Saving on Funeral Costs

As with everything else, funeral and burial costs have risen over the years. Even a simple service and burial can cost more than expected. Pre-planning can prevent your loved ones from having to make decisions about your final wishes and help lower some of the costs.

The Funeral Rule

The Federal Trade Commission (FTC) requires funeral homes to disclose prices for the products and services they offer and provide customers with an itemized list. The funeral rule allows you to compare prices of funeral homes and choose only the services you want. Knowing the costs can help you make an informed decision without feeling pressured to choose expensive options you may not want.

Purchase Burial Insurance

Also called final expense insurance, burial insurance helps cover the costs of funeral arrangements, burial or cremation, medical bills, outstanding debts and legal issues. When you buy a policy, you typically choose the amount of coverage you want and name a beneficiary who will use the proceeds to pay your funeral and other costs. Coverage is generally available for people between the ages of 50 and 85 (75 in some states).

Pre-need Insurance

Pre-need insurance is a contract with a specific funeral service provider. You select the products and services you desire. The insurance payout goes directly to the funeral service provider instead of to designated beneficiaries. Your insurance professional can explain burial insurance in more detail.

Cutting Funeral Costs

There are several ways to save on the cost of a funeral.

• Cremation is less expensive because it does away with the need for embalming, a casket, and a cemetery plot.


• A simple wake and service that family members, rather than the funeral director, manage can save money.


• Arranging for direct burial eliminates embalming costs and the cost of facilities for a wake and service.

A Different Option

You may want to consider donating your body to a medical facility or research center. There is no cost to donors, and your donation helps researchers learn more about the body and certain diseases.