Whether we anticipate them or not, planning a funeral for a loved one can be especially stressful, not only because of the emotional aspect but also due to the fact that you need to have your finances in place so as to give a befitting farewell to your loved one. While some people have put in place plans for the final send-off like taking of life covers, not everyone has the foresight or the ability to do this. The result is that the family members are left with the process of arranging for finances to cover the funeral expenses. This can be a daunting task because there are so many things that you need to factor even without finances.
This is why it is important to have a funeral payment plan so that your family members can grieve in peace. Different insurance companies and funeral homes offer these packages and the prices vary according to the provider.
What are some of the costs you will have to deal with?
Until you have to deal with one, you never quite realize how involving planning a funeral can be. There are so many factors to take care of including the actual ceremony, transportation of the body, the cost of the casket, preparing the body for burial amongst other factors.
Funeral homes have made a killing because they offer all the above as a package deal. Just like you would plan a holiday, and have your tour agency give you everything in one neat package including transport, accommodation, tour amongst others, funeral homes are now packaging everything from when they pick the body up to the burial day. You need to part with approximately $10000 for the package. Many people opt to pay because it frees them from having to deal with the nitty gritty of planning for the funeral. Yet, the truth is, not many people can afford the fee, and so people up with different ways of handling the situation. Some of the methods used include body donations to institutions of learning, cremation, home funerals, amongst others.
Methods of paying for the funeral.
Whichever method you use for the final send-off of your loved one, there are costs associated with it. If you are lucky, you will be able to pay for the services in cash giving you a chance to negotiate the costs. You need to do a cost comparison of the funeral homes around the area and find one which offers the most value for the amount of money they’re asking for.
In other cases, you may need to take an emergency loan to help you through the funeral. There are a number of emergency loans available and you need to be very careful about the terms and conditions so that you do not find yourself in a bind when the funeral is over.
You may also look for help from the community, crowdfunding, use your employer’s benefits, or if you are lucky, you have a life cover in place that will help you with the funeral costs.
Planning a funeral is a horrible, taxing experience that can play havoc with your emotions and finances. It pays to have a plan in place and if not, you may need to get some financial help either through a loan or the community.