If you’ve ever wondered why it’s important to consider pre-paid funerals, there is much more to handle than the plain aspects of convenience. Pre-paid funerals are offered for a reason: to simplify the funeral process for family members who have little or no time as they’re dealing with their grief and loss.
There are many decisions to make: who will attend the services and burial? How much should you plan to spend? Are cremation or burial preferable? If you are interested in prepaid funeral plans but aren’t sure they’re right for you, here are four good reasons why you should consider getting one.
1. Cost Perks
Compared with life insurance, prepaid funerals can help you save more money. Not just in terms of the amount payable but also the benefits that come with it like:
Not Being Affected By Inflation
Once you decide to purchase or have settled on a plan. It’s an automatic lock for you; nothing will change, no matter the price hike. You’ll pay for your plan with no forced upgrading to premiums.
Plus, you are allowed to have at least one beneficiary. If you (assuming you’re the account owner) pass away, the beneficiaries can withdraw the money. They don’t have to provide the last will or any probate.
2. Secures You
Think of it as a super secure bank. Although you cannot withdraw what you put there, your money is guaranteed safe, which is often called Funeral Trust Fund.
On a Side Note
A funeral trust is a legal document created when you employ a funeral home for prepaid arrangements. State laws protect the money deposited in the trust, and only upon your death can it be accessed by others.
Additionally, prepaid funerals can make your family or loved ones secure in terms of the financial aspect. Your family won’t have to worry about where they should get the money for a burial. Or how will they bounce back from a big expense such as a funeral?
For safety, avoid purchasing from companies that cannot provide certificates or government-approved papers. Scammers will take advantage of anything to gain money. They don’t care if someone is grieving. Take extra care and be attentive to details to avoid paying for the wrong company.
3. Freedom of Choice
Your farewell service will be the way you want it to be. You can choose the package and any add-ons you want, so your family can take comfort in knowing that proceedings are being carried out how you wished them to be.
Pre-paid funerals can secure your final resting place as well. If you want to be buried next to a specific person, such as your spouse or parents, you can make plans.
Plus, you will not be pressured by the agents to pay or choose immediately. You can take your time choosing the right one for you. After all, if a person is in a rush to perform a funeral, they often make financial decisions that the deceased person may not have wanted or needed. These include paying for unnecessary flowers or even a piece of decoration.
4. Minimal Limitations
Prepaying for your funeral is a wise investment. You can keep your routines without worrying about costs, which will not affect your pension or retirement income. The amount you pay will not be considered part of your assets. And paying isn’t as difficult as you aren’t expected to conduct a pile of papers such as medical examinations or checks.
You are also allowed to either pay in total or on an installment basis.
Funerals, while they might seem like they don’t cost too much, they are expensive. Many factors go into having a funeral, and if you’re paying out of pocket, they can add up quickly. Pre-paid funeral plans help you get out of that financial burden.