You understand the importance of planning ahead. You know you can likely qualify, even with a few health issues. Now comes the final, practical question: “What will it actually cost me each month?”

Cost is the bottom line, and transparency is essential. A $15,000 final expense policy is a common choice because it’s typically enough to cover the national average for funeral and burial costs, with a little extra left over.

This article will show you sample rates and, more importantly, explain the why behind the numbers so you can feel confident in your decision.

The Power of Any Coverage: A Note on Budget

While $15,000 is a common goal, the most important policy is the one that fits comfortably in your budget. If the rates below seem like a stretch, remember that even a smaller $5,000 or $7,500 policy can make a world of difference. It can cover the cost of a direct cremation or lift a significant portion of the burden from your family. The goal is peace of mind, and that starts at any level.

The 4 Key Factors That Determine Your Rate

An insurance premium isn’t an arbitrary number. It’s based on four simple, predictable factors:

1. Your Age: The younger you are when you lock in your policy, the lower your monthly premium will be for life.
2. Your Gender: Statistically, women live longer than men, which means they generally pay slightly lower premiums.
3. Your Health: A person with well-managed conditions will pay less than someone needing a “Guaranteed Issue” plan.
4. The Coverage Amount: The higher the death benefit, the higher the premium.

Sample 2025 Monthly Rates for a $15,000 Final Expense Policy

The chart below shows sample monthly premiums for non-smoking individuals in average health. These are estimates to give you a strong idea of what to expect.

Rates are for illustrative purposes only. Your actual rate will depend on your specific situation and the insurance carrier.

Frequently Asked Questions (FAQ)

1. Are the payments from a final expense policy taxable?
No. This is a critical benefit. According to the IRS, the death benefit from a life insurance policy is paid to your beneficiaries 100% income-tax-free.

2. Can the beneficiary use the money for things other than the funeral?
Yes. The money is paid directly to your beneficiary as a tax-free cash payment. While the primary purpose is to cover final expenses, they can use any remaining funds for anything they need—paying off a credit card, covering a final medical bill, or simply easing their financial transition.

3. What if I live a long time? Could I pay more in premiums than the benefit?
This is a smart question. It is possible, especially if you get a policy late in life. However, people choose these plans for the certainty and protection, not as a financial investment. It’s a safety net that guarantees the money is there when it’s needed, preventing your family from ever having to pay out-of-pocket.

4. Do I have to pay the premium for the rest of my life?
For most standard whole life final expense policies, yes. The premium is designed to be paid for life to keep the coverage active. This ensures the rate is as low as possible and never increases.

5. What happens if I miss a payment?
Most policies have a 30-day grace period. If you’re struggling, it’s important to contact the insurance company. For policies that build cash value, that value can sometimes be used to cover a premium. For more guidance on policy management, the National Association of Insurance Commissioners (NAIC) offers excellent, non-commercial consumer guides.

The Real Value: Peace of Mind

For a monthly cost that is often less than a cable TV bill, you can lift a potential five-figure burden from your family’s shoulders. You’re not just buying a policy; you’re buying a guarantee.

The rates above are a great starting point, but the only way to know your exact price is to get a personalized quote. At Sagewise, we make it simple.

See your personalized rate today. Get a free, instant quote and take the final step in protecting your family.