Final expense insurance
Final expense insurance is a type of small-face-amount whole life insurance, typically $5,000 to $25,000 in coverage, designed to cover funeral and end-of-life costs. It is sold primarily to seniors aged 50-85 with simplified or guaranteed-issue underwriting, often without a medical exam.
Coverage face amounts are intentionally smaller than traditional whole life because the product is positioned around a specific life-event need: paying for a funeral and final medical bills.
Most FE policies are issued by a small set of carriers (Mutual of Omaha, Foresters, AIG, Aetna, Gerber, Royal Neighbors, Lincoln Heritage, etc.). Premiums and underwriting tiers vary substantially by carrier.
Final expense is the most-advertised life insurance product on Facebook because the demographic (50-85) is heavily concentrated on Facebook, the conversion path is short, and the product addresses a tangible emotional need.