Final expense insurance can be a great way to help protect your loved ones with a small payout upon your death. They can use the funds to pay for any final costs and other expenses while they grieve.

On average, a final expense insurance coverage plan results in $600 per sale in first-year commission to the insurance agent. Every year the policy is renewed brings in another $50-60 per year in commission. The national average salary of an agent is $103,000.

Many traditional life insurance policies are designed to help with loss of income, pay off debts, help cover your children's education, and save for emergencies. Final expense insurance has a smaller death benefit because it's designed specifically for end-of-life expenses, such as funeral costs.

Most final expense plans have these features: Whole life insurance – no expiration if premiums are paid. Cash value – insured may be able to take out a policy loan. Fixed premiums as long as they're paid.