Transamerica offers the cheapest final expense life insurance at $35 per month for a 50-year-old woman and $44 per month for a 50-year-old man.
Compare rates from top providers below.
Updated: April 23, 2026
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Transamerica offers the cheapest final expense life insurance for nonsmokers, averaging $35 per month for women and $44 per month for men.
Seniors may also find the lowest final expense life insurance rates from Transamerica, with average monthly rates at $78 for women and $60 for men.
USAA offers the cheapest final expense rates for female smokers at $45 per month, while Mutual of Omaha is the lowest for male smokers at $56 per month.
Final expense life insurance provides permanent whole life coverage specifically designed for end-of-life costs, with smaller benefit amounts and simplified underwriting.
Transamerica offers the cheapest overall final expense life insurance, according to our research. But the most affordable option depends on your profile and coverage needs.
Final expense insurance pays a small death benefit to cover funeral and burial costs, cremation fees and small outstanding debts. Rates vary by age, health and smoking status. Here are the cheapest providers across common buyer profiles.
Overall | Transamerica | Age 50, $15K, Nonsmoker | $35 | $44 |
Seniors | Transamerica | Age 70, $15K, Nonsmoker | $78 | $103 |
Female Smokers | USAA | Age 50, $15K, Smoker | $45 | $60 |
Male Smokers | Mutual of Omaha | Age 50, $15K, Smoker | $46 | $56 |
Rates shown are estimates based on sample profiles. Your actual rates may vary based on your circumstances, profile, and insurer underwriting.
Transamerica offers the lowest final expense rates for 70-year-old nonsmoking seniors, averaging $78 per month for women and $103 per month for men for $15,000 in coverage.
Final expense rates rise with age because older applicants represent a higher near-term claim risk, giving insurers less time to collect premiums before a payout becomes likely.
| Transamerica | $78 | $930 |
| Americo | $78 | $934 |
| Mutual of Omaha | $78 | $939 |
| Foresters Financial | $80 | $964 |
| Aflac | $82 | $982 |
| Lincoln Heritage | $84 | $1,009 |
| Liberty Bankers Life | $84 | $1,009 |
| Aetna | $86 | $1,026 |
| American Home Life | $86 | $1,032 |
| Royal Neighbors of America | $89 | $1,064 |
| American Amicable | $89 | $1,071 |
| AARP | $91 | $1,093 |
| Physicians Mutual | $95 | $1,139 |
| USAA | $95 | $1,144 |
| Fidelity Life | $97 | $1,162 |
| AAA | $111 | $1,332 |
| Gerber Life | $113 | $1,354 |
| AIG | $120 | $1,435 |
| State Farm | $123 | $1,480 |
| Ethos | $142 | $1,702 |
Rates are estimates based on a $15,000 final expense policy for 70-year-old nonsmokers. Actual premiums will differ, depending on your profile, coverage needs and insurer.
USAA offers the lowest final expense rates for female smokers at $45 per month for a 50-year-old seeking $15,000 in coverage. For male smokers specifically, Mutual of Omaha is the cheapest at $56 per month.
Smokers pay more than nonsmokers at the same age and coverage level because tobacco use raises mortality risk, shortening the average time between policy issue and a claim.
| USAA | $45 | $541 |
| American Amicable | $46 | $547 |
| Mutual of Omaha | $46 | $549 |
| State Farm | $49 | $590 |
| Transamerica | $50 | $597 |
| Lincoln Heritage | $51 | $607 |
| Liberty Bankers Life | $51 | $607 |
| Gerber Life | $51 | $615 |
| Physicians Mutual | $51 | $615 |
| Americo | $55 | $656 |
| Aflac | $55 | $658 |
| Foresters Financial | $55 | $662 |
| AARP | $56 | $672 |
| AIG | $57 | $682 |
| Aetna | $60 | $724 |
| American Home Life | $65 | $774 |
| AAA | $66 | $792 |
| Fidelity Life | $66 | $795 |
| Royal Neighbors of America | $74 | $891 |
Rates are estimates based on a $15,000 term policy for 50-year-old smokers. Actual premiums will differ, depending on your profile, coverage needs and insurer.
Final expense policies remain more accessible for smokers than term life or whole life coverage because the smaller benefit amounts require less rigorous underwriting. If smoking status data is unavailable for a specific insurer, contact it directly for a quote.
Choosing the right insurer matters as much as choosing the right coverage amount when buying final expense insurance. Here's how to get the lowest rate for your profile.
Final expense rates vary widely across providers for identical coverage, so comparing at least three to five quotes is the most direct way to reduce your premium.
Locking in a policy earlier means lower premiums for the life of the policy, since most final expense plans are permanent whole life with level premiums. Every year you wait to buy locks in a higher rate that won't change.
The average burial with viewing costs $8,300. Buying more coverage than your family needs raises your premium without adding proportional value.
Most final expense insurers reassign nonsmoker status after 12 consecutive months tobacco-free, which can reduce premiums. If you currently smoke, ask each insurer about its tobacco cessation reclassification policy before applying.
Several factors affect final expense insurance rates. Age, gender, smoking status and coverage amount are the most common.
| $1,000 | $6 | $71 |
| $5,000 | $17 | $199 |
| $10,000 | $30 | $363 |
| $15,000 | $44 | $522 |
| $20,000 | $56 | $674 |
| $25,000 | $69 | $830 |
| $50,000 | $115 | $1,382 |
Rates shown are estimates based on sample profiles. Your actual rates may vary based on your circumstances, profile, and insurer underwriting.
Age carries the most weight in final expense pricing. Insurers charge older applicants more because there is less time between policy issuance and a likely claim.
Gender also affects rates in most states. Women pay less than men at every age because they live longer on average, lowering the statistical probability of an early claim. Montana is the only state with a statutory ban on gender-based life insurance rating, so men and women pay the same rate there.
Smoking status at the time of application affects your rate as well. Smokers pay more than nonsmokers at every age, though most insurers will reclassify you as a nonsmoker after 12 consecutive months tobacco-free.
Coverage amount is a straightforward factor. A $15,000 policy costs more per month than a $5,000 policy. Aligning your benefit amount to actual funeral and burial costs, rather than rounding up, keeps your premium as low as possible without leaving your family short.
Most final expense insurers use simplified issue underwriting, which asks a few health questions but doesn't require a medical exam. People who can't qualify for a simplified issue policy may be offered a guaranteed issue policy at a higher premium, which also comes with a two-year graded death benefit period.
Transamerica offers the lowest final expense rates in MoneyGeek's dataset at $35 per month for a 50-year-old nonsmoking woman, but the right insurer depends on your age, health and smoking status. Comparing at least three to five quotes before buying is the most direct way to cut your premium.
Buying earlier locks in a lower rate for the life of your policy, since final expense coverage is permanent whole life with level premiums. If you smoke, ask each insurer about its tobacco cessation reclassification timeline before applying, because qualifying as a nonsmoker lowers your rates.
Transamerica offers the lowest final expense rates in MoneyGeek's dataset, at $35 per month for a 50-year-old nonsmoking woman and $44 per month for a 50-year-old nonsmoking man seeking $15,000 in coverage.
The average cost of final expense insurance for a 50-year-old with $15,000 coverage ranges from $44 (women) to $55 (men) per month.
Rates vary by age, health and smoking status, so your actual cost may differ. Comparing quotes from at least three to five insurers is the best way to find the lowest rate for your specific profile.
Final expense life insurance is designed to cover funeral and burial costs. Most final expense policies use simplified issue underwriting, which asks a few health questions but doesn't require a medical exam.
Guaranteed issue life insurance skips health questions entirely, accepts all applicants and costs more per dollar of coverage while including a two-year graded death benefit period.
MoneyGeek analyzed collected final expense life insurance rates from major insurers nationwide. The base profile used was a 50-year-old nonsmoker, male and female, seeking $15,000 in coverage. Additional profiles included 70-year-old seniors and 50-year-old smokers.
Rate data reflects which companies consistently offer the lowest final expense premiums across these profiles. All rates are monthly averages rounded to the nearest whole dollar. Average rates in the rates-by-age table are drawn from a broader provider dataset than the cheapest-provider tables and may therefore differ from the lowest individual provider rate shown for the same profile.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has analyzed the insurance market for almost a decade, first with LendingTree and now with MoneyGeek, conducting original research on hundreds of insurance companies and millions of insurance rates for insurance shoppers.
He writes about economics and insurance on MoneyGeek, breaking down complex topics so people can have confidence in their purchase. Like all MoneyGeek analysts, Mark collects and analyzes independent cost and consumer experience data on insurance companies to provide objective recommendations in our content that are independent of any of MoneyGeek's insurance company partnerships.
His insights — on products ranging from car, home and renters insurance to health and life insurance — have been featured in The Washington Post, The New York Times and NPR among others.
Mark holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He started his career working in financial risk management at State Street before transitioning to analysis of the personal insurance market. He's also a five-time Jeopardy champion!
