Today’s people have now realized the importance of planning ahead. Whether it be for trips, business plans or setting up a family, it’s always good to be prepared beforehand.
This is the reason why there is a need for insurance: and not just regular life insurance. Other than the funds given to families after the death of someone, many financial institutions and even burial/funeral homes now offer burial insurance. These are funds prepared specifically for the purpose of paying for one’s funeral ceremony; from the wake and preparations to the actual burial plot and coffin to be used. This takes a big weight off a family’s shoulders; they no longer have to think about their loved ones funeral arrangements while they are in a state of mourning.
Difference of Burial Insurance and Pre-payment Funeral Plans
Of course, there is a slight difference between burial insurance and a pre-payment for a funeral plan. While most burial insurances work much like life insurance, where in you receive the money itself for funeral services, a pre-payment funeral plan allows you to select everything beforehand, from the type of funeral service, casket, the flowers to be used, the headstone, burial plot to the manpower required to dig and fill in the grave. You pay for these in advance, and in doing so you might have an advantage over paying in the future, when the costs of such could become much higher.
Pros and Cons
An obvious benefit of the pre-payment method over the burial plan is the fact that you would be assured of having everything pre-arranged and would not have to worry about booking funeral homes and all the strings that come along with it in an already stressed out time of mourning. Since everything is already set up, with experts handling all your funeral needs, all you have to do is simply be at the funeral. A drawback however, would be the fact that you have to pay for the service in full, and such services could deplete you of as much as $6000 to $10,000. Wherein with burial insurance, there would only be weekly or monthly premiums ranging from $3 to $5, and just like life insurance, you would be able to acquire the amount you had agreed on if even if the death occurs way before you reach the amount in the plan you pay for, which could go as high as $18,000. Another good thing about burial insurance is that you would not be stuck with the choices you made in the past, and would be able to change whatever you see fit in your funeral service accordingly.
Such funeral systems are not only practical, but they can give comfort and peace of mind as well. Whichever funeral plan you choose, whether it’s the pre-payment method or burial insurance, what is important is that you plan ahead, either just for yourself or your entire family, so as to make the experience of losing someone as easy and as painless as possible for all the loved ones that will be left behind. In a world of sudden changes, it always pays to be prepared.