Can You Have Two Final Expense Policies? Yes! Here’s Why
Posted in Burial Insurance last updated on July 18, 2026Yes you can have two or more final expense policies from different life insurance companies or the same company(provided you don’t exceed their life insurance maximum coverage amount) with different named beneficiaries nationwide(all states states allow more than one burial insurance policy). It is very common for people to wonder if they can have more than one burial insurance policy due to inflation and rising costs for funerals. If you have had your final expense policy for a number of years you never want to replace it with a higher policy as premiums will be more expensive typically. There is also the two year contestability period to consider that we will expound upon in this article in addition to why it is a good idea to get another policy.
Key Takeaways
- Yes, you can have two final expense policies from different companies or the same company, as long as you don’t exceed their maximum coverage amount.
- Never replace your old policy with a new one if you’ve had it for more than two years; it’s usually more cost-effective to add a new policy instead.
- The two-year contestability period allows insurers to investigate claims made within the first two years of a policy, making having multiple policies beneficial.
- People often get multiple policies due to inflation, unexpected debts, peace of mind, or different beneficiaries.
- There are no limits to how many individual final expense policies you can have, but each company will have its own coverage limit.
Table of contents
Can You Have More Than One Burial Insurance Policy?
The Golden Rule: Never Replace Just Add
The golden rule if you have had your final expense life insurance policy for a number of years(typically more than 2) is to never replace coverage with a new policy you are applying for.
Now if the new policy you apply for just happens to be cheaper(highly unlikely) then mathematically replacement would make sense.
Here is why that is usually never the case, premiums for simplified issue whole life insurance(burial insurance, funeral, cremation insurance etc.) are based on age health, gender, life style and tobacco usage.
One of the biggest factors in determining premiums is age.
If you got your current policy 2 years ago you are older now than you were then.
This means the premium for the new policy you are applying for is usually going to be more expensive compared to your current plan(unless you bought a guaranteed issue plan which most of the time has higher premiums with a 2 year waiting period compared to immediate coverage plans).
This can result in you over paying for coverage when you do not have to.
Example:
If he were to decide he just wants one policy and replace his previous one his premium will be roughly $122 a month for one $20,000 plan. That is a $10 increase for his current age whereas if he just added he saves that $10 every month.
This is why generally replacement is not a good idea unless the math just happens to make sense which in our experience as life insurance agent brokers is very rare.
The Two Year Contestability Period Explained
Another factor to take into account is the two year contestability clause in final expense plans. This is probably the most important thing to consider if you are thinking if you should have more than one burial insurance policy or replace it.
A two year contestability clause in all final expense plans gives the insurance company the legal right to investigate your original application if you die within the first 2 years of having your policy active.
They want to make sure you did not conceal or misrepresent your health conditions on the original application to obtain coverage.
Honesty is always the best policy here, if you did not lie on your application you have nothing to worry about.
However it can take some time for the insurance company to investigate which means the payout can take a little longer.
If you have an existing policy already in place for over 2 years that one will payout while your current one is undergoing the investigation.
This is why it is best to have more than one final expense policy rather than replacing old coverage with one bigger policy. Our agents would refer to this as “diversifying your portfolio” or “policy stacking”.
There is no need for you to restart the clock just to have one bigger policy verse multiple smaller policies.
Why People Get Multiple Final Expense Policies
People wondering if they can have more than one burial insurance policy are typically concerned about inflation, debt, different beneficiaries or just wanting more peace of mind.
If you bought a policy five or even ten years ago it may not cover the full cost of todays expenses.
- Inflation(rising funeral costs): The average cost of a funeral, cremation, and cemetery prices has climbed significantly in the last 10 years. A policy you thought was “enough” back then, now may be short on covering current expenses.
- Unexpected Debts: Things happen. If you have recently taken on new medical or credit debt and want to ensure your spouse isn’t left with these expenses adding a second policy can protect them.
- Extra Peace of Mind: Most of our clients tell us they know their first policy covers the basics(casket, cremation service etc.) but they want a second policy to provide extra cushion and additional services for their funeral(memorial services, flowers, family dinner etc.)
- Avoiding Out of Pocket Costs: No one wants their children to have to move quickly to come up with money they don’t have. I once spoke with one of my clients who told me she took out 2 personal loans just to pay her mothers funeral. I never want to imagine that burden on anyone which is why adding a second policy ensures your final arrangements are pre-funded.
- Different Beneficiaries: Yes you can have multiple life insurance policies with different beneficiaries. This is very good for ensuring your loved ones have extra money left behind(legacy gift). You could consider this an inheritance.
Are There Limits to How Much Burial Insurance a Person Can Have?
There are no limits to how many individual final expense policies you can have with multiple life insurance companies nationwide(all states allow you to have more than one burial insurance policy) but there is a coverage limit for each policy you have.
Most life insurance companies are going to having a maximum coverage limit of $30,000 whereas fewer companies offer $40,000 & $50,000.
This means if you get $50,000 in final expense insurance with one company you cannot get another final expense plan with that same company since you hit their coverage limit.
That is why policy stacking is the way, you can get $50,000 with one company and another $50,000 with another company(provided you pass their underwriting and are willing to pay the monthly premiums for both policies).
Top Rated Final Expense Carriers at a Glance
Below you will see multiple final expense insurance carriers with plan details in addition to our underwriting tool to see your possible elgibility.
 | Age Eligibility | Policy Brochure |
★★★★★ | 45-85 | Brochure |
| Policy Features & Benefits | Type of Policy: Whole Life(Lifetime Coverage) | Waiting Period: Graded Plan(yes) Level Plan(no) |
| Death Benefit Amounts: $2,000-$40,000 | Level Death Benefit(Death Benefit Never Decreases) | |
| Available States: All Except NY | Level Premiums(Premiums Never Increase) | |
| Cash Value Builds in Policy | No Medical Exams Required | |
| Accelerated Death Benefit Rider | Allows the insured to access a portion of the policy’s death benefit while alive for various needs such as medical bills, living expenses, and funeral expenses. | |
| Eligibility | Applicable when the insured is diagnosed with a terminal illness (12 months to live) or has been confined to a nursing home for more than 90 days without the expectation of leaving. | |
| Inclusion | Automatically included in the policy at no extra cost. | |
| Accidental Death Benefit Rider | Provides an extra death benefit equal to the policy’s death benefit in case of death resulting from an accident. | |
| Inclusion | Requires an additional charge to be added to the policy. | |
 | Age Eligibility | Policy Brochure |
★ ★ ★ ★ ★ | 50-85 | Brochure |
| Policy Features & Benefits | Type of Policy: Whole Life(Lifetime Coverage) | Waiting Period: Immediate Benefit Plan(No) Graded & ROP Plans(Yes) |
| Available States: All Except NY | Level Premiums(Premiums Never Increase) | |
| Cash Value Builds in Policy | No Medical Exams Required | |
| Death Benefit Amounts: $2,000-$50,000 | Level Death Benefit(Death Benefit Never Decreases) | |
| Terminal Ilness Accelerated Death Benefit Rider | Allows the insured diagnosed with a terminal illness to use the entire policy death benefit (100%) for any purpose. If you have a $10,000 policy and are diagnosed with a terminal illness, you can access the full $10,000 for various needs. | |
| Accelerated Death Benefit Rider Confined Care | Provides 5% of the death benefit in monthly payments if the insured is confined to a nursing home 30 days after the policy starts. Can be used for monthly bills or other smaller expenses. | |
| Grandchild Rider | Offers $5,000 life insurance coverage per unit for a grandchild or great grandchild, with a maximum of 2 units totaling $10,000 in coverage. Costs an additional $1.00 on the monthly policy premium per unit for each grandchild. | |
| Children’s Insurance Agreement | Provides up to $6,000 in coverage for each child below age 25. Can be converted to a whole life or endowment policy when the child is over 25. Allows coverage up to 5 times the coverage amount, totaling $30,000, without demonstrating insurability. | |
| Nursing Home Waiver of Premium Rider | Waives premium payments on the policy if the insured is confined to a nursing home for over 90 days, making the insurance essentially free. | |
| Accidental Death Benefit Rider | Doubles the death benefit payout if the insured or loved one dies from an accident, with no additional cost to be added. | |
 | Age Eligibility | Policy Brochure |
★★★★★ | 40-89(Preferred & Standard Plans) 40-75(Modified Plan) | Brochure |
| Policy Features & Benefits | Type of Policy: Whole Life (Lifetime Coverage) | Waiting Period: Preferred & Standard Plan(No) Modified Plan(Yes) |
| Available States: All Except NY | Level Premiums (Premiums Never Increase) |
|
| Cash Value Builds in Policy | No Medical Exams Required | |
| Death Benefit Amounts: $2,000-$50,000 | Level Death Benefit (Death Benefit Never Decreases) |
|
| Accelerated Death Benefit Rider | Allows the insured diagnosed with terminal, critical, or chronic illness with an expected death within 12 months to access 50% of the policy death benefit for various purposes such as bills or funeral planning. | |
| Accidental Death Benefit Rider | Pays out an amount equal to the policy death benefit for accidental death if the insured is between 40 and 70 years old. | |
| Children’s Term Insurance Rider | Children and grandchildren aged 30 days to under 18 years old can be covered for amounts ranging from $2,500 to $10,000 each. The policy can be converted to a whole life policy for the child between the ages of 22 and 25. | |
 | Age Eligibility | Policy Brochure |
★★★★★ | 50-90 | Brochure |
| Policy Features & Benefits | Type of Policy: Whole Life(Lifetime Coverage) | Waiting Period: Year 1: ROP+5% Interest Year 2: 50% of Death Benefit Paid Year 3: 100% Death Benefit Paid |
| Available States: All Except NY | Level Premiums(Premiums Never Increase) | |
| Cash Value Builds in Policy | No Medical Exams Required | |
| Death Benefit Amounts: $2,500-$20,000 | Level Death Benefit(Death Benefit Never Decreases) |
 | Age Eligibility | Policy Brochure |
★★★★★ | 50-80 | Brochure |
| Policy Features & Benefits | Type of Policy: Whole Life(Lifetime Coverage) | Waiting Period: Full 2 Year Waiting Period Death Within 2 Years is ROP + 10% Interest Accidental Death Within Waiting Period is Full Policy Payout |
| Available States: All States | Level Premiums(Premiums Never Increase) | |
| Cash Value Builds in Policy | No Medical Exams Required | |
| Death Benefit Amounts: $5.000-$25,000 | Level Death Benefit(Death Benefit Never Decreases) |
Free Underwriting Tool
Use our free tool below to see your likelihood of eligibility.
| Health Condition | Day One Eligibility | Best Plan Option |
|---|---|---|
| ADL’s(Assistance of Daily Living Eating, Dressing, Toileting, Bathing) | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| AIDS & HIV | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| ALS | Modified Options Probable | Graded or Modified Broker Options |
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| Amputation Caused by Accident(ADL’s Needed) | Modified Options Probable | Graded or Modified Broker Options |
| Amputation Caused by Diabetes or Disease(No ADL’s Needed) | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Amputation Caused by Diabetes or Disease(ADL’s Needed) | Guaranteed Issue | Guaranteed Issue Plans(No Health Questions) |
| Aneurysm | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
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| Tumor Non-Cancerous | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Ulcerative Colitis | Excellent Chance (Immediate) | Top Tier Independent Broker Plans |
| Eligibility details shown above represent generalized carrier underwriting guidelines for educational purposes. Actual approval for immediate day-one coverage is subject to individual medical underwriting, prescription history checks, and final carrier approval. Call us directly to verify your specific eligibility. | ||