Guide to Funerals

Many funeral directors offer the option to have funeral services pre-paid for the convenience of those closest aswell as peace of mind for the care of loved ones. This is done by making payments toward the cost of a funeral based on arrangements planned by the funeral director.

Pre-paid funeral arrangements can come in five different methods, as follows;

Contributory Funds

This is where regular smaller payments are made to a chosen funeral director to assist in covering the cost of the funeral.

Pre-paid Funeral Funds

This is where larger or lump sum payments are made and forwarded to a registered funeral fund. Generally funeral arrangements, plans and services are made with the chosen funeral director and hence the funeral cost is paid for in todays funeral value.

Funeral Insurance

Like a traditional insurance policy, small payments are made to the chosen insurer based on the funeral insurance policy taken out. There are many funeral insurance policies available - so prepare to shop around.

Funeral Bonds

This is where money is set aside to cover the cost of the funeral arrangements and funeral services in the form of an investment. The bond is usually capital guaranteed with some form of return. Funeral bonds are held in individual names, joint names or assigned to a funeral director. There are some financial incentives offered for this sort of option so research is advised.

Pre-paid Products & Funeral Services

This is the pre-payment of funeral specific products such as caskets, coffins, burial plots, wall niche or place in a memorial garden. These pre-payments are often made direct to the supplier or service provider.