Funeral Insurance Calculator.
Calculate funeral insurance costs vs self-insuring. Compare funeral bonds, insurance policies, and savings plans to cover end-of-life expenses.
Move the sliders or type in the form on the left — the math updates live as you go. Click Get AI verdict when you want a written analysis.
The average Australian funeral costs $7,000-$12,000 for a standard service, and costs are rising annually. Funeral insurance provides peace of mind that your family won't bear this financial burden during an already difficult time. However, funeral insurance isn't always the best option — ASIC and consumer groups have warned that many policies cost more in premiums than the eventual payout. This calculator compares funeral insurance, funeral bonds, and self-insuring to find the most cost-effective approach.
Real-world scenarios
Funeral Insurance at Age 55
Non-smoker, 55, wants $15,000 funeral cover.
Estimated premium: $40-$60/month. Life expectancy: ~30 more years. Total premiums: $14,400-$21,600. At $15,000 payout, you may pay MORE than you get back. Alternative: invest $40/month at 5% — you'd have $33,000+ in 30 years. Self-insuring is likely better at this age.
Funeral Bond for Age 70
70 years old, $12,000 funeral bond.
One-off payment of $12,000 into a funeral bond. Bond grows modestly (3-5% p.a.). In 15 years at 4%: worth $21,600. Centrelink assets test exempt (up to ~$14,000). No ongoing premiums, no risk of lapsing. Much more cost-effective than insurance at this age.