National Funeral Directors Association statistics give a breakdown of the cost of average common funeral types. However, those savings haven’t historically trickled down to the customer. A larger business network means lower costs when services can be streamlined, resources pooled, and supplies bought in bulk. A gradual move in the funeral market toward large corporations and away from local businesses also increased those providers’ profit margins. Social shifts toward privacy and sanitation moved final rites to dedicated areas, driving up operation costs.
Funeral services were once held in the home of the deceased. The rising prices have been noted by more than just the families who are left to pay the price.Ī Forbes article explained that monetary inflation and increasing overhead costs in the industry are partly to blame for growing sticker prices on funerals. Year after year, the price of laying our loved ones to rest has increased across the world, with the median cost increasing almost a third over the past 10 years. Why Your Final Expenses Could Be More Than You Think Let’s take a look at why this insurance is important and the difference between plan types. While a will may not be found until after funeral services have occurred, final expense insurance makes sure funds are allocated and available for your family when they’re needed. That’s why many people choose final expense insurance or other funeral insurance. Writing something down, even something as final as a last will and testament, doesn’t ensure it will be remembered or interpreted correctly.
There’s another lesson here: No one likes being misquoted, especially when it comes to their final wishes. (Aren’t you more familiar with the abridged version, “Nothing is certain but death and taxes”?) Not only has the quotation been garbled, it’s been mistakenly attributed to both Mark Twain and Daniel Defoe. The famous statement has also been subject to a game of historical telephone after centuries of misquoting. Both of these inevitabilities leave bills that must be paid. However, the similarity between death and taxes doesn’t end with this certainty. As Ben Franklin famously wrote in a 1789 letter, “In this world nothing can be said to be certain, except death and taxes.” Mr.
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