Prefunding your funeral service is a growing trend among those who wish to relieve their families of the financial strain that may be placed upon them when a death occurs.
Among the advantages of prefunding are the following:
- Your family can have the assurance of knowing that you have selected and paid for the type of funeral services and merchandise (casket and outer burial container) in advance of the need. They can walk into the funeral home at the time of need and bring with them no money. It is already cared for.
- You can set aside the money for your funeral expenses in a way that would protect it should you ever need Medicaid assistance for nursing home or other care. Many families have had extensive medical bills near the end of a life that have used up assets. Prepayment assures your family the type of funeral service you have deemed appropriate.
- Payment plans are available, some of which also provide the inflation proof guarantee. Under some circumstances, if the death occurs before the funeral plan is completed, the balance will be forgiven.
- Prepayment does NOT lock you into the funeral home where the arrangements have been made and paid for. Monies paid to a funeral home are placed in your name in such a way that they are transferable to another funeral home should you move or choose to use another facility.
Some forms of prepayment can afford your family extra benefits such as:
- Additional money paid to your family or estate if your death occurs as the result of an accident as defined by the laws in the state of Illinois.
- Funerals paid for anywhere in the United States, at no additional charge and without affecting your funded prearrangement in the event that one of your children, grandchildren or great-grandchildren should die while under the age of 21 years and still unmarried. Some restrictions do apply.
Prefunding your funeral could save you much expense if you will need to be applying for Public Aid for assistance with medical care costs. Many families have found that timing is very important where this matter is concerned.
Again, please feel free to call the funeral home at (217) 243-1010 and email us at ahfh@airsman-hires.com for further information.
