How much Burial Insurance do I need?

Dog Looking At Owner Who Is Wondering How much Burial Insurance do I need

We are often asked “how much burial insurance do I need? Your burial insurance need will vary depending on your personal and financial circumstances, but importantly you need enough to cover your end of life expenses.

The average cost of funeral and burial services are increasing each year, and you can pay these services by purchasing affordable burial insurance. By having insurance coverage, you can ensure that you will not be a burden to your family when you pass away.

Burial insurance can give you peace of mind because you can provide your family members with enough funds to pay for your final expenses. Understanding how much coverage you need to provide the kind of funeral you deserve is important in choosing the amount of your burial insurance.

In this article, we will provide more information on how to calculate your burial insurance need and how to find the best plan that will suit your need.



Burial insurance is also called funeral insurance, cremation insurance, or final expense insurance and it is meant to cover the cost of a funeral, burial, and other end-of-life expenses. Buying burial insurance will not leave your family with a mountain of debt after you pass away.

Most families don’t have the funds to pay for the funeral and burial. In fact, one study shows that approximately 62% of Americans have less than $1,000 in their savings account which is not enough to cover the funeral expenses.

That’s the reason why final expense insurance is so important. Burial insurance can protect your family from a financial disaster upon your passing.

You can easily qualify for burial insurance because it has an easy underwriting process (easy health questions). Most people with pre-existing medical conditions qualify because there is no medical exam.

You only need to answer some health questions. Your application can be submitted online or over the phone. Approval is quick with no need to wait a month or two to know if you are covered.

Burial insurance can be a great alternative for people who won’t qualify for a traditional term or whole life insurance because of health issues. You can qualify for burial plans regardless of a medical condition because there are plans that do not ask health questions at all.

Burial insurance has a wide range of coverage options. You can choose between $2,000 up to $50,000, depending on the amount of coverage you need.

Funeral insurance is whole life insurance that works this way:

  • Fixed monthly premiums for life
  • The policy will never expire when you reach 80 years old
  • The death benefit amount is guaranteed never to decrease
  • Accumulates cash value

If you do not expect to have enough funds at the end of your life to cover your burial and final expenses, then a burial insurance policy might make sense for you.

Even if you expect to leave enough money for your funeral budget, you may not want your estate to be depleted by your funeral expenses. Having a final expense insurance policy is one way to ensure that your entire estate will be available to your loved ones.



Simplified issue whole life insurance offers immediate coverage. This plan is burial insurance with no waiting period, coverage starts from the very first day! It does not require a medical exam, and the company underwrites your health based on your answer to several health questions.

Simplified issue insurance has a lower face amount or coverage compared with term insurance.

The underwriting is relaxed, but you can be denied coverage because of some pre-existing medical conditions, terminal illness, smoking, or taking part in risky activities or occupations.

Possible questions you might see on the application include:

  • Have you been diagnosed with a terminal illness like cancer in the last two years?
  • Do you have HIV, AIDS or AIDS-related complex?
  • Do you suffer from heart disease or a stroke?
  • Do you have kidney disease requiring dialysis?
  • Do you have any cognitive impairment like dementia or Alzheimer’s disease?
  • Do you have a disability that needs a wheelchair or confinement to a nursing home?
  • Do you need help with activities of daily living such as eating, bathing, dressing, toileting, continence and transferring?

Minor health issues like high cholesterol or high blood pressure are considered normal and a non-issue.

The main point of health questions in simplified issue insurance is to rule out potentially high-risk applicants, like those with a terminal illness like cancer.

Simplified issue burial insurance is the best option for people over 50 years old up to 85 years old, who may have some health issues that could prevent them from getting coverage through the traditional way.

This is an excellent option if you’re not in perfect health or you are too busy to take a medical exam, or you simply have a fear of needles.


If you are in the age of 50-85, guaranteed issue whole life insurance will provide your family with up to $25,000 of coverage without a medical exam or health questions. Your approval is guaranteed!

A Guaranteed Issue (GI) policy provides insurance coverage regardless of your health, age, or any other risk factors. A GI policy is life insurance for elderly or people who cannot qualify for any type of life insurance due to high-risk factors; almost anyone who can enter into a legal contract can be eligible.

Here are some examples of the most common medical conditions where a guaranteed issue burial life expense policy is your only option:

  • Alzheimer’s or dementia
  • Dialysis
  • HIV or AIDS
  • Organ transplants
  • Oxygen use
  • Terminal illness
  • Wheelchair-bound because of chronic disease
  • Mobility issue, needing help with any activities of daily living

Guaranteed issue policies will accept applicants with these medical issues.

Since the insurance companies assume higher risk in providing coverage, the cost of guaranteed acceptance policies is generally higher than other types of insurance policies.

Guaranteed issue life insurance has a graded benefit for the first two years. The two-year waiting period applies to the natural cause of death. If you pass away due to natural causes during the two-year waiting period, your beneficiary will only receive all the premiums you paid plus 7-10% interest.

Accidental death is fully covered even during the two-year waiting period, and the life insurance company will pay 100% of the death benefit to your beneficiary. After the waiting period, you are covered for life, and your beneficiary will receive a 100% death benefit if you die for any reason.


Your first step is to figure out how much burial insurance you will need is to know your end-of-life expenses.

Your funeral cost is the first thing that will come to your mind because it’s often the biggest single expense. Other “final expenses” to consider – outstanding medical bills, living expenses, legal costs, and credit card bills, to name a few.

According to the website of the National Funeral Directors Association (NFDA), the average cost of an adult funeral today is $8,755.

This amount only includes the most commonly used items for a traditional funeral. It doesn’t include the cost of the cemetery. A burial plot can cost about $2,000, so the average funeral and burial cost could be over $10,000.

Here is the funeral cost breakdown from NFDA:


  • $2,100 – Basic services fee
  • $325 – Removal of remains to funeral home
  • $725 – Embalming
  • $250 – Other preparation of the body
  • $500 – Use of funeral facilities and staff for a funeral ceremony
  • $435 – Use of funeral facilities and staff for viewing
  • $325 – Hearse
  • $150 – Service car
  • $160 – Basic memorial printed package
  • $2,400 – Metal Casket
  • $1,395 – Vault
  • $8,755 – TOTAL


  • $2,100 – Non-declinable basic services fee
  • $325 – Removal of remains to funeral home
  • $725 – Embalming
  • $250 – Other preparation of the body
  • $500 – Use of funeral facilities and staff for a funeral ceremony
  • $435 – Use of funeral facilities and staff for viewing
  • $150 – Service car
  • $160 – Basic memorial printed package
  • $350 – Cremation fee
  • $1,000 – Cremation Casket
  • $275 – Urn
  • $6,260 – TOTAL

There may be other funeral and burial expenses depending on the funeral service that you choose and the type of casket, headstone, services and miscellaneous items you want to be included.

Prices can also differ depending on the location of funeral and burial. For example, a chapel service can be more expensive, particularly if the funeral service is conducted at a chapel which is far from the funeral home.


The amount of burial insurance you need will depend upon your final wishes.

Use these guide questions to help you determine how much burial insurance you need:

1. Do you want to be embalmed?

2. Do you want to be cremated or buried?

3. What type of casket do you want?

4. Would you have a viewing? How many days?

5. What kind of headstone do you want?

6. How far is the funeral home to your house?

7. What kind of service will you use for transportation?

8. What type of funeral home facilities will your family need to use?

9. How many death certificates will your family need to close your estate?

10. How much allowance will you allot for other final expenses?

You can request a general price list from your nearest funeral home to know how much each service cost. Add up all these funeral costs to determine how much burial insurance you need.


Once you understand the importance of buying burial insurance, you’ll want to figure out how much coverage you will need.

You can do so by doing the following:

  1. Determine how much insurance you need to cover your final expenses.
  2. Compute the cost of everything you need for the funeral and burial to determine how much insurance coverage you need. You should do some online research to determine the funeral cost in your area.
  3. Include other costs such as medical bills and any outstanding debts you have on the computation. Other end-of-life expenses you will need to consider include remaining medical bills, legal cost, living expenses, credit card bills, and other past due accounts.
  4. Factor the inflation in your computation. The average funeral and burial cost is around $10,000, and it’s wise to plan on at least $15,000 to cover inflation.

Considering all these things will enable you to calculate how much burial insurance coverage you should buy.


The average premium for burial insurance for seniors is typically $50 per month, and the most common coverage amount is $10,000. You can choose to pay your premium weekly, monthly, semi-annually or annually. Some insurance companies give a discount if you pay your policy annually.

Your monthly premium amount might be higher or lower depending on some factors such as:

  • Age
  • Gender
  • Face Amount
  • Tobacco usage
  • Health condition
  • Pre-existing condition


Every life insurance company has a set price for every specific age. Some have a price for age 50, 51, 52 and so on. While other companies set their price according to age band. For example, 50-55 have the same pricing, and it will increase when you reach 56.

If you buy burial insurance when you are age 50, you’ll pay less premium than if you wait until you’re 80 before purchasing a policy. The older you are, the higher premium you’ll pay because you present a higher risk to the insurance companies.

Insurance providers charge higher premiums the older you get, but you lock in the premium at the age when you bought the policy, and the amount will remain that way for life.


The amount of coverage you need will also determine the amount you have to pay.

For example, your cost per $1,000 is $5.57 per month. If you want $10,000 in coverage, your total monthly premium would be $55.70 per month. The higher the face amount, the higher the premium will be.


Each burial insurance company has a specific rate for tobacco and non-tobacco users. They have different premiums for each, and they usually charge a higher amount to applicants who use tobacco.

Cigarette smoking is a major health risk that can significantly reduce life expectancy. This is the reason why tobacco users pay more for life insurance.

It is important to understand that some insurance companies give a non-tobacco rating if you chew, smoke cigars, smoke a pipe, or smoke e-cigarettes. Cigarette smoking has a tobacco rating.


Your health condition also factors the cost of burial insurance. Your current health determines your risk classification. The riskier you are to insure, the more expensive the premium.

Having a pre-existing medical condition can cost you more because medical conditions can significantly affect your life expectancy. Some pre-existing conditions can be so high-risk that getting immediate coverage is impossible.

The best part about buying burial insurance in your 50’s or younger is that you lock in a lower premium for the rest of your life. Being younger means, you are less likely to have any serious illness that could prevent you from qualifying for immediate coverage with no waiting period.

Serious illnesses usually manifest when you are older. So you’ll want to take immediate action and buy burial insurance protection now to cover your final expenses. If you want an accurate quote, click on the instant quote tool on this page.


Trying to find a policy if you want to know how much insurance you need shouldn’t be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker.

If you have a health history and want to know how much burial insurance do I need? Let us help you; we will work with you side by side to find a plan that fits your needs.

We will work with you every step of the way to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time anymore searching for multiple insurance companies because we will do the dirty work for you.

We will shop your case to different insurance carriers and get you the best burial insurance at the best price.

We work with many A+ rated insurance carriers that specialized in covering high-risk clients like you.  We will search all those companies to get the best rate. We will match you up with the best burial insurance company that gives the best rate.

We will assist you in securing the coverage you need at a rate you can afford. So, if you are looking for how much funeral insurance do I need, or how much final expense insurance do I need, or how much life insurance do I need. Fill out our quote form on this page or call us at 888) 862-9456 and we can give you an accurate quote.


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