Will Funeral Costs Increase in 2021?

The cost of a funeral in 2021

End of life expenses, like funeral costs, can become overwhelming if the deceased doesn’t have the funds needed to cover those costs. In such cases, the bereaved family is left to pay for funeral costs out of pocket. Final expense insurance can help your family afford to bury you, but how much money will you need?

Average Funeral Costs 

Funerals aren’t cheap, especially if you also want to include other services like memorial services and burial gatherings. That said, the average funeral cost for people in the U.S. fell around $7,640 in 2019, according to the National Funeral Directors Association. This cost may be the average, but burial related items, like caskets, burial vaults, and gravestones can also increase the costs associated with funerals. In fact, the average funeral cost for people that use burial vaults was $8,508. This goes to show that the type of funeral you arrange and what add-ons are featured can significantly impact your burial costs. 

Cost For Cremation 

Cremation is typically less expensive than purchasing a burial plot, so you may be able to save money for your family by planning to be cremated instead of being buried. According to the National Funeral Directors Association, the average funeral with viewing and cremation cost $5,150 in 2019. Therefore, the cost difference is approximately $2,490. Though, you shouldn’t be forced to choose a cremation due to costs. Final expense insurance can help your family afford a burial if that is what you really desire. 

Funeral Cost Increases

In 2020, the COVID-19 pandemic caused more deaths than are regularly expected in the country. Because of this, some funeral professionals believe the cost of funerals may increase by a small percentage in 2021. To ensure that funeral costs don’t catch you or your family off guard, invest in final expense insurance now. 

Furthermore, the average funeral cost has steadily increased over time, as data presented by the National Funeral Directors Association shows the average burial cost in 2014 was $7,181. For cremations, the number sat at $4,798. While the difference is somewhat negligible for a 5 year period, you should still expect at least a minor increase in years to come. 

Pay Funeral Costs Easily

Don’t leave your family with the burden of paying for an expensive funeral on their own. Final expense insurance can provide them with the funds they need to ensure that you have the funeral you deserve. The agents at Final Expense Direct can help you get started. Give us a call at 1-877-674-0236 to speak with one of our agents.

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