For those that are unsure of what Pre Planning a funeral means, here is a little overview. And remember, there is much more information on our website about each service, and what it entails.
What Pre Planning Options are there?
There are 4 main options of Pre planning. Pre Arranged, Pre Paid, Funeral Bonds and Funeral Insurance.
Of the 4, H. Parsons will directly help you in creating the first 3 options. We don’t generally recommend funeral insurance for a number of reasons, and that is covered a bit more in a different blog.
What are Pre Arranged and Pre Paid Plans?
These are generally your most common plans. It gives you the option to go through and select the services you would like. Select a location, coffin, special services, special hearses, etc. Another useful aspect is that you can provide details, such as family members, place of birth, previous marriage information. For family members, this can be a challenging task when they are grieving and many appreciate this already being filled out. You can see the information we need on via the form on our website.
The difference between a Pre Arranged and Pre Paid funeral plan is that you can pre-arrange at no cost. Essentially, you tell us what you would want and we will prepare a file which we provide to you, and that we keep as well.
A Pre Paid Plan does come at a cost though, as you are paying for the services you have requested. The major advantage of this is that you lock in the services at today’s prices. Seeing as prices generally go up over time, it can be useful to save future money this way (This is not certain however). Because the services are locked in as well, you can be sure that you will get what you want. If something changes, maybe the type of wood for you chosen coffin isn’t around anymore, we will work with your family to provide you with something as similar to the original.
What is a Funeral Bond?
Essentially, this is a way of financially preparing for a funeral. The bond is given to a financial institution, and that bond is invested in order to gain value. The bond can only be released once the holder is deceased. This is most similar to funeral insurance, but as it gains value over time, it is much more recommended.
A Funeral Bond can also be used to offset the Department of Human Services Pension Assessment. Essentially, this is an encouragement for people on a pension to prepare their funeral costs. This can differ person from person so it is always recommended to either speak to our team first, or to speak to a financial professional.
Funeral pre planning certainly has some benefits to it for many people. As with most things though, it is always best to talk to a professional about what is best in your situation. You can always talk to one of our Pre Planning experts at H.Parsons Funeral Directors.
