Life Insurance Funeral Coverage Calculator

Total Final Expenses adds up four costs that typically come due around a death: Expected Funeral Cost, Outstanding Debts, Final Medical Expenses, and Legal & Probate Costs -- all independent of Life Insurance Policy Amount, since that figure describes what's available to pay these costs, not what they cost. Funeral costs themselves vary widely by region, services chosen (burial versus cremation, viewing, casket), and vendor, commonly running from a few thousand dollars for a simple cremation to well over ten thousand for a traditional burial with services, so Expected Funeral Cost is left as an estimate you supply rather than a fixed industry figure. Coverage Shortfall is the gap between what the policy pays out and what Total Final Expenses actually demands, floored at zero -- a policy that already covers everything shows no shortfall rather than a negative one.

Coverage Adequacy expresses the same comparison as a percentage, so 100% means the policy exactly covers Total Final Expenses and anything above 100% means it exceeds the need. Recommended Coverage adds a 10% buffer on top of Total Final Expenses -- and never drops below your current Life Insurance Policy Amount even if that amount already exceeds the buffered figure -- so the recommendation never suggests reducing coverage you already hold.