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What "final expense" insurance actually is

Final expense (sometimes called burial insurance) is a type of whole life insurance sold in smaller face amounts, often enough to cover funeral and end-of-life costs rather than replace income. Because it's whole life, it's meant to last your entire life as long as premiums are paid, and it can build a small amount of cash value over time.

Premiums are typically level, meaning they generally don't increase as you age once the policy is issued, though this varies by insurer and policy — confirm it in writing. It's a narrower, simpler product than a large traditional life insurance policy, and that simplicity is the whole point.

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