It has been said, nothing is certain but death and taxes. The difference is, that most people plan for their taxes, and delay thinking about death and funeral planning as long as possible; and in many cases never think about it, leaving a mountain of work and expenses for the surviving loved ones. Oftentimes, the funeral preplanning is more distressing for those that will be left behind than for the one the actual funeral planning is for. Loved ones have a natural aversion to contemplating the mortality of family or friends. But managing and planning for the funeral arrangements beforehand can be a tremendous relief during the difficult time after the death of a loved one.
What is Funeral Preplanning or Preneed?
Preplanning a funeral is also known as "preneed" planning. Preneed involves the prearranging and pre-funding your own funeral. A preneed insurance policy covers the cost of the funeral at the time of death.
Why Should I Preplan My Funeral?
By planning your funeral arrangements beforehand, you relieve your family of having to make important financial decisions during a period of great stress and grief. Many people have never had to plan a funeral, and during this time it is difficult for your family to think clearly and it can be extremely stressful to make funeral arrangements and figure out how to pay for everything. If you have not made your wishes known, it can be even more difficult. Many people say, "Don't make a fuss. I don't want a ceremony. Just bury me and be done with it." The problem with that is that the funeral and related ceremonies are not as much for the deceased but rather for the family to gather and grieve your passing.
What do Funeral Planning Services Consist of?
Funeral planning services can be as informal or as detailed as you would like. Most funeral homes offer Funeral Preplanning services and funeral planning guides and can arrange preneed contracts that include as much or as little as you like.
Funeral Preplanning, when done properly, can give you peace of mind because you know that your funeral arrangements are ready and pre-funded and your loved ones will have that much less to worry about when the time comes.
Preplanned Funerals: The Benefits
• Make all the funeral arrangements during a time of peace and not leave them to your family during their time of grief
• Anyone up to the age of 99 years old may apply for Funeral Preplanning insurance and benefits. There is no medical examination required
• You control the funeral costs and protect from inflation
• Ensure that personal records are organized and easy for your survivors to locate
• Protects your insurance so that it provides for your survivors and not for funeral expenses
• Provide and control funeral planning cost protection in case the need arises before it is expected
Prefunding Your Funeral will…
• Spare your loved ones from financial worry at a time of need
• Fit your budget with various payment plans
• Control funeral planning costs
• Means funeral expenses can be taken care of today
• The plans offered through funeral homes provide life insurance benefits that are exempt from federal income tax when paid to a named beneficiary. Neither the increasing value of the coverage nor the total benefits paid at the time of death are federal income taxable