Find the Latest Consumer Financial Research from Debt.com

A Debt.com poll of 1,000 Americans shows more than half would take on debt for a family member’s funeral. Three in ten already have. Many of those are struggling to pay it off.

When a loved one dies, we’ll pay to take care of them.

How much?

Four in ten respondents to a recent survey told us they’re willing to “take on at least $1,000 worth of debt for a funeral.”

To support Debt.com’s new “Death and Debt” section, we polled more than 1,000 U.S. adults on how they pay for funerals. Nearly 1 in 3 say they’ve “taken on debt after a loved one’s death.

“Over the past 10 years, Debt.com has consistently tracked research of Americans maxing out credit cards for lavish lifestyles they can’t afford,” says Debt.com president Don Silvestri. “It’s great to see most Americans won’t take on debt for a funeral. We want to teach the other 74 percent how to plan so they aren’t stuck with high-interest debt after the casket gets lowered into the ground.”

The key takeaways:

55% will take on debt for a funeral
3 in 10 are comfortable taking on between $1,000 and $5,000 worth of debt
Most with “funeral debt” say it’s from a credit card

More than half will take on debt for a family member’s funeral

More than 3 in 10 will take on between $1,000 and $5,000 worth of debt for a funeral

Fortunately, less than 2 in 10 admit already taking on a least $1,000 worth of “funeral debt”

Most respondents took on credit card debt for a funeral

That debt makes respondents anxious and holds them back from other financial goals

For full survey results, click here

Do you get uncomfortable thinking about death?	Percentage of respondents
Yes	53.82%
No	46.18%

Does that discomfort stop you from planning for your death?	Percentage of respondents
Yes	32.50%
No	67.50%

Have you written a will?	Percentage of respondents
No, I don’t have time	14.53%
No, I’m too young	20.36%
No, I don’t have many assets	23.42%
No, thinking about my death is stressful	11.38%
Yes, I’ve written a will	30.31%

Would you take on debt for a family member’s funeral?	Percentage of respondents
Yes	54.78%
No	45.22%

If yes, how much debt would you be willing to take on?	Percentage of respondents
None	37.57%
Less than $500	7.55%
$501-$1,000	12.91%
$1,001-$2,000	12.62%
$2,001-$3,000	9.37%
$3,001-$4,000	3.63%
$4,001-$5,000	7.17%
Over $5,000	9.18%

Do you know what happens to someone’s debt when they die?	Percentage of respondents
Yes	45.03%
No	54.97%

Have you ever taken on debt to travel for a funeral? If so, how much?	Percentage of respondents
I haven’t taken on debt for funeral travel costs.	73.52%
Less than $500	9.27%
$501 – $1,000	9.27%
$1,001-$2,000	5.07%
Over $2,000	2.87%

Have you ever taken on debt after a loved one’s death? If so, how much?	Percentage of respondents
I haven’t taken on debt after a loved one’s death	71.32%
Less than $500	7.17%
$501-$1,000	6.12%
$1,001-$2,000	5.26%
$2,001-$3,000	3.35%
$3,001-$4,000	1.91%
$4,001-$5,000	2.10%
Over $5,000	2.77%

Do you know what happens to someone’s debt when they die?	Percentage of respondents
Credit card debt	52.01%
A personal loan	25.24%
A funeral loan	22.75%

If you’ve taken on debt after a loved one’s death, how did that affect you?	Percentage of respondents
The debt made me anxious	27.72%
I haven’t been able to keep up with payments	13.19%
I’ve put off other bill payments	13.58%
I’ve put off major purchases like a home	10.61%
It hasn’t affected me emotionally of financially	55.35%

Methodology: Debt.com surveyed 1,046 adults and asked 10 questions about how death expenses contributed to their debt. People responded from all 50 states and Washington, DC, and were aged 18 and above. Responses were collected through SurveyMonkey. The survey was conducted on March 01, 2023.

Most Americans Would Take on Debt to Plan a Family Member’s Funeral