Prepaying a Funeral

Why would you pay in advance for something that you would not receive until sometime in the future? By paying now you will be deciding what is and is not important for your funeral service. In addition, you will be relieving financial burden from your spouse and or children.

Let's say that today you pick out funeral services that add up to $4,000.00 and you don't die for another 10 years. Those same services, due to inflation, will cost your family--if you do not pre-pay--more money in the future. Most importantly, your family will not have to decide what you would have wanted and where to find the money to pay for the funeral.

A thousand and one questions need to be answered in a short amount of time when someone dies. When you pre-pay you will have completed a questionnaire which your family can use, thus concentrating their energy at the time of death on taking care of each other and immediate needs. They will not have to decide which casket to pick and which vault you have wanted.

There are many payment options when you purchase a service in advance. You may place the funds in an irrevocable funeral trust, purchase an insurance policy to pay for final expenses, or you may assign beneficiary of insurance policies to the funeral home. Many of these options may be paid for monthly, quarterly, or annually, or with a one-time payment. All of these options meet Medicaid requirements.