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Facts To Notice When Seeking Funeral Prepayment Schedules

By Lisa Buick
The strong emotions accompanying the death of a loved can make sound business decisions regarding final expenses more difficult. Family members may ultimately spend far more than was anticipated or necessary. Funeral prepayment plans are designed in principle to eliminate the need for making those hurried, last-minute decisions.

Buying a particular plan from a local, trusted service director can ease those concerns. The concept of having all final affairs in order is satisfying on both emotional and practical levels, but that appeal does not alter the reality that doing so is a major financial commitment for many people. Comparing individual plans is vital.

Choosing one of these plans is similar in most respects to buying insurance coverage against consistently rising funeral expenses. The payment for these future services can be made in one lump, or spread out over time. For some buyers, extended payments can actually end up costing more than the value of the original plan.

Making sure these details are fully illuminated requires carefully reading the fine print. Funeral industry regulations vary widely by state, especially in the amount of money that must be kept in the policy trust fund. Well-documented abuses have occurred, and local regulations need to be carefully examined and understood.

Other concerns include provisions for making changes when necessary. Cancellation of a plan might not guarantee a refund, and purchasing one does not always mean that all expenses will automatically be covered. Understand your rights and benefits before signing anything, and arrange to be kept current with any updates.

When consumers approach this type of personal investment with eyes wide open, and compare their options locally, buying a prepaid plan can help deliver the promise of increased peace of mind. For many people, the idea of saving others from the burden of making final arrangements is well worth the time and effort it takes.

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