The cost of a monument is a significant investment, and many families appreciate the availability of flexible payment options. Understanding the various ways to finance a monument purchase helps ensure you can create the memorial your loved one deserves without financial strain.
Many monument companies, including The Monument Store, offer payment plans that allow you to spread the cost over several months. A typical arrangement involves a deposit at the time of order (usually 40 to 50 percent) with the balance due before installation. Some companies offer longer-term plans with monthly payments over six to twelve months. These plans often come with zero or low interest, making them an attractive alternative to putting the full amount on a credit card.
Veterans and their eligible dependents may qualify for a government-furnished headstone or marker at no cost through the Department of Veterans Affairs. The VA provides flat markers, upright headstones, and niche covers for veterans buried in national, state, and private cemeteries. While the VA options are more limited in terms of customization, they provide a dignified memorial at no cost to the family. Families who want a more elaborate monument can purchase one privately and still include VA-approved emblems and designations.
Pre-need monument purchasing is another financial strategy that more families are exploring. Purchasing a monument in advance — sometimes years before it is needed — locks in today's prices and removes the burden of decision-making during a time of grief. Granite prices have historically increased by two to five percent annually, so pre-planning can represent meaningful savings. The monument is fabricated and stored until needed, with the final date added at the appropriate time.
Insurance policies, particularly burial insurance and final expense policies, can be used to cover monument costs. Some families designate a specific amount within their estate planning for a monument. Pre-paid monument contracts also exist, where you pay in full or in installments and the monument company guarantees delivery at the agreed-upon specifications regardless of future price increases. Whatever your financial situation, there are options available to ensure a meaningful memorial is within reach.