How much will funeral insurance cost?

Find out how much funeral insurance will cost you each month.


We took a look at a popular brand's funeral insurance product to see how much funeral insurance can cost (yearly and monthly) based on age groups and how much you insure.

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Prices shown are the initial premium in the first year, based on a sum insured of $7,000. Premiums may increase as you get older. Quotes last checked as accurate June 2017.

Sum insuredMonthlyAnnual

Prices shown are the initial premium and are based on a 47 year old male. Premiums may increase as you get older. Quotes last checked as accurate June 2017.

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Name Product Maximum Cover Maximum Entry Age Minimum Sum Insured Premium wont increase with your age Expiry Age
Apia Funeral Insurance
No expiry age as long as premiums are paid
Get up to $15,000 in funeral cover with Apia Funeral Insurance.
Insuranceline Funeral Insurance
No expiry age as long as premiums are paid
Take out an InsuranceLine Funeral Insurance policy and you could receive a bonus $100 gift card. T&Cs apply. Ends 30 June 2020.
Medibank Funeral Insurance
No expiry age as long as premiums are paid
10% discount for Medibank health members.
Real Guaranteed Funeral Insurance Flexi Plus
No expiry age as long as premiums are paid
Receive up to $15,000 in funeral cover. Premiums reduce by 5% every 5 years you hold your Policy.
Australian Seniors Funeral Insurance Top Cover
No expiry age as long as premiums are paid
Get up to $15,000 in funeral cover with Australian Seniors Funeral Insurance.
Guardian Platinum Funeral Insurance
No expiry age as long as premiums are paid
Get up to $15,000 in funeral cover with Guardian Funeral Insurance.

Compare up to 4 providers

What are the key factors that influence the cost of funeral insurance?

The main factors that will determine the cost of your funeral insurance are:

  • Where you live. It’s more expensive to be buried in somewhere like Sydney than in Hobart or Brisbane, for instance.
  • How old you are. The cost of premiums go up the older you are when you apply for funeral insurance.
  • Whether you choose level or stepped premiums. Level premiums remain the same, while stepped premiums go up over time.
  • Whether you smoke. Smokers can pay up to twice as much for funeral insurance as non-smokers
  • Whether you are male or female. Men statistically die younger than women so pay slightly more for funeral insurance.

Stepped premiums

Funeral insurance premiums can be either level or stepped and the type you choose will affect how much you pay for your cover, both now and in the future.

  • Level premiums. These are calculated according to your age when you take out your policy, your gender and the sum insured. Although your initial premiums will be higher than stepped premiums, they will not increase every year due to your age.
  • Stepped premiums. These are calculated according to your age, gender and sum insured each year the policy renews. That means while you will pay a lower premium to begin with, your premiums will increase every year with your age.

Ideally, you should find a policy that offers level premiums which you can factor into your budget over the long term rather than stepped premiums which start off cheaper and then cost more each year until your policy becomes unaffordable.

How will the cost of a policy stack up against the cost of a funeral?

Whether funeral insurance is worth having depends on the cost of your premiums vs the expected cost of your funeral. While premium costs vary according to factors such as entry age, gender and smoking status, the average cost of funeral insurance to age 80 for a 52-year-old is around $15,000, while the average cost of a funeral is around $7,000.

Isn't this a rip-off?

Yes, in this case you would be paying more in premiums then what you are being paid out. However, most policies these days will cap your premiums at the amount you have insured or pay-out the greater between the two.

How can I not get ripped off?

As well as choosing level rather than stepped premiums, there are other ways to ensure your funeral cover remains affordable. For example, you can look for insurance that offers either or both of the following:

  • Capped premiums. The insured amount is set at a particular limit (eg, $10,000) or age (eg, 90) and you continue paying for your policy until you reach that limit. After that, your cover will continue for the rest of your life but you won’t have to pay any more premiums.
  • Payout guarantee. Your dependants are guaranteed to receive either the total premiums paid or the original sum insured, whichever is the higher amount.

Learn more about value guarantees

How does smoking affect your ability to get funeral insurance?

We compared two quotes using the same details and changing the smoker status. These were the results.

StatusMonthly cost

Although you won't be excluded from cover in most cases, you will face a significantly higher premium. Note: The figures above are an estimate based on one brand and are not indicative of the entire market.

How do I save money on my policy?

There are certain things you can do to make sure your funeral insurance is as affordable as possible. These include:

  • Choose level rather than stepped premiums.
  • Shop around for the best deal, using comparison sites such as
  • Look for a policy that offers a discount for joint cover with your partner (can be up to 20%).
  • Look for a policy that offers capped premiums and a payout guarantee.
  • Give up smoking because there are discounts if you haven’t smoked for 12 months.
  • Consider an alternative to funeral insurance such as a high interest savings account or a pre-paid funeral plan.

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2 Responses

  1. Default Gravatar
    CatherineDecember 21, 2018

    Looking for burial insurance for a Male, 87 yrs old and Female 83 yrs old. Do you insure these ages?

    • Avatarfinder Customer Care
      MauriceDecember 21, 2018Staff

      Hi Catherine,

      Unfortunately the brands on our panel only cover funeral insurance up to the age of 80.


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