Consumer Corner: Funeral costs are soaring. Here's how to pre-plan yours

'Till death do us part' takes on a new meaning when your family is left footing the bill of an expensive funeral you failed to anticipate

Debt can loom, even after death and your loved ones can be left footing the bill for the funeral.

With prices rising at a rapid rate, thinking about funeral costs could be the last thing on our minds. However, the cost of funerals is also rising and now averaging around €6,000. Making a plan for the future may not be such a bad idea. There is after all that old saying that "the only things certain in life are death and taxes." And Manchester United never winning the league again — but that’s for another day.

A survey from Royal London found that most Irish people put planning for a funeral at the bottom of their priority list. The survey revealed that 71% of people said they were not sure how their own memorial service would be paid for.

Barry McCutcheon, Propositions Lead at Royal London said that funerals can vary greatly in cost, depending on the choices and preferences of the deceased person and their family.

“Presuming that funeral costs will be met by family or not thinking about the issue at all is perhaps understandable. Although, failing to consider them could, potentially, generate some financial difficulty or unease for loved ones when the time comes.” Royal London looked at funeral pricing and found that one Dublin-based funeral director estimated anywhere between €2,950 and €7,500 for a traditional funeral, with burial plots alone ranging from €1,400 to €9,000 and upwards. Another funeral director in the Midlands quoted an approximate cost of €5,500 for a full funeral service.

Cremation services meanwhile are much less expensive, with fees among five crematoriums in the Dublin area ranging from €495 to €630. With prices only going one way at the moment, I’m sure we can expect these prices to increase.

Traditional funerals cost a lot more than cremations, and there are many hidden costs

An Post also looked at the cost of funerals recently and found that half the respondents surveyed want to be cremated instead of buried. Respondents from 18-24 were least likely to choose cremation and those over 65 were the most likely. The An Post survey also found that only one-third of people in Ireland feel that they are well prepared in terms of planning their own funeral, and knowing how the costs will be paid.

Interestingly, nearly one in three people were unable to estimate average funeral costs in Ireland, most likely due to the fact that 84% have not organised or paid for a funeral in Ireland in the last five years. With the average cost of a funeral coming in at just under €6,000, the estimated costs were slightly over-evaluated by those who haven’t paid or organised a funeral in recent times.

Gary Finnerty, Head of Marketing with An Post Insurance, said: “It’s encouraging to hear that so many people feel we need to be more open about discussing death and funeral arrangements. While it may seem insensitive to some, pre-planning your own funeral can take some of the burdens off loved ones at a difficult time while ensuring you get exactly the funeral you want.” Previously An Post looked at the cost of burial sites and found the most expensive burial site in the country in Deansgrange Dublin was €32,000 although the average was around €2,000. There are estimates too that by choosing cremation a person can save up to €10,000.

There are some products on the market that can help with funeral planning. The Credit Union has always had a range of products for funeral planning such as death benefit insurance, which pays a fixed lump sum in the event of death. There are also products like funeral insurance offered by companies like An Post.