Final Expense Fund

Definition - 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.

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.

Connect with us

Insuranceopedia on Linkedin
Insuranceopedia on Linkedin
"Insuranceopedia" on Twitter

Sign up for Insuranceopedia's Free Newsletter!