According to the National Funeral Directors Associationâ€™s 2010 General Price List Survey, the median cost of a funeral was $6,560 in 2009. The median cost of a funeral with a vault that same year was $7,755. These costs may be out of your budget but can be accommodated for with the help of a life insurance policy. Alternatively, itâ€™s a good idea for multiple family membersâ€”if possibleâ€”to start setting aside some money to cover the costs of the funeral or burial. Some families unable to afford the cost of a casket and a more elaborate burial service opt for a dignified and less expensive option, such as cremation.