The funeral budget is a concern for people pre-planning their funerals and those organising a funeral for their loved ones. The looming issue for most people is how they can cut funeral costs without making a lot of compromises. This extract proposes a few ways to manage funeral costs.
1. Consider Pre-Paid Funeral Plans
Most people are sceptic about pre-paid funeral plans since they are an upfront cost. However, they are the easiest way to ensure your loved ones’ peace of mind once you pass away. Pre-paid funeral plans work like life insurance policies; they pay your funeral expenses.
There are several reasons to consider a pre-paid funeral plan. For example, the funeral plan accrues interest over the years. You can use this interest to cater to personal matters since it is not included in the funeral expenses.
Also, ensure that you work with a funeral service provider that understands the costs that a funeral can bring. Funeral service providers that provide comprehensive and cost-effective plans are often ideal to work with, as you can provide the service your departed loved one deserves without damaging your budget.
Look out for the following when taking the policy:
- Check the expenses that the policy covers. Ideally, it should pay for essential services such as the mortuary, cremation, cemetery and funeral director.
- Assess the payment plans. An ideal plan should have flexible payments to prevent you from straining your finances.
- Inquire when you can cash out some of your funds. Remember, the funeral plan can also act as a revolving emergency plan.
- Examine the policy terms. For example, can you make amendments? Can you choose your director? Will the plan work if you die in another state or country? Can you upgrade the plan?
2. Work With an Experienced Funeral Director
Your choice of director will significantly affect the funeral costs. Therefore, you should work with an experienced individual who understands every aspect of the funeral planning process.
An experienced funeral director will draw a funeral plan detailing the preparation activities. Besides, they will assess your needs and give a wide range of options to ensure you give your loved one a befitting send-off without blowing the bank. For example, if you wish to cremate your loved one, they will inform you about cremation options such as an ash scattering service, direct, memorial or traditional cremation.
Funeral directors offer comprehensive packages as they plan your funeral. Working with them prevents you from meeting and working with different service providers, which is not only strenuous but expensive. Besides, you are guaranteed discounts and flexible payments.
3. Prioritise the Essentials
An oversight made by most people is that they fail to prioritise the essentials as they plan the funeral. For example, they could spend a significant amount entertaining guests that visit their home before paying the funeral home. As a result, they exceed the funeral budget.
You can avoid this by listing priorities once you commence the funeral planning process. For example, you could pay the funeral director, funeral home, and cemetery costs at the earliest possible stage. It guarantees you have a funeral even if the budget gets depleted.
When planning a funeral, cut costs by considering pre-paid funeral plans, work with an experienced director and prioritise the essentials.
4. Discover Pre-Arrangement Services
There are two parts to a pre-arrangement: pre-arrangement and pre-payment.
Pre-arrangement is where we hold the paperwork for someone’s funeral and can act when the time comes. People can do this to have peace of mind that everything is completed, and they don’t need to worry about paperwork and information when they are grieving.
Pre-payment is where they can pre-pay their funeral or cremation. We use a funeral bond company called Sureplan that holds the money for when the time comes.
We use Sureplan for a number of reasons. You receive flexibility in payments you can pay up front or have a payment plan. You can stop and start a payment plan at any time. Sureplan is also safe. They have been around for many years. Money accrues interest which accounts for our price increases. The money doesn’t account against your asset test if you are on the pension and also the interest earned doesn’t get taxed.
At Cremations Only, we understand that grief and despair could prevent you from handling all the aspects of planning a funeral. Our directors have the expertise required to offer all kinds of funeral planning services. Contact us today, and let us give your loved one a befitting funeral.