Funeral Cost: A Comprehensive Guide to Funeral Expenses
Death is an inevitable part of life's journey, and while it's a difficult topic to confront, it's essential to plan for the associated expenses.
Funerals can be a significant financial burden, but with proper understanding and preparation, you can navigate these costs with dignity and ensure your final wishes are respected. However you choose to be buried or celebrate your life in death, you have many options and many different price points to choose from. The important things you need to consider are what your ideal funeral would look like, what your budget is or should be, and how to set aside this money for your family after you are gone.
This comprehensive guide aims to provide valuable insights into the various components of funeral expenses, enabling you to make informed decisions and plan accordingly.
The Average Cost of a Funeral
According to the National Funeral Directors Association, in 2021, funerals with a burial averaged about $7,848, while cremation averages just slightly less at $6,971. However, these numbers do not even include the headstone, the cemetery plot, the obituary, or the urn if you choose cremation.
It’s crucial to understand that the funeral costs can vary significantly based on what type of burial or cremation you want, where your funeral will be, inflation, and when you die.
Funeral homes are there to help you figure out what price options work best for you. But keep in mind that funeral homes are in the business of death, and they need to make money just like any other business does. Do not rely on just one funeral home to get the most accurate prices for your area.
Major Funeral Expenses
Caskets
Caskets are one of the most significant expenses when it comes to funerals. The cost of a casket can average between $2,000 and $5,000. Caskets can range in price depending on the material, size, design, lining, and handles.
Material: Possible materials include wood, steel, copper, bronze, or fiberglass. Wood tends to be the least expensive, but this depends on the type of wood used.
Size: Larger caskets tend to be more expensive
Design: Caskets can get expensive very quickly if you want a casket with extra design and detail. Generally, the simpler the casket, the cheaper the cost. The most expensive caskets tend to have a lot of detail, embellishment, plating, and accessories.
Lining: The lining of the casket can add a significant cost. Caskets can be lined with velvet, silk, or polyester. Velvet is the most expensive option.
Check out another article talking about how to choose the best casket if you’re interested in reading more.
A Wide Range of Casket Options
Caskets are one of the most significant expenses when it comes to funerals. The cost of a casket can average between $2,000 and $5,000. With ‘green’ funerals on the rise, Titan Casket offers cardboard and unfinished wood options that can be much less expensive than a traditional casket, and biodegrade much faster. It’s OK to ask the funeral home if those are an option for your loved one if they don’t have one on display.
Obituary
Many people do not realize it costs money to have an obituary. Where the obituary is published plays a significant role in how much the obituary is going to cost. Newspapers usually charge by the line or by word count to have an obituary published. Therefore, the shorter the obituary, the lower the cost.
The cost of an obituary averages between $100 to $1,000 for a newspaper publication. If you want to save some money, you can also publish online, which averages about $100.
Headstones
Headstones or grave markers are another major cost. The average cost of a headstone averages from $1,000 to $3,000. The price can vary based on the type of material used, the headstone size, how many words are on the headstone, and where you are putting the headstone. Overall,the more basic the headstone, the cheaper it will cost.
Material: Different materials like granite, marble, or bronze have varying prices
Size: Larger headstones are more expensive
Inscription: The number of words or characters engraved can impact the cost
Cemetery Regulations: Each cemetery has different requirements for who installs the headstone and the type of headstone. Different cemeteries may have different pricing for the upkeep of the headstone over the years. If you have a certain cemetery you want to be buried in, it is best to contact them first to see what your options are.
Many people buy their headstones ahead of time, leaving the deceased date empty. People may do this if their spouse dies before they do or to save cost.
Types of Funeral Services
Traditional Funeral
Many people plan to have a traditional funeral after they die. Traditional funerals tend to be the most expensive. They are often referred to as full-service funerals because they usually have all the bells and whistles. Traditional funerals commonly have:
A viewing or a wake
A formal funeral service
A gathering with food and drinks
Transportation to the cemetery with a hearse
A formal burial service
Funeral homes that provide these services have many additional options and costs. These costs often include:
Embalming
Dressing and preparing the body
Renting the funeral space
Food and drinks
The person performing the service
Use of the hearse and transportation
The graveside service
Shop Around for Competitive Pricing
There is a lot that goes into planning a full-service funeral. Funeral homes often have packages that include many services in one package and take care of it for you. Check different funeral homes in your area to see what they offer and their prices.
Graveside Funeral
Another option you may have is a graveside funeral. Graveside funerals are a much cheaper option than traditional funerals. A graveside funeral is a shorter and simpler version of a traditional funeral. Instead of having the full service at a church or funeral home, the service is held right before the burial at the graveside.
Graveside funerals can be added to a traditional funeral or stand alone. Graveside funerals are a great option if you want a smaller funeral or want to save costs. The downside to graveside funerals and services is that the funeral's weather and time of year play a big part in the service. A cold or rainy day could take a little more preparation than a sunny and clear day.
Ways to Save Money on Funeral Costs
Just like anything in life, there are ways to cut costs and save money, even in death. The best way to save money is to research and plan ahead. When you or your family are in a rush to plan a funeral, they can quickly go with what is most accessible at the time. This is often the most expensive.
Get a plan in place and make sure your family knows of it. This will not only save money, but it will take a weight off their shoulders in their time of grief.
Burial Insurance
Many different insurance companies offer burial insurance or final expense insurance. These plans can cover not only the cost of a full funeral service but also medical bills and any other end-of-life care needed. You can get this insurance for yourself or for a loved one.
Prices for burial insurance premiums can vary based on the company. Most companies have a minimum age requirement that ranges from 40 to 60 years old. There are a variety of plans with coverage between $1,000 and $50,000.
While burial insurance might not be something you want to pay for every month, it could save your family a significant amount of money in their time of need.
Green Alternatives
Green alternatives are a great way not only to save costs but also to help the environment. There are many different ways to have a green burial. Many of these options are significantly cheaper than traditional funerals.
Ways to have a green burial are:
Skipping embalming and having a burial done within days of the death
Avoiding a casket by using a shroud – a natural cloth material used to wrap the body
Use a natural burial site as opposed to a traditional cemetery
Human composting
Donate your body to science
Donate Your Body
Donating your body to science is a great way to save money on a funeral and do something good, even in death. Instead of a traditional funeral, you can have a celebration of life. Depending on where you donate your body to, they will often pay for cremation after they have done their research.
Donating your body to science is also a great way to help others. Your body can be used to help students learn, provide valuable research about the human body, and possibly even cure diseases. Look into different places you can donate your body after you die if this is a process you are interested in.
Opt for a Simple Service
Much of the cost of a funeral is in the details. If you have a simple service soon after the death, you can decrease a significant portion of the expenses.
Instead of hiring someone to perform the service, have a close family member or friend do the honors. The smaller and simpler the funeral, the less it will cost.
Skipping the embalming can also save a considerable amount of money. You would have to perform the burial soon after death. However, some funeral homes require embalming. This is something to consider when deciding on a funeral home.
Savings Plans for Funeral Expenses
One thing many people save up for is their own funeral. But what is the best way to go about saving for a funeral and setting aside the funds for your family?
Many people rely on their life insurance policies to pay for their funerals. However, life insurance isn't usually paid out to the families in time to pay for the funeral unless you have burial insurance. Some insurance companies do have the option to pay a portion of the payment out to a third party, such as a funeral home, once approved.
Payable On Death (PDO) Accounts
In order to have your family able to use the funds for the funeral, you will need to set up an account with a joint account holder or a payable-on-death account. This is an account you can set up where the funds will go directly to whoever you designate on the account.
While it can vary by bank, you often only need to provide a death certificate to obtain this money. However, the death certificate may not be available before the funeral. Funeral homes often require payment upfront.
If you set up this type of account, ensure the payable-on-death beneficiary knows the account so they know where to get these funds after you die.
Prepaid Funeral Plans
Prepaid funeral plans are also an option for saving up for a funeral. What are prepaid funeral plans? Prepaid plans are when you pay for your own funeral before you die. This would take a lot of stress off your family and friends after you die. However, prepaid funeral plans can have some significant downsides.
You could die before you pay off the funeral. Your family would then have to pay the difference. The funeral home could also go out of business before you die. Your family would then be out the money you already spent for a funeral without a backup plan.
Your life could also change before you die. You could move to a different part of the country or decide you no longer want to go with that funeral home. If you choose to go with a prepaid funeral plan, make sure you have a contract in place for anything that could occur.
Prepaid funeral plans can be risky, but when they go according to plan, it can make life much easier for your family.
Irrevocable Funeral Trusts
Irrevocable funeral trusts are very similar to prepaid funeral plans. An irrevocable funeral trust is an account that you set up that is usually paid directly to a funeral home of your choice once you die. It could also be set up to go to an insurance company, which would then pay the funeral expenses.
Just like prepaid funeral plans, irrevocable funeral trusts have similar downsides and benefits. They can take a lot of the stress of planning and paying for a funeral off your family members. However, if you set up the trust to go to a specific funeral home, they could misuse the funds before your funeral or go out of business before your funeral.
You could set up a revocable funeral trust. You would then have full access to the account and would be able to access the money at any time.
Navigating the costs associated with funerals can be a daunting task, but with proper planning and understanding, you can ensure your final wishes are respected while minimizing the financial burden on your loved ones. By considering the various options available, from traditional funerals to cost-saving.
Ultimately, the key is to research and plan ahead. By having an open conversation with your family and consulting with multiple funeral homes, you can ensure your final wishes are respected while minimizing the financial impact on those you leave behind.
Remember, every situation is unique, and the right choices will depend on your personal preferences, budget, and circumstances. With careful consideration and proactive planning, you can navigate the inevitable cost of death with dignity and peace of mind.
Planning Ahead
However you choose to be buried or celebrate your life in death, you have many options and many different price points to choose from. With a little bit of planning, a funeral does not have to become a financial burden for your loved ones.
Written by: Yvette Parker
