funeral insurance

Burial expense policy

Funeral insurance is a policy that pays out upon the holder's death to cover burial or cremation costs.

It's typically purchased by older adults or those with health conditions who want to spare family members the financial burden: My grandmother took out funeral insurance so we wouldn't have to worry about expenses.

Also called burial insurance or final expense insurance.

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Contract paying upon death

health insurance · whole life insurance · term life insurance · disability insurance · retirement annuity

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Used worldwide · Timeless · Negative · Everyday, not technical · Rated PG