Final expense insurance, also known as “burial” or “funeral” insurance, is a life insurance policy with a low face value…

Final expense insurance, also known as “burial” or “funeral” insurance, is a life insurance policy with a low face value, from $2,000 to $50,000, that you can buy when you reach 50.

Policyholders can name any beneficiary, typically a family member, who would make the claim and receive the money upon the policyholder’s death. The beneficiary is then responsible for using the money to carry out the policyholder’s wishes.