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Final Expense Fund

What Does Final Expense Fund Mean?

A final expense fund refers to a life insurance policy meant to cover the insured’s final expenses. Coverage includes payments for funeral services, cemetery fees, and other posthumous expenses.

A final expense fund may also be called a clean-up fund.

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Insuranceopedia Explains Final Expense Fund

A final expense fund may be either a single insurance policy, a part of the policy, or one combined with another type of life insurance policy. Its only purpose is to fund the estate with money to cover death-related expenses of the insured. Typically, these policies have much lower face values and easier approval procedures in comparison to standard life insurance policies.

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Synonyms

Clean-up Fund

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InsuranceLife InsurancePersonal LinesPersonal

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