Inflation across the globe has made people realise the benefits and importance of prepaid funeral services. They have understood that it is a wonderful way to remove the financial burden that arrives when the family is financially and emotionally broken. This concept of prepaid funerals ensures the family has no financial decisions to make during hard times, as most family members are not emotionally stable for this.
It allows you to safeguard your family financially and emotionally and remove the pressure of planning and funding a funeral ceremony. There was a time, when it was considered a weird thought, but now more and more people are inclined towards prepaid funerals due to the growing funeral cost and the fact that they can plan their farewell their way. Let us go through the details of the concept of prepaid funerals and the process of arranging them.
WHAT EXACTLY IS A PREPAID FUNERAL?
This concept gets activated when an individual meets a funeral director or a funeral service provider to get more information regarding the pre-arrangement of the funeral ceremony. A contract is signed between these two parties, and it mentions all the services that a client will receive in the future as part of funeral services. In return, the client has to pay for these services in advance, and as soon as the transaction is done, a copy of the contract mentioning all these specifications and details is handed over. When the contract holder passes away, the family just has to present the contract to the funeral home and from there, the responsibility will be of the funeral directors to follow the specifications and ensure a grand funeral without asking for any extra penny.
TYPES OF PREPAID FUNERAL PLANS
Funeral homes offering prepaid funeral services provide different prepaid funeral plans. You must go through the details carefully and choose the one that fits inside your budget.
FIXED PRICE PLANS
Fixed-price plans guarantee that the cost will not see any swelling over time. The consumer has to pay a predetermined price and this price will remain unchanged regardless of inflation or any future economic factors.
INSTALMENT PLANS
Some funeral homes provide installment plans, where the contract holder is allowed to pay in installments over time. The drawback is that it comes with additional fees and is often more expensive than the fixed-price plans.
WHY ONE SHOULD CONSIDER PREPAID FUNERALS?
Several factors have made prepaid funeral services immensely popular across the globe. When a contract is signed, funeral directors are responsible for handling future-rising costs. These professionals are legally committed to providing all the services mentioned in the contract without additional costs or expenditures. Here are some common reasons why prepaid funeral services have become immensely popular.
FINANCIAL SECURITY
Payment made in advance ensures that your expenses are covered, and no matter what happens in the future, the cost will remain unchanged. In other words, inflation or any other financial factor will not impact the price. This is a huge benefit as the family can be free from funerals-related stress and expenditure. They have all the time to honour the loved one and be with the body for the final time.
EMOTIONAL PEACE
Prepaid funeral services remove the burden of decision-making from the grieving family's shoulders. The funeral director from the chosen funeral home is responsible for following all the guidelines and specifications and applying them without any compromise. This is a huge emotional peace for the family, as family members don't have to be involved in funeral arrangements at all. They can continue mourning, knowing that the arrangements will be taken care of by the funeral director.
ELIMINATE UNNECESSARY EXPENSES
Seeking prepaid funeral services means preventing overspending on unnecessary items and services at death. This concept allows the family and the contract holder to be very clear about the desires and specifications to follow during the ceremony. The contract holder can specify what they want at the ceremony, and the family will have no extra pressure to purchase additional services and products not specified in the contract.
HOW TO SELECT A PREPAID FUNERAL CONTRACT?
Some common factors have to be considered to ensure the successful and wise selection of a prepaid contract.
RESEARCH ABOUT THE SERVICE PROVIDER
You will obviously search for service providers on Google, but while doing this make sure that you don't select the first name on the search result. It is recommended to research the funeral service provider and check their reviews and ratings. You can also consult with your local Better Business Bureau to ensure that you are dealing with the right service provider.
UNDERSTAND THE CONTRACT THOROUGHLY
Before signing a prepaid funeral contract, you must read the details carefully and understand the terms and conditions. This will give you a better idea of what is covered and what is not, what the refund policy is, and whether there are any hidden costs. You can also ask them about the flexibility to make changes in the contract, and one significant thing is where they will be investing your funds.
PREPARE FOR THE UNEXPECTED
You should also enquire about what happens if you relocate to some other city or the chosen funeral home gets relocated. Questions should also be about what would happen if the service provider went out of business.
CONSIDER COST BREAKDOWN AS WELL
While availing prepaid funeral services, you must understand the total cost breakdown. This will help you understand the overall expenditure and what can be eliminated out of the list. These contracts have several items you might not need due to cultural or religious restrictions. You must have the right to eliminate all these things and even if some additional services are required, you must be able to add them.
DETERMINE STATE REGULATIONS
State regulations are the most crucial factor to consider when choosing a prepaid funeral contract. This is essential as different states have different regulations and rules related to prepaid funerals. Awareness of these rules protects you from unexpected surprises and hidden costs later in the process.
During or before signing the contract, you must also consider other elements that will make your contract align with your wishes perfectly. For example, you must determine the location of the service and whether you want a religious or non-religious service. Similarly, you can choose your favourite method of body disposition from burial, cremation, body donation, natural burial, and so on. There are several other extras to focus on, like the coffin type and the type of services, flowers, music, memorials, stationery, videos, slideshows, live streaming, etc. You can also decide who will deliver the eulogy and share memories, and there is also an option to specify the dress code for the event. Post-service gatherings can also be determined in the same contract, and the funeral director will be responsible for following the guidelines present in the contract. You have to be a bit extra smart and choose prepaid funeral plans that provide peace, assurance and financial security.