Saving on Funeral Costs and Final Expenses

Like everything else, funeral and burial costs have risen over the years. Even a basic service and burial can become more costly than expected. Pre-planning can help your loved ones avoid difficult decisions about your final wishes and can also lower some expenses.

The Funeral Rule

The Federal Trade Commission (FTC) requires funeral homes to disclose prices for their products and services and provide customers with an itemized list. The funeral rule allows you to compare funeral home prices and choose only the services you want. Knowing the costs helps you make an informed decision without feeling pressured to select more expensive options you might not need.

Purchase Burial Insurance

Also called final expense insurance, burial insurance helps pay for funeral arrangements, burial or cremation, medical bills, outstanding debts, and legal issues. When buying a policy, you usually choose the coverage amount and name a beneficiary who will use the proceeds to cover your funeral and other related costs. Coverage is typically available for individuals aged 50 to 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 want. 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 reduce funeral expenses.

• Cremation costs less because it eliminates the need for embalming, a casket, and a cemetery plot.


• A simple wake and service managed by family members instead of the funeral director can save money.


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

A Different Option

You might 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.