Death and Inflation

In these inflationary times people are more aware of how and what they spend their money on. Buying preneed cemetery and funerals has been popular for generations. Those who had the wisdom and foresight to have bought years ago are glad they did.

Still you have procrastinators who will inevitably leave the problem for a loved one to take care of. Nothing could be more selfish. Not only is the family dealing with the loss of their loved one, they are also trying to figure out how they are going to pay for it!

Economic and financial pundits have predicted that as the government prints more money the value of the dollar will drop and inflation will ensue. As this happens goods and services will increase in cost. We are all accustomed to seeing prices rise; however we never think it applies to the death care industry.

Cremations are quickly rising in markets that are accustomed to traditional burials. This not by choice it is out of necessity due to the high cost. With the average funeral costing between $8000 to $15,000 and expected to rise the American public is facing a serious dilemma.

The predicted inflation will hit the death care industry just like any other sector of the economy. People who have never given much thought to prepaying for their cemetery property or funeral will be shocked when it comes time to pay the piper. And no matter what you think; you or someone you love will pay the piper!

Most of us are responsible and love our families. We provide for our children’s education, for a new home or car. Somehow we never want to think about the inevitable. Sooner or later we will pay the piper. As the old adage goes, you can pay now or you can pay later. Pre-need has always been a good idea; now more than ever.