Prefunding your final arrangements is critical. No one wants to leave a financial burden for their loved ones, which could leave them in debt, and cause family disharmony. Prefunding is setting aside funds today, at today’s prices, so you can be certain the money will be there to pay for your services in the future. Funeral costs, like many other valuable services, increase over time and are expected to continue to increase significantly over the next decade. In fact, funeral related expenses have nearly tripled over the past 25 years.
There are a number of benefits to prefunding your funeral:
- Funeral services may be carried out at little or no additional cost to your family
- Funds are immediately available to pay funeral costs, with no waiting period due to probate or other delays
- Flexible payment options are available to meet your needs today
- You may be eligible for full benefits even before all your payments are made
- The benefit amount grows over time to help offset inflation and that growth is not taxable to you