Funeral Plans: To Buy or Not To Buy

Funeral Pre planning is often the subject of concern of the elderly who would not wish to impose on their family the burden of arranging and paying for their funeral. If they have some savings tucked away, for instance, they often wonder if that amount would serve them better if invested into a funeral plan or be allowed to grow in a savings account. One advantage of purchasing and paying off a funeral plan in advance is being able to lock in on the costs and be assured of the same services in the future which, by then, have a higher price tag due to inflation. In this particular point, you will just have to compare the rate of inflation versus the interest rate that the same amount of money would earn in a savings account. More often than not, the inflation would come out higher.

Starting your funeral planning earlier will also ease your family from the burdens of arranging the details for you. Often, their decisions are dictated by their wanting to show their respect, love and honor for you, but this may translate to higher costs and the possibility of conflict among them. Putting your wishes on paper will resolve all that.