The Realistic Cost for a Funeral
The prices for a funeral of any kind have been steadily rising for over 20 years. Based on the past and rising inflation, prices will continually get higher in the future. Here we will break down the pricing of a cremation and burial according to the National Funeral Directors Association (NFDA). The average price of a funeral in Texas is $6,375. This does not cover the cost of a casket, urn, or headstone.
The cost of casket can range from $2,000 to $5,000, burial plot can range from $350-$5,000, and headstone can cost between $2,000 to $5,000. The NFDA estimates the median cost of a funeral and burial at about?$9,420. This price could be higher or lower, depending on what you choose as part of the burial.
They estimate the?average funeral cost with cremation is around?$7,000. Services for cremation can be between $1,000 to $3,000 on the lower end but can cost as much as $6,000 to $8,000, depending on what you select. According to the?2020 NFDA Cremation & Burial Report, the cremation rate was at 56% and is projected to reach over 63% by the year 2025. The prices will continue to increase as more people choose cremations over burials.
There is one thing to note and that is every state and funeral home will charge different prices. There is not one set amount for any service. Below are some examples of prices you could pay for these services. Just note these are not standard and are only an estimate.
Funeral home’s basic service fee (cannot be declined)-$2,300
Transporting remains to funeral home-$350
Embalming-$775
Preparing the body in other ways, such as makeup and hair styling-$275
Hearse-$350
Your rights under the “Funeral Rule”
The Funeral Rule gives you the right to: Buy only goods and services you want, be offered pricing information by phone, be provided with an itemized statement of all goods and services, see a list of casket prices, be offered a price list for outer burial containers, be provided with a written statement prior to making any payments, select an alternative container for cremation, provide your own casket or urn and decline embalming prior to a funeral.
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How to keep the overall price lower:
There are some ways you can ensure to have a lower cost when setting up a funeral or cremation. You can start by shopping around for different funeral homes. You do not have to choose a specific one unless there is only one anywhere close to your location. You can buy a gravestone or marker from a third-party dealer instead of the funeral home. You can buy the casket from someone besides the funeral home also. The same thing applies for an urn if you are wanting to do a cremation. You can use an urn or storage device of your choosing and the funeral home must abide by it.
You can also elect to have a direct burial, which means the body will not be embalmed and there won’t be any visitation by family or friends. You can elect to do a direct cremation, which follows along the same lines as a direct burial.
How to ensure all this can easily be paid for:
The answer is simple…. purchase a final expense life insurance policy that will cover all the things you want done with your funeral. Or if you are purchasing a policy for a family member, ensure the policy has what you both agree on. A final expense policy should be able to cover those necessities and then some.
For instance, if you deem that the funeral and all arrangements total to about $12,000, then you can assume you need to purchase a policy with at least that much of a death benefit. If you also have some debt, want something else paid for after passing, or just want to leave more money for your beneficiary, then always find a policy that offers a higher death benefit.
Most final expense policies only offer a max death benefit of $35,000 to $40,000. You should also consider that inflation will cause the prices of each of these burial expenses to go up higher. Therefore, you must project ahead and find a policy that will suit your needs. Good news is that it is easier to get approved with most final expense policies than other types of life insurance.
If you are having issues getting approved, then there are always the guaranteed issue type policies that do not look at your medical records or prescriptions.
If you want to ensure your family is able to pay for all your funeral or burial expenses, feel free to check out my website and send me a direct message. I love to chat with new people and ensure their families are taken care of.