When a family member dies, the grief is usually overwhelming and the last thing most of us want to do in that situation is compare quotes from funeral homes.That tendency to avoid shopping around and a lack of transparency about cost is leading to many vulnerable families being overcharged.Read the full InvoCare statement to 7.30 here.
More on the high cost of funerals; according to an article in Better Homes and Gardens"The funeral industry makes a whopping $2 billion dollars in revenue every year. The average cost of a funeral has been steadily increasing over the past 10 years and has now reached a level where many families need to make smart decisions to keep funeral expenses under control and affordable. A hard thing to do when the average funeral cost can vary significantly, swaying from $4000 to $15,000 according to ASIC, but currently sitting at a median price of $19,000."
In the second of its four-part investigation into the funeral industry, CHOICE.COM.AU takes on funerals cost, suggesting (funeral) businesses control the way we grieve.
The Independent Pricing and Regulatory Tribunal (IPART)is seeking feedback on the costs and pricing of interment services in NSW cemeteries.
According to an article The Weekly Times Now, lower cost of living is one of the many consolations to living in the country but it might surprise some to know the cost of dying is lower, too.
The New Daily claims grieving Australians could be saving “thousands” of dollars in funeral costs but are often ripped off at their most vulnerable by aggressive up-selling tactics on unnecessary ‘bells and whistles’.
Statement from Peter Gutwein, Treasurer, Governmen of Tasmania:
Further clarification is needed regarding claims by the Anglican Church that it will charge up to $15,000 for the burial component of a funeral.
The new Australian Seniors Cost of Death Report, has revealed the staggering amount of money it costs to die in Australia. On average, Australians are paying $9403 for a burial, but in some parts of NSW people are spending close to $20,000 for one burial ceremony.
Consumers may be lulled into a false sense of security using some funeral price comparison websites according to a blog article from eziFunerals Founder, Peter Erceg. The problem is that while funeral price comparison websites may save ‘some’ money that does not correlate with the best possible deal. The Australian Competition and Consumer Commission (ACCC) has had price comparison websites in its sights for some time levying huge fines for misleading conduct.
In essence, many funeral price comparison websites make lofty claims that they compare the market and offer you a better price for the service.
Duncan Hughes, writing for the Australian Financial Review, says property prices for prestigious cemetery plots close to popular suburbs and seaside views are leaving residential real estate for dead.
Falling supply, increased demand and higher disposable income are contributing to “exponential growth” in prices and changing the way the living view real estate transactions for their final postcode, says fifth generation funeral director Dale Maroney.
Competition probe into the sector should address price rises but also much more, says Poppy Mardall writing for the Financial Times,