Final expense.

Final expense insurance is permanent life insurance with a smaller death benefit than traditional whole life — typically $5,000 to $25,000. It is designed for one purpose: making sure your family does not have to come up with thousands of dollars at the worst possible moment.

The average funeral in Florida costs between $7,000 and $12,000. Add immigration of a body if needed, settling small debts, and the immediate cash needs of a surviving spouse, and the gap can be significant. Final expense insurance fills that gap.

Most final expense policies use simplified or guaranteed-issue underwriting. There is no medical exam. You answer a short health questionnaire, and many policies are issued regardless of health. Premiums are higher per dollar of coverage than larger whole life policies, but they are designed to be affordable on a fixed income.

Final expense is not the right product when you need significant coverage to support dependents or replace income. It is the right product when the goal is making sure your funeral and immediate end-of-life costs do not become your family's problem.