wooden casket

March 21, 2020 2 min to read

How to save money on funeral expenses

Category : Finance

Funerals are not cheap. Usually, you will have to spend over $7,000, and that does not even count what you or your family will have to pay for flowers, a monument, and a cemetery plot.

Not many people like thinking about death, never mind having to prepare for it. However, doing a little planning can really help members of your family avoid having to make impulsive decisions when they are grieving.

There are many people who purchase life insurance to reduce the costs of final expenses. Writing a will, making clear what your final wishes are, and pre-planning some of the aspects of your funeral helps to manage these expenses.

Fortunately, many kinds of life insurance may be used to provide your family with funds to pay for funeral expenses.

Funeral expenses

The National Funeral Directors Association (NFDA) reports that in 2014, an adult funeral that includes a viewing and burial had a median cost of $7,181, while an adult funeral with a view and cremation had a median cost of $6,078.

The Federal Trade Commission does not require consumers to purchase funeral packages. This means you can select from among the products and services that are offered by funeral homes.

When you know what is involved in a typical funeral, it can help you determine what you want and don’t want. You can reduce your costs by choosing options that are less expensive or eliminating some services.

The following are the highest costs that are associated with funerals. The NFDA provided the median prices:

Basic services fee of $2,000. It covers such services as obtaining death certificates and permits, storing the body, planning the funeral service, and making arrangements with third parties- for example, with a cemetery. The funeral home will require this fee no matter what line items you select.

Metal casket $2,395. Over three-quarters of customers select a metal casket to use for the burial. However, they do have a tendency to cost more. However, prices of caskets vary widely, and one good way to cust funeral costs is to choose an economical one.

Funeral homes are required by federal law to accept cremation urns and caskets that are purchased elsewhere. Caskets and urns can be purchased online, both at major retailers like Costco, Wal-Mart, and Amazon, or at specialized funeral goods companies like…
Continue reading the article and learn more about funeral expenses on Life Is An Episode website.

You may also like these articles

  • How to get rid of your junk car and earn money at the same time
    Managing the matter of the junk car that sits on your driveway can be quite unpleasant. Most certainly you feel like being stuck with a pile of scrap metal in your hands.This usually happens when the repairs costs of a car exceed its value. Instead of paying all that mo...
  • Making the move from saving to investing
    If you want to become financially independent, you need a good plan. That plan needs to include both saving and investing money.After all, how do you plan to become financially independent if there’s no money to work with at the beginning?Saving money is tough but it’s ...
  • How to make money from your hobbies
    Almost everyone has something they’re good at outside of work. These hobbies can be turned into your main source of income if you’re passionate, resourceful and driven.You can even turn your hobby into a business in its own right. Depending on your skill you could freel...
  • Find out what no exam life insurance is and how to get it
    No exam life insurance is a type of life insurance that allows you to skip one of the most common steps of the traditional application process: the medical exam.Some no exam policies include several basic questions about your health and require medical records from your...

Leave a comment