There are a few ceremonies that virtually every culture on Earth celebrates: birth, the coming of age, marriage, and death. Funerals can be surprisingly expensive. Even a fast and simple ceremony can cost several thousand dollars, and if you want something more involved it can cost $10,000 or more.
Breaking Down The Funeral Costs
From start to finish, there are several things your family may have to pay for to conduct a funeral. Here are a few of the more common expenses and some estimated costs:
- Embalming: $500
- Casket: $2,300
- Renting the funeral home: $500
- Flowers: $500
- Gravesite: $1,000
- Grave digging: $600
- Grave liner: $1,000
- Headstone or marker: $1,500
- Funeral director’s service fee: $1,500
Even if your family chooses cremation rather than burial, they’ll need to pay for the cremation, the urn, and possibly a disposal fee if you want your ashes spread somewhere specific. No matter what, a death involves a lot of final expenses.
Simple Burials Aren’t So Simple
Funeral homes are required by law to offer a simple, low-cost option for families who can’t afford a full funeral or for people who don’t want a big ceremony when they pass. This removes costs like renting the funeral home for a viewing, buying a fancy casket, and embalming the body, but even then the handling and burial fees will add up to around $1,000 to $2,500 depending on the funeral home and the location. That’s a significant amount of money to some households, and it usually needs paying right away.
Understanding The Extra Fees
Final expenses can also include a lot more than just the funeral. There are legal fees that come with executing a will and disposing of an estate. If you want copies of the death certificate, you’ll need to pay a fee for each one. If you want a wake or a memorial service, that will cost extra thanks to the venue rentals, catering, decorations, invitations, and so on. A death might also demand transportation costs if you happen to die far from home.
Exploring Your Solutions
Coming up with the money for a funeral isn’t always easy, especially since the timing is usually unexpected and settling your estate generally takes longer than the funeral and burial. That’s why many seniors plan things out ahead of time by reserving graveyard plots and arranging things with a funeral home. They can then prepay for the full ceremony, or they can take out enough burial insurance to cover the costs. Burial insurance is a kind of full life insurance, so it will go directly to your beneficiary without having to wait for the estate to clear the legal hurdles.
A funeral always costs a lot of money, and this cost comes when your family is already dealing with stress and grief. Buying a burial insurance policy helps to cover these costs and removes a big source of stress. If that sounds like something you’d like to consider, speak with an insurance broker today.