What Are Final Expenses Banner

Probably the largest "final expense" will be your funeral and burial arrangements.  However, final expense life insurance may also provide funds for things you haven't considered like:

  • Nursing care expenses

  • Medical

  • Probate

  • Past Due Accounts

Who Will Pay These Expenses Banner
How will these expenses be taken care of after you are gone? If you do not have a plan in place to take care of these expenses, they will be left for your loved ones.

Settlers Life makes final expense planning simple and it's a great option for:

  • People with existing life insurance, who do not want it to be spent on final expenses.
  • Those with health conditions such as a recent heart attack or insulin dependent diabetes.
  • Older adults who did not purchase life insurance at a young age and are now concerned they will not find coverage they can afford.
  • Parents & Grandparents who want to take out a life insurance policy on children or grandchildren.



How Much Final Expense Insurance Do I Need?


When planning for final expenses, it is important to remember that funeral and burial costs are on the rise. Over the past 25 years, funeral costs have consistently increased.

  • The average funeral cost today is $8,7551.
  • Additional fees for cemetery, monument, flowers, & obituaries can increase this cost to $15,1052.
  • Considering the average costs over the past 40 years and projecting out at 5% inflation per year, by 2030 the cost would be $18,276.3
  • The Social Security Death Benefit only provides a lump sum benefit of $255 for those who qualify4

Funeral Cost Table

­ 1 Source: 2017 National Funeral Directors Association General Price List Survey.
2 Source: https://www.everplans.com/articles/how-much-does-it-cost-to-be-buried-in-a-cemetery
3Does not include cemetery costs.

4 Source: Social Security Rules & Regulations 404.390