National Funeral Cost Trends
The National Funeral Directors Association (NFDA) has been tracking the median cost of an adult funeral since 1960. The national median cost of a “casketed” funeral for the calendar year 2012 was $7,045. If a vault is included, something that is typically required in most states, the median cost was $8,343. That was a 13.5% increase from 2009. In the 20 year period from 1980 to 2000, the cost of a casketed funeral (excluding the vault cost) nearly tripled from $1,809 to $5,180!
The NFDA did not publish historical costs for services on their website for services with cremation. But they did state that the median cost of a casketed adult funeral with viewing and cremation was $5,410 in 2013.
While historical cost increases are never a perfect predictor of future increases, they provide an idea of what to expect in terms of funeral costs in the future. So when you’re doing your calculations to determine how much burial insurance to purchase, be sure to factor in your best informed estimate of future increases in funeral costs. Call Burial Insurance Expense today at 1 (888) 354-3364 so we can help you ensure that you’re adequately covered.