Life is a temporary abode and we all have to eventually pass on from this world. It is a reality we all have to abide by, and its preparation is something that needs to be accounted for. You need to ensure that your funeral arrangements are handled with dignity.
Pre planning funerals
Most communities have very little idea about how to manage a funeral program. For this reason, you may pre plan your funeral. You will have to get the assistance of a funeral director who can help you. A funeral can then be planned, just as you want it. You may also employ the services of funeral service providers to assist you. You can perform a prepaid funeral where payments are made as a provision for a future date. Services you want in your funeral may include poetry, readings, and music and the type of funeral specified – whether it will be a burial or cremation. You will have to look into it yourself, or hire a funeral director to do the job.
Information that needs to be provided for a pre-arrangement includes details of contact person upon death, details of spouse, children, and parental details. These details are needed for the death certificate. Nominated clergy or otherwise a celebrant needs to be hired, in order to conduct the final services.
Funeral insurance is a policy that covers the costs that are to be incurred in a funeral arrangement. It is a lump sum benefit that assists with expenses and even outstanding debts. Funerals and cremation services can cost up to an upper limit of $15,000. However, this is dependent on your personal preferences as well as cultural and religious norms. Generally, these expenses are to be paid immediately. This can be quite daunting for family members and relations to handle. Companies like freedominsurance.com.au offer insurance policies to assist with covering the costs of a funeral and allows planning to occur in advance.
Funerals may be funded from personal savings. However, the only disadvantage in this case is that they are taxable. You will need to reserve a sufficient portion of your savings, since funeral planning is expensive depending on your income class.
A popular, low cost, and flexible means of funding funerals and related expenses are life insurances. Do come up with an understanding of the cost range your desired funeral is expected to fall into, and make sure to account for inflation. Purchase life insurance that covers loans and other obligations.
Once arrangements are made, funding can be made accessible to funeral planners. There are dedicated insurance plans made specifically for funerals and are available all over Australia.
Funeral insurance will help out those who feel they are unable to meet these costs. However, there are still other options available such as funeral bonds.
Before making the final decision, you have to extend your knowledge base and gain as much information as possible regarding funeral services. Make sure that you know everything involved in planning for a funeral, in order to ease the moment of passing and to have some solitude in mourning.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.