‘Prepaying’ and ‘preplanning’ are terms commonly used in relation to cemetery and funeral plans. Prepaying a funeral or cemetery arrangement forms part of an agreement with a funeral home or cemetery that guarantees some or all of the costs of the goods and services in the plan will not increase. Only a funeral professional or qualified cemetery representative can enter someone into such an agreement.  

Preplanning is a very important step in relieving the stress placed on family left to make difficult, unfamiliar decisions the day their loved one dies. Paying for these expenses can often be just as stressful because there can also be a significant cost involved with final expenses. Funeral homes will prefer to be paid in full before the service takes place and the cemetery will require full payment of such items such as the burial space or cremation structure as well as the opening and closing fees. 

 

Final Expense Solutions can help you preplan but not prepay for your arrangements. Our plans do not form an agreement or contract with any funeral home or cemetery and therefore the costs in our plans will rise with inflation. We anticipate this cost increase and offset it by using insurance policies that contain inflation riders or an amount for the expected rate of inflation is added to the policy.