Pre-Paid funerals are described as the type of funeral that has been paid for in advance. This style and funeral type is documented into a written up contract and will be paid for at the price of a funeral today. Typically, the client will not need to pay any additional charges contracted into his or her funeral regardless on the date that the funeral will be required. The payment for a Pre-Paid funeral will be invested into what is known as funeral fund that is independently managed and these funds are only released to Funeral Directors after the funeral service has been completed.
The Benefits Of Pre-Paid Funeral Plans
Any person can take advantage of a Pre-Paid Funeral Plan. These plans are not subjected to the persons age or their state of health. Below are a few important benefits related to these plans:
- This plan can protect the individuals from the issues related to making decisions that are difficult in this emotional time
- The family of the individual is not dumped with the financial burden of having to pay for and organize the funeral
- The individual can ensure that their final wishes are executed once they die
- Pre-Paid funerals are regarded as good financial-sense, as one is able to choose the funeral they want and the price is related to todays costs
- Pre-paying for a funeral enables the individual to increase their pension entitlement
What Do Pre-Paid Funerals Include?
The contract for Pre-Paid funerals allows individuals the chance to reflect on their final wishes and can include what the person wants. However, below are a few aspects to consider:
Who Will Keep The Money For A Pre-Paid Funeral?
The money put into a Pre-Paid Funeral Plan will be secured an held by independent entities like a trustee company or friendly society and will be safeguarded as well as properly invested until the funds are required. The payments for a Pre-Paid Funeral Plan can be settled in one lump sum or the individual may organize with their Funeral Director to pay the amount off in installments.
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