When you think about the fact that every day many people die unexpectedly for a wide variety of reasons, one of the best gifts you can give your loved ones TODAY is pre-planning your funeral. In fact, most financial professionals firmly believe that creating an end-of-life plan is an essential and necessary component of a sound comprehensive financial plan.
Since funeral pre-planning is viewed as a thoughtful and forward-looking strategy, it serves a very similar purpose to life insurance. And speaking of life insurance, a funeral pre-plan can be as simple as a written document spelling out your last wishes and preferences, or it can be significantly enhanced when used combination with life insurance. This is what is commonly referred to as funeral insurance because it provides the added value of a lump-sum of money that is specifically designed to pay for all of your end-of-life expenses..
THE FIRST commonly-used type of preplan is commonly referred to as a Family Record Guide. This Family Record Guide is basically a written preplan which consists of a detailed summary of key personal matters such as financial, insurance, last wishes, burial wishes, funeral preferences, and much more. This guide serves as documentation to summarizes exactly how you want your financial, personal, and funeral affairs to play out. You can locate a copy of the “Family Record Guide” in most Funeral Homes, Cemeteries, as well as by searching on the Internet..
The reality is that this memorial service is your end-of-life plan, so the purpose of pre-planning a funeral is mainly to turn this into the “celebration of your life”. This advanced planning helps accomplish this purpose, mainly because you are giving your family and loved ones a treasured memories by relieving them from the burden of making such difficult financial and emotional decisions during a time of loss.
The second most option for preplanning your ของชำร่วยงานศพ funeral is called a Pre-Need Plan.
By using this plan for pre-planning a funeral, you are creating a powerful gift of love by proactively choosing to create your comprehensive funeral plan in advance.
However, when working on creating a comprehensive end-of-life strategy, we strongly encourage you to seek the help of a credible and qualified Pre-Need Specialists. These experts can help you can create an “all-inclusive” funeral plan and contractual agreement.
The reason this Pre-Need Plan is often referred to as an “all-inclusive” plan is because it allows you to:
1. Create your end-of-life planning preferences, services, and select preferred merchandise.
2. Simultaneously purchase an insurance policy with an adequate death benefit (or face amount) to cover the total costs of this end-of life plan you’ve created.
3. This plan is insured for life, meaning that should the costs increase over time due to inflation, all of your funeral expenses are still FULLY locked in and covered, regardless of inflation and price increases over time.
Another main advantage in using a Pre-Need Plan, whether using an insurance policy or a Funeral Trust, is the ability to both preplan AND prepay your end-of-life plan. This allows you the peace-of-mind to know that your loved ones do not have to address many of the difficult questions, concerns, uncertainties, worries, or stresses…especially at a time of such grief and loss.
The third most common way to pre-plan a funeral is called a Final Expense Plan.
Similar to a Pre-Need Plan, a person uses both the prepayment aspect of a funeral preplan, and also attempts to take care of the insurance costs by purchasing a life insurance policy. This insurance policy is used to cover the final expenses of your end-of-life plan preferences, services, and merchandise.
However, Final Expense insurance is typically used because it covers a “fixed amount” of the costs associated with your funeral, as well as other possible expenses related to the settlement of your estate.