If you need to organise a funeral, then you will also usually be responsible for paying for it. In the main, there are four ways you can deal with the financial burden associated with modern funeral services. The first is to fork out for the funeral costs from your savings. If you do not have a sufficient level of money tucked away, then you can also borrow. Some funeral directors offer credit while another option is to borrow from a high street lender. There again, the deceased might have taken out funeral insurance. Such a policy will pay out in the event of their death. Although it may not cover all of the funeral costs, it can go a long way to lowering your expenditure. The last option – and, perhaps, the most important – is pre-paid funeral financing. What is it and why is it so beneficial?

Pay For Your Funeral In Advance

Firms like Newrest Funerals that provide pre-payment plans for funerals do so because they are popular with increasing numbers of people across the country. By taking out a pre-payment plan, you can settle all of the costs associated with your funeral before you pass on. This way, no one will need to take out a loan in the event of your death, even if it is a short-term one until your estate is sorted out. By paying in advance, you will be covered once sufficient funds have gone into your scheme. You can also obtain insurance to go alongside your funeral pre-payment plan which will cover you if you were unfortunate enough to pass on after having only paid in a proportion of the agreed instalments.

Enjoy Peace of Mind

Not only does a pre-payment plan mean you can break the cost of a funeral down into affordable, monthly payments, but it will also mean you can stop worrying about rising costs. Typically, funerals cost over £4,000 these days and that figure looks set to rise with each passing year. Therefore, paying for your funeral now means locking in the agreed sum. Many pre-paid schemes are inflation-proof so look for one that will mean you can truly relax and stop feeling anxious about whatever the future cost of your funeral might be.

Don’t Pass Costs On

If you die and someone else has to pick up the bill, then it can cause considerable strain. Of course, everyone’s personal circumstances are different. However, paying for the funeral of a loved one can mean a lot of unplanned-for expenditure. Why ask those you leave behind to foot the bill when you can take care of matters right now?

Have the Funeral Service You Want

Finally, one of the main benefits of a pre-paid funeral worth underlining is that it means being able to get the sort of service you really want. If you leave matters until after you have passed on, then there may be insufficient funds to cover the type of funeral cortège you might like, for example. Perhaps you want to be buried or have an eco-funeral? If so, paying for it in advance means being able to guarantee you get the sort of service you’d prefer.

 

Print Friendly, PDF & Email

About The Author

MENU