Millions of Americans want their final farewell to be a meaningful event. If you are one of them, you might wonder how to ensure you get what you want for funeral services. You might also wonder how survivors are going to pay for the event. With funeral pre-planning and an investment in final expenses insurance, you can put worries aside. What are these two preventive steps?
Funeral pre-planning is a great way to put away money for your services while you are still alive. Also, final expenses coverage might provide a solid settlement to help survivors with the costs of death. Both topics are critical services you can invest in now.
Funeral Pre-planning Services
If you want to control what services your funeral will include, pre-planning might be for you. Pre-planning helps individuals select the services they want and pay ahead of time. On your death, the funeral home will have a list of what you want and can enact your wishes accordingly. Pre-planning might let you:
- Chose a casket or cremation service
- Reserve a burial plot
- Design and pay for a marker
- Select flower services
- Choose venues, speakers, music and other details
- Pre-pay for transportation services (as needed)
Usually, when you start a plan, you will sign a contract between you and the funeral home. You will agree to pay them in advance of these services. Often, you can either pre-pay in full or in installments. The money often will either go into a trust or a life insurance plan that the funeral home will use to fund the service.
Keep in mind, every pre-planning service differs. So, think carefully whether it’s right for you. Should you want to make changes or cancel the plan, ensure you can get your money back as needed.
Final Expense Insurance
Even if you pre-pay for a funeral plan, that doesn’t mean you’ll leave no expenses for your family. Funeral expenses often exceed the costs of plans and anticipated costs. Indeed, the average funeral might cost well over $10,000 today. Don’t let this cost become an uncertainty for your family. Instead, consider investing in final expenses insurance.
Final expense coverage is like life insurance. Yet, it usually offers smaller payouts (less than $25,000) and might prove more affordable. In general, this policy can cover immediate costs related to someone’s death. This might include funeral costs, medical bills and other related debts.
Consider both these elements of protection today. With a little care, you can plan to receive the affordable, yet fitting, final farewell. Contact an agent today for a free consultation.