Almost any discussion about advance funeral plans with the people you love is going to be uncomfortable. Not only do you have to bring up finances and religion (two things that put a strain on many families), but you also have to confront the idea of your own mortality. (more…)
Posts Tagged ‘pre-arrangements’
One of the biggest warnings against pre-paying for a funeral is what happens if the funeral home goes out of business. The entire point of pre-arrangement is that you can solidify your funeral plans ahead of time, leaving you worry-free and able to spend your money however you wish. So, the idea that a funeral home might someday terminate services and leave you holding a useless contract is one that may be understandably frightening. (more…)
Conversations about death are never easy – and conversations about your own death are even more complicated. Not only are there financial issues to bring up (a tricky subject in many families), but there is no way to talk about your end-of-life plans without emotions getting in the way. (more…)
We all know that one of the best ways to save money on burial costs and ensure that your wishes are carried out is to preplan a funeral. However, the act of preplanning a funeral can be pretty stressful. After all, you might be setting up huge financial payments, confronting your own feelings regarding death, and making important decisions all at the same time. (more…)
Before you sit down with a funeral director to go over all your options for a loved one’s funeral plans, it’s a good idea to figure out how much money you’re willing to spend. Although the average funeral can go as high as $10,000, you aren’t required to spend this much—nor will you have to. With the right planning, you should be able to find a budget you’re comfortable with and buy a respectful, beautiful service to go with it. (more…)
Even though over 40 percent of Americans opt for cremation over burial, there are still many different kinds of religious, cultural, and personal taboos that make cremation a difficult decision. This is especially true if your family has traditional views regarding funeral planning or has a long history of burial in a particular cemetery.
If you’ve decided on cremation but aren’t quite sure how to tell your family, we suggest you set aside a time to have this important conversation. It’s never a good idea to leave this sort of thing as a surprise, so the sooner you can open up to those you love, the more time you’ll have to enjoy what’s left of your time together.
Once you’ve decided that you’d like to purchase a burial or funeral insurance policy as part of your final plans, the real challenge comes into play. There are countless burial insurance providers out there (which range from funeral homes to traditional insurance companies), and you have options when it comes to choosing the right one. (more…)
Funeral insurance, burial insurance, final expense insurance, preneed funeral insurance—these terms are often used interchangeably to talk about the same thing. With any of these types of insurance, money is paid out to a beneficiary to cover part or all of your funeral costs, including everything from traditional burial to cremation.
Unlike other types of insurance, which are designed around a “what-if” scenario (what if I crash my car, what if I need to go to the doctor, what if my home catches on fire), burial insurance is a guaranteed pay out. As long as you keep current on your premiums or pay the amount required up front, this money will be available upon your eventual death. (more…)
In the funeral pre-planning industry, there are several different options you can choose from for your future memorial service. You can plan down to the last detail by advance planning an entire funeral with the home of your choosing. You can set up a payment plan to lower funeral costs down the road. Or, if you’re like one of a growing number of consumers, you can purchase funeral insurance to ensure that your loved ones are taken care of.
What is Funeral Insurance?
At first glance, funeral insurance can be slightly misleading. Also known as burial insurance, final expense insurance, or pre-need insurance, these are insurance policies that an individual takes out to guarantee funeral funding. Like life insurance, it is payable out upon death and monies are granted to the beneficiary listed on the policy. Unlike life insurance, the payout tends to be smaller (enough just to cover the funeral) and are paid out faster (so that you can have the money for funeral planning). And in many cases, the only way the policy is different from a traditional life insurance option is in the beneficiary—in funeral insurance, you may choose to name the funeral home as the beneficiary, so that the money goes directly to them.