How to Cover Funeral Expenses for Seniors Before Death
Funeral expenses are often left to family members to handle after a senior has died. Options are available, however, for paying for and setting up the funeral before the senior dies. Whether the senior is nearing death or has decided he does not want to leave his loved ones with a large expense at the time of his passing, covering the funeral before hand is a good idea if it is done correctly. Not every prepaid funeral is the same and not every funeral home will offer a plan that is suitable for your situation.
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Instructions
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Research prepaid funeral options at the funeral homes in your area. Request the details in writing from each one and take them home to compare.
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Look through the fine print of each prepaid plan to determine what would not be covered by the plan. Some plans will include everything down to the police escort for the burial while others will expect payment for things like programs and transportation to be paid once the senior has died..
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Check the money back requirements and whether the plan would transfer to another state if necessary. Some of the larger, corporate funeral homes do transfer the prepaid plan to other participating funeral homes within their company.
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Select a prepaid plan you are comfortable with and set an appointment with the funeral home to complete paperwork. You will be given the chance to select a specific casket or a variety for your loved ones to choose from before the funeral.
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Set up payment arrangements that you are comfortable with and that will guarantee the funeral is paid for before the plan is needed. Ideally the plan will be paid in full within five years.
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Keep all the paperwork given to you by the funeral home and proof of payment in a place that it is easily located once it is needed. Inform family about the prepaid plan as soon as you have a contract with the funeral home. If you were to die before you completely pay for the funeral your family can pay the lump sum remainder to use the plan.
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Tips & Warnings
Consider joining a memorial society. Over 200 memorial societies operate throughout the United States and Canada. The volunteer, nonprofit organizations advocate of pre-planning and freedom of choice in funeral arrangements, reports the website seniors-site.com. Memorial societies generally do not provide merchandise or funeral services directly; they seek contracts or arrangements with cooperating funeral providers to take care of the needs of their membership, the website says. Membership in a memorial society requires a one-time fee of usually between $15 to $25. A member who dies while away from his society's area can be served by a memorial society near the place of death. Memberships are also transferable if you move. Most societies belong to the Continental Association of Funeral and Memorial Societies or the Memorial Society Association of Canada.
Look at the pre-paid plans of well established funeral homes. If the funeral home closes down, you risk being out all your money.
