Is it a good idea to pay for a funeral plan this 2020?

For those who wish to plan ahead, paying for a funeral plan can be an excellent way to ensure that you are financially prepared for the costs associated with burial and cremation services. While there are other alternatives, such as life insurance, or investing, we will explore them all below.

What is a funeral plan?

A funeral plan sets aside a funeral at today’s prices. With a funeral plan, you pay a pre-established amount of money to cover the cost of your future funeral services, the full amount of which is released at the time of your death to cover all agreed-upon expenses.

This protects the client from the annual price and fee increases we are currently seeing in the funeral industry. With the price of a funeral rising much faster than inflation, the average funeral is expected to be a financial hardship for many families.

What are the advantages of a funeral package?

In addition to setting aside your funeral at current prices, a funeral plan gives you greater control over the details of your funeral.

It also gives you the opportunity to choose your preferred funeral home, ensuring that your funeral is not in the hands of someone you have not directly approved.

What does a funeral plan usually include?

They usually do not cover all funeral costs, but most will include:

• Funeral home fees. This would generally include collecting the deceased, transporting them to the funeral, arranging the funeral service, paperwork, and basic care of the deceased (washing and dressing them, for example).
• The coffin. This could be a simple, inexpensive casket or a more elaborate wooden casket.
• Hearse or hearse. Basic plans will generally include the cost of hiring a hearse to take the deceased person to his or her funeral and to the cemetery or crematory. You may also be offered additional funeral cars or limousines for the family at an additional cost.
• The flowers, the cremation or burial.
• Administrative expenses. Most providers will charge an administrative fee for their work in setting up the plan.
• Cancellation fees. Some providers will charge you if you wish to cancel your funeral plan at a later date.

It is important to check the fine print of any funeral plan you purchase to make sure what is covered and what is not.

Because funeral plan providers cannot control all the costs involved in a funeral, your family may have to pay a little more when the time comes. But the plan must cover all or most of the services you will need.

How do funeral packages work?

You can purchase a funeral plan by paying in advance or in installments. The money goes into a fund with an insurance policy, which will be used to pay for the service when the time comes.

Depending on where you purchase your funeral plan, you may be asked to choose between different packages. A higher cost package could include more funeral cars, a more decorative casket and potentially more flexibility with the time and date of the funeral.

Can you pay for funerals monthly in advance?

A funeral service plan saves your family the stress of planning and paying for your funeral by arranging everything in advance.

Most pay-as-you-go funeral plans cost between $20,000 and $80,000 pesos on average, and cover any funeral costs that are under the provider’s control.

Questions to ask your funeral plan provider

If you are interested in purchasing a funeral plan, the questions you should ask a provider are:

• What costs are not included in my funeral plan?
• Is it possible to cancel or modify the plan if circumstances change?
• Is there a cancellation fee?
• What happens if there are outstanding payments at the time of death?
• Do I have to use a certain funeral company?
• Can the family make changes to the funeral if they wish?
• What happens if death occurs abroad?
• Is there a clear complaints procedure?
• What happens if the Funeral Home closes?
• If you wish to have the funeral in another state or municipality, is it possible?

What are the alternatives to a funeral package?

Insurance Policies

Advantages Life insurance policies.

Lifetime protection for age 50 and over will pay an agreed amount at the time of death. This means that it may go some way toward covering funeral costs, depending on how comprehensive your coverage is. It is often the best option because your family receives a larger amount than a funeral home package would cover.

Disadvantages Life insurance policies.

Funeral plans require you to pay a fixed amount, while life insurance requires a regular payment until the time of death. Depending on how long you live, there can be a big difference between these two figures.

Life insurance costs can also be extremely high if you have pre-existing health conditions, whereas this is irrelevant in a funeral plan.

Funeral plans also allow for much greater control and put all important decisions in your hands. With some insurance products, you may not even have a say in whether you want to be buried or cremated.

Savings and investment accounts

Most savings accounts do not generate much interest at this time, but you can always set aside a portion of your savings to pay for funeral expenses. Other alternatives, such as investing money, can help pay for funeral expenses.

At Boinita we can take care of the cremation of your loved one. Then, once we have returned the ashes to you, you can arrange a simple memorial service that is perfect for you and your family.

For more information about our service go to http://boinita.com

Boinita offers Single Cremation services without a Funeral Service, with a fixed price and 24-7 customer service. Boinita is located in the metropolitan areas of Aguascalientes, Cancun, Hermosillo, Merida and San Luis Potosi.

In Pet Cremation Services we are located in the cities of Aguascalientes, Cancun, Chihuahua, Ciudad Juarez, Leon, Merida, Puebla, San Luis Potosi, Tijuana and Toluca.