Benefits of Preplanning

14 Reasons Why Preplanning and Pre-funding Benefits You and Your Loved Ones

t allows you to spare your family the burden of making complicated and difficult decisions while trying to cope with their grief and loss.
The cost of a funeral or a cremation can vary significantly depending upon the personal choices selected; prearranging relieves loved ones of the financial burdens associated with funeral expenses during this highly emotional time in their lives.
Prearranging provides an opportunity to discuss a difficult subject openly with your loved ones in a non-stressful environment, and ensures that your final wishes will be carried out just as you would have them – down to the last detail.
Allows your loved ones to take comfort in knowing that your funeral reflects your wishes.
It allows you the opportunity to become informed of the many personal decisions that must be made in the event of your death, and the many choices available in making those decisions.
Pre-funding with insurance lets you take care of future funeral expenses at today’s cost, protecting you from inflation and unexpected expenses while ensuring that your family doesn’t inherit the bill for your funeral.
For a person who has limited assets and who qualifies for Medicaid, a pre-funded funeral or cremation is one of the few assets that he/she is allowed to own.
Unlike other investments (including cash value of traditional life insurance), a properly constructed and funded preneed plan will not count as an asset if you enter a nursing home.
A pre-funded funeral or cremation eliminates the risk of having to sell other assets upon your death when their value may be depressed.
The death benefit of a preneed life insurance policy grows over time to help offset inflation and that growth is not taxable to you.
With a preneed insurance policy, funds are immediately available to pay funeral costs, with no waiting period due to probate or other delays.
A preneed insurance policy is totally portable; therefore, if you move to another area, the insurance can be used to fund a new preneed contract with the funeral firm of your choice.
Your funding is 100% secure – backed by Fortis Family, an industry leader for more than 60 years, with assets totaling more than $ 2.4 billion and over 1.5 million policies in force.
It is not only a wise financial decision; it is also one of the most selfless things you can do for the loved ones you leave behind.

According to the American Association of Retired Persons (AARP), funerals and burials are among the most expensive purchases older Americans make. The average cost for an adult funeral ranges from $5,500 to $6,500 and is expected to increase steadily over the next decade. Rising costs include caskets, burial plots, burial vaults and markers, funeral vehicles, flowers, legal paperwork and other necessary details. One of the biggest advantages of prearranging is the ability to lock-in many of these expenditures at today’s prices, regardless of what they may cost in the future.

The number of people choosing to pre-fund their funerals has dramatically increased over the last decade. Most do so after witnessing or personally experiencing the complicated and expensive process of planning and paying for a funeral. The fact that more and more people are prearranging indicates that most people recognize it as a valuable investment, as well as a loving and thoughtful gesture.

Funeral planning involves the relatively easy process of making plans for your own funeral – or that of a loved one – well in advance of need. It is no less practical, no less important, and no more complicated than planning for college tuition, a future wedding, a new home or retirement. Likewise, the advantages and benefits are no less valuable.

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