Why you should start saving for a funeral plan now
MANILA, Philippines – Saving up for a funeral plan should begin as soon as one starts earning, said Eugene Cheng, the vice president for operations of funeral home Sanctuarium in Quezon City.
Cheng said planning for a funeral service is as important as any other occasion, which means spending for it should also be planned.
“We prepare for our birthdays, we prepare for somebody else’s occasion, for our kids’ studies. Why not prepare for your last show on earth?” he told ANC’s “On The Money.”
He noted that funeral expenses are usually dictated by beliefs in culture, religion and tradition.
“The main ingredients of a package are the chapel and the casket. These basically dictate the price,” he said.
Cheng said not all caskets come at an equal price. The pricier caskets have gaskets, a rubber seal which will prevent objects from entering.
Some caskets that have expensive price tags also float, which may come handy in flood-prone cemeteries.
“Right now, all places are unpredictable. Some places that don’t get flooded before, now gets flooded…The local caskets sink and the remains of the loved ones are gone. But if you have these imported caskets with all the sealing, the casket floats,” he said.
Caskets may range from P50,000 to P1 million, depending on the material used. Bronze, copper and stainless steel caskets will cost more than others.
Cremation is an inexpensive alternative, as cost of urns start at P18,000.
Urns can be kept at a columbarium or vault, which may cost P75,000 for two urns.
Planning for a funeral plan early will allow one to make own choices, while keeping costs as low as possible.
“Preplanning enables the person to resolve one of life's most important and inevitable details in an intelligent, efficient manner,” Sanctuarium said in its website.