How Much Does a Funeral Cost?

A funeral can be very expensive, putting significant stress on loved ones during a highly emotional time. Aflac offers final expense insurance for individuals and families that can help cover these costs, reducing financial strain or unexpected debt on loved ones after you pass. Here, we’ll take a closer look at how much funerals cost and how you can plan for these costs to alleviate the financial burden on your family.

3 Min Read

Table of Contents

Key Takeaways

The national average cost of a funeral with burial is between $6,280 and $8,300.¹
Funeral costs depend on several factors, including the type of funeral, the state, and additional services.
Aflac offers final expense insurance for individuals and families to help loved ones cover the cost of a funeral and other end-of-life expenses.

How much do funerals cost?

The average cost of a funeral with a casket and burial has risen to $8,300 as of 2023. Furthermore, the average funeral with cremation costs around $6,280.¹ Therefore, in either case, it may be tough for people to pay for funeral costs if they do not have substantial funds set aside for these.

Factors that affect funeral costs

There are several factors that impact the cost of a funeral:

Location: The most important factor, funerals are most expensive in New England and least expensive in the Mountain region (where the average cost is still $7,390).¹ Generally, areas with higher costs of living will have higher funeral costs.
Type of ceremony: A service with viewing, ceremony, and burial will cost more than a service that just involves cremation.¹
Type of casket: Cremation is more cost-effective than burial as caskets tend to be much more expensive than urns, but caskets themselves vary in price.²
Services: Services like transportation for family, pamphlets, a hearse, and cremation services can add to the cost of the funeral.

How final expense insurance can help cover funeral costs

Final expense insurance is a small permanent life insurance policy designed for end-of-life planning. This type of life insurance plan helps loved ones cover funeral costs, legal fees for relevant end-of-life documentation, travel to the funeral, and other related costs. Some proceeds can also be used to help loved ones pay off debts or save for future expenses.

Final expense life insurance policies have smaller payouts, lower premiums that fit most budgets, and lifelong coverage.³ They also offer cash value that grows tax-deferred with each premium payment. An Aflac final expense insurance policy can give you added peace of mind knowing your loved ones can have help covering your end-of-life costs.

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Benefits of final expense insurance

Final expense insurance is a great option for several reasons:

Reasonable cost

Final expense insurance policies are smaller than traditional life insurance, offering premiums to fit most budgets. The average cost of a $10,000 final expense insurance policy for a 50-year-old male is $47 per month.³ Remember that premiums will vary by age, gender, and many other factors.

Older individuals can qualify

Final expense insurance is often designed specifically with seniors in mind, making it even more accessible than other forms of life insurance. Features that make final expense insurance easier for seniors to qualify for include the following:

No medical exam: If you find medical exams inconvenient or invasive, final expense insurance lets you skip the exam.
Simplified underwriting: The underwriting process is quicker and simpler. This helps shorten the process and can help increase approval chances, allowing easier access to coverage.
Guaranteed-issue policies: Some insurers may offer guaranteed-issue final expense insurance plans. You can’t be denied coverage with these types of policies, but they may have a waiting period that spans the first few years of the policy.⁴

Peace of mind

Since funerals can cost thousands, your loved ones may have to dip into savings or go into debt to cover the costs without final expense insurance. However, getting a final expense insurance policy gives you lifelong coverage, helping you have added peace of mind from knowing that your loved ones can grieve without having the financial burden of paying for your final expenses themselves.

Other ways to cover funeral costs

Final expense insurance can be a useful way to pay for a funeral, but it’s far from the only way. Here are some other ways your loved ones can cover the costs of a funeral and other end-of-life matters.²

Traditional life insurance: A whole life or term life insurance plan will pay a death benefit to your designated beneficiaries, which they may use to cover funeral costs among other expenses.
Social Security death benefit: A surviving spouse or child of a Social Security recipient may be eligible to receive a one-time death payment and monthly payments.
Funeral trust: A trust sets aside funds for a specific purpose, such as end-of-life or funeral expenses. A funeral trust can provide peace of mind by setting aside funds for a funeral before you pass.
Inheritance: If you leave beneficiaries an inheritance, they may use it (or their personal funds) to pay for a funeral service.

Get a final expense insurance quote

Funerals can cost thousands of dollars, and that’s after potentially unexpected end-of-life costs like long-term care and hospital bills. Final expense insurance provides a way to help your family cover these final expenses. Plus, final expense insurance can build cash value, providing beneficiaries with additional financial help after you pass. If you’re interested in helping your family have added peace of mind, speak with an Aflac agent today about final expense insurance.

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