Planning out a funeral can be a stressful situation for anyone. Like all sudden expenses, a funeral payment plan can be as just as complicated and difficult to navigate. Like buying a car, there may be a lot of unnecessary fees and bargaining that comes with the cost of a funeral, but the right know-how can make it less daunting, while also considering how title loans from LoanMart can pay for a funeral.
But before talking about title loans, the biggest secret about the funeral payment plan is that there is no fixed price. Every funeral home varies in pricing. This is because funeral homes are not regulated by the government, which means they can set their own prices.
Many funeral directors have also been found up-selling their services by increasing the price of the following:
- Casket Open/Close Viewing
- Preparations for the body
- Other parts of the funeral payment plan
In this way, funeral homes bundle them into a much more expensive package for customers. As a result, many people are paying more than funeral homes would regularly charge. According to the National Funeral Directors Association (NFDA), the National Median Cost of an Adult Funeral with Viewing and Burial in 2017 was $7,350 and will likely continue to increase each year.
Not wanting to pay more than $10,000 to a funeral home? Here’s a few tips on how to lower the price and pay for the funeral.
Saving Money on the Ceremony: Types of Funerals to Choose From
A typical funeral is not the single, default choice in funeral homes, and new innovations have several choices for people to choose from. Many alternatives to regular funeral ceremonies also tend to be the cheaper decisions for the funeral payment plan altogether.
A list of some of the different types of funerals include the following:
- Body Donation: One of the easiest ways to save money on the funeral payment plan. Most organizations also tend to absorb the costs on the body donation, as well as the subsequent cremation done.
- Direct Burial: Costs on the embalming and casket viewing are taken out of the picture for this choice. A grave site service can typically be hosted by either the family, clergy, or the funeral director.
- Direct Cremation: Like a direct burial, embalming and casket fees are eliminated with a direct cremation, while also taking out fees for a burial plot. A memorial service can also still be held at the time of cremation, or at a later date.
- Home Funeral: The cost of funeral homes is skipped altogether, leaving only the planner to pay for death certificates, a burial plot, and a casket. Home funeral guides are typically operated via volunteer or donation to help you in preparing and honoring the loved one at the household funeral ceremony.
- Green Burial: A standard burial, but with an environmentally friendly twist. By going green for a funeral, you could save big on the funeral payment plan, which includes embalming fees, as well as the typical burial costs. The latter requires one to find a cemetery that offers natural burial grounds, which do not permit the use of a burial liner or a burial vault.
Putting Cash Upfront: Funeral Payment Plan Options
After driving the costs down, comparing prices at all funeral homes, and picking the type of funeral to plan, it’s time to discuss the funeral payment plan options. Like most ceremonial-based purchases, there are several ways to pay for a funeral.
The “simple” way of paying for a funeral in one go is paying in cash or check. All funeral homes have a funeral director. Like any entrepreneur, they will tend to give you the price they want for the funeral. With cash payment, you tend to have some negotiating power over the price.
Bartering skills are also essential in the funeral payment plan. If you are willing to pay this way, here are some things to keep in mind:
- Funeral Homes are a business: Do not allow them to know anything that may indicate your financial situation or income. This information can change the funeral payment plan and increase costs. Funeral homes may even take advantage of your emotions in justifying their prices (e.g. “your loved one would’ve wanted this”)
- Don’t Be Afraid, Be Informed: As aforementioned, many funeral homes will try to upsell for their services. By pre-planning and putting some time in researching the funeral homes in your area, you have a better chance of negotiating the most affordable funeral payment plan for you.
For those who may not be able to pay in full, there are several opportunities and ways of financing a funeral payment plan through a variety of organizations, methods and government assistance packages.
Although many of these funeral payment plan options could prove beneficial, you should always research your state and local laws to see if any of the options are valid or possible in your area:
- Credit Financing, or Funeral Loan
- Splitting the Funeral Payment Plan Between Family Members
- Organizing a Fund-Raising Event
- Online Crowdfunding a Funeral
- Charitable and Community Assistance
- Employer or Union Benefits
- Accident Compensation or Victim Compensation
- Embassy/Consulate Help
- Social Security Lump-Sum Death Payment
- Indigent Burial Assistance Programs
- Pre-need Funeral Contract or Funeral Insurance Policy
- Life Insurance Policy Assignment
- Funds within the Deceased’s Estate
But if you are looking for a fast and convenient way to gain some income for a funeral payment plan, you might want to consider title loans.
Car title loans from LoanMart are so efficient, you may even receive your funding as soon as the next business day3!
Car title loans can be the great way for you to get a little extra money that could pay a significant part of the funeral payment plan costs. This is because LoanMart car title loans come with a bunch of benefits and advantages. Here are just a few:
- High approval rate1
- Fast funding
- Competitive terms
- Convenient rates
- No balloon payments or early installment fees