In an event that someone dies in your family or group of friends, planning for a funeral will both be painstaking and expensive. It is something that you will not be able to prepare, and it will definitely deplete your financial resources. It might seem a little bit odd to plan for a funeral ahead, but it will be easier for you and your family to partially pay for the expenses and mind the problem a few years ahead. We will all be going down the same road anyways, right?
Very few people know about prepaid funeral plans because it is kind of morbid to plan ahead of someone’s death when he/she is still alive and kicking. Nevertheless, there are many advantages of prepaid funeral plans that can help you ease out the pain when the moment arrives. It may be something you would want to consider as it gives great assurance that an untimely event will not be as miserable as it normally is.
- Peace of mind – Probably the number one reason why people consider paying for a funeral plan is the peace of mind it will give them and their family. Knowing the fact that everyone will be going down that path, it gives a certain kind of comfort and reassurance that if that event happens, you are already prepared for it. It will also lessen the burden of the family members who would have to pay a huge amount of money for the funeral rites. Prepaid funeral plans are usually paid in installments which is much easier than having to pay for it wholly in one time.
- Cheaper bill – Prices of funeral rites go up like the commodities. If you are going to pay for a prepaid funeral, its prices will go staggeringly high after 10 years or so. Due to the volatility of the inflation rate, paying for a funeral now will save you a lot of money in the coming years. Most common deaths nowadays are caused by illnesses. Hospitals bills are not cheap and if you are able to pay for the funeral ahead of time, it’s a huge chunk of the things you should pay for when the time comes.
- Plan for your funeral – Just like planning a wedding, planning for a funeral can be weirdly interesting. You would be able to customize the theme, the songs to be played, the ceremonies to be done, and how you want to be remembered by the people who love and surround you. It might be weird to think and do, but if you want your funeral wishes to be commanded, this is the best way to do it. Death is usually a very unexpected event and oftentimes, funeral wishes are ignored due to budget and time constraints. If you are really serious about your wishes, planning and paying for a prepaid funeral is the way to go.
- Not like any other insurance – Prepaid funerals do not require any medical or health checks prior to application and payment. You would definitely be approved immediately regardless of the state of your health, your age, gender, lifestyle, or even your blood pressure. Prepaid funeral plans are available to everyone, male or female, young or old, smoker or non-smoker. Because if there is anything more constant in this world, it is death. Funeral plans are not like insurance policies, although they give the same protection to people. People want to be insured in case they get sicknesses and accidents which would require a validation of their health status. People want to get funeral plans because they know that they will soon expire and that does not need any validation at all!
On the other hand, some people might think that prepaid funeral plans are rubbish and very ill-mannered to the person being given the benefit. It is bad to wish for someone’s death and having a funeral plan might give off the same message. A few advantages have already been given and have uplifted the reputation of prepaid plans. But it does not go away in mind that there are also disadvantages in planning for someone’s or even your own death.
- No guarantees in the funeral business – Just like applying for an insurance policy, you need to get to know your provider very well and make sure that they are backed up with good reputation and financial standing. Funeral businesses rely mainly on the mortality rate of the area they are servicing. If this rate goes down, they might go bankrupt and your dream funeral plan might go down with it. If you plan on paying for a prepaid funeral and you think you still have a long way to go, it might be something to get off your mind.
- Difficulty in amending any changes – If you are going to move to a different place or country, transferring your funeral benefits might be hard to do. If you have other minor changes that you have already signed up for, they might not be granted by the funeral provider. Funeral plans or not like insurance policies where you would still be able to update some settings here and there if the situation demands it. You might have to stick to whatever you signed and agreed upon. Transferring funeral benefits is also commonly prohibited and might take court action to be considered.
Paying for funeral plans in advance takes a lot of thinking and effort to do. You have to weigh your options well and know the funeral provider before you commit to any contracts. Planning for an event that you know will eventually come gives quite a good assurance that you and your family will not be troubled and buried in debt when it arrives. However, you need to be smart in deciding when to have it, what plans you must avail, and the reason you are applying for. Only time will tell if this will be a good decision or something to just be buried in your mind.