What To Know About Paying For A Funeral
Paying for a funeral isn't something to take lightly. There are so many different fees that can quickly rack up and add to the stress and sadness of the event. Teaching yourself about funeral costs and how to pay them without a bunch of money in the bank can relieve some of your financial worries. The good thing is this guide can really help you out.
How To Calculate Funeral Costs
Before we divulge the various ways you can pay for the funeral, you need to understand how to calculate the overall cost of a funeral. It can be a bit of a pain, but it's worth your time and effort, so you know just how much money you'll need to celebrate the life of your loved one. Here are a few things you should know.
1. Know The Basic Fees
When it comes to paying for a funeral, you need to understand the basic fees. The Funeral Rule allows funeral providers to charge a standard service fee that you must pay. Within this price, you get every service common to all funerals, regardless of anything too specific. These standard services include the following:
- Planning the funeral.
- Sheltering the remains.
- Obtaining various permits and copies of the death certificate.
- Preparing the notices.
- Coordinating funeral arrangements with the cemetery, crematorium, or other places.
2. Understand Charges For Other Services And Goods
When it comes to a funeral, there are things that aren’t included in the first price the funeral home gives you. These are things that are considered add-ons, which means you have to pay for them separately. Some of those optional services or goods that you pay separately include the following:
- Transporting the remains.
- Embalming and other body preparations.
- Use of the funeral home for viewing the deceased.
- Memorial service or ceremony.
- Use of equipment and staff for graveside services.
- Hearses or limousines.
- Caskets or outer burial containers.
- Cremation or interment.
Not everybody wants or needs the above at the funeral of their loved one. Therefore, you pay for these based on what you want. This is where the cost can really start adding up! Of course, these averages also vary by county or city. If you're holding the funeral in an affluent area, expect these costs to increase. Take a look at the list for the average prices of several goods and services:
- Transporting the body to the funeral home can cost between $395 and $700, with the average price being $547.
- Embalming can cost from $525 to $700, with the average price being $612.
- Body preparation (i.e., bathing, casketing, and dressing) can cost between $225 and $300, with the average price being $237.
- The casket can cost from $795 to $5,590, with the average price being $3,192.
3. Know Funeral Home Cash Advances
In this case, cash advances are the fees enacted by the funeral home for services and goods they acquire from third-party vendors on your behalf. Basically, your funeral provider may charge you for their costs only. But other funeral providers add a service fee to the grand total. This includes the following:
- Obituary notices.
- Officiating clergy.
- Organists and soloists.
As per The Funeral Rule, those who charge cash advances must disclose it in writing. However, they don't have to specify their markup. On top of that, The Rule also requires them to make you aware of refunds, rebates, or discounts from their suppliers. Make sure your funeral provider is disclosing this information.
Expensive Right? Here Are Some Ways To Help Pay For A Funeral
Once you know how to calculate the cost of paying for a funeral, you'll quickly realize how expensive it is and how necessary it is to save up. But thankfully, we've got various ways for you to fund the event – even if you don't have much money in the bank quite yet. Here are a few options for you.
1. Crime Victim Compensation Program
The first option you have to help in paying for a funeral is the Crime Victim Compensation Program. In Arizona, the Crime Victim Compensation Program gives victims' families up to $10,000 toward burial expenses of a victim of a crime. The cost is funded partly by the charges against the crime's perpetrator.
2. Social Security Office Death Benefit
Did you know you can obtain a one-time death benefit from the Social Security Office to help in paying for a funeral? Usually, with this benefit, you'll get $255, which goes to the deceased's surviving spouse or children. And as a veteran, you can get an extra $450 to help the surviving spouse or children.
3. Life Insurance
When it comes to paying for a funeral, some life insurance policies protect the deceased's family against financial loss. So, check whether your loved one's policy included this benefit. And if you or your spouse are talking about getting life insurance, it is worth asking whatever agency you are going with if they include this benefit in their packages.
4. Online Title Loan
Finally, you can get an online title loan from us at Fast Auto Loans, Inc. to help in paying for a funeral. You don't need a good credit score to find out if you qualify for this loan. Instead, you borrow between $300 and $15,000 based on the value of your car, truck, or van. It's a great way to pay for your funeral if you own your car outright.
Simply fill out the online form found on the top of our homepage, and one of our friendly loan representatives from the nearest Arizona online title loan location will call you back to discuss the requirements and set up an appointment for you to either come into the store or have us meet you somewhere.
Learn About Paying For A Funeral Today
As much as we may not want to think about funerals, it is important we know just how they’ll impact us financially. Take the time to learn all about paying for a funeral with this guide. And remember, as long as your car title is in your name, you can find out if you qualify for the loan in a few minutes! Complete the form now to get started.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.