Funeral Insurance Calculator

How this estimate works

The estimate is simple arithmetic. It takes the funeral-home figure for your chosen arrangement, adds the cemetery costs, other costs and debts you enter, and subtracts any money you've already set aside. The result is the amount a payout would need to cover. It is not a premium estimate, because premiums depend on the insurer, your age, your health and the policy type, and we don't have a reliable national figure for them.

Funeral-home figures start from the National Funeral Directors Association's 2023 General Price List Study. Two arrangements use the NFDA's published totals. The others are built by adding the median price of each item, rounded to the nearest $100, so treat them as estimates. The NFDA figures cover the funeral home only. They leave out cemetery charges, cash advance items such as flowers and death certificates, and taxes.

Insurance, prepaying or saving: how they differ

Funeral insurance, burial insurance and final expense insurance are names for the same kind of product: a small life insurance policy that pays cash to the person you name. Your beneficiary can spend it on any funeral home, or on bills. A prepaid funeral plan is different. It is a contract with one funeral home for chosen goods and services.

• Insurance is flexible, and the payout isn't tied to one provider. The payout is a fixed amount, so it doesn't grow if funeral prices rise, and you may pay more in premiums than the benefit if you live a long time. The table in the calculator shows where that happens for your quote.
• A prepaid plan can fix the price of the goods and services you choose, but it ties you to one funeral home. Ask what happens if you move or the home closes, and whether the money is held in trust or an insurance policy.
• Savings set aside for the purpose are the most flexible. The risk is that the money gets used for something else, or that family can't reach it quickly after a death.

Whichever you choose, compare General Price Lists first. The FTC Funeral Rule requires funeral homes to give you prices, and our funeral cost calculator breaks an arrangement down line by line.

Questions to ask before buying a policy

1. Is there a waiting period before the full benefit is paid, and what is paid if death happens during it?
2. Will the premium stay the same, and does it stop at a certain age or continue for life?
3. Is the policy underwritten with health questions, or is acceptance guaranteed? Guaranteed policies often cost more for the same benefit.
4. Does the policy build cash value, and what happens if you stop paying?
5. Is the insurer licensed in your state? Your state insurance department can confirm it.
6. Is there a free-look period that lets you cancel and get your money back?

Other money that may help

Public benefits cover only a small part of most funerals. Social Security pays a one-time lump-sum death payment to a qualifying surviving spouse or child, and it is far smaller than a typical funeral. Eligible veterans and some family members can claim a VA burial allowance, and the amount depends on the date of death and whether the death was service-connected. Check the current figure with the VA burial benefits calculator.

Put these in the “money already set aside” box only if you are confident they will be paid. Benefits are usually reimbursed after the bills are paid, so the family may need to cover the cost first.