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.
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.