Cleanup Fund

Dictionary Says

Definition of 'Cleanup Fund'


An insurance term referring to the final expenses associated with an individual after his/her death. The cleanup fund, or funds for final expenses, is a type of life insurance policy intended to cover the deceased's final expenses. Costs associated with funeral expenses, cemetery or mausoleum fees, and the costs of settling financial and property issues may be covered.
Investopedia Says

Investopedia explains 'Cleanup Fund'


A cleanup fund can be a standalone policy or written in conjunction with another type of life insurance policy. The cleanup fund provides the estate with a means of paying for certain expenses related to the death, including funeral expenses and the costs of settling the remaining estate.

A cleanup fund can also refer to an account which has monetary resources devoted to environmental cleanup costs such as those following an oil spill.

comments powered by Disqus
Hot Definitions
  1. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  2. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  3. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  4. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  5. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  6. IPO ETF

    An exchange-traded fund that focuses on stocks that have recently held an initial public offering (IPO). The underlying indexes tracked by IPO ETFs vary from one fund manager to another, but index IPO ETFs are usually passively managed and contain equities that have recently been offered to the public.
Trading Center