Cost per lead (CPL)
Cost per lead is the average amount of money you spend on Facebook ads to generate one lead-form submission. For final expense in 2026, healthy CPL ranges from $8 to $25 per lead depending on state, audience, and creative quality. CPL excludes the cost of working the lead, which is separate.
CPL is calculated as total ad spend divided by total leads generated in a given period. A campaign that spent $1,000 and produced 80 leads has a CPL of $12.50.
CPL is the most commonly tracked metric for final expense Facebook ads, but it is not the most useful one on its own. Cost per placed policy is the metric that actually determines whether your ads are profitable. A $10 CPL with a 5% close rate produces a $200 cost per placed policy. A $20 CPL with a 15% close rate produces a $133 cost per placed policy. The "cheaper" lead is more expensive.
CPL drops as the Meta algorithm learns. Expect 30-60 days of consistent spending before CPL stabilizes on a new account.