It's a type of permanent life insurance plan that provides you with lifetime protection and pays out a benefit to your beneficiary which can be used to pay for your funeral and burial expenses.
Usually, the average cost of a funeral and other end of life expenses is around $8,750 in the U.S.A.
Funeral plans usually offer up to $20,000 or more of coverage.
There are guaranteed issue plans available which means you cannot be turned down for coverage if you meet the age requirements.
For example, one highly-rated carrier offers guaranteed coverage for people ages 45 to 85 years old.