In 2019, the National Funeral Directors Association (NDFA) published a comprehensive report on cremation and burial, shedding light on the costs and trends within the funeral industry. These insights provide valuable information about funeral expenses and burial costs, giving us a deeper understanding of recent developments.
Examining the latest report, we recognize the significance of having a burial insurance policy, particularly for individuals who wish to spare their loved ones from the financial burden associated with cremation and burial. It becomes increasingly apparent that proactive planning and securing appropriate coverage can alleviate potential hardships for your family during this challenging time.
What is the cost of cremation?
The decision to choose cremation over traditional burials has been increasing steadily since 2015, and there are several factors contributing to this trend. One significant reason is the affordability. So, how much does it cost for cremation services? According to a report by the NDFA in 2019, the median cost of a funeral that includes cremation is $5,150.
The NDFA determines the median cost by considering various elements, such as the basic services fee, the transfer of remains to the funeral home, embalming and body preparation, the use of facilities and staff for viewing and funeral ceremonies, the service car or van, basic memorial printing package, and the cremation fee. It’s important to note that the median cost does not cover the cremation casket or container, which is usually necessary to ensure respectful handling of the deceased. Additionally, the cost doesn’t include expenses for an urn, vault, cemetery monument or marker, and other miscellaneous cash advance charges.
National Median Cost of an Adult Funeral with Viewing and Cremation in 2019
- Nondeclinable basic services fee $2,195
- Removal/transfer of remains to funeral home $350
- Embalming $750
- Other preparation of the body $255
- Use of facilities/staff for viewing $425
- Use of facilities/staff for funeral ceremony $500
- Service car/van $150
- Printed materials (basic memorial package) $175
- Cremation fee (if firm uses a third-party)* $350
Total Without Cremation Casket and Urn $5,150
Cremation casket $1,200
Total With Cremation Casket and Urn $6,645
*71.1% of respondents use a third-party crematory (i.e., the funeral home does not own a crematory)
What is the cost of a funeral?
The NDFA has provided information on the median cost of a burial funeral, which amounts to nearly $8,000. It’s important to note that this figure does not include the cost of the cemetery plot, which can vary depending on the landowner and range from a few hundred to a few thousand dollars. Moreover, any additional requests or preferences would further increase the total cost into the tens of thousands of dollars.
Considering these expenses, it becomes evident that cremation offers a more affordable option, with costs being a few thousand dollars lower. However, if you still prefer the traditional route of a burial, it is essential to explore options that can ensure your family’s financial preparedness, such as obtaining a burial insurance policy.
What is the cost of burial insurance?
When considering the financial aspects of funeral or cremation costs, it can feel overwhelming to pre-pay thousands of dollars all at once. In such circumstances, the option of burial insurance, with its small monthly payments, can provide a more flexible solution that may resonate with you.
One of the remarkable advantages of burial insurance policies is that your money isn’t tied up solely with a single funeral home. Instead, you have the opportunity to purchase a policy that covers not only your funeral expenses but also other final costs. Furthermore, the beneficiary of the policy is a loved one of your choosing, rather than the funeral home.
The cost of a burial insurance policy varies depending on factors such as your age, health, and desired coverage amount. However, it’s worth noting that there are guaranteed issue policies available, where nearly everyone is accepted.
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