Final expense insurance is designed to pay for costs at the end of your life. That can include funeral or burial expenses, medical bills or even credit card debt. Since the average funeral costs $10,000 or more, final expense insurance can help you protect your family from the financial stress of these costs. Final expense insurance coverage amounts are much lower than typical life insurance coverage, ranging from about $5,000 to $35,000. That means final expense insurance is one of the most affordable types of coverage out there. Some carriers guarantee your monthly premiums will never go up, which is especially helpful if you live on a fixed income. Final expense insurance also doesn't require a medical exam, so even people who have had health issues can often get covered.