Final expense is a smaller permanent life insurance policy typically intended to help older adults cover funeral costs and other end-of-life expenses.

Also sometimes called “funeral insurance” or “burial insurance,” final expense life insurance typically provides a guaranteed payout to help loved ones pay for a funeral service, burial or cremation, doctor or hospital bills, or other immediate expenses after a death.

This kind of insurance is typically a good option for people whose age or health makes it difficult to qualify for other types of plans.