Funerals can be financially difficult and emotionally draining, especially when folks have just lost their loved ones. However, being prepared for potentially high funeral costs can be extremely helpful. Choosing a funeral home ahead of time, investing in life insurance and talking about what should happen with your remains can all lay the groundwork for saving money and making life easier on survivors. Nobody wants to spend much time talking about their own funerals, but we've saved you the trouble by compiling some of the most vital, need-to-know facts about funeral costs. Read on to learn more about what to expect and how to prepare for the financial aspects of funerals.
Funeral homes must provide you with written, itemized price lists if you're planning a funeral. This is a Federal Trade Commission rule designed to prevent predatory behavior against people in their most vulnerable moments. You can also get price lists for caskets.
Always shop around when planning for funeral services. The costs between providers can vary by thousands of dollars. Ask for price quotes from different funeral homes so you can get side-by-side comparisons of all your options.
Cremations can cut the cost of funerals by half while also removing the associated fees (several thousand more) if you'd prefer for ashes to be scattered rather than vaulted. Cremation is becoming an increasingly popular option.
Life insurance policies can provide families with thousands of dollars for funeral services when their loved ones pass. Often, the payments from life insurance policies are enough to cover costs. However, life insurance isn't something that can be bought at the last minute.
You do not need to buy caskets and urns from funeral homes where you schedule services. In fact, funeral directors are prohibited by law from charging additional fees for supplying your own urn or casket.
The average cost of a funeral in the United States is roughly $6,600, according to the National Funeral Directors Association. In addition, people must also brace for around $3,000 more for associated gravesite or vault costs, according to the Funeral Consumers Alliance.
Not all states require embalming for wakes. Check with your state's guidelines to see if your state is among those. Some families opt to save money with funeral homes that do refrigeration rather than embalming, although this can't be done under all circumstances.
Caskets can cost as much or as little as you'd like to pay. Higher-end caskets can easily cost $10,000 or more, but budget-conscious families can find simple pine boxes for just hundreds of dollars.