As the cost of living increases, such expenses as the funeral costs follow suit. You do not want to die and leave the financial responsibility of your funeral to your family. To avoid this, you can make pre paid funeral plans during your lifetime. It will not only relieve your family form the financial stress but it may also make the pain more bearable knowing the finances are taken care of.
How it works
You identify a plan that suits you and you contribute regularly. In this plan, you contribute a predetermined amount either monthly, bimonthly or for any other agreed period. The amount paid should be determined by the amount of money you earn and the amount you intend to save up. Alternatively you may decide to pay a lump sum amount and finish it off. Ensure you get a plan that works for you.
Death has no favourites. It can come knocking at any time irrespective of age, social status, origin or any other orientation. This means that anyone over the age of fifty can take up the pre paid funeral plans. The earlier you take out the plan, the cheaper it will be for you. This is because you pay a fixed price for the funeral. Therefore, you should not let age deter you from pursuing such a plan. Depending on the organisation you choose to work with, you will have a variety of plans to choose from.
Nature of plan
There are basic plans, standard plans and plans that are more comprehensive. Different organisations will have different type of plans. The basic plans just cover the basic funeral ceremony. The standard plan has more provisions than the basic plan while for the comprehensive plans, you get to have a more detailed approach where you specify different aspects of the funeral. However, if the plans on offer do not suit your needs or plans, you can always get a customised plan. In the customised plans, you get to choose in detail what you want for your funeral. You can add as much details as you please without any extra charges.
The plans include choice of the burial grounds, the kind of ceremony you would like, the coffin specification, the kind of clothes you would like and even the kind of music you would want. In essence, the plan helps you plan of the funeral in such a way that you spare your family the emotional turmoil of doing this. However ensure that as you choose the plan, you have an idea of what it covers to avoid frustrations in future.
Advantages of pre paid funeral plans
No matter how high the funeral costs increase, the cost of your funeral will be fully covered by the organisation you choose. This is like paying a fixed price for the funeral and therefore you eliminate the issue of inflation and any other changes that may affect the costs. Besides this, where you live or want to be buried is not relative once you take the plan with a provider who works in the area of interest. They will take care of all the planning and the expenses when the time comes.
Some plans are flexible and therefore you have the discretion of changing the plan as you would like. Besides this, you have the discretion of choosing the kind of payment you make. This can either be regular payments or in lump sum. It protects your family from the trauma of organising the funeral once you are gone. Eliminating the subsequent financial responsibility will help them in dealing with the pain. The funds you save up for the funeral will be secure. The funds are usually securely invested in a trust fund that is run by a professional manager. This means that the money will not be misappropriated or lost at any given time.
If you have a change of heart and decide against the plan, you can cancel it. This should be done in accordance with the terms and conditions agreed upon when you took out the plan. You will get a refund of the money as stipulated in the terms and conditions of engagement. With a variety of plans to go with, you have the discretion of choosing the best plan. Compare all the information you get online and choose wisely. Remember, you are doing this for your family and it will show them how much you care.
You can easily get a quote online for a funeral plan. This makes it easier to compare the costs associated with different plans, what is covered by the plan and the mode of payments expected. You can do it from the comfort of your home or any other place in the globe. In addition to this, you can read widely about the plans and get more information than that provided by the organisations providing the plan. You have more time to decide without pressure for any sales agent or group of people.