Good Business: Funeral Parlours in Costa Rica

There are 180 companies registered with the taxation department as providers of these services, 43% more than six years ago.

Monday, July 6, 2015

The business of funeral services in the country has been growing in recent years, driven in part by an increase in complementary products and services to this business, such as funeral expense policies. Although there are 180 companies formally providing funeral services, the union for the sector estimated that there are more than 300 companies offering this service in different parts of the country.

An article in Elfinancierocr.com notes that there are companies that have been working in this sector for more than twenty years, such as Jardines del Recuerdo, Montesacro and La Piedad. In the case of the latter, they indicated that in order to better face increasing competition there are "plans to invest $5 million in three funeral homes and two cemeteries in the next year."

Lower costs and a wider choice of policies to cover funeral expenses explains much of the growth of this market, which has increased the number of people capable of assuming, through the policy, the costs incurred in funeral expenses.

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