How Much Does the Average Funeral Cost?

The emotional pain of losing a loved one is obviously top of mind for most grieving people, but the financial burden is important to consider as well. The median cost for a funeral with a viewing and burial was more than $8,000 in 2023, according to the National Funeral Directors Association. If you’re worried about how your survivors will pay for your funeral, you may want to consider buying a final expense insurance policy or prepaying for your arrangements.

Consider working with a financial advisor who can help you with your overall estate plan, including paying for your end-of-life plan. Connect with an advisor for free.

Average Funeral Costs: The Basics

The median cost of a funeral with a viewing and burial was $8,300 in 2023, according to the National Funeral Directors Association’s most recent analysis of prices in the funeral services industry. ¹

That includes a viewing and burial, embalming, hearse, transfer of remains, service fee and more. It doesn’t, however, include the cost of the cemetery plot, gravestone or vault (many cemeteries require a cement container that prevents the ground from caving in). It also doesn’t include, say, a catered luncheon with drinks after the memorial service, which can add hundreds if not thousands of dollars to the cost.

Between 2021 and 2023, the median cost of a funeral with viewing and burial increased about 5.8%, according to the NFDA’s study. That may not seem so bad if you consider that over the same period cumulative inflation was over 12%.

Burial vs. Cremation

According to the NFDA, the median cost of a funeral with viewing and cremation is $6,280. That’s more than $2,000 less than the median cost of a funeral with a viewing and burial.

In 2020, the national cremation rate was 56%, while the burial rate was 37.5%, according to the NFDA. The remaining 6.5% of deceased individuals were reported as being handled through other means, such as donation to science or other alternative methods.

The gap between the number of cremations and burials is widening. The NFDA projects the cremation rate will be 63.4% in 2025, rising to 82.3% by 2045. ²

The cost differential between burial and cremation may be part of the reason that cremation rates are rising and burial rates are falling. In 2005, cremation accounted for 32.3% of funerals, while burials made up 61.4%.

Budgeting for a Funeral

It’s probably a good idea to budget more than $8,300 (or $6,280 for cremation). Why? Because those numbers don’t include things like traveling for the memorial service, meals and lodging around the time of the funeral, catering for guests, special clothing, clergy stipends and more.

If you don’t have enough cash to cover the cost of your funeral, you can always buy final expense insurance and name a loved one as the beneficiary of the policy. Most experts recommend rounding up to $10,000, which is why final expense life insurance policies often come with a $10,000 benefit.

That way, he or she won’t be out of pocket $10,000. Having a final expense policy can make it easier for your loved one to get that money. If you had $10,000 in a savings account, it may take your loved one longer to access that money, particularly if he or she is not listed as a beneficiary on your bank account.

Some final expense insurance policies are only available to those 50 or older. So what do you do if you’re under 50 and you don’t want your funeral to be a financial burden to a loved one? You can set up a dedicated savings account and share access to the account with your loved one, or buy a bond for the person who would be responsible for planning your memorial service.

In some cases, you can pre-pay for a funeral with a funeral home, but doing this too far in advance can lead to complications if you move or if the funeral home goes out of business.

Tips for End-of-Life Planning

• If thinking about how much the average funeral costs makes you worry about how your survivors will come up with that much cash, it may be time to start saving. If you’re eligible for final expense life insurance, you may opt for that. Because of the low policy benefit, these policies tend to come with low premiums, too. Or, you could buy a bigger term life insurance policy that your beneficiary could use to pay for your funeral and cover other expenses.
• Consider turning to a financial advisor for guidance on estate planning. If you don’t have a financial advisor yet, finding one doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

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