Is my money better off in the bank?
It is a common myth that keeping your money in the bank is always a better option. However, when it comes to preplanning and prefunding your funeral, it is important to consider the specific purpose and benefits. By prepaying you can ensure that your wishes are met and relieve your loved ones of the financial burden. Prepaid funeral plans protect you against inflation by guaranteeing the funeral home’s service charges. If prices go up, your loved ones will not have to pay more when the times comes if the funeral is prepaid.
For example: If you choose a service that costs $4,000, but when you pass the service cost is now $6,000, your loved ones will not have to pay the additional $2,000.
If a funeral home goes out of business, will I lose my investment?
Funeral homes unfortunately can go out of business; however, your funeral plan payments are securely invested with an independent entity such as an insurance provider. If a funeral home goes out of business, the money in your plan can be transferred to another funeral home.
If I move, will my family have to return to the area where I purchased my prepaid funeral plan to not lose the money?
Funeral plans can be transferred to another funeral home at any time. Just contact us and we will guide you through the next steps to get your funeral plan and investment transferred to where you are moving to and to the local funeral home in that area.
Can life insurance cover my funeral expenses?
Life insurance can be used for funeral expenses. However, most families like the idea of guaranteeing costs. Prepaying through the funeral home is the only way to guarantee costs. When someone is planning to use their personal life insurance to pay for their funeral, costs will continue to rise until time of death and personal life insurance is not always guaranteed to be there. All of our prefunded prearrangements are irrecoverably assigned to the funeral home which protects it from Medicaid and any other asset assessment.
If I pass away before making all the installments on your prepaid funeral plan, will it cover the funeral costs?
With our payment plans, if death occurs while you are making your payments, the entire cost of the funeral may be paid with remaining payments forgiven depending on coverage and when.
