What You Should Know about Prepaid Funeral Plans

| End-of-Life Resources

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Although it’s difficult to start planning your funeral, early preparations can save your family and loved ones a lot of trouble. At a time when the cost of funerals has skyrocketed, It’s not uncommon for money to play a major role in funeral planning. Such funeral talk can be uncomfortable at first, but it’s worth educating yourself and knowing your options.

A funeral prepayment plan can be viewed as a caring and sensible way to lighten your family’s emotional and financial burden after you are gone. As the name suggests, a prepaid funeral plan is when you arrange and pay for your funeral in advance so that your family doesn’t have to foot the bills. Here’s what you need to know about prepaid funeral plans.


What’s Included in a Funeral Plan

Prepaid funerals are legally binding once the agreement is signed, and they basically contain a contract and a method of paying for the future funeral. There are different plans you can select from, and the option you pick depends on your budget and your personal wishes. In the plan, you can choose to either be cremated or buried. 

These prepaid plans are flexible, and they allow you to organize the details of your funeral. Here, you can lay out how you want your funeral to be conducted, ensuring all your final wishes will be honored. You can customize every detail in your funeral from the music you would like, to the rituals you want.



Prepaid funeral plans are sold by funeral establishments or cemeteries. They can be paid for in a lump sum or installments. Installments can be paid within a period of 6 months to 5 years, depending on the company you work with. The amount you pay covers the services of the funeral home, which oversees the ceremony, the ministers who will preside the ceremony, the burial or cremation fees, and other expenses. 

Keep in mind that all plans aren’t created equal. Some contracts will cover all your future funeral expenses at the current rate, while others may review the rates, or only cover the costs up to the amount you’ve prepaid. Some contracts may allow you to cancel the plan and recoup the money, while others only permit you to transfer the amount to a different funeral home.


Why People Choose to Invest in a Prepaid

There are multiple reasons why people decide to go for a prepaid funeral. After a person passes away, the family is left with difficult financial and funeral decisions. They have to find the money for the ceremony and plan a send-off that they deem fit. Most people view prepaid funerals as a way of easing the pressure on loved ones. It’s also seen as a great way to let loved ones know your funeral wishes and perform them in the right way.


How a Prepaid Funeral Plan can be Beneficial

There are many advantages of opting for a prepaid funeral plan. The most significant benefit of prepaying is that it gives your family peace of mind at a time of distress. They no longer have to worry about raising funds when they are grieving. 

If you want to be bid farewell in a specific way, a prepay helps your loved ones to observe your wishes and reassure them that they gave you the send-off you wished for. Another great benefit is that you get to lock in the current funeral prices. Even if future expenses increase, your plan is protected from inflation.


Having a prepaid funeral arrangement can be a wise move that can protect your family from stress after you pass on. Before selecting a prepaid funeral plan, make sure you take your time, look at different options, ask many questions, and do your research.



| End-of-Life Resources

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