The answer will depend on your age, gender, health, and the coverage amount you want to purchase. The price of final expense insurance will also depend on where you live. Different states have different prices. For example, a 65-year-old woman seeking a $10,000 death benefit and no waiting period might pay around $41 monthly. For a guaranteed acceptance policy, you would pay about $51. A 65-year-old male seeking a $10,000 face amount and no waiting period may pay about $54 per month and $66 for guaranteed acceptance.

Anything they want. An insured may have intended that it be used to pay for things like a funeral, flowers, medical bills, or nursing home costs. However, the money will belong to the beneficiary, who can use it for something else, such as credit card debt or a nest egg.