What is Final Expense?

Final expense insurance, also known as burial insurance, is a type of life insurance that is specifically designed to cover outstanding expenses and funeral costs after a loved one passes away. Unlike pre-paid funeral plans, final expense insurance can be used by the beneficiary you designate as and where needed rather than being limited to specific funeral services and providers. With the cost of an average funeral running into the thousands, a final expense policy can provide much-needed protection from not only burial expenses but also any remaining medical costs, potential legal costs as well as other expenses.