Final Expenses Calculator
Example: Funeral + burial cost: 9000 $ · Legal + estate settlement: 5000 $ · Final medical bills: 4000 $ · Outstanding debts (cards, loans): 15000 $ · Existing life insurance / savings: 10000 $
| Total final expenses | $33,000 |
| Coverage gap to fund | $23,000 |
| Suggested policy size | $23,000 |
Worked example
Add a $9,000 funeral, $5,000 in legal and estate settlement, $4,000 in final medical bills, and $15,000 of outstanding debt — $33,000 in total final expenses. Subtract $10,000 of existing life insurance and savings, and the family faces a $23,000 coverage gap. That gap is what a final-expense policy of about $23,000 would cover, so no one has to drain their own savings or take on debt during a difficult time.
Frequently asked questions
What are final expenses?
They are the costs that come due at or after death: the funeral and burial or cremation, estate settlement and legal fees, any final medical bills, and outstanding debts that must be paid from the estate. Together they can far exceed the funeral alone, which is why this tool totals all of them.
What is a final-expense insurance policy?
Final-expense (sometimes called burial) insurance is a small whole-life policy designed to cover end-of-life costs, typically with modest coverage amounts and easier qualification than large policies. The coverage gap here is a starting point for sizing one.
Do debts have to be paid after death?
Generally, valid debts are paid from the deceased's estate before heirs receive anything, though family members are usually not personally responsible unless they co-signed. Including debts here shows how much of the estate they could consume.
Does existing life insurance count?
Yes. Any life insurance, payable-on-death accounts, or savings earmarked for these costs reduce the gap your family must otherwise cover. Enter what is already in place so the suggested policy size reflects only what is still needed.