What is the primary purpose of "final expense insurance"?

The primary purpose of final expense insurance is to provide funds for end-of-life expenses, such as funeral costs and other related expenses that may arise at the time of a person's passing. This type of insurance is designed specifically to alleviate the financial burden on the deceased's family or loved ones, ensuring that they are not left with significant expenses at a distressing time.

Final expense insurance typically has a lower face value compared to other types of life insurance, focusing on just the necessary costs that arise upon death. This makes it accessible and manageable for individuals who want to ensure that their final expenses are taken care of without placing additional financial stress on their survivors.

In contrast, mortgage obligations, retirement funding, and dependents' support during income loss relate to different financial needs and responsibilities, highlighting how final expense insurance uniquely targets the specific concern of managing end-of-life costs.