The Worksheet
Grab a piece of paper. Write down a number for each line:
- The service. Cremation or burial? Simple, or with a viewing and service? Write what you want.
- Medical bills. What is likely to be left? Hospital bills, hospice, drugs.
- Debts you do not want passed on. Credit cards, a car loan, personal loans.
- A small cushion. Many families add a few thousand dollars so no one has to ask others for money.
Add it up. Round to the nearest $5,000. That is your number. Most people land between $10,000 and $20,000.
Funeral and cremation prices vary by provider and change over time. When we talk, I will help you put real local numbers next to each line.
Common Mistakes
- Buying too little. Do the worksheet first. A plan that does not cover the bill is a plan that failed.
- Buying too much. Final expense is not income replacement. That is what larger life insurance is for. Do not pay for coverage you do not need.
- Forgetting that prices rise. A service that costs one amount today will cost more in 20 years. A small cushion helps.
Prices move. Every funeral home sets its own prices, and they change over time. Use this worksheet to get close — then talk to me for current numbers.
Frequently Asked Questions
Is $10,000 enough?
For a simple cremation plus a cushion, most often yes. For a traditional burial with a service, it is tight — most families in that case choose $15,000 to $20,000.
Can I raise my coverage later?
You can most often buy a second plan later, priced at your older age. Some carriers allow raises with a new round of underwriting.
Should my spouse and I get the same amount?
Not always. Do the worksheet apart. Each person's debts, wishes, and current coverage differ.