More than half of U.S. adults aged 45 and older estimate the cost of a funeral at less than $10,000, yet the actual costs are actually somewhere between $15,000 and $20,000, according to Choice Mutual's 2025 Funeral Cost Perception Report. In other words, there's a pretty big gap between what many adults expect to pay for funeral services and the real cost families are shouldering.
Funerals Are Far More Expensive Than Many Realize
"Most people underestimate just how much funeral expenses can add up to — when you factor in funeral services, the casket, printed materials, professional services, body transportation and preparation, the total can easily approach $15,000 to $20,000," said Anthony Martin, CEO of Choice Mutual. "That gap between perception and reality often leaves families unprepared."
Don't Miss:
- The ‘ChatGPT of Marketing' Just Opened a $0.81/Share Round — 10,000+ Investors Are Already In
- An EA Co-Founder Shapes This VC Backed Marketplace—Now You Can Invest in Gaming's Next Big Platform
For example, the National Funeral Directors Association lists a national average cost of approximately $8,300 for a funeral with burial and casket, but that number often reflects only a subset of full-service expenses and thus under-reports what many end up paying.
Apart from the core funeral service, things like obituary notices, venue rental for a gathering, food and drinks for attendees, signage, and extras such as flowers and printed programs could add even more to the total cost. This disconnect that many families have between expectation and reality can leave them vulnerable to unexpected expenses during an already difficult time.
Among adults older than 45 surveyed, 30% say they have not thought at all about how they'll cover their own funeral costs, with men less likely than women to have considered it. Gender also affects how adults approach responsibility for funeral costs. Among the same age group, 85% of women view covering funeral expenses as a personal responsibility, compared to 79% of men.
When no one takes clear ownership of funeral planning or funding, it often results in hasty last-minute decisions and unnecessary stress.
Trending: Bill Gates Says Climate Change ‘Needs to Be Solved' — This Award-Winning Building Material Is Tackling It Head-On
How to Stay Prepared
Here's what you can do to prepare yourself and your loved ones financially for when the time comes:
- Request a detailed cost breakdown. Get information from a local funeral home ahead of time so you know exactly what the costs are, including transportation, body preparation, printed materials, and post-service gathering costs.
- Consider alternatives. Consider less expensive alternatives like direct cremation or a simple memorial instead of a full burial with a casket.
- Set aside money for final expenses. If you haven't already, start setting money aside for final expenses. You never know when you might need it.
- Communicate with family. Share your wishes and your financial plans with your loved ones so that there won't be any surprise burdens or miscommunication down the line.
Read Next:
- Forget Flipping Houses—This Fund Lets You Invest in Home Equity Like Wall Street Does
- From Moxy Hotels to $12B in Real Estate — The Firm Behind NYC's Trendiest Properties Is Letting Individual Investors In.
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
