As you work through your estate planning checklist, you’ll eventually have to decide whether you’d like to pay the costs for your funeral expenses in advance. An easy way to do so is with a Preneed Funeral insurance plan.
A Preneed Funeral insurance plan, also known as burial insurance, covers funeral expenses that can include everything from the casket to flowers to transportation for the family. In order to create your policy, you’ll need to spell out your wishes in a preplanning appointment with a Preneed agent, who is associated with a funeral home. The Preneed agent will total the costs, and that amount is the basis for your Preneed insurance plan. Upon your death, the funds are given to the funeral home to pay for your funeral, rather than to a beneficiary.
Your Preneed agent will walk you through the four steps to preplanning your funeral, but you’ll also want to go into your preplanning appointment prepared. So, as hard as it is, you’ll want to consider details like where you want to be laid to rest and what features you want included at your memorial before your preplanning appointment. Ask yourself questions like:
With Preneed Funeral insurance, you can be as thorough with your service as you want to be. This means that if you have a preference for the specific details in your service, you should consider those before your appointment as well. Details you may want to think about include:
If you’re having a hard time making any of these decisions before your appointment, or if you just don’t know how to plan a funeral, we are here to get you started. Sometimes people just don’t know what they want to do. In that case, it can help to start by asking yourself what has been traditional for your family. If your family doesn’t have specific traditions, you may be able to start new ones with your preplanned service.
You can always ask the funeral professional what they recommend as well, and you can get quotes on types of services to help you narrow down your choices.
You’ll also want to make a list of questions to ask your Preneed agent at the preplanning appointment, such as:
Once you’ve made your funeral decisions, you’ll want to ask your Preneed agent what your plan and payment options are. For example, Wellabe offers three Preneed Funeral insurance plans — Course, Voyage, and Destination — and a variety of payment options. A Preneed agent can describe each plan, so you can determine which one is right for your situation.
So, see where you can find a funeral partner in your state and start your care with Wellabe today.
Photo credit: iStock
Kelly Rayburn, AVP national sales and distribution at Wellabe, and Olga Villaverde, from Lifetime TV’s The Balancing Act, explain the importance of preplanning your funeral. While a difficult subject, advance planning can alleviate financial and emotional burdens for your family members.
More topics at thebalancingact.com
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