Final Expenses - Where Will The Money Come From?


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Some seniors are concerned about where the money will come from for their final expenses. The AARP website stated that the average traditional funeral had a cost of $5,160 ( Jan. 2001).

One thing to consider about this type of life insurance is who might NOT need it. If you have assets that could cover your final expenses you may not need this insurance. If you don’t have assets or an estate but your relatives have money and would not be stressed by covering the expense, again you might not need this coverage. Also consider your budget. A male in the 65 to 70 age bracket might pay around $35 to $40 per month for a $5,000 policy (whole life). If you are on a very tight budget I would not suggest this policy if it might interfere with your budget for food, medicine, or other essentials.

For seniors that choose to get a final expense policy I suggest dealing with a reputable company that is large and well known. The agent you shop policies with should explain all the details of the policy. Is the policy a term or whole life policy and what is the difference? Is the premium guaranteed not to increase? What are the other features and benefits of the policy? You may want to check the rate for comparable policies at a couple different insurance companies.

The author, Glenn Lamb is a Farmers insurance agent and owner of the Lamb Insurance Agency, Auto, Home, Life, and Business Insurance for Texas -

Customers in Texas can get rates and a quote at my websites, , or . You are also welcome to call me at 281-537-2700.


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