The Fate of a Rich Man

The story of the rich man and Lazarus was given to inform the Pharisees (who were lovers of money, v. 14, identifying them with the rich man), of their eternal state. They refused to hear the words of Jesus, which were not mere human words and opinions. Jesus was the divine Word from God, making His words, truly, the Word of God.
The Story also informs the reader of the place where OT people went after death. It was a temporary place because the saved were transferred to glory after Jesus' death (Ephesians 4:8, 9). Those in torment, the unsaved, will remain there until the Great White Throne Judgment (Revelation 20:14, 15), after which they will be cast into the Lake of Fire to suffer eternally.