A prepaid funeral is an arrangement made with a funeral home in advance of a person’s death. You make a list of items and services you want for the funeral, such as transportation, flowers, casket, and venue, then the funeral home director comes up with the total cost.
Pros of Prepaid Funerals
Next to taking an active role in organising your funeral, you can gain many advantages from choosing a prepaid funeral plan. The main benefits are:
1. Saving the Family From Any Financial Hardship
You’ll reduce the financial burden on your family. Those you leave behind won’t have to make difficult decisions about what type of service you’d like, or better yet, worry about affording the funeral costs.
2. Organising the Funeral According to Your Desires
By choosing the right funeral home, you can pick the casket, cemetery plot, and type of burial. All will be in your control.
3. Secure a Reasonable Price
You’ll lock in today’s prices. Once you settle your pre-payment plan, you won’t have to worry about costs rising! Also, most funeral homes offer cheaper packages for those paying in advance, meaning you can get a pretty good deal.
Cons of Prepaid Funeral
Although prepaying for a funeral could give you greater peace of mind, they might not be for everyone because of these reasons:
1. Most Prepaid Plans Don’t Transfer
When you commit to one funeral home and move to a new location, the plan won’t apply there (except when signing an agreement with a national funeral home chain).
2. You May Encounter Unexpected Fees
Even though you cover everything in advance, your family may still encounter additional payments, including cemetery expenses, third-party service providers, and so on. To avoid that, make sure to read the fine print before any signing occurs! Check all the details carefully!