Unlike term life, final expense isn't about replacing income — it's about covering specific end-of-life costs. So the math is simpler: add up what you want covered.
Add up the real costs
| Expense | Typical range |
|---|---|
| Funeral service & burial | $7,000–$12,000 |
| Cremation (alternative) | $2,000–$5,000 |
| Cemetery plot & headstone | $1,000–$4,000 |
| Outstanding medical bills | Varies |
| Final debts (cards, loans) | Varies |
Common coverage choices
- $10,000–$15,000: Covers a modest funeral and basic costs — the most popular range.
- $20,000–$25,000: Full funeral plus some leftover bills or debts.
- $30,000–$40,000: Funeral, debts, and a small cushion for family.
A simple rule
Start with your local funeral cost (often $9,000+), add any debts you don't want to leave behind, and round up slightly. That's your number. You can always compare a couple of amounts to see how little the difference costs per month.