Budgeting for a Funeral

If you’ve ever had to pay for a funeral, you know that working it into your budget can be a challenge. You’ve probably heard about people crowd-sourcing funerals when tragedy strikes and they’re unprepared. However, there are other ways to budget for a funeral.  

Burial insurance is one way to make sure your funeral expenses are covered. Also known as pre-need, burial, or final expense insurance, this is a type of insurance that goes directly toward your final expenses. Some life insurance policies have burial insurance written into their coverage.  

You can also preplan for your funeral, which can soften the financial blow by locking in today’s prices for a future need. Taking it a step further by pre-paying eliminates stress for your loved ones by ensuring your expenses will already be covered. If you don’t want to pre-pay, having a dedicated savings account specifically for your funeral expenses is a good way to make sure money is there when it’s needed.  

You can also make it easier to budget for the funeral by reducing your costs.  

  • Educate yourself on what’s available so you’ll know what you want and what you can do without. Learn all your options because funeral prices can vary widely. Funeral ceremonies, caskets, cremation, headstones and all the other elements of a person’s final arrangements come in various levels and price points and can often be modified to meet your needs.  
  • Talk to your funeral director, being straightforward about your budget. Funeral directors know the ins and outs of funerals and can help guide you in planning the one that’s right for you.  
  • Simplify your funeral. If it’s not important to you to have an elaborate service, opt for a simple graveside service without all the bells and whistles. Consider a potluck gathering instead of a catered reception. Think outside the box and look for ways to make it meaningful but modest.  
  • Make sure you’re getting all the benefits you’re due. Honorably discharged veterans, for example, are entitled to many different veterans’ burial benefits, which may include a free burial plot in certain cemeteries, a burial allowance, a burial flag and a government headstone. Veterans are not the only ones who can qualify for assistance with funeral costs. Those who receive government assistance can also qualify, and there are non-profit organizations that can help in certain situations.  

However, you plan to pay for your funeral, having a plan in place is the first important step in making sure your funeral goes the way you want. Mountain View Funeral Home, Memorial Park & Crematory has been helping people preplan for more than a century, and we’d love to help you. Call us at (253) 948-9895 for more information or request your free preplanning guide.

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