Funerals are
expensive, a fact that you realise only after you have to organise one. You
have to plan out everything from scratch, including the decorations to the
catering to the service to even the music and the prayers that have to be
performed at the memorial. With a pre-need plan, you can decide all these
details in advance.
All about Financing Funerals:
Funeral plans can
be arranged for in advance. You can either keep a sum of money reserved for the
funeral services or take up insurance for the same. Either ways, financing a
funeral beforehand is always a smart decision. However, there are several
aspects of handling these money matters that you need to clearly understand. The Heritage
Park Memorial Plans for instance, offers clients profitable offers and
discounts on plots and other amenities.
Need for Funeral Funds:
Memorial plans and
preneed contracts allow you to pay for your funeral in advance. It is a legally
binding contract that reserves the money strictly to be used for your funeral
ceremony. For instance, these funds can be used to finance the best plots at
the Heritage Park Sale. You can even use it for other arrangements pertaining
to the funeral. Although, note that you cannot withdraw the money for any other
reason. We would recommend that you pick an insurance company or annuity policy
to safeguard your funds rather than entrusting them in the hands of any private
company.
Finding the best Funeral Funding Plans
Getting insurance
for your funeral service also saves you a lot of money in the future. This is
because by booking a funeral service, plot and other requirements beforehand
you have to pay according to the current market trends. Considering that you
are of decent heath, you can expect to live another 10-20 years easily, thereby
saving your family a fortune. Instead of the inflated rates, your funeral
services will be charged according to the rates set when the contract was drawn
up.
What Are Preneed Policies?
You can take up a
memorial plan or insurance in instalment basis as well. Although it is usually a
cheaper deal with clients pays the entire amount at once. The insurance company
protects these funds until you need them. These funds are exempted from all
taxes and can be transferred to any funeral home depending on the place where
you passed away.
Finding the right
funeral plan requires in-depth research and analysis. You need to be aware of
the current rates, the property prices and other details before picking a plan
that suits your liking.
The Bottom Line
Death, though a
certainty, still manages to take us by surprise, especially if it is close friend
or family member who passes away. And in the face of this unchanging fact we
can only prepare ourselves the best we can so as not to cause any trouble for
our loved ones after we pass away.
