The benefits of funeral insurance far outweigh any possible disadvantages of planning for your funeral in advance. Although planning your own cremation or burial may seem to be very morbid, it is a job that needs to be done. When planning your funeral, you need to think in a positive way. Plan the way you want people to celebrate your life and the sendoff you have always dreamed of. Below are five reasons why you should pre-plan your funeral and why it’s never too early to start paying into a funeral insurance fund.
Probably most important reasons why you should take out funeral insurance are to ease the burden on your family. This applies not just to the financial burden but also the emotional one. If you have not expressed your wishes for your funeral and burial or cremation, your family have a horrible job on their hands.
Not only would your family be forced to foot the bill for your funeral. They would also be forced to make decisions for you. This situation often ends in argument. Family members are fragile at the time of a death, and not being able to agree on funeral arrangements often ends in arguments and family rifts. If you take out a funeral insurance and leave a plan then all this can be avoided.
As well as differences arising when family members are trying to work out what type of funeral you would have liked, problems will arise when there is not enough money to pay for your cremation or burial. One of the most important benefits of funeral insurance is that it allows you to assume full financial responsibility for your funeral.
Many people make the mistake of leaving money in a will to cover funeral costs. This type of money is not exempt from inheritance tax in the way a funeral plan is. Also, funds are not always released straight after the death. A funeral plan is sound financial planning. Your relatives will be able to access the money on your passing and it will already be destined to pay for your funeral, meaning no family squabbles can arise.
If you pre-plan your funeral, your grieving family will benefit psychologically. One of the benefits of funeral insurance is that your family will get the closure they need and that they will be able to begin the grieving process straight away. Rushed plans will not provide a satisfactory funeral, and your family will not be able to grieve if they have to worry about making the funeral arrangements themselves.
When you choose a funeral plan, your wishes will be carried out. On your passing, you are no longer there to control what goes on. So, for peace of mind, write everything down in your funeral plan from the venue to the dress code to the florist you want to use and the hymns you want your family to sing.
Lastly, you will want to have your affairs in order when you die. There is nothing worse than leaving your family to pick up everything when you pass. Being self-reliant is more important than you may realise. If you are under the assumption that it does not matter what happens after your death as you will not be there to worry about it, then you are being selfish.
Do not leave your family to sort out your funeral arrangements, and do not expect them to pay for your funeral. Funeral costs are rising every year in the UK. What is the best way to combat this? To ensure you are already paying into a funeral plan and that the cost of your own funeral has already been worked out.
The benefits of funeral insurance really go without saying. There are many, and in contrast there really are no disadvantages to taking out a funeral plan. In contrast however, there are disadvantages to taking out a life insurance policy instead of a funeral plan. If you take out a policy when you are young, you may end up paying in more than you will get out in the end. If you choose an insurance policy that requires no medical, be prepared for the worst. This type of insurance should only be taken out if you have severe medical issues. Otherwise it is the most expensive option open to you and one that you should avoid at all costs.