CEBU, Philippines — Tomorrow and on Friday, many are heading to cemeteries to pay respects to dearly departed family members and friends.
It's the time of the year when the thought of death and the costs associated with it normally occur to many.
Death, of course, is inevitable. That's why it's better to be prepared financially for this eventuality.
Just as costs of basic goods are rising, so does the cost of dying. And it's getting expensive nowadays.
Bong Ebo, operations manager at Cebu-based Cosmopolitan Memorial Chapels, said death must be included in the future plans of anyone.
"With the current inflation rates, a list of priorities must be written, aside from the basic needs and lifestyle, future forecast must be included seriously and religiously like hospitalization and death," Ebo told The FREEMAN in a phone interview yesterday.
"These are certainties that most of us fail to get ready," he said.
"Death is certain and is expensive."
He said average cost of death now starts from around P50,000, which already includes P15,000 for funeral services; around P20,000 for cemetery; and another P15,000 for daily expenses for prayers in nine days, snacks, church fees, government permits, and manual labors, among others.
"Not all has this budget readied for such calamity. Now mortuary plans sprouted like mushrooms but still middle to low income people refuse to heed," Ebo pointed out.
With the increasing death rates ranging from normal, calamities, crimes and diseases, he noted a plan must have swollen dramatically "but still only middle to higher class earners have heed this reality."
“Maybe our government will interfere on this by providing free cemetery relative to housing and condominium demands," he said.
Financial experts have advised preparing for a possible death in the family no matter how morbid it may sound.
Practically speaking, it makes sense to have some preparations.
That’s because expenses associated with death can be as substantially high as the usual lifestyle expenses.
Being financially prepared for death can help minimize stress levels during this emotionally draining period.