A Dead-Serious Plan That Will Save You Thousands

Brian Kehm By Brian Kehm, Financial Research Associate, The Oxford Club

Market Trends

Losing a loved one is extremely difficult. And when you’re emotionally fragile and grief-stricken, planning a funeral is even harder.

Funeral homes know this. They’re for-profit companies, and their industry is booming thanks to the world’s growing (and grieving) population.

You see, the global population has increased by 400% over the last 100 years.

So funeral businesses are busier than ever peddling their services to vulnerable folks who may not have the wherewithal to make smart financial choices.

But, with a few simple steps today, you can safeguard your family and your fortune against exploitation by money-hungry funeral companies.

Weigh Your Options

One of the costly decisions to consider is whether or not embalming is important to you. To some folks, it’s essential. To others, it’s unnecessary.

Most morticians will readily provide the service if you wish. Embalming can range from $495 to $1,290, and that price often includes dressing and cosmetology.

Be aware that embalming is not required by federal law. Certain states have laws that require it in some circumstances, so it’s up to you to do your homework.

Embalming isn’t the only option for preservation. Refrigeration is an effective alternative that also tends to be less expensive.

But like most for-profit businesses, funeral homes push their expensive products first. And since many grieving families come in without a plan, it’s easy to upsell them.

Caskets are another good example. They can cost as much as $10,000 depending on the material and finish you select.


But if you have an idea of what you or your loved one wants ahead of time, it’s easier to select a casket that matches your personal wishes and your budget.

The Booming Business of Death

With all of the services and options offered, it’s not difficult to understand how funeral homes turn a handsome profit.

You probably think of your town’s funeral home as a local mom-and-pop shop. So if you patronize it, you’re at least keeping your money in the community, right?

Think again…

Many little funeral homes are owned by huge corporations. They keep their original names so no one notices.

In fact, there’s a good chance that the funeral home located in your town is owned or operated by Service Corp. International (NYSE: SCI).

Service Corp. is the largest funeral company in the country. It’s valued at more than $5 billion, and its revenue is soaring higher.

serv-corp-intl-revenue

Funeral homes turn death into big business. They’re filling their coffers with grieving families’ cash.

That’s why I’m encouraging you to plan today. A quick chat can save you thousands.

Compare your local funeral homes’ costs. Visit their showrooms and check out the options, products and services they offer.

Weigh the sentimental value and costs of items and services like…

  • Caskets and outer burial containers
  • Embalming
  • Cremation and urns
  • Visitations and viewing services
  • Funerals or memorial services
  • Graveside services
  • Hearses and transportation.

Then have a frank conversation with your close family members, spouse, children or friends, and create your action plan today.

I’m personally leaning toward an urn that creates life. These are biodegradable vessels containing ashes and a seed that will grow into a tree. But to each their own.

A simple plan can save your family big money and needless stress.

Some funeral homes even let you prepay… but be wary, you just might outlive that funeral home.

Don’t forget, they’re for-profit businesses that can go bankrupt.

In life, there are two certainties: death and taxes. Plan for both to limit financial stress and live a wealthy life.

Good investing,

Brian