eHealth Launches $2K–$50K Final Expense Insurance Plans for Funerals
eHealth now offers Final Expense life insurance plans with $2,000–$50,000 coverage for ages 45–85, no medical exam and tax-free funds for funeral or cremation expenses. A survey of 1,000 Americans 65+ found 69% underestimate $6,000+ cremation costs and 35% underestimate $8,000+ burial costs.
1. Product Launch and Features
eHealth rolled out Final Expense life insurance plans in partnership with Mutual of Omaha, offering coverage from $2,000 to $50,000 for applicants aged 45–85 without requiring a medical exam. Policies deliver guaranteed tax-free funds for funeral, burial or cremation expenses and other end-of-life costs.
2. Consumer Survey Insights
A survey of 1,000 Americans aged 65+ revealed 69% underestimate the cost of funerals with viewing and cremation—over $6,000—and 35% underestimate burial costs exceeding $8,000. Nearly half (47%) of respondents worry about burdening loved ones with end-of-life expenses.
3. Strategic Implications
By adding these plans, eHealth expands its portfolio beyond health insurance to capture a growing market in final expense coverage, potentially boosting cross-selling opportunities and recurring revenue streams while addressing a significant uninsured need among lower-income seniors.