Final expense insurance: Final expense insurance (also called “burial insurance) is basically just a very small life insurance policy that is used to pay for any funeral expenses or small debts that you would leave behind. These plans are sold from traditional life insurance companies and you can buy them ranging in sizes. Anywhere from a couple of thousands of dollars all the way to $25,000. They are a much more affordable option compared to a larger life insurance plan. One final expense that you know your family is going to be left with are funeral expenses. Burial costs and all other related bills can easily reach up to $10,000 or more, which can be difficult for a grieving family to cover. That’s how a burial insurance policy can be useful. It will give your family the money they need to respect your final wishes and lay you to rest without adding any financial strain.