How To Financially Plan For A Funeral

Financially planning for a funeral is something that none of us want to do as it is a tedious and depressing task, but it is something we should all carefully consider so that our loved ones are not left struggling to give you the send off you deserve.

Funerals tend to be a lot more expensive than people imagine, so today we are going to be taking you through a few ways that you can start to plan for times ahead in an attempt to ease the process and make it seem less daunting for you and your loved ones.

  1. Plan and pay in advance

There is no stopping you yourself organizing all aspects of your funeral before the time comes so that your family doesn’t have to.

You can start making decisions such as whether you want a burial or cremation, the type of coffin you want and headstone arrangements, not only does this allow you to plan things the way that you want them, but being able to purchase in advance will likely save you and your family money.

Make sure that you write up a formal funeral plan that is set in concrete and provide this to your family members or family lawyers, especially if you are planning to leave a lump sum of money aside designated to the funeral itself.

  1. Take out funeral insurance

Taking out funeral insurance is another great way to plan ahead for the future and save your family the anxiety around planning a funeral.

There are so many different types of insurance that cover funerals such as burial insurance, funeral insurance, and final expenses insurance, so be sure to do some research to see which option best suits you and your family’s needs and budgets. Typically these types of insurances have a cover of between $25,000 to $40,000.

Another way to insure yourself against the costs associated with funerals is to take out life insurance that will cover you for the likes of medical bills and the funeral itself, these policies tend to cover up to around $50,000 with the benefactor being able to use this money to cover the end of life costs.

  1. Set up a funeral fund

If you are wanting to leave your loved ones some money aside that they can use to fund your funeral without you having to go to the trouble of pre-buying aspects such as the coffin etc, setting up a funeral fund or a separate bank account solely for this purpose is a great idea.

Each month you could aim to put away a certain amount of money that will in time build up so that your family members can access this when you have gone.

All you have to do is open a bank account with a ‘pay on death’ clause which means you nominate someone as a beneficiary upon opening your account, who will later be able to access funds to use towards your send off.

  1. Shop around

Planning ahead for yours or a loved one’s funeral means that you have the ability to shop around and find yourself the best deals. Funerals can be very expensive, so do some research online to calculate the average costs for each aspect such as coffin, burial and flowers, this way when it comes to actually purchasing them you have a guideline to budget and adhere to.

Many companies offer package deals that incorporate a number of different parts of the funeral, so this also may be a good way to save some money here and there without having to compromise on the way that the funeral is conducted.


As we suggested and are sure you are already aware, funerals can be an expensive part of life, but it is something that we are all likely to have some involvement in planning.

Throughout this post, we have discussed just a few of the ways that you can plan ahead for a funeral and get your finances in check so that your family members are left feeling assured and not like they have been left with the burden of planning and financing your send off.

We hope that the points we have raised have been helpful for both you and your loved ones and bring some ease to the planning process so that it seems less daunting and tedious.

If you have found out tips helpful, or have come across any that you feel we have missed out that may be of use to others, please be sure to let us know down below in the comments section!

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