A funeral pre-plan can be as simple as a written document jotting  down your last wishes and preferences and  it can be significantly enhanced when used in conjunction  with  insurance. This is what is more commonly referred to as a funeral insurance because it provides the added value of a cash payout at the time of death  that is specifically designed to pay for all of your end-of-life expenses.

Some of the Advantages of a Funeral Plan are :-

?     You or your family will never be liable to pay for any other costs that may present itself at the time of the insureds death regardless of the increase in prices that may come in the future. No savings account can provide such a guarantee. In recent years funeral expenses have increased drastically due to inflation.

?     Minimize grief and stress, it is a fact that most people do not even know where to start when faced with death for the first time in their family, having a funeral plan in place can significantly minimize many stresses and pressures that will be hovering over the family during this time.

?     With pre planning and having a funeral plan in place you minimize if not eliminate family disagreements and “guesswork” that might take place, due to the family not knowing what you would have wanted for yourself upon death, cremation? Burial? And so on.

?     When creating a comprehensive funeral policy, you are granted the option to choose your beneficiary. This can either be a specific  Funeral Home, Cemetery, or your heirs… or any combination

?     Should you have decided to allocate either a  Funeral Home or Cemetery as your beneficiary, your family or dependents can use any excess funds for whatever they feel necessary, maybe to  pay of any outstanding debts such as your credit cards or mortgage, hospital bills due, or any other use that feel the funds can be used for .

Disadvantages of a comprehensive Funeral Plan can be :-

?     If you choose your family or loved ones to be the beneficiary of your Final Expense Insurance, your family or loved ones have the right to decide to carry out your funeral preplanned …or not. This is a  reality in this day and age, appointing the wrong beneficiary can create chaos for remaining dependents, make certain the beneficiary you pick is a mature, educated and responsible individual should it be a family member or any other individual.

?     Since the amount of insurance is usually a fixed amount, it may not be enough to fully cover the total costs of your funeral and/ or the costs related to the settlement of your estate.

Whatever you have decided to pre-arrange , it is imperative  that key members of your family know what is in place and where it can be found.

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