How To Save Money On Funeral Costs

Funeral services are considered definite expenses each person has to address in the future. If not set up early, the expenses involved may be a lot greater than anticipated. A way to plan your funeral ahead is thru funeral insurance services, but you could accomplish the same matter on your own, and at less cost. All the insurance firm does is arrange your funeral by hiring a particular funeral director. Usually, you and the director will work to agree on the services, and you will start paying now or in deferred payment schemes. This prearrangement is set up as insurance

policy so that the benefits will be tax-free.

Remember that when you purchase funeral insurance you are restricting your funeral service options. If the director bearing your "policy" goes out of business, you may be left with nothing— except if the money you paid was secured in a trust, you are somewhat assured that it won’t be utilized until it is issued for your funeral expenses.

Prepare for funeral expenses.

You could set up a trust fund for funeral costs through a bank. The bank will pay the yield of the trust upon your death to the funeral undertaker with whom you've arranged burial or cremation.

You may also make prearrangements with the funeral director to pay for the funeral fees less the $250 burial adjustment from Social Security, The Social Security check then could go

to him.

Funeral Services

Be aware that first and foremost, just like in any enterprise, funeral directors are there to earn profit.

The more they trade, the more profit they gain. If you are not careful in choosing a good funeral director you'll end up leaving less to your heirs.

Regarding the extra frills, you could choose to go extravagantly or use the money for other priorities -your living family, perhaps.

Here some ways you can save on funeral expenses:

Coffins need not be expensive. High-cost coffins might keep water out, but there is nothing that will keep the body from decaying. Generally, the difference between $2,000 and a $3,000 funeral expense is the luxurious coffin.

You will save on visitation and viewing costs when opting to have it done at home or in a church. This will bring down not only on usage of the funeral chapel but also on fees for funeral home employees.

Think seriously on whether you would preferably give an additional $1,000 or $2,000 to a funeral director or to your loved ones who may be more in need.

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