Is Final Expense and Burial Insurance the Same?

burial insurance is basically the same thing as final expense insurance

Final expense and burial insurance are not the same, but they can both cover funeral costs—final expense, however, covers a bit more.

What Is Burial Insurance?

The coverage included in burial insurance is essentially in the name—funeral, burial, and service costs, essentially every expense involved in the arrangements of the policyholder’s funeral. 

On average, funerals cost $5,000 to upwards of $10,000. Most people are unable to cover these costs, let alone with the suddenness they often appear. A burial policy, then, is a great and inexpensive way to make sure these expenses are taken care of.

What Is Final Expense Insurance?

Final expense insurance is often used as a synonym for burial insurance—they’re used interchangeably. While they’re very similar, they are not technically the same. Final expense is a full life insurance policy with payouts ranging from $5,000 to $75,000 depending on the provider. 

This payout can be used for a variety of costs depending on the needs and desires of the policyholder. Things like estate taxes, medical bills, and, of course, funeral expenses are all potential options.

The Difference Between Final Expense and Burial Insurance

Final expense and burial insurance can both cover funeral costs if you so choose. The difference, however, is that burial insurance is only used for funeral costs, while final expense can include funeral costs if you want. Burial insurance, then, is more limited with a smaller, specific payout, while final expense has a slightly larger, more flexible payout.

Which Insurance Is the Better Option?

So, between these two, which insurance policy is the better option? Well, that depends on your budget and goals with the plan. Final expense generally has more options in terms of the payout—you can use any of your $5k-75k death benefit for virtually anything within limits.

Burial insurance, on the other hand, is limited to funeral expenses. The cost between the two, however, is the same—that’s why most insurance companies use the terms interchangeably. A final expense plan may end up being more per month if the payout is higher. But, on a basic level, the premiums are rated the same.

Another term used for both final expense and burial is funeral insurance. If you see any of these three terms, keep in mind that they will be a bit different from the other. Funeral insurance, however, is virtually identical to burial insurance, if it is provided by an insurance company.

Funeral insurance can be provided by a funeral home itself, burial insurance typically cannot. It’s a small difference, but one that’s important to keep in mind when searching for potential plans. 

Choose the Best Insurance For You—Call Final Expense Direct

With so many hoops to jump through when searching for an insurance plan, you need someone to walk you through it all. Final Expense Direct’s dedicated Texas agents are ready and waiting for you to call and get started. We’re here for you—call us today at 1-877-674-0236.


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