Pre-Need Plans

Benefits of Pre-Need Plans

Cost Certainty: Pre-need plans allow individuals to lock in the cost of funeral services at today’s prices, protecting against future inflation. This provides financial predictability for both the individual and their family.

Reduced Decision-Making Stress: Planning in advance relieves grieving family members from the emotional stress of making important decisions during a challenging time. The individual’s wishes are already documented, easing the burden on loved ones.

Personalized Services: Pre-need plans enable individuals to specify their preferences for funeral services, including casket type, burial location, and any specific rituals or ceremonies. This ensures a personalized and meaningful farewell.

Benefits of Pre-Need Plans

Preventing Financial Burden: By pre-paying for funeral expenses, individuals can spare their family members from unexpected financial strain associated with funeral costs. This can be especially beneficial for those on a fixed income.

Customized Payment Plans: Pre-need plans often offer flexibility in payment options. Individuals can choose to pay in a lump sum or through installment payments, accommodating different financial situations.

Compliance with Final Wishes: By planning in advance, individuals can ensure that their final wishes are respected and carried out. This can include specific requests for the type of service, burial, or memorialization.

How To Choose a Pre-Need Plan

Follow these general steps to find a Pre-Need Plan that fits your needs and budget.

IDENTIFY
YOUR NEEDS

Identify your specific needs, such as funeral expenses or memorial services, to determine the coverage required from a Pre-Need Plan.

RESEARCH
REVIEWS &
RATINGS

Look into reputable Pre-Need Plan providers, considering factors like their reputation, customer reviews, and how long they’ve been in the business.

REVIEW PLAN

Review plan details to ensure it covers the funeral services and arrangements you desire, including specific inclusions and any limitations.

UNDERSTAND
PAYMENT
STRUCTURE

Understand the payment structure, whether it’s a lump sum or installment payments, and confirm if there are any hidden fees or charges.

LOOK FOR
FLEXIBILITY

Look for plans that offer flexibility, allowing you to make adjustments to services or beneficiaries as needed over time.

PREPARE FOR
MEDICAL EXAM

Confirm if the plan is transferable to another funeral home or location, especially if you might relocate in the future.

UNDERSTAND
TERMS &
CONDITIONS

Read and understand the terms and conditions of the Pre-Need Plan, paying attention to cancellation policies and any penalties.

LICENSED
INSURANCE
BROKER

Consult an insurance broker for professional advice.

Frequently Asked Questions

Pre-need plans may cover a range of services, including funeral ceremony details, casket or urn selection, transportation, and other related arrangements. The specifics can vary by provider and plan.

If you move to a different location, check whether the pre-need plan is transferable. Some plans can be transferred to a different funeral home, while others may have restrictions.

Pre-need plan expenses are generally not tax-deductible. Consulting with a tax professional for personalized advice based on individual circumstances.