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What is the average cost of a funeral in Ireland?

ghostbusters hearse

For a life insurance broker, I take a pretty laid-back approach to death.

I guess it’s a coping mechanism.

Otherwise I’d curl in a ball, rocking back and forth, weeping.

You can either accept the inevitable (and prepare for it) or you can stick your head in the sand…
…and become a financial burden when you eventually leave us.

Ain’t nobody wants to go out like that.

What is the average cost of a funeral in Ireland?

The average cost of a funeral in Ireland is €4062* (before you buy your burial plot)

If you live in Wexford, you’re “in luck” as it has the lowest average price of €3,408.

So what does this €4,000 cover?

  • removal and care of the deceased,
  • embalming,
  • removal to church / cemetery,
  • hearse,
  • funeral director’s fee
  • coffin.

What else adds to the average cost of a funeral in Ireland?

  • a church offering fee,
  • money for the priest,
  • music at the service,
  • the obituary notice in the paper
  • or the cost of your plot.

The cost of a plot in Ireland varies wildly depending on where you live.

Take Dublin for example, if you live in Deansgrange in Dublin, you better start saving:

The cost quoted for a double plot in a graveyard in Deansgrange was €32,000!

While the same same sized plot in Shanganagh, Dublin was quoted at €5,600 – showing there’s a massive difference in price depending on where you want to be laid to rest.

How do you prepay for funeral costs in Ireland?

Some funeral homes offer pre-payment option so you can plan in advance.

Otherwise you can use life insurance to pay for your funeral costs.

How to use life insurance to pay for your funeral costs?

Using life insurance to pay for your funeral costs is simple.

1) You calculate how much it will cost to give a good send off

Let’s say €15,000 to pay for all the associated costs and to allow for future inflation of funeral costs.

You’re not planning on dying anytime soon are you?

2) Buy a whole of life policy for €15,000

Whole of life insurance policies differ from normal life insurance policies because there is no expiry date.

Your €15,000 policy will payout €15,000 at some stage in the future, guaranteed.

3) Put your policy in trust

To make sure your life insurance is used to pay for the cost of your funeral, you should put it in trust.

Don’t worry, this isn’t a complicated process and we can arrange it for you.

If you don’t put your policy in trust, it will form part of your estate.

So your loved ones will have to wait for grant of probate (which can take ages) before they will get the payout.

This could cause financial stress at a difficult time.

Now breathe easy, knowing you’re not going to be a financial burden when your time comes.

Can I add my partner to my funeral insurance policy?

Yes, no problem at all, you just buy a dual life policy.

On the first death, €15,000 pays out, on the second death another €15,000 pays out.

Can I pay for my parents funeral life insurance policy?

This depends on the life insurance company.

You see, there has to be an “insurable interest” between the person paying for the policy and the person whose life is insured.

In plain English, this means the person paying for the policy has to suffer a financial loss on the death of the insured.

Normally an adult won’t suffer a financial loss on the death of a parent so there is no insurable interest.

But some insurers will allow you to pay for your parents policy if you intend to use the proceeds to pay for a funeral.

Otherwise, the premium has to come from your parent’s bank account.

Over to you…

Death is emotionally draining, dealing with funeral arrangements likewise.

You don’t want to add financial stress to the mix.

If you’re a realist and would like some help putting a plan in place, I’m here to help.

Complete the short form below and I’ll be right back.

Happy Halloween!

Nick McGowan | making life insurance easier

*doesn’t include Ghostbuster hearse

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