What Is A Prepaid Funeral Plan

Anticipating the future and planning accordingly is a way to cope with any kind of unexpected financial crisis and other insecurities. The prepaid funeral plans are one such way to plan the funeral arrangements of our final days or for our loved ones to ease the emotional and financial problems at the last moment. 

What exactly is a prepaid funeral plan?

A prepaid funeral plan is a contract or agreement between a person and a funeral service home or company, wherein all the details regarding the financial planning and the anticipated setup of one’s funeral arrangements are furnished. It covers all the in-depth details of a person’s funeral including

• The estimated cost of the entire funeral
• Events included in the ceremony
• Paperwork if any
• Place of cremations or burial
• Type of funeral arrangements, etc.

Why should one go for prepaid funeral plans?

It’s normal for people to have a dilemma whether or not to choose a prepaid funeral plan. Preplanning the funeral may be overwhelming at first, however, it is inevitable to avoid such situations. Making funeral arrangements at the time of one’s death would be a tough job in both emotional and financial aspects. Thus, planning a funeral much before helps in many ways, both personally as well as financially. 

If still in a dilemma, here are a few reasons why one should go for a prepaid plan.

• It protects our loved one’s time and money – In the current economic scenario, it would cost around 2000 to 10,000 euros, ranging from a simple funeral to a luxury funeral. Depending upon the choice of plan and eligibility, individuals can choose their own funeral plans that are available in both the options – monthly installments as well as single payoff. 

Most of the monthly installment plans come with a standard deposit for about 3, 4, or 5 years based on the health conditions of the person specified. However, if one can pay off the entire amount in one go, then there won’t be a necessity to worry about any future payments. This kind of funeral planning gives more time to source funds for the last moment, and to ensure that the family members are not struggling financially.

• Can achieve peace of mind by planning a funeral as per our expectations – By going for a prepaid funeral plan, one can choose a funeral depending upon their likings. There are people who wish to have a simple funeral instead of large ceremonies, while some wish for a grand funeral with many events and gatherings. For all such expectations, choosing a prepaid funeral plan would be the right answer. Once the time comes, the funeral homes would undertake the proceedings as per the plan you chose, and the requirements you specified. 

• Gives more dignity at the final moments – It gives a proud and dignified final respect from the society. Socially acknowledging the demise with proper rituals and funeral practices would add more respect towards the deceased. 

• Gives time to choose the funeral elements – Every person has expectations about the things being used for their funeral, both emotionally and spiritually. Pre-planning the funeral also gives time to sort and choose such funeral elements like the choice of headstone, cemetery, cremation site, and the choice of coffin. 

• Helps to plan the inheritance and asset administrations – This is one of the main problems that many people face in their final days. By choosing the right funeral service and plan, one can decide when the inheritance should be moved and the asset to be transferred to someone. 

Final understandings on Prepaid-funeral plans:

Planning the funeral ahead of time helps to ease the efforts, time, and money for our loved ones. It ensures the happy ending of the person lost and to make sure that families don’t struggle financially at the time of the loss of their loved ones.