insurance is a type of whole life insurance, but it’s designed with a more specific purpose and smaller coverage amounts. Traditional life insurance policies often provide larger payouts to replace income, pay off a mortgage, or support long-term financial goals. Final expense insurance, on the other hand, focuses on covering immediate, end-of-life costs with simpler underwriting, faster approval, and typically lower premiums.
* National Funeral Directors Association. Statistics. 2024. https://nfda.org/news/statistics
** No expiration and price is locked provided the insured pays all premiums per plan requirements.
*** Lowest advertised price is based on lowest offered death benefit amount and based on a 50 year old female.
Refer to the your exact policy, including the limitations & exclusions listed within those forms, for complete details.
Not NCUA insured, and rate quotes are not guaranteed. Each insurance quote is based on individual circumstances. MAX Insurance Services is a wholly owned subsidiary of MAX Credit Union.
MAX Credit Union is a full-service financial institution serving Central and East Alabama, including Montgomery, AL; Auburn, AL; Opelika, AL; Prattville, AL; Wetumpka, AL; Tallassee, AL; and Troy, AL.
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