When it comes to our final days, most of us would prefer not to think about them. Unfortunately, this means that many men go into their golden years without having made any provisions for their funeral. This can lead to a lot of stress for loved ones in the event of death. Thankfully, there is an easy solution - pre-paid funerals. In this blog post, we will explore the pros and cons of choosing a pre-paid funeral plan, so that you can make an informed decision before it's too late!
funeral planning is difficult enough as it is, without the added pressure of having to think about money. With a pre-paid funeral plan, you can rest assured that your loved ones will not have to bear the burden of financial stress in addition to their grief. This can be an immense relief for everyone involved.
Of course, there are also some downsides to pre-paid funerals. One of the biggest is that you may not be able to take advantage of all the services offered by your chosen funeral home. For example, if you decide to pre-pay for your funeral but then change your mind and want a more traditional service, you may not be able to get a refund. It's important to weigh up all the pros and cons before making a decision - but if you do decide to go ahead with a pre-paid funeral, it can be a huge weight off your loved ones' minds.
What Types Of Funeral Services Can Be Pre-paid?
While the specifics vary depending on your chosen funeral home, there are a few general types of services that can usually be pre-paid. These include:
- The cost of the coffin or casket
- The cost of transport to and from the funeral service
- The cost of the funeral service itself
- The cost of cremation or burial (if applicable)
While it is important to also consider the type of funeral you want - for instance a orthodox funeral or a Catholic one or even a non-religious celebration of life, this is more of financial discussion that you should have with your partner sooner than later.
When something is crucial, we make preparations in advance. People often make funeral plans in advance to relieve the burden on their family members and loved ones. However, not every prepaid plan is ideal from a financial perspective, and rules regarding such plans might differ by region or state. So, let's evaluate its pros and cons.
Prepaid Funeral Plans: Pros
There are, just as you would guess, a plethora of compelling reasons in favor of prepaying for your own burial. Nevertheless, we have listed only the most prominent ones here:
Reduce the stress on your loved ones
One of the major benefits of a prepaid funeral is the relief it provides for grieving loved ones. If you plan your funeral while still alive, you may save your loved ones the burden of having to make tough choices. Even better, your loved ones will not be concerned about spending a lot of money on a funeral.
Respect your own free will
There is a lot of emotion involved when discussing funerals. Even if you wouldn't be around, it's still crucial to clearly understand how you want to be commemorated and buried. You may take total control by arranging and paying for your arrangements in advance. Having made these choices, you may feel more at peace with your own mortality.
Successfully negotiate a low price
You may lock in today's pricing for your orthodox funeral by organizing and paying for it in advance. Your loved ones won't need to stress about whether or not they have enough money to cover the costs of your funeral and burial preparations in the future, regardless of how much prices may rise.
Prepaid Funeral Plans: Cons
Preplanning a funeral might help relieve some emotional burdens, but it is not without flaws. Prepaid funeral plans aren't right for everyone, and here are some cons to keep in mind:
Be mindful of funeral scams
Scams involving funerals are sadly not unknown. More than $600 million was lost as a result of one company's massive fraud scam, all of which was due to prepaid funeral expenses. Study the laws in your state to make sure you don't fall for a funeral scam or prepaid funeral.
Plan transfers are not permitted
While it may be comforting to prepay for services at a particular crematorium, these arrangements are not transferable. You're limited in your options by being under contract with a single crematorium or funeral home.
There may be hidden costs
Even when you prepay, additional costs can still be incurred after your death. There may be just a few funeral arrangements your budget can afford. Your loved ones may have to bear the cost of extra expenses. It's important to read the smallest details before signing up for a plan to pay for a funeral in advance.
To Sum Up
The majority of funeral homes advise against prepayment in favor of preplanning. It's smart to think forward to your funeral and last wishes. However, you shouldn't feel obligated to sign a funeral home's complex package deal. Instead, discuss with loved ones your goals and then make a plan to fulfill them.