Start with your wishes
The right amount depends mostly on the kind of goodbye you want. A traditional funeral with a viewing and burial generally costs more than a direct cremation with a small memorial. Deciding on your preferences first makes the rest of the estimate much easier.
A simple worksheet
- Funeral or cremation costs. Ask a local funeral home for its itemized price list. Funeral homes must give you one when you ask in person, under federal rules. Price the services you’d want.
- Cemetery costs, if any. Plot, opening and closing the grave, and a headstone or marker are often priced separately from the funeral home.
- Final bills. Think about medical bills not covered by other insurance, plus any credit cards or loans you wouldn’t want to leave behind.
- Extras. Travel for family, a meal after the service, death certificates and an obituary.
- Add a cushion. Prices tend to rise over time, so many people add some extra.
- Subtract what’s already set aside. Savings earmarked for this, other life insurance, or a prepaid funeral plan.
The total is a reasonable starting point for a coverage amount.
Balance the amount with the premium
A larger benefit means a larger monthly premium. The best amount is one you can comfortably keep paying, because a policy that lapses for missed payments won’t help your family. If the full amount is a stretch, a smaller policy that covers the essentials is still meaningful.
Married? Each spouse needs their own coverage, and couples sometimes choose different amounts based on their own wishes and health.
Write it down
Once you’ve decided on your wishes, record them so your family doesn’t have to guess. The free Family Legacy Planner has pages for your final wishes, your service and where your important papers are kept.
See what your amount would cost
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General information only, not insurance, legal or financial advice. Last reviewed October 2026.