--- title: How to Plan (and Pay for) Your Own Funeral description: More than half of Americans can't afford to cover a loved one's funeral expenses, according to USAA. Planning ahead helps ease that burden. authors: - name: Liliana Hall role: Reporter url: https://money.com/author/liliana-hall/ bio: Liliana Hall joined Money in 2025. She is an Austin-based reporter for Money, where she covers a range of topics, including financial news, policy, banking, investing, passive income, financial planning and student loan debt. education: University of Texas at Austin at_money_since: 2025 articles: 150 covers: - Insurance - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Retirement - Shopping - Taxes social: - https://x.com/lilihallllllll - https://www.linkedin.com/in/liliana-hall/ editors: - name: Kristen Bahler role: Managing Editor url: https://money.com/author/kristen-bahler/ bio: Kristen Bahler has spent more than a decade turning culture, work and consumer spending trends into conversation-driving stories. Today, she leads Money's sponsored content channel and reader-favorite franchises like Best Places to Live and Best Places to Travel. education: Northeastern University, MA Journalism at_money_since: 2016 articles: 52 covers: - Insurance - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://www.linkedin.com/in/kristen-bahler/ published: '2026-11-05T19:49:16.000Z' modified: '2026-11-05T19:49:16.000Z' section: Insurance tags: - Sponsored word_count: 1332 canonical: https://money.com/how-to-plan-and-pay-for-your-own-funeral/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Undertaker showing coffins to a woman in funeral parlor.](https://img.money.com/2026/11/Explainer-Plan-Your-Funeral.jpg) ## Key Takeaways - The National Funeral Directors Association's latest price study, from 2023, puts the median cost of a funeral at $8,300. - 55% of Americans would be unprepared to cover those expenses for a close relative, according to a new survey from USAA. - Funeral costs can be funded through a payable-on-death bank account, a prepaid funeral contract, life insurance or a standalone final expense policy. Sponsored by: ![](https://s3.consumersadvocate.org/prd/image/image/39724/07deb000-5e4b-4ecf-9a89-3a6ee14b696e.webp) Don’t delay the inevitable and take care of your own. USAA Secure™️ Final Expense makes it easy to prepare for end-of-life expenses. [Go to USAA.com](https://money.com/pr/id07b946095a?ap_referrer=%2Fhow-to-plan-and-pay-for-your-own-funeral%2F&apxa1=homepage) Funeral planning probably isn’t high on your list of weekend activities. But planning now can spare your family from making difficult — and potentially expensive — decisions while they're grieving. A funeral with a viewing and burial had a [median cost](https://content.nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral) of $8,300 in 2023, according to the National Funeral Directors Association’s latest General Price List Study. That figure rose to $9,995 when a vault was included, while a funeral with a viewing and cremation had a median cost of $6,280. Those estimates don’t capture every expense a family may face, either. Cemetery costs, grave markers and miscellaneous expenses like flowers and obituaries are all excluded from NFDA’s estimates. For many families, the final bill can be tough to absorb. According to [new research](https://newsroom.usaa360.com/news/more-than-half-of-americans-say-they-are-unprepared-for-unexpected-end-of-life-expenses-usaa-survey-finds) from USAA, 55% of Americans say they would be unprepared to cover funeral or other end-of-life expenses if an immediate family member died unexpectedly. Planning ahead can help close that gap. ## Decide what you want and get it on paper Start with the details that matter most to you. Maybe that means a traditional burial in a family plot, with a religious ceremony to match. Or cremation, with ashes scattered somewhere meaningful — or a natural burial with less environmental impact and a memorial that feels more "you." You don’t have to plan out every detail at once, but documenting the big decisions will leave your family with fewer questions later. “A complete funeral plan will address three parts: decisions, documentation and accessibility,” says Duane Coker, a family law attorney and founder of the North Texas-based Coker, Robb & Cannon law firm. Ideally, funeral and final expenses should be part of a broader estate plan, he says. Coker also recommends making a list of key contacts — like your estate planning attorney, financial advisor, insurance agent and the person you want to execute your estate — and making sure your loved ones know where to find that information. ## Figure out what those choices will actually cost The price tag for funerary expenses can vary significantly depending on where you live and what services and products you choose, so national medians may not reflect what your family would actually pay. A funeral home’s quoted price is unlikely to provide a full picture, either. “There are often separate costs that can potentially add thousands of dollars,” Coker says. Those extras can include transporting remains, certified copies of the death certificate and a venue for a post-service gathering, among other costs. Once you have a sense of the arrangements you want, price out those specific services and add everything up. That should give you a more realistic estimate, and a better idea of how much you’ll need to plan for. ## Leave the money where your family can reach it Once you have a rough idea of what your funeral could cost, the next step is deciding how to cover it. The right strategy depends on your finances, the resources your family will have available and how much certainty you want that the money will be there when it’s needed. If you’re not sure which approach makes sense, a financial advisor can help you weigh the tradeoffs. The main ways to cover final expenses include: ### **Savings or a payable-on-death account** Setting aside money in savings can give you flexibility and control over how those funds are used, without the premiums or prepayment costs that other options entail. But it’s worth thinking about more than whether the money exists — you need to make sure your family can access it when they need it. One way to make cash easier for a beneficiary to access after your death is with a payable-on-death, or POD, designation on your bank account. You retain control of the account while you’re alive, while the named beneficiary can generally receive the funds after your death without the account going through probate. POD designations are typically available on checking and savings accounts, money market accounts and certificates of deposit, which gives you the opportunity to earn interest on these savings. The beneficiary generally needs to provide the financial institution with documentation, including a death certificate and identification, to access the funds. Make sure the beneficiary knows the account exists and where it’s held. You’ll also want to keep the designation current and make sure it matches your overall estate plan. ### **Prepaid funeral plans** Paying for some or all of your funeral arrangements in advance through a funeral home or other provider can allow you to make arrangements ahead of time and potentially lock in the price of certain items and services. Be aware of your rights as a consumer when you make funeral arrangements in advance. According to the Federal Trade Commission’s [Funeral Rule, you should receive](https://consumer.ftc.gov/articles/ftc-funeral-rule) itemized price information and be allowed to purchase unbundled goods and services rather than being required to buy a package. The FTC notes that survivors can be asked to pay additional amounts under [pre-need arrangements](https://www.ftc.gov/business-guidance/resources/complying-funeral-rule) when prices aren’t guaranteed. Before signing, ask exactly what's included and whether those prices are fixed, where your money is held and whether it earns interest, what happens if the funeral home closes or changes hands and whether you can cancel for a refund or transfer the plan if you move. ### **Life insurance** If you have life insurance, the policy’s [death benefit](https://money.com/what-is-a-death-benefit/) — the money the insurer pays to your beneficiaries after you die — could help cover your funeral and other final expenses. Before counting on this option, though, consider what else that money might need to cover. If your policy is intended to replace your income, pay off a mortgage, cover school tuition or provide for dependents, using a big chunk of the death benefit for funeral expenses could leave less money for those other needs. Review your coverage and beneficiary designations to make sure your insurance amount is enough to cover everything you intend. Make sure your beneficiaries, estate executor and financial advisor know the policy exists and where to find the relevant information. The National Association of Insurance Commissioners [recommends](https://content.naic.org/article/consumer-insight-what-know-about-life-insurance-beneficiaries) giving beneficiaries or a trusted advisor the insurer’s name and policy number, and keeping a current copy of the policy somewhere easy to find. ### **Final expense insurance** A standalone final expense policy can help cover funeral and other end-of-life costs, so your family doesn’t have to rely as heavily on savings or an existing life insurance policy. Final expense policies are designed to cover a narrower set of costs, so they generally have smaller death benefits than traditional life insurance. Premiums are fixed, meaning they won’t go up as you age, and there’s often a guaranteed death benefit. (The coverage is on the insured person; after they die, the death benefit goes to the beneficiary or beneficiaries they’ve named.) Applicants who don’t qualify for other types of life insurance because of their age or health may still be eligible for final expense insurance — and many don’t even need to take a medical exam. Like traditional forms of whole life insurance, final expense insurance can build cash value over time. Cost is another consideration: Your age when you buy coverage plays a big role in what you pay. As a rough benchmark, [USAA Secure Final Expense Whole Life Insurance](https://money.com/pr/t4a697559ba0?data-trk-company=usaa-final-expense-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=t4a697559ba0&encoded_id=&apxa1=homepage) offers coverage from $5,000 to $40,000. For a nonsmoker, USAA estimates that $20,000 in final expense coverage would cost about $63 a month for a 55-year-old man and $52 a month for a woman the same age. For someone who buys the same amount of coverage at age 75, the estimated monthly cost is $168 for a man and $133 for a woman. Before buying a policy, compare the amount of coverage you’re considering with the funeral costs you’ve estimated and the resources you’ve already set aside. If savings, existing life insurance or other assets are enough to cover those costs, you may not need a separate final expense policy. If there’s a gap, though, this type of coverage could help fill it. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/how-to-plan-and-pay-for-your-own-funeral/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Insurance", "item": "https://money.com/insurance/" }, { "@type": "ListItem", "position": 3, "name": "Life Insurance", "item": "https://money.com/life-insurance/" }, { "@type": "ListItem", "position": 4, "name": "How to Plan (and Pay for) Your Own Funeral" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/how-to-plan-and-pay-for-your-own-funeral/#webpage", "url": "https://money.com/how-to-plan-and-pay-for-your-own-funeral/", "name": "How to Plan (and Pay for) Your Own Funeral", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2026-11-05T19:49:16.000Z", "mainEntity": { "@id": "https://money.com/how-to-plan-and-pay-for-your-own-funeral/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/how-to-plan-and-pay-for-your-own-funeral/#breadcrumb" }, "dateModified": "2026-11-05T19:49:16.000Z" }, { "@type": "Article", "headline": "How to Plan (and Pay for) Your Own Funeral", "articleSection": "Insurance", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2026/11/Explainer-Plan-Your-Funeral.jpg", "width": 3464, "height": 2310, "caption": "Explainer-Plan-Your-Funeral" } ], "author": [ { "@type": "Person", "name": "Liliana Hall", "url": "https://money.com/author/liliana-hall/", "@id": "https://money.com/author/liliana-hall/#author", "description": "Liliana Hall joined Money in 2025. She is an Austin-based reporter for Money, where she covers a range of topics, including financial news, policy, banking, investing, passive income, financial planning and student loan debt.", "image": "https://img.money.com/2025/03/Hall_headshot.jpg?quality=85&w=640&h=640&crop=1", "email": "liliana.hall@money.com", "jobTitle": "Reporter", "alumniOf": "University of Texas at Austin", "sameAs": [ "https://x.com/lilihallllllll", "https://www.linkedin.com/in/liliana-hall/" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2026-11-05T19:49:16.000Z", "description": "More than half of Americans can't afford to cover a loved one's funeral expenses, according to USAA. Planning ahead helps ease that burden.", "abstract": "More than half of Americans can't afford to cover a loved one's funeral expenses, according to USAA. Planning ahead helps ease that burden.", "@id": "https://money.com/how-to-plan-and-pay-for-your-own-funeral/", "inLanguage": "en-US", "dateModified": "2026-11-05T19:49:16.000Z", "editor": [ { "@type": "Person", "name": "Kristen Bahler", "url": "https://money.com/author/kristen-bahler/", "@id": "https://money.com/author/kristen-bahler/#author", "description": "Kristen Bahler has spent more than a decade turning culture, work and consumer spending trends into conversation-driving stories. Today, she leads Money's sponsored content channel and reader-favorite franchises like Best Places to Live and Best Places to Travel.", "image": "https://img.money.com/2016/08/kristen.png?w=350&h=430&crop=1", "email": "kristen.bahler@money.com", "jobTitle": "Managing Editor", "alumniOf": "Northeastern University, MA Journalism", "sameAs": [ "https://www.linkedin.com/in/kristen-bahler/" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "wordCount": 1332, "keywords": [ "Sponsored" ], "about": [ { "@type": "Thing", "name": "Insurance", "sameAs": [ "https://en.wikipedia.org/wiki/Insurance" ] }, { "@type": "Thing", "name": "Life insurance", "sameAs": [ "https://en.wikipedia.org/wiki/Life_insurance" ] } ] } ] } ```