Variations in funeral-related costs of older adults and the role of preneed funeral contracts and type of disposition

Based on this 1995 study of 163 families in the Kansas City area who experi enced the death of a loved one age 50+ in the previous months, we found tha t combined funeral and cemetery-related costs ranged from $195 to over $14, 000. We also report ranges in costs for caskets, outer burial containers, c emetery expenses, and funeral home costs. Total final costs were regressed on two independent variables, 1) presence of a preneed funeral home contrac t and, 2) type of body disposition (burial versus cremation). This model ex plained over 40 percent of the variation in total final costs. Final costs for decedents who were cremated were $4,426 less than their buried counterp arts, and those with a preneed contract spent about $1,600 less. Implicatio ns for families and for helping professionals who may have interactions wit h families around the time of death are provided. Readers are cautioned tha t the purchase of a preneed funeral contract is not without financial risk; the financial risk varies from state to state. Other options of setting fu nds aside to cover final arrangements are discussed.