Final Expense Insurance Calculator
A right-sized coverage amount for funeral costs — plus what it's likely to cost you per month.
Your plan
National medians — actual cost varies significantly by location and choices.
Recommended Coverage
$9,000
- CCopy result
- DDownload PDF
- SSave this calculation
- HToggle history
- ?Show this panel
- EscClose open panel
Disabled while typing in a field.
A Small, Specific Policy for a Specific Cost
Final expense insurance exists for exactly one job: making sure funeral and immediate end-of-life costs don't fall on family members who may not have $6,000-$8,000 in cash sitting around. It's deliberately small (usually $5,000-$25,000), deliberately simple (often no medical exam), and priced accordingly — higher per $1,000 of coverage than a large, medically underwritten term policy.
Worked Example
| Factor | Amount |
|---|---|
| Cremation (national median) | $6,280 |
| Other expenses (medical bills, cushion) | $2,000 |
| Less: existing savings | −$0 |
| Recommended coverage (rounded) | $9,000 |
At a simplified-issue rate for someone in their 60s, $9,000 of coverage runs roughly $18/month in this example — real quotes vary by insurer and health questions asked, but the shape of the math holds.
Final expense insurance
- No medical exam, often guaranteed acceptance
- Small, predictable coverage amount and premium
- Higher cost per $1,000 than underwritten life insurance
Alternatives worth comparing
- A small traditional whole life or term policy, if you can pass underwriting
- Simply saving the target amount directly, if you have time
- A payable-on-death bank account earmarked for this purpose
Worth knowing: If you can still qualify medically, a small underwritten whole life or term policy from our Life Insurance Premium Calculator is often cheaper per dollar of coverage than guaranteed-acceptance final expense insurance — worth comparing both before deciding.
Frequently Asked Questions
How much does a funeral cost?
The latest widely-cited national median is roughly $8,300 for a funeral with viewing and burial, and about $6,280 for a funeral with cremation — though costs vary significantly by location and choices like the casket or service.
What is final expense insurance?
A small, simplified-issue whole life policy — typically $5,000 to $25,000 in coverage — designed specifically to cover funeral costs and small remaining debts, usually with no medical exam required and often guaranteed acceptance for seniors.
How is final expense insurance different from term or whole life?
It's much smaller in coverage and priced very differently — because it skips the medical exam and often guarantees acceptance regardless of health, the cost per $1,000 of coverage is meaningfully higher than fully underwritten term or whole life insurance.
Why does final expense insurance cost more per $1,000 than term life?
Guaranteed-acceptance and simplified-issue policies don't screen out higher-risk applicants the way medically underwritten term life does, so insurers price in that additional risk across the whole pool — the trade-off for skipping the exam and approval hassle.
How much final expense coverage do I need?
Start with expected funeral costs, add any other small debts or expenses you want covered (medical bills, a cushion for family travel), then subtract savings already set aside for this purpose — the remainder is a reasonable coverage target.
Is this an actual insurance quote?
No — this estimates a coverage need and a rough premium using typical simplified-issue rate patterns by age, not a quote from any specific insurer. Get an actual quote to see real pricing for your health and state.
Related calculators
Life Insurance Needs Calculator
For larger income-replacement coverage, not just final expenses.
Calculate → Long-Term CareLong-Term Care Insurance Calculator
A much larger, separate planning need worth checking too.
Calculate → Net WorthNet Worth Calculator
See the full picture of assets available to self-fund costs.
Calculate →