Finder makes money from featured partners, but editorial opinions are our own.
How much does funeral insurance cost?
Our research showed that funeral insurance costs between around $10 a week for $8,000 worth of cover – but prices differ depending on personal factors.
The cost of funeral insurance changes based on a lot of circumstances, such as age, cover amount and smoking status.
To give you an idea of the general cost, we ran quotes with some of well-known Australian brands.
We also looked at what makes the biggest impact on costs so you can find ways to save.
How much does funeral insurance cost?
We sourced online quotes from 3 of Australia's most well-known insurance brands. We found that for a 50-year-old looking to get $8,000 worth of cover, funeral insurance costs are on average under $11 a week.
Age
Weekly cost
Monthly cost
50
$10.80
$43.20
60
$14.97
$59.88
70
$26.79
$107.16
Prices shown are the initial premium in the first year, based on a sum insured of $8,000. Premiums may increase as you get older and be impacted by personal circumstances.
Get a funeral insurance quote to see how much you could pay
Why compare life insurance with Finder?
You pay the same price as buying directly from the life insurer.
We're not owned by an insurer (unlike other comparison sites).
We've done 100+ hours of policy research to help you understand what you're comparing.
What influences 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.
Watch out for stepped premiums
These increase as you age e.g. every year at the "policy anniversary" your premium is re-calculated. This could mean you end up paying more in premiums than the funeral itself. To avoid this, opt for level premiums.
Is funeral insurance worth it?
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. If you can afford it, life insurance may be a better value alternative.
How to ensure your insurance is less than the funeral
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.
Level premiums. Level premiums stay the same over time – stepped premiums go up ever year which can end up making the insurance cost more than the funeral itself.
Can you afford to pay for your funeral?
A 2022 Finder survey revealed that 53% of Australians – equivalent to over 10 million people – intend to pay for their funeral while they're still alive.
Funeral insurance costs: smoker vs non-smoker?
We compared two quotes using the same details and changing the smoker status. These were the results.
Status
Monthly cost
Smoker
$48.71
Non-smoker
$30.56
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.
You pay the same as buying directly from the life insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
We're experts
Our team of life insurance experts have researched and rated dozens of policies as part of our Finder Awards and published 250+ guides to make it easier for you to compare.
We're independent
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of life insurance brands, making it easier for you to find a good deal.
We're here to help
Since 2016, we've helped 270,000+ people find life insurance by explaining your cover options, simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
Frequently asked questions
This is a decision for you to make. Some may find life insurance is a better-value option, in part because not all funeral insurance providers offer a payout guarantee (essentially, you could pay more in premiums than you get paid out). One of the pluses of standalone life cover is it does include a final expenses payout. This can help your family with immediate financial needs, such as paying for your funeral.
Not necessarily. We ran quotes for 3 Australian providers and found weekly cover for a 50-year-old may cost $10.80 per week on average. In September 2022, Finder research found policies cost $10.96 per week. Our research also found prices – on average – were a bit lower for 60 year-olds and 70 year-olds.
Ultimately, it's your call. In Australia, the entry age limits tend to range between 18 and 80.
In some circumstances, the government may provide financial assistance to help cover the cost of a funeral through the Pension Bonus Scheme. You can see if you're eligible for the Pension Bonus Scheme on Centrelink's website. You'll have had to have registered for this scheme before 1 July 2014, and meet other eligibility criteria.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Not sure who to trust when it comes to a funeral insurance companies? Compare quotes and providers with an adviser.
Feedback
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
