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Can we afford to die? 6 Estimating Cost of Death

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Can we afford to die? 6 Estimating Cost of Death

Death is a morbid topic that most of us may find difficult to talk about. While it is bearable for most people to refuse from discussing the issue, death is just a reality that no one can ever change. The fact that it takes a toll on both of our emotions and finances makes it imperative for everyone to at least have a better understanding of how much it costs to die. 

 

Death: Are you ready?

People try to discuss issues more seriously and ceremonial when it comes to money, which is why putting death and money in the same sentence can create a conversation that seems to be more difficult to handle. However, staying informed is the key to deliver accurate and successful management of all finances involving the issue of a loved one’s passing. From caskets to gravesites, we are going to cover the estimated value of all aspects that concern the cost of dying. Being informed guides you on your preparations towards saving and buying a life insurance policy that will cover your death expenditures in time to come.   

 

Average Funeral Cost 

It can be tricky to estimate the real cost of dying since average prices may vary from one state to another which may also increase over time. And what’s worse is the fact that most providers of funeral service and cemeteries are always expecting payment in full. Thus, having the estimated price in mind is very important to let you prepare for what you may owe in case a family member or a loved one passes away. Careful planning and preparation can help avoid hurting your finances all of a sudden. Let’s try to evaluate the average funeral cost according to research and industry studies conducted this year in Australia.

 

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Quick Stats:

  • The average burial cost in Australia ranges between $4,000 (basic cremation only) to $15,000 for a service package that may involve traditional funeral service, casket, burial, and flower arrangements. 
  • With an average cost that starts at $3,600, cremation with no funeral ceremony is much preferable compared to traditional complete extravagant internment in Australia. However, prices for cremation is still subject for an increase if you choose to avail with a burial ceremony package and receive the ashes in an urn to keep them in a niche or wall. 

 

Funeral Cost Breakdown 

The funeral comes in different bundles that usually cover the basic fundamentals including coffins, flower arrangments, burial ceremonies, and visitation. Price is usually set according to your choice of bundles and not per separate item, which makes it difficult to know where exactly the money is allotted to. Even if you are in your most vulnerable emotional state, it is still smart to be informed about the cost breakdown of your chosen funeral service package. Let us enumerate the following involved items.

 

Professional Service Fee

Funeral directors are usually paid with a professional service charge for organizing meetings and ceremonies, liaising with the cemeteries, arranging legal documentation,  embalming and transporting the deceased, organizing the decorations, and other related tasks. 

 

Coffin

The price for coffins may vary from your choice of design and production materials. It ranges between $800 (for basic caskets usually made of wooden materials) and $15,000. High-end coffins can cost up to $15,000 or more. 

Can we afford to die? Estimating the Cost of Death

 

Decorations

Decorations may include flower arrangements, framed photographs, video presentations, and maybe some complimentary champagne which usually adds up to the price. The average cost for a solo flower arrangement ranges from $30-$200 depending on your preference.   

 

Plot/Niche

The price for burial plots and cremation niches may depend on the cemetery as well as the size of space and location. Check average prices for your preferred type of plot below: 

Burial Niche Wall or Mausolea ($19,000 – $37,000)

Cremation Urn or Niche Wall ($2,800 – $6,200) 

Cremation Lawn ($3,500 – $4,500)

Burial Lawn ($10,000 – $18,000)

Burial or Monumental ($20,000 – $41,000)  

 

Viewing Sessions

Every viewing session may add up to the funeral cost. For a more economical option, you can include at least one viewing session on the same day as the funeral.     

 

Food and Other Expenses

In some states, funerals may require food serving on the viewing sessions so make sure to set aside your budget for food and other related expenses. The expense for food may depend on the length of the wake, the number of guests, and the type of food that you want to serve. 

 

 

Read more Finance related stories in The Weekly Trends magazine.

Sarah is a lifestyle blogger, a household chef on weekends, and a fan of Queen’s music at the same time. She doesn't speak that much so she'd fairly express her philosophies through pages of blogs, literary compositions, and imaginative tales. When she’s not writing, she spends her precious little time thinking of what to write next.

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