The Benefits of Prepaid Funeral Plans - Dennis B. Dahlberg
The loss of a loved one is a difficult time for families and planning a funeral can make it even harder. Carrying out the last wishes of a loved one may also prove to be difficult and costly. These are just some of the reasons many people look for a prepaid funeral plan or burial insurance.
A prepaid funeral plan or burial insurance can assist a family to be as stress free as possible, and at the same time all last wishes of their loved one can be planned and carried out without incurring any major financial setbacks.
According to the National Funeral Directors Association, the average cost for an adult funeral is approximately $8,500. Depending on the arrangements the price can climb as high as $10,000.
There are three primary reasons to plan for a funeral in advance. The first is that it makes your last wishes clear and that you will have the comfort of knowing your plans will be followed. The second reason is that it makes it easier on loved ones and it will save your family from added stress during a difficult time. The final reason is that you can make smart spending decisions and have your funeral services covered now so it does not cost more later.
When you shop for a funeral home, ask for a general price list. This will help you understand the types of services offered as well as a price for each. You can also visit www.consumer.ftc.gov for more information.
The other option might be to purchase a burial or funeral life insurance policy as another practical method of ensuring available funds for your final expenses when you would pass. Final expense insurance, also known as burial insurance, is a type of life insurance that is specifically designed to cover outstanding expenses and funeral costs after you pass away.
Typically, in most cases, these types of arrangements will comply with Medicaid and Social Security regulations.
We would appreciate the opportunity to discuss your estate planning needs with you, and we stand ready to assist you in your current and future needs. Please feel free to contact one of our attorneys for a free consultation at 614-670-8103, or visit us at www.dsflawfirm.com.