Financial knowledge for parents: 'Sorry to bring this up, but... have you prepared for your funeral expenses? 🙁'

This is sudden, and I apologize for bringing up such a topic.

Of course, I am talking about the cost of your own funeral.

However, in reality, this is something that will eventually come to everyone, equally and fairly, and it is something that costs money, more or less.

That money.

Are you preparing it yourself in the first place?

Or do you feel that what happens after you die is none of your business, and you will leave it to your children or relatives?

You must prepare it yourself...?

I do not intend to say such things to grown adults. That is each person's way of thinking and way of life.

However, I am preparing for it myself😊

Of course, it is partly because of my job, but I have been fully prepared for over 25 years now using life insurance😆

With the COVID-19 pandemic, there have been cases where we have asked people to refrain from attending funerals or have skipped the wake reception, so the average cost of a funeral has been decreasing.

Even so, according to a survey conducted in March of this year, the average recent funeral cost is approximately 1.1 million yen apparently.

Personally, I feel that it has become quite a bit cheaper.

I entered this life insurance industry in 1996, so that was 26 years ago.

I recall that according to data from that time, the average funeral cost was about 3 million yen.

That said, it is still an event that costs over 1 million yen.

For the surviving family, this will certainly be a significant expense.

Moreover, it is a difficult time emotionally.

Being hit with both financial and emotional burdens is quite tough.

As a financial planner and as a person, I hope that at least the financial burden can be removed from their minds. 😌

By the way, a long time ago, I worked part-time at a funeral home. 😅

Since it was a part-time job, I didn't encounter that many cases.

However, there was almost no one who had decided on a funeral home to use while they were still alive.

In reality, after someone passes away, the family has almost no time to decide on a funeral home.

Having seen that scene as a part-time worker, I am quite certain that unless you have personal connections, you will automatically end up using the funeral home that works with the hospital or similar facilities.

So, what happens then is...

You end up holding the funeral for the amount the funeral home tells you to pay.

There is no time to compare or consider options.

You cannot get quotes from other companies or negotiate prices.

There is no leeway to switch to another company just because the price is high.

Above all, for the person who becomes the chief mourner, it is often their first time or they have almost no experience, yet they have to talk to the funeral home, which is the expert.

It is an unavoidable situation where you just do as you are told.

However, there is now a very good system called 'pre-need reservation'.

By using this system, you can likely determine the approximate costs in advance.

Then, you can decide whether to prepare those funds yourself or leave it to your surviving family.

Including that point, I believe it is better to rethink your own 'funeral expenses' not as something that concerns your children or others, but as a 'personal matter as a parent'.

Perhaps there are surprisingly many people who have never even thought about their own funeral expenses, let alone their parents' funeral expenses... 😥

Based on my experience so far, that is the impression I get.

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