Final expense insurance, also known as burial insurance or funeral insurance, is a type of life insurance specifically designed to cover end-of-life expenses. This typically includes costs associated with a funeral, burial or cremation, and any other expenses that might arise shortly after death.

Key features of final expense insurance:

1. Death Benefit: Final expense policies have a death benefit which is the amount of money paid out to the beneficiary or beneficiaries of a life insurance policy upon the death of the insured person. This payout provides financial support to the loved ones or designated individuals of the deceased, helping them cover expenses such as funeral costs, outstanding debts, living expenses, or other financial needs.

2. Simple Underwriting: The application process for final expense insurance is often simpler that other types of life insurance and does not require a medical exam. Instead, applicants just need to answer some health-related questions and fill out an application with their designated Insurance Agent.

3. Level Premiums: Premiums for final expense insurance are "fixed", meaning they won't increase over time.

4. Whole Life Coverage: Final Expense policies are whole life policies, meaning they provide coverage for the insured's entire life as long as premiums are paid.

5. Cash Value Component: Like other whole life insurance policies, final expense insurance builds cash value over time, which the policyholder can borrow against if necessary

6. Quick Payout: The death benefit is designed to be paid out quickly to help loved ones cover immediate expenses.

Final expense insurance can be a good option for individuals who want to ensure that their funeral costs and other small debts or expenses are covered, relieving their families of the financial burden during an already difficult time.