Should You Prepay Your Funeral Expenses |
Posted: March 25, 2015 |
Many people have realised the importance of funeral parlours in protecting their loved ones from hefty financial and ceremony decisions in the time of grief. They consider prepaid funerals. Here are some tips to help you decide whether to have a Prepaid Funerals or in your Funeral Planning. Why should you go for a pre-paid funeral plan? Prepaying your funeral will not only save you loved ones from distress of decision-making, but also reduces the financial burdens. You have the chance to pay for your funeral with the current cost. You will also have the opportunity to select the services you want, and you will compare services and value of various funeral homes. In addition, you will be able to maximize your pension power since it is not subject to assets or income test. What does a prepaid funeral plan include? You can have a customised prepaid funeral plan designed to suit your wishes. The plan may include cremation or burial option to choose, style and type of service, flower arrangements, type of casket or coffin, minister, mourning vehicles, music, death notices and anything specific you requires. The prepaid funeral plan is not a universal thing. Some have more options than others. You should have the following before you invest in a given prepaid funeral plan: Compare Different Plans In the major cities of Australia, the average funeral coast is approximately $4000 - $6000. This depends on the services that you will choose. Funeral directors are required to give itemized cost of all services and goods you need to purchase by the AFDA (Australian Funeral Directors Association). Track your invested money It is your right to know how and where your investment money will be secured, therefore, do not hesitate to ask the funeral home about it. Most funeral homes invest the money in the trust fund until it is needed. To avoid falling victim of the increasing number of scams, enquire about the safety of your money. Enquire about the terms and conditions of the contract You do not your family members to be blocked by terms and conditions you did not understand. Ask about the cancellation policies and how much in refund you will get once you cancel. Know if the specification of the contract can be altered in the future When selecting from various alternatives, you should consider the following matters. Remember you are entitled to a full refund with no or little penalty, and you should be able to transfer your plan if you decide to move. Yu should ask the following: Will I still be covered if the death occurs interstate or overseas? What happens if you move your residence? What happiness if the funeral director goes out of business? What are the legal complacencies and what happens if you waver on any instalment? In what way or possibilities that funds are transferable to other funeral homes? It is recommended that you have a prepaid funeral. You should, however, be careful not to be scammed. Funeral planning will give your family relieve on financial and arrangement stress during the hard time. You will also get your funeral wishes. Jeniffer enjoys blogging and nurtures interest on all most all topics. She contributes in many reputed blogs, social platforms and makes her living as a content writer. She is associated with Shout, an SEO agency based in Melbourne. NB:image source:mulqueen.com.au
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