The category of life insurance known as “preneed” or “final expenditure” includes cremation insurance. When you buy cremation insurance, as opposed to whole life insurance, you are saving money to cover the cost of your cremation, memorial service, and any other costs that may be connected to your last wishes. Even though cremation is frequently less expensive than burial, the costs are increasing and, based on the options you select, may eventually equal the cost of a traditional burial. These expenses are covered when you have funeral insurance.