Cost of a Funeral

[souldeux]

If I'm not mistaken, the cost of a funeral historically doubles every ten to fifteen years. If your client has a good twenty years ahead of them, that's something to factor in.

 

[Newby]

If I'm not mistaken, the cost of a funeral historically doubles every ten to fifteen years. If your client has a good twenty years ahead of them, that's something to factor in.

Yes, you factor in 4.5% average annual inflation. That will usually be pretty accurate if you look back over long periods of time (20+ years).

 

[BNTRS]

Cost of a funeral is one thing, but if were're going to talk to someone about final expenses, do we want to ignore the possibility that they might have medical expenses that might not just disapear upon their passing? What happens if I die after a long sickness? Final expenses can be a lot more than most of us talk about.

 

[stormtracker]

The cost of the funeral is directly proportional to the death benefit of the policy. If the policy is worth $8000, the funeral will cost $8000. If the policy is worth $10,000; the funeral will cost $10,000. Got it???

 

[Newby]

The cost of the funeral is directly proportional to the death benefit of the policy. If the policy is worth $8000, the funeral will cost $8000. If the policy is worth $10,000; the funeral will cost $10,000. Got it???

I can guarantee you that is not true. Most people's "burial" policy is way too small. Funeral homes don't lower thier price to match the policy. It's rare that someone has more than they need unless they die young and still has term in force.

 

[arnguy]

....You are what you eat.

OMG, Bob, is that for real? Now I am really worried, if you know what I mean.

 

[somarco]

Arn, you are such a cunning linguist . . .

 

[jdeasy]

The cost of the funeral is directly proportional to the death benefit of the policy. If the policy is worth $8000, the funeral will cost $8000. If the policy is worth $10,000; the funeral will cost $10,000. Got it???

While not exactly right, there is a lot of truth in that. Now, if the funeral is $8000 and the deceased has a $6000 policy, the funeral home will want that $2000 from somebody. However, if the funeral is $8000 and the deceased has a $10,000 policy with the funeral home as beneficiary, that $8000 funeral will magically become $10,000.

 

[Newby]

I'm not saying it has never happened...but that would be pretty easy to expose since funeral homes are one of the only industries that has to clearly list their prices on a standardized form for all to see.

 

[jdeasy]

I'm not saying it has never happened...but that would be pretty easy to expose since funeral homes are one of the only industries that has to clearly list their prices on a standardized form for all to see.

Did you ever see the episode of Taxi when Reverend Jim bought the racehorse?