How Much Does It Cost To Die in the Philippines
Death is a gloomy subject that most people find upsetting to talk about. It is, nonetheless, an irrefutable fact. According to Philippine Statistics Authority figures from 2016, an average of 1,591 people die in the Philippines per day. The inevitability of death not only impacts our emotions but also has an impact on our money so here, we figure out and answer the question, How much does it cost to die in the Philippines?
Money is often undesirable in Filipino talks — we consider it improper. When money and death are combined, most Filipinos find it much more difficult to discuss. It’s easy to see why Filipinos have a lack of awareness and understanding about the financial aspects of death.
Nonetheless, remaining educated is the key to properly addressing any situation, even the difficult subject of dying. You see, although the growing costs of living may make our wallets weep, dying will undoubtedly make it cry. Dying may be quite expensive – and in this post, we will go through all of the costs involved in the process. In addition, we will provide excellent financial advice on how to mitigate the financial impact of death.
The Philippines is one of the worst nations to die in, according to the 2015 Quality of Death Index, after five crucial sectors have been analyzed. These include the palliative and healthcare environment, personnel resources, economic care, care quality, and amount of community participation. Terminal diseases not only wear out emotions, but they are also extremely expensive.
According to The Philippine Star, 84 percent of Filipinos are incapable of dealing with medical bills if they are diagnosed with a major sickness. Only approximately 4% have HMOs, and those who do have them are only insured for up to $90,000 per year and only for diagnostics, not real treatment.
Average Cost of Terminal Illnesses
Cardiovascular diseases (heart attack) – ₱978,650
Vascular diseases (stroke) – ₱1.8M
Breast cancer – ₱438,000
Lung cancer – ₱2.78M
Renal failure – ₱192,000-432,000
2. Funeral Cost
The cost of a funeral begins with the death registration, which varies between private and public funerals. A public graveyard burial registration costs Php 150, whereas a private cemetery burial registration costs Php 500. In addition, you must compensate for the corpse transfer fee of 200, as well as the documentation stamp tax of 15.
Now let’s talk about caskets. Today, there are four basic varieties to select from hardwood, metal, stainless steel, and bronze. It is vital to have a solid notion of your budget before selecting one. This is a pricing breakdown for caskets based on material type.
Take into account the size as well. And, if it is accessible, the final desires of the deceased should be considered in the selection.
Wooden – ₱3,000
Metal – ₱16,000 – ₱35,000
Stainless steel – ₱75,000
Bronze – ₱85,000
Mortuary care packages for funeral viewings and ceremonies normally begin at Php 8000. Mortuary services include viewing arrangements such as lamps, flowers, and other decorations, which can be done at home or in a funeral parlor. The prices for these bundles begin at:
Budget Funeral Parlor – ₱8,000 – ₱ 10,000
Mid-range Funeral Parlor – ₱15,000 – ₱ 250,000
High-end Funeral Parlor – ₱300,000 – ₱500,000
In the Philippines, memorial lots remain the most popular option to commemorate the departed. Packages differ in the following ways:
Apartment Tomb – ₱ 1,000
Private Lots – ₱65,000 – ₱100,000
Mausoleum – Minimum of ₱1,000,000
Garden Lot – Minimum of ₱2,000,000
Estate Lot – Minimum of ₱18,000,000
Cremation is an option for those who want to avoid traditional funerals in favor of something more cost-effective.
Cremation typically ranges from ₱20,000 to ₱25,000.
Columbariums are available for ₱20,000 to ₱150,000.
With all of that said, it’s reasonable to say that death is a big financial drain. That is why, whether you are superstitious or simply terrified of the idea of acquiring your own memorial plan or writing a will, putting things in place as soon as possible is simply a realistic life decision that must be taken ahead of time. Add to it the fact that the growing expense of living has made death progressively more financially prohibitive over time. Putting these measures in place can also save you a lot of money.
READ MORE: Golden Haven Memorial Park News and Update
About Golden Haven
Golden Haven Memorial Park is a subsidiary company of publicly listed Villar-owned Golden MV Holdings Inc. Currently positioned as one of the largest real estate companies in the country. Golden Haven offers premium death care services and prime memorial lots. It is dubbed as the most lucrative real estate investment with an average of 20% annual value appreciation.
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