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A Guide to the Financial Preparations for a Funeral

Funeral preparations are vital for every family but it’s never easy to sufficiently prepare even if you’ve had time to prepare for the passing of a loved one. So, in an effort to make sure arrangements go as smoothly as possible, here is a guide to dealing with some of the more pressing concerns:


This is a list of the expenses you might expect for the average funeral:

  • Transport – This refers to the transport of your loved one from place of death to the funeral providers and then to the final resting place on the day of the funeral
  • The Final Resting Place – Some people buy their plot while they are still alive to alleviate some of the financial strain, but if this is not the case, try to imagine where your loved one would like to be buried/cremated
  • The Service – You will have to consider invitation costs, venue, separate venue for the wake/reception, any refreshments and food etc
  • Embalming and Coffin – These are an essential part of the process and will be carried out by your funeral director
  • Flowers – You will need flowers for your service, the grave side and perhaps even the transport
  • The Headstone – If your loved one has chosen a burial, the headstone often comes after the service but it is still a big concern in terms of finance
  • Extras – This could include the obituary, arranging for singers or other musical performers to appear at the service or the reception etc

Overall, with all things concerned, a funeral can come at quite a cost and if there is no insurance policy in place, the amount to be paid is generally divided between children or relatives.

If a life insurance policy has been taken out by the departed, the funeral arrangements are usually a lot more straight-forward.

Simply take a copy of the policy to the funeral home, the director will be able to forward this to the insurance company who will simply provide the funeral home with a cheque to cover all the expenses.

The outstanding balance on the policy will then be divided and given to the beneficiaries listed on the policy.

Many funeral homes now deal with flowers, transport, the cost of coffins and embalming, the headstone and even obituaries, so a large amount of the more expensive aspects can be taken care of in one place, making a life insurance policy a massive benefit to the loved ones of the departed.

A life insurance policy can really help if you are thinking of easing the financial costs of a funeral after you are gone. Always check with your policy provider, but the plans that generally cover funeral expenses include:

  • Over 50s Plan – Over 50s plans are generally whole of life policies and anyone between the age of 50 and 80 can take one out. Your beneficiaries should receive a lump sum in the event of death
  • Whole of Life Cover – Whole of life policies are similar to over 50s plans but any age range is eligible

If your life insurance policy comes under another umbrella, such as term insurance and you are concerned about funeral expenses, you could always ask your policy provider if funeral cover could be added as an extra on your existing premiums.

If you have any further questions, please don’t hesitate to contact us here.