What does it mean to pre-pay, pre-purchase, or pre-fund final expenses?

Pre-paying or pre-funding final expenses is paying for funeral services and end-of-life arrangements in advance of death. These expenses may include burial, urn or casket, cremation, transport, grave marker, and more. You can pay a funeral home ahead of time or set aside funds specifically for this purpose. There are many ways that a person can pre-fund final expenses, such as holding a pre-paid funeral plan, funeral insurance or life insurance policy, or opening a savings account.