Death is the ultimate truth of life, and investing in it from before is not a bad decision at all. Looking into the market’s current situation, we see that funeral costs are rising daily. Several studies suggest that around forty per cent of people book their pre-paid funerals.
People are investing their money on various pre-paid funeral plans before their death, which is truly a financially wise decision.
Pre-payment of funerals can either be done with a lump sum amount or through easy instalment options. Different funeral shop owners provide flexible payment methods for customers. Customers also pay an advance on their selected funeral merchandise whose price would remain the same at their death irrespective of the inflation that would go on during that period.
The prices of the whole funeral ceremony have gone too high in the recent period. The basic cost of the whole episode can cost anywhere around $6000 to $8000, including viewing. But it does not consist of buying plots for the cremation. In the last 30 years, the cost of a cremation ceremony has gone up to around 27%. The prices might vary a bit from one region to another, but the inflation factor is quite true across the whole country.
Advantages Of This Service
Pre-paid funeral plans have a lot of advantages, including the fact that it helps the family select the type of merchandise they want. It also takes the financial burden off from the next generation. Thinking about the whole process saves a lot of money as the price remains constant to the period when the pre-payment was done. This eliminates the inflating price factor from the whole system. The process also helps protect a person’s assert in case they qualify for Medicaid going to a hospital.
It has been found that labour is the biggest expense in the whole procedure. In recent times, it has been observed that around one-third of the funerals are arranged and paid ahead of their time.
Talking to different people who have opted for pre-paid funerals for their parents, it was found that the whole procedure made them stress-free and gave them peace of mind. They were able to save money and carry out the last wishes of their loved ones effectively.
An Alternative
The cost of cremation is quite affordable compared to traditional funerals. For cremation, the person’s body is cremated at a given temperature, and the ashes are then placed in a plastic bag and returned to the family. The procedure for the ash cremation depends on the family. It can be buried in a cemetery, mausoleum, or even in the ocean. But all of these can be done by abiding by the state’s laws.
Thus, pre-payment is a good choice, financially and emotionally. You can talk to your nearest funeral home and inquire about their available plans.
