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A year ago, my grandmother passed away very suddenly. I already had a trip planned and had to immediately re-route my flight to get home for her funeral. I briefly attempted to figure out how bereavement fares work, but I was too upset to wade through the barrage of information. Instead I ate huge rebooking fines and tried to put the exorbitant cost out of my mind.

This week, a friend of mine is in the same place and asked for help--and what my research for her uncovered was a little surprising. Bereavement or compassion fares aren't always the best option for those traveling at the last minute. Let's weigh the pros and cons.

Pros: A bereavement, compassion, or emergency fare is a heavily discounted fare--typically 50% off the highest unrestricted fare. These fares offer travelers lots of flexibility from being fully refundable to allowing date and schedule changes at no additional cost--but the rules vary by airline. If you're not sure when you want to arrive or return, this might be the best choice for you.

Cons: 50% off an unrestricted fare sounds pretty good--until you do the math. In today's competitive travel marketplace, virtually no one buys full-price fares and even half off an unrestricted fare can be hundreds more than the lowest online fare. You'll probably be able to find a much cheaper flight through a quick Internet search and don't forget to check Flight + Hotel prices too. Vacation packages tend to be your best value at the last minute and everybody can't stay at Aunt Judy's house!

Plus, most airlines only offer compassion fares to immediate family members and they're limited to death or medical emergencies. And they typically require the name of the deceased or ill family member and the contact information for the funeral home or doctor. You may also have to mail in a copy of the death certificate, which could be a painful and annoying errand.

Here are the bereavement fare policies for the major U.S. airlines. Please note US Airways, AirTran, Southwest Airlines, JetBlue, and Virgin America do not offer bereavement, compassion, or emergency fares.

Delta: No bereavement fares offered for travel within the 48 contiguous states.

United: My friend got a great compassion fare from United. They offer 10% off the lowest available fare.

American Airlines

Continental Airlines

Northwest Airlines: Bereavement fares are only offered to WorldPerks members.