How to Make Coping With Loss a Little Easier

Posted by Pekin Insurance on Oct 28, 2015

Prearranging your funeral takes the burden off of your loved ones.

Funeral planning is difficult for everyone involved.  But funeral planning is much more than an emotional burden.  Because the average funeral in the United States costs about $7,000, funeral planning can be very much a financial burden as well.  The last thing anyone wants to worry about during such a difficult time is arranging for funeral costs.  That’s where funeral prepayment comes in.  Funeral prepayment allows the individual to pay for a funeral pre-need, simplifying funeral planning by creating a plan for payment up front.  This prepayment eliminates undo stress at a time that’s better spent enjoying precious moments with loved ones.  

How does it work?

When a person decides to prearrange and prepay for funeral expenses, the funeral director is required by law to place the money in “trust.”  At Pekin Insurance, this prepayment is called Pathway® life insurance.  Click here to learn more!  With funeral prepayment, the funeral is paid for with either a lump sum or a series of installments.  At the time of need, money is generally delivered to a predetermined funeral director to carry out the individual’s wishes.  

Where to begin

First, begin by completing a funeral checklist to get an idea of the type of funeral you would like to celebrate your memory.  A link to a funeral checklist can be found here.  Once you have a good idea of what your funeral will look like, begin visiting funeral homes in your area to get an idea of the cost to carry out your wishes.  Because there can be a wide disparity in costs from one funeral home to the next, it’s a good idea to visit several before making any decisions.  Once you have decided on a particular funeral home, get a complete cost estimate on the items and features of your funeral.  This will enable you to take out a policy large or small enough to cover your specific costs.

Why it makes sense

At the end of life, expenses can add up quickly, including costly health care bills.  By prepaying for your funeral, your funds are protected during long-term care or illness.  With proper funeral prepayment, you’re guaranteed that finances are available when and where they’re needed.  So when the time comes, you and your family can have peace of mind knowing that the burden of funeral payment is already taken care of.  Contact a Pekin Insurance agent to discuss how funeral prepayment can help you!



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