Who typically needs final expense insurance?

What it means

• The typical buyer is 50–85 years old and either has no life insurance in force or has coverage that will expire (for example a workplace term policy that ends at retirement). With the CDC National Center for Health Statistics reporting U.S. life expectancy at 79.0 years and 3.07 million deaths in 2024, the odds of needing funeral funding within a normal retirement horizon are meaningful.
• It is also a fit for people with health conditions that make it hard to qualify for larger, fully underwritten policies. Simplified-issue and guaranteed-issue final expense products let applicants secure coverage without a medical exam, in exchange for smaller face amounts and, in the guaranteed-issue case, a graded death benefit.
• It is generally NOT the right product for someone who needs to replace an income or protect a mortgage — that is a job for term life insurance, in a much larger face amount.