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Feb 20

Memorial diamonds are a smarter investment than a burial

Reading Time: 4 mins

End-of-life expenses are never easy. In the midst of grieving for a loved one who passed away, the necessity of dealing with the legal and mandatory side of the matter can really take a toll on the bereaved. 

There are many people who have already arranged their end-of-life preferences and even invested in insurance policies that will ease the financial burden on the family when they die. However, it’s important to keep in mind that it is probably more common for a person who has died to have no final arrangements expressed or expenses covered in the form of bonds, insurance policies, etc. This is especially true when the death was untimely or unexpected.

Families left in these troubling situations often are faced with the reality that they must choose the most economically-friendly option – which often includes cremation. 

 

Why are cremations more popular than burials in the United States?

Cost is a major reason why cremations have now been more popular than burials in the U.S. for four years in a row. From 2014-2018, national cremation rates have steadily increased. 2015 was the first year that cremation was more popular than burials. The trend doesn’t look to slow down.

In 2015, 48.5 percent of Americans chose cremation and 45.4 percent chose burials. Just over half of Americans (50.2 percent) chose cremation and 43.5 percent opted for burial in 2016. This rate for the preference of cremation vs burial climbed each year and reached 53.1 percent in 2018. It’s only projected to grow from there. The National Funeral Directors Association (NFDA) predicts that cremation rates will climb by a third over the next 20 years. 

Check out the following cremation rates infographic from the Cremation Association of North America (CANA) that illustrates this steady incline and the recent trend in cremation popularity in the U.S. and Canada.

 

New options emerge on the scene for cremated ashes

As more people choose cremation either for themselves in advance or for a beloved friend or family member, people are coming up with modern, new, and sometimes innovative ways to use those ashes in a memorial. From the bizarre idea of shooting ashes into outer space to the more traditional practice of scattering ashes in a special place – there’s a lot of different things to do with cremated ashes – including – turning them into diamonds at Heart in Diamond (HID).

 

A cremation diamond is an investment that holds value 

Lots of money goes into a funeral and burial. Those expenses include the actual price of the burial: buying the casket, the lot, the vault, etc. While that money is spent on something that is going to hold the body of your family member, what if you can have that same amount of money spent on cremation and used towards turning ashes into diamonds?

That’s right. With memorial diamonds starting out as low as $750 for an orange-yellow 0.03-carat diamond and $295/stone in a set of four mini-diamonds, Heart in Diamond makes it affordable to grow a diamond from a loved one. In fact, the company is so committed to making it possible for anyone to afford a cremation diamond – they also offer convenient payment plans that can make owning a memorial diamond as affordable as $23 USD per month.

What’s great about owning any diamond is that it does not depreciate against its intrinsic worth. In other words, as the price of diamonds naturally fluctuates in the market as a commodity, it doesn’t matter if your diamond is 100 years old or freshly-cut, it will be worth the same amount as a diamond that has been freshly cut in that same grade and carat weight. 

When you spend money on the necessary things for a burial, i.e. coffin, vault, flowers, etc.- you are buying things that you will never see again immediately following the burial of a loved one. However, that is not the case when you choose a cremation and memorial diamond. 

Not only does a memorial diamond make a treasured family heirloom that can be passed down from generation to generation, but it also makes a beautiful investment. It’s a way to take that money from an inheritance and give it to a family member instead of spending it on the price of a coffin or headstone. It will always have intrinsic value and could even potentially be used by a family member to cash in on the investment if they needed to in case of an emergency, etc. 

 

It costs less for cremation and diamond than a funeral and burial

Does this surprise you? If you look at the national averages, it really shouldn’t. 

What does the average funeral cost?

A funeral with burial costs somewhere between $7,000 and $12,000. This includes burial, casket, transportation, embalming, service fees, etc. In comparison, the average cost for a funeral with cremation is between $6,000 and $7,000 – which doesn’t include monument, marker, cemetery or flowers.

What does the average cremation cost?

Every family chooses how they want to celebrate the life of a family member who has passed away. Sometimes people choose to have a funeral at the parlor that is also doing the cremation. Other times, family members choose to opt-out of the funeral altogether and hold their own memorial for the departed. If you decide to have a cremation and a funeral handled through a funeral home, the average cost is between $2,000 and $4,000. If you choose to use these same services but directly through a crematory, the average price is between $1,500 and $3,000. 

What does a memorial diamond cost?

You can buy a stone from Heart in Diamond for as low as $750 for a 0.03-carat orange-yellow cremation diamond. Prices start at this range that’s under $1000 and scale up according to the size, color, and other characteristics of the memorial diamond that you order. Check out the diamond pricing guide at HID to learn more.

 

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