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Final Expense Insurance

Our experienced agents can help you gain peace of mind in knowing that any funeral affairs will be covered so that you can focus on the more important things in life.

The cost associated with the passing of a loved one can be a financial burden for any family. Ensuring that final expenses, like the burial process, are covered, provides peace of mind.

What Is Final Expense Insurance?

Final expense insurance covers the costs of a person’s death, such as a funeral and burial. It can also cover additional costs such as medical bills, credit card debt, and more. Sometimes called burial insurance, it is a type of permanent life insurance that is not set to fixed-term but continues for the life of the policyholder so long as the premium is paid. Policies range from as low as $5,000 to as high as $50,000.

Why Get Final Expense Insurance?

Mourning a loved one’s passing is a difficult time. Picking up the pieces and dealing with their absence can be a stressful, painful, and emotionally challenging experience. Beyond emotional looking into the financial costs, funeral and burials average $8,500 in cost without taking into account leftover debts and other expenses.

Final expense insurance helps ease the financial burden placed on families when a loved one dies. This policy will cover medical bills, burial, and funeral costs. Final expense insurance is an investment that gives peace of mind to loved ones that everything will be taken care of.

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How Does Final Expense Insurance Work?

Final expense insurance is a guaranteed whole life insurance or permanent life insurance. Approval is given no matter your health and can begin as early as the next business day after applying.

Guaranteed approval if between 45-80

No Medical Exam Required

Approval through application, over the phone, or online

Final expense insurance removes some of the financial burdens from the person’s loved ones by paying out cash to the specified beneficiary.

When Is Final Expense Insurance Right For Me?

Final expense insurance should be purchased when you’re between age 45 and 85 years old. The younger you are when you start a policy, the lower the monthly premium payment you can lock in. With older age demanding higher premiums, speak with one of our agents to help you secure approval and a competitive rate today, with coverage starting tomorrow.

Today is the youngest you will be, so your premium will only increase the longer that you wait.


  • Simple to Qualify
    • Doesn’t require a medical exam to quality
    • You can be qualified on the phone or by completing our application online
  • Fixed Premium
    • Once your policy is approved, your premium is fixed and will not increase
  • Tax & Term Benefits
    • Cash value of your policy accumulates tax-deferred
    • Death benefit guaranteed as long as premiums are paid
    • Not limited to a specific time frame like term insurance
    • Premiums remain level and can be payable beyond age 100
  • Affordable Premiums
    • Smaller than traditional policies as it typically only covers funeral expenses, with insurance average between $10,000-20,000
  • Rising funeral and medical costs
    • Burial and preneed insurance is a fixed cost coverage, meaning if costs increase after your agreement, your loved ones have to make up the difference

Cost of Not Having Final Expense Insurance

Without help from insurance, burial and final costs are passed onto the family. Final expense insurance provides a cushion for these costs. Financial support saves families from the troubling situation of figuring out how come up with thousands of dollars immediately for funeral and burial costs.

Planning ahead with final expense insurance saves loved ones from:

  • Taking on credit card or other debt
  • Working over-time or getting a second or third job to cover costs
  • Dipping into savings
  • Having to sell possessions or assets
  • Cancelling trips, holidays, vacations, etc.

Losing a loved one is an emotional hardship. Murray Insurance Agency is here to help ensure it’s not also a financial one. For over 30 years, we have helped thousands of families across Florida in their time of need. With reasonable monthly payments and approval not requiring a medical examination, it’s easy to secure insurance that lets families focus on celebrating their loved one’s life, instead of having to weigh the full cost of their passing.

Rising Funeral Costs Makes Final Expense Insurance a Wise Investment

Medical and funeral costs are on the rise with funeral and burial costs today averaging between $6,000-10,000.

Funeral with Burial: $8,508

  • Metal Casket – $2,395
  • Basic Services Fee – $2,000
  • Vault – $1,327
  • Embalming – $695
  • Facilities/Staff for Ceremony – $495
  • Facilities/Staff for Viewing – $420
  • Hearse – $318
  • Removal or Transfer of Remains – $310
  • Miscellaneous Preparation – $250
  • Printing for Memorial – $155
  • Service Vehicle(s) – $143

Funeral with Cremation: $6,078

  • Basic Services Fee – $2,000
  • Cremation Casket – $1,000
  • Embalming – $695
  • Facilities/Staff for Ceremony – $495
  • Facilities/Staff for Viewing – $420
  • Third-party Cremation Fee – $330
  • Removal or Transfer of Remains – $310
  • Urn – $280
  • Miscellaneous Preparation – $250
  • Printing for Memorial – $155
  • Service Vehicle(s) – $143

Losing a loved one can be an emotional heartache. Final expense insurance makes sure it is doesn’t become a financial headache. Burial insurance helps give loved ones the space they need to grieve, and peace of mind knowing Murray Insurance Agency is there to help.

Final Expense Vs. Burial & Pre-need Plans

When choosing between a burial or pre-need insurance plan vs a final expense insurance policy, it can be related to deciding which vehicle to purchase based on needs. If you consider final costs (burial, funeral, medical, etc.) as passengers and cargo, pre-need plans are the compact option, final expense insurance is the full-sized one. To fit a majority of the costs for burial and funerals, final expense insurance is the vehicle most prefer to help cover and drive down costs any potential costs for their loved ones.

Outliving Plan & Risks

Prepaid funeral plans are otherwise known as “burial” or “Preneed Insurance” covers basic burial and funeral costs at a fixed price. The beneficiary is usually the funeral home or mortuary that receives the benefits payment. Given prices can change or, in some cases, funeral homes have even run off with these funds, choosing a burial or preneed insurance plan requires diligence and planning. Finding a funeral home you can trust today is great, but it’s unclear whether management will change before you need to utilize your plan. Final expense insurance is a safer investment for a number of reasons.

Growing Value Vs. Non-Refundable

Life expectancy today in the USA is higher than it has ever been in history. With life expectancy being 81 years for females and 76 years for males, planning for a funeral in the future can get complicated. Living a longer life is bad news if choosing a pre-need plan but good news if you have a final expense policy.

Rising funeral and burial costs means outliving the term or fixed value of a pre-need funeral plan leaves further expenses to cover beyond what is planned. Availability of certain items – such as a burial plot or casket – may also change. As these plans are often non-refundable, non-transferable, can have hidden fees, and sometimes be mismanaged, research and diligence are always required.

If you live longer and want to reappropriate funds to enjoy your life, then you will want a final expense policy. A final expense policy increases in value over its lifespan, so living a longer life means the policy will cover rising costs. You can also borrow against your policy, giving you an option that is not available with pre-arranged funerals.

Life Insurance Vs. Final Expense Insurance

Traditional life insurance policies are primarily intended to replace income loss when a person dies. This is crucial when working, paying for your home, and raising your family. But after 45 if you are retired, paid off the mortgage, and kids are out of the house, traditional life insurance policies aren’t as crucial as burial insurance.

Borrowing Against a Final Expense Policy
What Is Borrowing?

Final expense policyholders may borrow against their policy while they are still alive. This is essentially taking a loan out of the policy to pay for a big purchase or life event. This money, in turn, must be paid back before the policyholder passes in order to receive the full payout.

Should I Borrow Against My Policy?

Any borrowing from final expense insurance policy should be done with caution as it may affect the benefit of the policy if not paid back in time. However, borrowing from your policy does allow you to bypass the credit check as long as you have enough cash value, and this loan typically has lower interest rates than traditional loans. Every situation is different, so talk to your Murray Insurance agent about what plan is best for you.

We Can Help You Find the Right Policy

Instead of trying to navigate the confusing insurance marketplace alone, contact us today to request help from our experienced team of agents. We understand the ins and outs of the industry and will be able to help you find the final expense plan that’s right for you and your family. Oh, and our expert advice is always free.

Step 1: Contact an Agent

Our expert team of agents is awaiting your phone call. We have served over 150,000 Floridians, like you, in the past 30 years.

Step 2: Compare Plans

Your agent will work with you, explaining all of your options and giving their expert advice to find the perfect plan that fits all of your needs.

Step 3: Finalize Your Policy

In one phone call, we’ll finalize your policy.

1 (800) 388-9908