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

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 $8,5081.
  • Additional fees for cemetery, monument, flowers, & obituaries can increase this cost to $14,8582.
  • 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: 2015 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