How much do funerals costs anyway?
No doubt about it—funerals are expensive, and funeral financing options aren’t always clear. In the United States, the average funeral can cost $11,000 or more.
It doesn’t seem like it should include many expenditures, but there’s a lot that goes into funeral costs. Depending on the wishes of the bereaved, costs can include expenses such as transfer of the remains, burial, cremation or embalming, services from a funeral home, funeral programs, flowers, and more.
Typical Funeral Financing Options
So when it comes to funeral financing, it’s important to know your options. Here are the 5 best ways to fund a funeral or cremation:
- Pay for it yourself. Some people have Rainy Day funds for vacations and big expenditures like cars, but you could also just set aside money and pay upfront for the funeral. If you don’t set aside any money, you could also apply for a funeral loan. Funeral loans generally can be acquired quickly (a big advantage), but they do incur interest costs over time.
- Participate in a payment plan with a funeral home. Some funeral homes provide in-house payment plans through their business. The way this would work is that you opt-in to their program and pay them a portion of the bill each month, typically over six to twelve months.
- Crowdfund your funeral—or leave it to your family. Not everyone plans ahead when it comes to funerals. In lieu of flowers or cards, you could instead encourage people to send money via a site like GoFundMe to procure funds. This can relieve the burden on your family, but also adds a burden of getting your friends and family members to collectively pay for your funeral.
- Pre-need insurance to help your family mourn in peace. When a friend or family member passes away, often the last thing close relatives and acquaintances want to do is think about planning the funeral, as they still may be in a state of shock and grieving. Pre-need insurance plans—which are usually organized through mortuaries, cemeteries, and insurance companies—are policies that cover funeral expenses, usually with a locked-in price that will be significantly lower than when the buyer eventually passes.
- Seek help from Funeral Help. Funeral Help offers funeral financing up to $10,000. Start by telling Funeral Help how much money you need, then we give you an immediate decision (all without affecting your credit score). If you accept the funeral loan, we fund your expenses directly with the funeral home or mortuary.
For more information on how Funeral Help can help you with financing your funeral, visit our FAQs page or give us a call at (844) 311-7772.