Final Expense Insurance Policy

Are Final Expense Policies Renewable?

Final expense insurance can be a form of permanent life insurance, meaning, in most cases, it does not expire unless you stop paying your premiums. Though, it is possible to purchase final expense insurance for only a set term. If you choose a term-based plan, once that term ends, you will need to purchase a new plan to continue coverage. Here’s what you need to know about renewing a final expense insurance policy. 

Final Expense Insurance

Final expense insurance is a low cost life insurance plan that is designed to provide your loved ones with the funds necessary to conduct a funeral and pay off your end-of-life expenses. Some final expense policies have a savings component as well, meaning the value of the policy will increase as you pay premiums into it. The policy will allow you to select a beneficiary, whom at your time of death will be legally responsible for allocating any death benefits that are paid out. 

Can My Final Expense Policy Expire?

If you purchase a final expense policy that is considered “permanent”, it will never expire. If the policy you choose to purchase is only set for a specific term, it will eventually expire. Once your policy expires, you will not be covered and therefore your beneficiaries will not receive any death benefits if you pass away. For this reason, many people choose the permanent option, ensuring that their family will have the money needed to pay their end-of-life costs. 

How To Renew Final Expense Policy

If your final expense policy expires, you will not be able to renew the same plan, but you can purchase new coverage. The downside of this is that your new policy will likely cost more, because rates for new policies increase based on how old you are. With this in mind, it is recommended that you purchase a permanent policy if you have no reason to suspect that you will pass away within a set period of time.  

Borrowing From Final Expense Policy

If you purchase a permanent final expense policy, you will be able to borrow from the savings component of that policy. This will likely not be the case if you purchase a term-based final expense insurance policy, because it will expire before you accrue enough payments to borrow from. If you have a permanent final expense policy, tax-free savings can be built up over time.  

Purchase Permanent Final Expense Insurance

If you need a permanent final expense insurance policy, or even a term-based one, you can get one with the help of Final Expense Direct. Simply call 1-877-674-0236 to get in touch with one of your agents. After you call, we’ll provide you with a quote on final expense policies in your area. 


Final Expense Direct’s utmost concern is the safety of our clients, their families, and our employees and agents. Our hearts, thoughts, and prayers go out to all that the Coronavirus outbreak has touched and those whose lives have been disrupted. While 98% of our workforce is working remotely, we are here if you need assistance. If you are a client, please contact Customer Support at 800-538-3610, Ext 2, with any questions in regards to your policy. You may also contact us via email at We will continue to monitor this situation and keep you updated.