What You Should Know About Pre-Paid Funeral Plans

Pre-paid funeral plans remain a hot topic in the country as more Americans look at the cost of funeral services versus cremation.  Confusion and misinformation can cloud the decision-making process, so this post shines light on the benefits of end of life planning, beginning a payment process and ensuring your choices remain intact.

The concept of making funeral or cremation arrangements seems depressing or icky, so we often put those thoughts off until later. Often, though, later becomes too late to plan and share our choices. Look at it this way, planning ahead for a funeral or cremation and beginning a payment plan is the final gift you give to your family.

Anyone who has had to quickly plan a funeral after an unexpected death knows how stressful it can be on loved ones scrambling to make decisions under duress. Your passing should bring your children, grandchildren, siblings, and other loved ones closer together, not drive a wedge between them because they can’t agree on a proper send-off for you.

Taking some time to determine your preferences and writing them down is a great step in the direction of end-of-life planning. We offer a free funeral pre-planning webinar about the process to get you started.

Pre-Paid Funeral Benefits

Once your funeral or cremation arrangements are made and paid for, they cannot change after you pass. (You can always update your wishes and arrangements while you are alive.) Your family cannot alter your plan after you die, unless stipulated in your arrangements.

Once you pay in full, the price never changes, even if you live for several more decades. You won’t — and your family won’t — owe any more money toward the services you pay for in advance. However, there may be some third-party costs, such as cemetery fees or obituary costs, that are not part of the pre-paid funeral arrangements. The services you arranged and paid for will be provided (or as comparable a service as exists at that time) and your heirs and survivors won’t need to pay for the cost of a traditional funeral and burial ceremony.

Planning is Not An “Old People Thing”

End-of-life planning and making financial arrangements can start at any age, such as:

• 20s and 30s: Getting married and having kids can be an “aha moment” that starts your plan.
• 40s and 50s: As your parents begin to show signs of aging; when someone you know falls ill; when there’s a death of someone you know well – these are all triggers to begin your own planning process.
• 60s: Begin your plan concurrently when meeting with a financial planner about retirement details or making life insurance arrangements.

At Phaneuf Funeral Homes and Crematorium, we’ve always practiced the idea that transparency equals trust. Therefore, all of our costs remain current on our site. Read more about why funeral and cremation costs should be transparent across the board.

You may have more questions. If you’re on the fence on the planning subject and seek additional information, our funeral planners will come to you.