Most people need $10,000-$25,000 in final expense coverage. The average funeral costs $7,000-$12,000, plus you should factor in outstanding medical bills, credit card debt, and any other final expenses you want covered.
To determine the right coverage amount, add up all the costs your family would face:
$10,000 is the most popular coverage amount and covers a modest funeral with some left over for small debts. $15,000-$20,000 provides a more comfortable cushion. $25,000+ is appropriate if you have significant debts or want to leave a small inheritance.
Remember that premiums increase with coverage amount, so choose the amount that covers your realistic needs without overextending your budget.
Compare rates from top final expense insurance carriers.
Burial insurance typically costs between $20 and $150 per month, depending on your age, health, coverage amount, and gender. A healthy 60-year-old can expect to pay around $40-$60 per month for $10,000 in coverage. Read more
Final expense insurance is a type of whole life insurance designed to cover end-of-life costs such as funeral expenses, medical bills, and outstanding debts. Policies typically range from $5,000 to $50,000 and do not require a medical exam. Read more
The average funeral cost in America ranges from $7,000 to $12,000 for a traditional funeral with burial. Cremation costs less at $4,000-$7,000. These costs include the casket, embalming, ceremony, burial plot, and headstone. Read more
Compare rates from top final expense insurance carriers.