funeral expenses jar

How To Pay For Funeral Expenses

Knowing how to pay for funeral expenses can be stressful. There are options though. You can pay for it through life insurance, with a prepaid funeral plan, with crowdfunding, with a personal account, or with a title loan.

It is best to come up with a plan for how you will pay for your funeral ahead of time so that your loved ones do not have to stress about finances when they are in mourning.

Options For Funeral Payment

Life Insurance

A lot of families intend to use a life insurance policy to pay for funeral expenses. The fact of the matter is though, there can be a lot of complications that you do not expect. You can learn more about these complications by digging into the details of your life insurance policy.

Even if there are no particular problems with your specific life insurance policy, it can still take a month or two for you to actually receive payment after the death of your loved one. This is one of the options to consider on how to pay for funeral expenses.

Prepaid Funeral Plans

One of the most popular options on how to pay for funeral expenses is to use a prepaid funeral plan. There are benefits that come with using a plan that comes with an insurance policy, trust, or annuity.

You can save money by finding a funeral provider that will guarantee a locked-in agreement that only charges funeral services at the current price. This will save you a lot of money if you expect to live another ten to twenty years.

There are two main types of prepaid funeral plans. They are pre-need policies and funeral trusts. With a pre-need policy, you can set up an installment plan or pay it in full from the beginning.

man planning a funeral

This money goes to an insurance company and offers some tax advantages. You can also transfer these funds to a different funeral home if you end up relocating.

The other option is funeral trusts. These can grow over time, so they are a good option if you are trying to plan for the future. Some states require all of the funeral funds to be deposited, there are also states that only require a percentage. You should check the rules about the state that you live in.

Personal Account

Other families choose to have a pay-on-death account with a specific beneficiary that they name. The advantage of choosing to use this option is that your heirs do not have to go through probate in order to access your assets.

There are disadvantages to using this method though. Each year that you stay alive, the purchasing power of your account diminishes. Another problem is that these accounts usually do not generate a sufficient amount of interest to beat the rise of inflation. If you require long-term assistance, these accounts are also usually not Medicaid-exempt.

Yet another problem with using a personal account to pay for funeral expenses is that they can be seized by the courts in the event of a civil suit, divorce, or bankruptcy hearing.


If you do not have a financial plan in place at the time of the funeral, another option that you can consider in terms of how to pay for funeral expenses is to try crowdfunding.

GoFundMe is the most popular crowdfunding site on the internet, and a lot of people use this to crowdfund funeral expenses. There are also other options available though, such as Funeral Fund.

Getting A Title Loan Online

Another option that you can consider when you are faced with an emergency expense like paying for a funeral, is getting help in the form of an online title loan from Mississippi Title Loans, Inc.

This is a way to get the emergency cash that you need based on the value of your vehicle’s title. You can get up to $2,500 in fast cash without ever even having to visit a physical store location. A loan specialist agent will meet you at a location that is convenient for you.

When you apply with Mississippi Title Loans, Inc. you can have your cash deposited directly into your account and you even get to keep your car while you are paying off the loan. The only things that you need to apply for a title loan online are the following items:

  • Your driver’s license or another valid form of government-issued photo ID
  • The lien-free title to your vehicle
  • Your vehicle for inspection

Once you have all of these items pulled together, you are ready to get started with the easy online title loan application form.

Final Thoughts

Losing a loved one is always a difficult experience and knowing how to pay for funeral expenses can be stressful. However, there are options available that you can use to pay for their funeral expenses.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.