Most funerals will cost between $5000-$10000 depending on the details. It is difficult to purchase any type of “Funeral Insurance” that will cover all of the possible expenses.

There are three common funeral pre-payment options.

1. Funeral Trust Account – A Funeral Trust Account can be purchased either through your bank or through a funeral home.
2. Life Insurance – A life insurance policy should be purchased by a licensed insurance provider with the funeral service provider named as the beneficiary.
3. Funds Set Aside – A simple solution is to set aside money that is accessible to trusted friends or family.

You do not have to pre-pay for a funeral but you should pre-plan. Pre-Planning, also commonly referred to as Preneed, is beneficial to both the dying and their friends and family. A preneed funeral plan ensures the wishes of the deceased are followed. A preneed funeral plan also alleviates the burden on loved ones in their time of grief.

The most important aspect of a preneed funeral plan is to make sure a trusted friend or family member knows of the plan. There is no guarantee the funeral home will know when you have passed on.