Cost of Dying Report 2024

For most of us, coping with the death of a loved one is one of the hardest moments in our lives. And having to arrange the financial and practical requirements for a funeral at the same time can make it harder. Especially if the person who has died hasn’t made any financial plans to cover the cost of the funeral, or shared ideas on what kind of service they would like.

Our Seniors Choice Cost of Dying Report 2024 is intended to help you and your loved ones prepare to make decisions about your own funeral, or the funeral of someone dear to you. It’s difficult for most of us to even think about this subject, let alone talk about it, but by starting to do so and taking steps to ensure that the costs involved will be covered, you may be lifting a great burden from the shoulders of the people you will leave behind at the end of your life.

The 2024 report shows the average cost of a funeral in Canada was $7,793. And the average costs for a larger funeral could reach around $17,000 for a burial and $14,000 for a cremation. And sadly, 46% of those we surveyed thought they wouldn’t be able to meet the costs associated with a family bereavement. The report really highlights how important it could be to put plans in place now, to help reduce the financial worries for loved ones later.

There has been a remarkable level of consistency in many of our findings both last year and this year. We hope this shows that our research is capturing an accurate picture of the costs of funerals in Canada today and the practical and emotional impact that organizing funerals has on the people who take on this task.

On a positive note, the report showed that more than one in three (36%) of the funerals arranged were paid for using an insurance policy. And in these cases, eight out of ten respondents (81%) agreed with this statement – “I was able to plan the send-off my family member or loved one wanted because I could afford it with the insurance payout.”

With some careful planning now, it’s possible to put a plan in place that will help pay for a funeral that celebrates the person who has died, without adding to the difficulties faced by those left behind. Take a few moments from your busy day and have a read of our easy-to-understand Cost of Dying Report 2024. It could make all the difference.