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Questions to Consider Before You Prepay

Questions to Consider Before You Prepay

You may have considered preplanning, or even prepaying, for your funeral arrangements. Planning for your funeral, or the funeral of a loved one, in advance can help you make informed decisions.

If you plan to prepay for your funeral expenses, the Federal Trade Commission suggests considering these issues before putting any money down:

• What are you paying for? Are you buying only merchandise, like a casket and vault, or are you purchasing funeral services as well?

• What happens to the money you’ve prepaid? States have different requirements for handling funds paid for prearranged funeral services.

• What happens to the interest income on money that is prepaid and put into a trust account?

• Are you protected if the firm you dealt with goes out of business?

• Can you cancel the contract and get a full refund if you change your mind?

• What happens if you move to a different area or die while away from home? Some prepaid funeral plans can be transferred, but often at an added cost.

Although it is good to be prepared, you should also be informed about what you are purchasing. It is OK to request information and pricing on funeral arrangements and discuss these decisions with family members. Remember, you don’t have to plan it all in one day.

Be sure to let your family members know of the arrangements that you make and if they are paid for. Show them where you keep your paperwork, or give them copies of your paperwork to keep on file.

Abbey Caskets offers the option to prepay for your casket. If you’d like information about this, please contact us at 800-987-7380.

 

2 Comments

  1. I would love to purchase caskets for my wife and I. Your program makes it difficult since there are no installment plans available. Perhaps you should consider such a program, whether it be from within or from without via a third party organization.

    I really do love your caskets. May God bless you.

    • Abbey Caskets now offers the option to make payments when prepaying for your casket. Contact us today for more details. Thank you!

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