Parlour Games
Money Magazine Australia|September 2017

Hidden costs mean grieving families can be ripped off when organising a funeral

Vita Palestrant
Parlour Games

Without meaning to sound ghoulish, there’s good news on the funeral front. A number of reports and comparison websites have recently emerged to lift the lid on the industry and help consumers navigate this costly and complex world. It’s a welcome development given that funerals are often organized when bereaved family members are still reeling from their loss, unsure of what to do and under pressure to have the body removed for burial or cremation as soon as possible.

For too long opaque pricing has made it difficult for consumers to shop around. Often the only way to get to grips with the true cost of a funeral is face to face with the funeral director, by which time the exhausted family finds it’s easiest to just accept what’s on offer.

Consumer groups such as Choice want funeral homes to itemize their pricing on their websites so that consumers can research their options and compare prices beforehand and make an informed decision. This way they can avoid being lumbered with a hefty financial burden.

Funerals come with a significant price tag. A cremation costs about $6000 while a burial, including the monument and cemetery fees, can amount to close on $20,000.

A recent study entitled “It’s your funeral: an investigation of death care and the funeral industry in Australia” found funeral homes inflate the pricing of individual services and products by offering them only as part of a bundled package.

“Details of the individual components of the funeral service was not often disclosed,” noted the report, “Instead a ‘packaged’ or ‘bundled’ total price was generally supplied.” It said this made it difficult to put together cheaper alternatives and it also stifled competition.

PACKAGES LIMIT CHOICE

هذه القصة مأخوذة من طبعة September 2017 من Money Magazine Australia.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة September 2017 من Money Magazine Australia.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من MONEY MAGAZINE AUSTRALIA مشاهدة الكل
An outrageous, beautiful monopoly
Money Magazine Australia

An outrageous, beautiful monopoly

Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.

time-read
4 mins  |
July 2024
Drop the anchor to judge value
Money Magazine Australia

Drop the anchor to judge value

Buying and selling decisions should be based on where a stock price is going, not where it has been.

time-read
3 mins  |
July 2024
Powering the AI boom
Money Magazine Australia

Powering the AI boom

Beyond the software and chipmakers, where will the energy come from?

time-read
3 mins  |
July 2024
Get into life
Money Magazine Australia

Get into life

Tucked inside super are products that can protect you from life's inevitable uncertainties.

time-read
5 mins  |
July 2024
Paths to home ownership
Money Magazine Australia

Paths to home ownership

Taking the road less travelled can sometimes deliver unexpected benefits.

time-read
5 mins  |
July 2024
Sold! Quick ways to add value
Money Magazine Australia

Sold! Quick ways to add value

Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.

time-read
5 mins  |
July 2024
Money lessons the kids need to know
Money Magazine Australia

Money lessons the kids need to know

Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.

time-read
4 mins  |
July 2024
Property-investing rules: are they likely to change?
Money Magazine Australia

Property-investing rules: are they likely to change?

The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.

time-read
3 mins  |
July 2024
What's love got to do with it?
Money Magazine Australia

What's love got to do with it?

A rollercoaster of emotions could be driving poor crypto behaviour.

time-read
3 mins  |
July 2024
Are we ready to be cash-free?
Money Magazine Australia

Are we ready to be cash-free?

Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.

time-read
2 mins  |
July 2024