The cost of the funeral is a matter of choice and we can help you set funds aside in order to cover the final expenses. People don't realize that even the most affordable funeral options will still costs a substantial amount of money. A funeral tomorrow will not cost the same as a funeral today. Besides caskets and cemeteries, there are other factors that can contribute to final expenses. Many families purchase flowers for visitations and monuments after the burial. Some may consider a luncheon after a service or accommodations for out of town guests. We navigate funding the funeral with insurance products or irrevocable trust accounts.
Funeral Insurance, sometimes referred to as burial insurance, is a small life insurance policy purchased to cover final expenses. Considering cost can add up quickly, insurance is a good pre-emtpive decision when considering funeral planning. Burial insurance options allow the family to select an amount of coverage and pay month by month up to 10 years. At the time of death, the policy can be assigned to the funeral home. Flexible underwriting and a two question application ensures most people will be approved without subjecting one to a medical examination. Rates and payment options, however, are based on your age and amount of coverage.
IRREVOCABLE TRUST ACCOUNTS
Irrevocable trust accounts are deposit accounts set up through our firm. Monies deposited may be at your own pace and your own schedule, however, deposits are unable to be withdrawn until a death has taken place. The idea of trust accounts is to grow the money at a rate that will offset the future operating costs of the firm. It is common for current pricing to be offered for the funeral services, even though the services will be provided at a later date when costs are likely to be higher. Consequently, a prepaid funeral is a good investment. Deposits will released when the bank receives a death certificate which our firm will provide at the time of death.