The number of people using prepayment plans to organise their funeral has more than doubled over the past three years. With a variety of different prepayment plans and the chance to tailor make your own funeral, prepaid funerals are an increasingly popular way to securely organise your funeral and reduce the stress for your loved ones. In this article we will look at the advantages that prepaid funerals offer you and your family, and consider some of the factors you might have forgotten.
Secure Finance
Ensure that you chose a reputable company who will keep your money secure. Prepaid funerals offer you the chance to save your money for a specific purpose, so you know exactly how much you have saved for the occasion. Another important thing to consider is how interest rates can affect your savings. As when saving with a bank or building society, you want to be sure that your savings won’t be eaten away by inflation. Therefore consider choosing a funeral director which secure your savings in Government index-linked investments. This can keep you safe in the knowledge that your money is secured safely and will be worth just as much as when you first put it in. Finally, many prepaid funeral plans will offer you the chance to freeze the price of your funeral, meaning you can avoid the rising cost of funerals.
Peace of Mind
One of the main advantages of prepaid funerals is that you will not have to worry about family having to cover the expensive cost of funerals. By covering the cost yourself through prepayment plans, it is unaffected by inheritance tax and will thus be used completely as you wish. With the option of spreading the payment out over a long period of time, you can plan for your funeral years in advance in the knowledge that your money is safe. By prepaying for your own funeral, you are thus avoiding any extra trauma for your loved ones, meaning that they can avoid covering any hidden costs. Finally, you can chose the funeral that you want. With many prepaid funerals offering you the chance to tailor make your own funeral, you really are in charge of how you want to be remembered.
Other factors
One of the main advantages of choosing prepaid funerals is that your plans and payment are unaffected by relocation. With old age, many people move into more practical housing or into a bungalow or care home. However many funeral directors work together, meaning your decision to move home will not affect your funeral plans.
Talking about death and planning for a funeral can be upsetting and distressing at the best of times, so choosing to prepay for your funeral might seem an ominous task. However, death is unfortunately inevitable and thus prepaid funerals can provide you and your family with security and peace of mind.
