March 2023

Artificial Intelligence and the Funeral Industry

If you follow the news, then you’ve likely seen lots of stories lately about artificial intelligence. From bots that write essays and create images to videos where you can’t tell real from imagined, AI is everywhere these days. AI has the potential to transform many industries, including the funeral industry.

This month’s newsletter highlights the questions we are asking about the potential impact of AI on how we plan for funerals, how we memorialize our loved ones, and how some funeral homes are incorporating AI into their day-to-day operations. While it’s too early to say whether artificial intelligence will impact the funeral business for the good or the bad, it’s safe to say it will most certainly change it. We’ll keep watching as AI matures and keep you posted on how it shapes the industry.

An AI Chatbot Thinks We Should Plan Our Funeral In Advance
At Funeralwise, we often think about what the future of funerals will look like. So it’s not surprising that lately, we’ve been pondering how artificial intelligence will impact the way we plan for our own passing and honor those who go before we do.

How will the current popularity of chatbots impact the way we buy funeral services? How will they be used to tell the stories of our loved ones? Will AI help us plan our own funerals?
We recently posed a funeral-related question to ChatGPT-4, one of the most advanced chatbots available to the public. We asked, “What are the reasons I should create a funeral plan before I die?” and it gave us ten reasons to plan ahead. We encourage you to take a look. If you have thoughts on the subject, please tell us what you think in the comments area for the article.

>>Read Artificially Intelligent Funeral Planning in our Forums

Do Robots Deserve Funerals?
Giving a robot a funeral seems like a ridiculous proposition, but have you ever seen those famous Boston Dynamic Robots dance? As robots become more sophisticated and lifelike, interesting questions about what to do when they reach the end of their lifespan arise.

In our Digital Dying blog, Justin Noble recently examined the issue of giving hardworking robots a funeral. For his take on the topic, click on the link below.

>>Read “Do Robots Deserve Funerals” in our Digital Dying Blog

Are Robot Morticians Just Around the Corner?
As far as we know, there is no such thing as a robot mortician. In fact, the concept raises all sorts of concerns.

But is the idea really all that far-fetched? Our blog, Digital Dying, explored the question all the way back in 2018.

We don’t think the industry is ready for such a leap quite yet, but we suggest you read the article and see what you think.

>>Read More About Robot Morticians

Our website is chock full of resources to help make planning a funeral or memorializing a loved one easier. Below is a short list of some of the most popular. You may not need them now, but bookmarking them will ensure you have them when needed.

• How to Plan a Funeral
• Find Out How Much a Funeral Costs
• Wise Solutions for Planning Ahead
• Learning About Cremation
• Creating a Celebration of Life
• How to Shop for Funeral Insurance

DON’T HAVE A FUNERAL PLAN YET?
Why not take a few minutes to get started today? TRY THE PLANNER

ALREADY HAVE A FUNERAL PLAN?
Take a few minutes to make sure it’s up-to-date. GO TO YOUR PLAN

Funeralwise.com is the place to go on the web for everything you need to know about funerals. Whether you are planning a funeral or attending one, we will provide you with straightforward answers to your questions and step-by-step instructions to guide you on your way.

The post Funeral Planning Advice from a Chatbot appeared first on Funeralwise.

September 2022

PREPAID CREMATION PLANS
Prepaid cremation plans allow you to pay for cremation before you need it. In addition to the actual cremation, you can pay in advance for other elements, such as a memorial service or celebration of life. Prepaid plans are available for the full range of cremation services–from simple direct cremation (no service, remains returned to family) to a full traditional funeral with visitation before cremation.
In most cases, you will contract directly with a funeral home or cremation provider for the services you want. Depending on your chosen service provider, you can arrange to pay for services in one lump sum or a series of installments. One of the most popular methods for paying for a cremation in advance is to take out an insurance policy that will be used at your death to cover the costs of the services you purchase.

More about Prepaid Cremation Plans

If you think a prepaid cremation plan might be right for you, our Preplanning Specialists can help you decide. They can also help you find the right financial tool to fund your plan. To start, click the button below and complete the brief information request. A Specialist will get back to you with more info. Email us at support@funeralwise.com if you already have a plan with us and would like to learn more.

LET’S GET STARTED

FROM OUR MAILBAG: SECOND RITE OF INTERMENT
We get a wide variety of questions in the Forums section of our website. One question we’ve been getting a lot recently is, “Why does the cemetery want to charge me for burying two urns in the same space?”
The fact is, when you buy a burial space, you don’t purchase the land. What you buy is the right to bury the remains of one body in the space. That is called a “Right of Interment.” So when you want to bury two sets of remains, whether two urns or an urn and a casket, you must pay for the Second Right of Interment to cover the additional remains.

>>Read What is the Second Right of Interment in our Forums.

TALKING ABOUT YOUR FUNERAL
Our last issue highlighted the importance of discussing your funeral plans with your loved ones. It’s an important issue, so we want to ensure you didn’t miss our article. After all, your plan doesn’t do much good if no one knows about it.
Having the talk is not always easy, though. Our article features helpful tips on how to get started and things to consider.

>>Learn More About Having the Talk

SCATTERING ASHES
People are often surprised to hear that there’s more to scattering ashes than just tossing them to the wind.

Once you decide where to scatter, you should ensure it’s legal to scatter in your chosen spot. Choose an appropriate container. Consider wind conditions–everyone stand upwind!

>>More About Scattering

INSURANCE RESOURCES
While many people know us for our planning expertise, Funeralwise also specializes in funeral, burial, and cremation insurance.

Whether you are looking for basic information or are ready to buy, we can help you make the right decision for you and your family.

Our insurance pages are rich with information to help answer your questions and sort through your choices.

>>Learn More About Funeral Insurance

GIVING GIFT BASKETS
Sending a gift basket to express your sympathy is a thoughtful and practical way to let someone who is grieving know you are thinking about them. In some cultures, giving food items is preferred over flowers and other gifts.
You can purchase a gift basket directly through our store by clicking on the link at the bottom of the page. The link takes you to Design It Yourself Gift Baskets, for which we are an affiliate.

>>VISIT DIY Gift Baskets

DON’T HAVE A FUNERAL PLAN YET?
Why not take a few minutes to get started today? TRY THE PLANNER

ALREADY HAVE A FUNERAL PLAN?
Take a few minutes to make sure it’s up-to-date. GO TO YOUR PLAN

Funeralwise.com is the place to go on the web for everything you need to know about funerals. Whether you are planning a funeral or attending one, we will provide you with straightforward answers to your questions and step-by-step instructions to guide you on your way.

The post Prepaid Cremation Plans appeared first on Funeralwise.

The following Frequently Asked Questions were designed to reply to the funeral insurance questions we get from consumers most often.

We’re sure you also hear similar questions when you are working with clients. In fact, you may even be wondering what the answers are to some of these.

If you’d like more information on the funeral insurance we offer the general public, we encourage you to visit our Funeral Insurance page.

What is funeral insurance?

Funeral, burial, and final expense insurance are all names for small life insurance policies ($3,000-$40,000). These policies cover the cost of final expenses, such as funeral products and services. For more details on these specialized policies, check out our Guide to Buying Funeral Insurance.

How is preneed insurance different from funeral insurance?

PreNeed insurance is similar to funeral insurance but is tied to a preneed contract with a funeral service provider. A preneed contract is a statement of goods and services contract you sign with a funeral service provider when purchasing preneed funeral insurance. It itemizes the specific funeral services and products you selected for your funeral. For more information, visit our page on preneed contracts.

Do I need funeral insurance?

The most crucial benefit of funeral insurance is financial security for your family. According to the 2021 General Price List Survey by the National Funeral Directors Association, the median cost of a traditional funeral was $9,420. This number doesn’t even include cemetery costs. A traditional funeral can easily cost $10,000 or more. Covering funeral costs is a heavy financial burden for most people, especially if it comes unexpectedly and at a stressful time. Having a funeral insurance policy protects your family against this financial hardship. It also avoids the added stress of paying for final expenses while dealing with their grief. To learn more, visit our How to Shop for Funeral Insurance page.

How much funeral insurance do I need?

The value of your policy will depend on the type of funeral service and burial you anticipate having. Most funeral insurance policies range from $3,000-$40,000. A small, simple service or cremation will cost less than a more elaborate service so you won’t need as large a policy. Preplanning is the best way to estimate how much money you need to have available for funeral costs. Our Wise Planning System can help you determine the cost of the type of funeral service you have in mind.

How much does funeral insurance cost?

The cost of funeral insurance depends on factors such as age, health, how much coverage you request, and the type of policy you choose. A guaranteed issue policy will not take health into consideration so the cost may be somewhat higher than for a medically underwritten policy. If you select an underwritten policy, the price depends on your unique situation. For example, the premiums for someone who is age 55 and does not smoke will likely be lower than for a 70-year-old smoker. Requesting a quote is the best way to determine precisely how much your premiums will be.

Do the proceeds from my funeral insurance have to be used for funeral expenses?

It depends on the type of policy you have. Once the holder of a final expense insurance policy dies, the beneficiaries can use the funds however they desire. The funds are usually used as intended, but you should choose your beneficiary carefully. Ensure that the people you want to care for your final farewell know what you want. If you have a preneed insurance contract, the proceeds will go directly to the funeral home where you have made your arrangements.

How can I save money on funeral insurance?

It’s important to remember that funeral insurance is highly regulated, and discounts are not offered on policy rates. If you find something that looks too good to be true, you probably need to look at it more closely. It probably isn’t what you want or need. You can use strategies to lower your premiums, such as scaling back your service or locking in today’s prices through a preneed contract. We highly recommend creating a funeral plan to help you consider what products and services you need. Visit our page on funeral costs to learn more about how much money you need to set aside.

Where can I buy funeral insurance?

You can purchase a funeral insurance policy through an insurance agent or a funeral service provider such as a funeral home. Some insurance companies sell the policies directly as well. Many people prefer to use an agent since it gives them a more personalized way to get customer service. There are many online sources for funeral insurance. We have a network of licensed Preplanning Specialists who would be happy to help you with your funeral planning and provide a free, no-obligation quote.

Do I need to talk to an insurance agent?

You can get a quote online, but it is always best to talk with an agent to ask questions, get clarifications, and ensure you understand precisely what you are buying. One good strategy is to request a quote online and then talk with an agent. This way, you can be confident you are getting the best policy at the best price. An independent agent (also called a broker) is typically self-employed and represents a variety of companies. An exclusive agent represents only one company and may be an employee of the company they represent. Our network of Preplanning Specialists are licensed insurance agents who can help you with your funeral planning and provide a free, no-obligation quote.

What kind of funeral insurance do I need?

The type of insurance that is right for you will depend on your circumstances. The goal is to have a policy that will provide enough money to fund your funeral and burial. Most people find that a relatively small whole-life policy will suit their needs. It is always a good idea to consult your financial advisor to get a definitive answer on what the outlook for your end-of-life situation will be. To learn more about the types of funeral insurance available, check out our Guide to Buying Funeral Insurance.

What is the difference between “Whole Life” and “Term” insurance?

“Whole Life” generally refers to “Ordinary Whole Life,” an insurance policy that will stay in force for the length of your life as long as you pay the premiums. Most whole-life funeral insurance policies are “ordinary” whole life. A “Term” life insurance policy runs for a selected time period, typically 1, 5, 10, 15, 20, or 30 years. Being aware of your policy type is essential since the beneficiary payment will only occur if the insured dies within the specified period. Be sure to read the fine print if you are considering a final expense or burial insurance policy to ensure it is a whole-life policy. Because if it is a term policy and you die after the expiration period, there will be no funds to cover funeral expenses.

Do I need funeral insurance if I have life insurance?

Many people choose to purchase funeral insurance as a supplement to life insurance. Funeral insurance will protect your estate from being depleted by your final expenses. One key advantage of funeral insurance is that it pays out more quickly than regular life insurance. Even if you have a sizable estate or significant life insurance, your loved ones may not have the cash to cover your funeral expenses. Remember, most funeral service companies require that you pay at the time of service.

Does health insurance or Medicare cover funeral costs?

No. Health insurance and Medicare are specifically for health coverage; they do not pay for funeral expenses. If you are looking for insurance coverage, you need some type of life insurance policy, such as funeral insurance, that pays out upon your death.

How do I choose a funeral insurance company?

What insurance company to buy from is essential since the wrong choice can leave you empty-handed. The short answer is that you should only buy from a top-rated company. One good source for insurance company ratings is A.M. Best. This highly regarded company offers independent analysis regarding company stability and the ability to meet financial obligations. If you choose an insurance company with an A.M. Best top rating (AA through A), you can feel reasonably confident that you are making a good choice.

How do I apply for funeral insurance?

How you apply depends on the company from which you are buying. For some, you can apply by phone or fill out a form. For others, you can apply online. Generally, you will request a no-obligation quote and wait for a reply. A good approach is to request a quote online and then talk with an agent. This way, you can be confident you are getting the best policy at the best price. Our network of Preplanning Specialists are licensed insurance agents who can help you with your funeral planning and provide a free, no-obligation quote.

Will my premium change?

If you purchase a policy with “level premiums,” your premiums will not change over the policy’s life. Price is based on the policy value, your age, and health at the time of purchase. The “premium” is the price you pay for your life insurance policy. You make the payments monthly, quarterly, or annually. Prices vary between insurers and types of policies, so be sure to shop around or speak with a licensed agent.

Can my funeral insurance be canceled?

Usually, your policy cannot be canceled unless you stop paying your premiums. The policy will automatically terminate if you don’t pay for any reason. If you choose to cancel, certain whole-life policies have a cash value. Be sure to know what you are buying.

How long do funeral insurance policies last?

If you have a whole-life funeral insurance policy and pay your premiums on time, your policy will last until you pass away. The beneficiary will receive a cash payout of the policy’s value at your death. If you have a term funeral insurance policy and pass away before the term’s expiration, your beneficiary will receive a cash payout upon your death. If the term passes before your death, then, unfortunately, there will be no payout. In most cases, the insurance company can only cancel your policy if you stop paying your premiums.

Who should I choose as my beneficiary?

Your beneficiary is the person or persons you designate as the recipient of a life insurance claim proceeds. In the case of final expense insurance, the person you designate as the beneficiary can decide not to use the funds to pay for the funeral, so be sure to select a person you trust to carry out your wishes. You should also ensure that whoever you choose is fully aware of your wishes. Our Wise Planning System is an excellent way to share your wishes with your beneficiaries and family members.

What is a Graded Death Benefit?

“Graded” refers to the reduced death benefit payable if the policyholder’s death occurs within the policy’s early years. Graded Death Benefit provisions are typically found in guaranteed issue policies. For example, a policy may only pay out the premiums paid to date if death occurs within the first year or two. The death benefit will be an increasing percentage of the face amount until the policy matures to usually the third year.

What are “Stepped Premiums?”

Stepped premiums are insurance premiums that are recalculated (generally once a year) to determine if the level of risk warrants a higher (or lower) premium. Age is generally the determining factor. On the other hand, level premiums are insurance premiums that do not change from month to month as you get older but are locked in at a specific rate. We recommend purchasing a level premium policy to cover your funeral and final expenses.

What is a “Funeral Service Provider?”

The term “Funeral Service Provider” generally refers to a funeral home. It may also refer to a funeral director, a cremation service, or other professionals who provide services to the funeral industry. For help selecting a funeral service provider, visit our Find Services directories.

What is the difference between a guaranteed issue policy and an underwritten policy?

With guaranteed issue policies, almost everyone is accepted regardless of age or medical history. You sometimes hear these policies called “Guaranteed Acceptance Life Insurance.” These policies are generally more expensive than underwritten policies because there are no health questions. Guaranteed-issue policies typically have graded death benefit provisions that reduce the death benefit within the first few years of the policy. With an underwritten policy, the insurance company evaluates your medical history to determine if it will accept the policy. Medical underwriting may also be used to determine the price of the policy.

How do I find the best funeral insurance policy for me?

We think a step-by-step approach is the best way to find a funeral insurance policy to meet your needs. To learn more about the types of funeral insurance available, check out our Guide to Buying Funeral Insurance.

The post FAQ: About Funeral Insurance appeared first on Funeralwise.

The post Funeral Insurance Frequently Asked Questions appeared first on Funeralwise.

Finding a policy to cover the costs of your funeral is not easy. Even the terminology can be confusing. The policies are referred to as burial insurance, funeral insurance, and final expense insurance. How do you make sense of this and find the best policy? We can help! We can give you what every smart shopper wants – good information, honest answers, and options to consider.

Our agents can offer any of the numerous policies on the market today. One, in particular, stands out. It’s a one-of-a-kind policy that you can completely pay off over 1, 3, 5, or 10 years. It is guaranteed to issue, and the amount of the benefit (the payout) grows over time. For example, a $2,500 policy for a 65-year-old female would grow to a $5,280 benefit on a 10-year payment plan.

Our agents are available to explain this extraordinary policy to you. They can also provide you with essential legal documents (such as a Last Will and Testament) and a best-in-class funeral planner… AT NO COST!

Complete the form below and schedule a Free Consultation now!

Why Work With A Funeralwise Advisor

We understand why many people are hesitant about speaking with an Advisor. But we’re different. We take a unique approach to funeral insurance that is planning based. That means we look at what your costs might be and base our recommendations on a realistic assessment of how much you’ll need to cover your final expenses–nothing more, nothing less.

When you work with an advisor we’ll not just talk to you about finances, we’ll help you get the legal forms you need to make sure that your assets are protected and your needs are handled in the way you want them to be handled. All at NO COST to you.

Best of all, having a conversation doesn’t commit you to anything. There is absolutely no obligation. So if you haven’t completed the form that is included above, we recommend that you take a minute to do so now. You won’t regret it.

ABOUT FUNERAL INSURANCE

Simply stated, funeral insurance is a specialized life insurance policy designed to pay for your funeral, burial, and other “final expenses.” Funeral insurance is also called burial insurance, and final expense insurance.

>>Visit Our Insurance Pages for More Information

While these policies are referred to by different names, there are actually 2 different types of policies for your funeral – Final Expense policies and Preneed policies. We can help you understand the difference and decide which is right for you. Whether you are interested in purchasing coverage now or are just doing some research, we are ready to help. If it’s best for you, we can also shop the market to find the best policy for your particular situation.

As you know, it’s always best to do your homework before you buy so let’s start with the basics and work our way from there by setting up and appointment with an Advisor for your FREE consultation.

The post Get the Best Policy for Your Funeral Expenses appeared first on Funeralwise.

A new generation of artificial intelligence (AI) is all the rage now. AI programs have been used for years, but the latest technological breakthrough is “generative” AI programs. These new AI programs, also known as chatbots, can respond to virtually any query. They can answer questions, hold a conversation, compose essays, and even create computer code.

Predictably, major tech companies Alphabet and Microsoft are developing ways to incorporate AI into their search engines (Google and Bing, respectively). Microsoft has invested billions in the artificial intelligence company OpenAI and has already integrated OpenAI’s ChatGPT into a new version of Bing. OpenAI has already released an even better version called GPT-4. Google, Meta (Facebook) and others are countering with their own AI-enabled search tools.

As you can imagine, the possibilities are endless, and like many new technologies, it comes with many concerns. Will AI chatbots replace human beings? Will chatbots be used to spread misinformation? AI development is still in its early stages. So, how widely it will be used and what the long-term impact will remain to be seen.

Artificial Intelligence and Funerals

Here at Funeralwise, we wonder what effect chatbots will have on funerals. Can chatbots be used to write eulogies and obituaries? How will artificial intelligence assist people with funeral planning? Will they recommend the best funeral homes or the best funeral insurance policy to buy? Will they be an alternative to the hundreds of pages of information on Funeralwise.com? What do you think? Post your thoughts on AI and funerals below.

An AI Chatbot Gives Us 10 Reasons to Plan Your Funeral

We were curious what a chatbot would have to say about funeral planning so we asked GPT-4 this question: “What are the reasons I should plan my funeral before I die?”

The exact response from GPT-4 (we added the text bolding):

“Creating a funeral plan before you die can provide several benefits for both you and your loved ones. Here are some reasons why you should consider creating a funeral plan:

1. Peace of mind: Preparing a funeral plan allows you to make your wishes known, ensuring that your funeral is conducted according to your preferences. This can give you peace of mind knowing that your final wishes will be respected and carried out.
2. Financial planning: By planning your funeral in advance, you can choose the services you want and determine the associated costs. This can help you make informed decisions and potentially save money by locking in prices or selecting more affordable options.
3. Easing the burden on loved ones: Losing a loved one is an emotionally challenging time. By having a funeral plan in place, you can relieve your family and friends of the burden of making difficult decisions and planning a funeral during their time of grief.
4. Personalizing your funeral: Creating a funeral plan allows you to personalize your funeral, reflecting your beliefs, values, and interests. This can help create a meaningful and memorable service for those in attendance.
5. Avoiding family disputes: Pre-planning your funeral can help avoid potential disagreements among family members regarding your funeral arrangements, ensuring that your wishes are respected and followed.
6. Ensuring financial support: Some funeral plans include options for payment or insurance policies, which can help ensure that your family has the financial means to cover the costs associated with your funeral.
7. Legal considerations: Preparing a funeral plan can also help you address legal matters related to your estate, such as appointing an executor, drafting a will, and organizing important documents.
8. Organ donation or body donation: If you wish to be an organ donor or donate your body to science, having a funeral plan in place can help communicate your intentions and ensure that your wishes are followed.
9. Environmentally friendly options: If you are concerned about the environmental impact of traditional funerals, pre-planning allows you to explore and choose greener alternatives, such as green burial options or eco-friendly cremation options.
10. Time for reflection: Planning your funeral in advance gives you the opportunity to reflect on your life and consider what kind of legacy you want to leave behind. This process can be an important part of accepting and coming to terms with your mortality.”

What Our Funeral Planning Robots Have To Say

That’s a pretty good response from GPT-4. We’ll be keeping our eye on the effect of AI on funerals and keep you informed. In the meantime, we have our own form of AI, our funeral planning robots, Zelmo and Gizmo, to offer advice on funeral planning. Check it out!

Funeral Planning the Funeralwise Way

No need to wait for AI; you can do your funeral planning today with our Wise Planning System. Get started with our Free Quick Plan.

>>Read our article “Do Robots Deserve Funerals.”

The post Artificially Intelligent (AI) Funeral Planning appeared first on Funeralwise.

Prepaid cremation plans allow you to pay for cremation before you need it. In addition to the actual cremation, you can pay in advance for other elements, such as a memorial service or celebration of life. Prepaid plans are available for the full range of cremation services. Plans range from simple direct cremation (no service, remains returned to family) to a full traditional funeral with visitation before cremation.

In most cases, you will contract directly with a funeral home or cremation provider for the services you want. Depending on the service provider you choose, you can arrange to pay for services in one lump sum or a series of installments. One of the most popular methods for paying for a cremation in advance is to take out an insurance policy. The policy will be used at your death to cover the costs of the services you purchase.

How Much Does a Prepaid Cremation Plan Cost?

The cost of a cremation can vary widely. A direct cremation can range from $750 to $4,400. A traditional funeral service preceding the cremation can run between $6,600 to $9,000. Regardless of the type of cremation services you choose, you can prepay for them with an insurance-based prepayment plan. For example, we can provide a 10-year payment plan that grows to a $2,000 payout benefit for only $17 per month.

Our Funeral Insurance Finder is a great way to get an estimate of cremation costs and an insurance policy to cover them. Even better, you can request a consultation with a Preplanning Specialist who can answer your questions and ensure you get a plan that meets your particular financial requirements. Just provide your contact information after you get your quote.

If you are interested in prepaying for a cremation plan that includes traditional or memorial services, our Preplanning Specialist can offer you valuable Free Benefits with our Wise Protection Plan.

Advantages of Prepaying for Cremation

A key reason that many people prepay for cremation is that it lifts the burden of making funeral or cremation arrangements for their loved ones. When the time comes, the difficult decisions have already been made. Your family can start their journey through grief without the stress of planning a funeral.

Another key benefit is that the financial obligations for making end-of-life arrangements are taken care of.  This can be a huge relief to those who are mourning you.

When you prepay for cremation, you can lock in prices to protect against inflation. If you choose to pay using an insurance policy, your money may grow, leaving a surplus for your family. To learn more about the types of policies that offer these advantages, we recommend you speak with one of our preplanning specialists.

Our Prepaid Cremation Plan quoter is an easy way to get an instant quote and arrange to speak with a specialist. Answer a few simple questions, and we’ll provide you with a no-risk quote for a preneed policy. Be sure to provide your contact details, and we’ll put you in touch with a Preplanning Specialist.

What to look out for when prepaying for cremation.

When you make any significant financial commitment, you need to make sure you do your homework before signing a contract. Most complaints involve cases where the provider is no longer in business or they do not honor the terms of the agreement. Here are some ways you can avoid difficulties down the road.

Research the Cremation Providers you are considering.

There are many ways that consumers can gather information on the companies they are considering purchasing prepaid cremation services from.

1. Check the Better Business ratings to see if the company has outstanding complaints.
2. Look for reviews online.
3. Talk with people you know who may have used the provider.
4. Check with the agency that regulates funeral services in your state.

>>Learn more about Cremation

Shop around.

Most communities have multiple funeral homes and cremation providers. Since you are preplanning, you have the luxury of having time to shop around. Checking on what is available at various locations will give you a good idea of what pricing is reasonable and how to cut costs. You’ll also have information that helps you recognize situations where the provider marks up prices as a hedge against inflation.

Many funeral homes and cremation providers post their prices online. Look for the General Price List on websites. Remember, funeral homes must provide you with pricing in writing.

Understand the terms of the Agreement.

It is always tempting to skim over contracts to get on with the process. You never want to do this. Pay particular attention to what will happen to your money if the provider goes out of business or if you relocate. Many prepaid plans do not allow you to transfer plans between funeral homes. This may work fine for you, but if there is a chance your situation may change, be sure your contract allows for that. Find out how the provider will protect your funds. Most states have strict rules regarding how the money for prepaid cremation and burial arrangements must be held to protect you.

Buying a prepaid cremation plan can be a smart financial move. You can minimize risks by doing your homework and learning as much as you can about exactly what you are buying.

One of the best things you can do is speak with a Funeralwise Preplanning Specialist. These professionals can help you choose a reliable provider and determine the best way to fund your plan. To get the process started click here to get a free quote.

The post Prepaid Cremation Cost and Payment Plans appeared first on Funeralwise.

DOES YOUR FAMILY KNOW WHAT YOU WANT?

You’ve probably heard us say that the best time to plan a funeral is before you need it. The same goes for talking about your funeral plan with your loved ones. It doesn’t do much good to have a plan in place if no one knows about it. Remember, a key reason for preplanning is to save your family from having to make difficult decisions at an emotional time. Ensuring that they know what you want is a vital part of that.

Having the Talk

The hardest part of talking about your funeral plan with your loved ones is getting started. It might be easy if there was a right or wrong way, but no luck there. The right way to start a conversation about the type of funeral you want is the one that works for your unique situation. After all, you know your loved ones best, so you are the best judge of the approach that makes both you and your family comfortable.

That said, there are things you can do to help the whole process go smoothly. In fact, you may be surprised at how receptive the people you’re talking to are. Once the awkward part is out of the way, you will probably find that they’ve wanted to have this conversation but didn’t know how to go about it.

7 Tips for Talking with Your Loved Ones About Your Funeral Plan

1. Plan in advance.
   You don’t need a script, but you should think about what you want to accomplish. Do you want to start by going through the big items like burial versus cremation, or do you want to present a detailed funeral plan? How complex you want to get impacts how much time you need and perhaps where you hold the conversation.
   
   Keep in mind that you’ve had some time to think about this conversation in advance. Your loved ones may not have, and they may be uncomfortable with the subject. Planning can help you frame the discussion to put your loved ones at ease.
   
2. Decide who to involve in the conversation.
   Deciding who you’d like to involve when talking about your funeral plan depends on your situation, family dynamics, and how much detail you plan to get into. Perhaps you only want to include the person who will be primarily responsible for taking care of your arrangements. Maybe you’d like to have your entire family involved so that everyone is on the same page.
   
3. Think about where you’d like to have the talk.
   A quiet, comfortable place works best for this kind of discussion. This can be your home, a café, a restaurant, or another spot that can accommodate the number of people you plan to have. If you think it may become emotional, your home may be best. Consider the feelings of those attending and choose a spot that will put your family at ease.
   
4. Plan how you will start the conversation.
   Think about a topic to use as a starting point. Perhaps there is a triggering event you can bring up—the funeral of someone you know, the illness of a family member, something you’ve seen in a TV show or film. This will help put your decisions in context and avoid putting your loved ones in a position where they feel blindsided.
   
   Humor and storytelling can be great ice breakers.  If those techniques work for you, take advantage of them. Your goal is to make sure that your loved ones know what you want when the time comes. The conversation shouldn’t be a comedy routine, but it also doesn’t need to be grim.
   
5. Expect questions and concerns.
   Understandably, the people who care about you may assume that something is wrong when they hear you talking about funeral arrangements. Explain what led you to think about your end-of-life arrangements, and be prepared to offer reassurances. They may also be curious about why you are making certain decisions—for example, cremation over burial. You don’t have to justify your choices, but offering a simple explanation will help to calm your family’s fears.
   
6. Anticipate emotions and pushback.
   This discussion may be easy for some and hard for others. Someone who is particularly resistant or has difficulty understanding why you want to talk about this now may appreciate being excused from the conversation. If they have significant differences with the approach you have chosen for aspects of your funeral, listen carefully to the objections and respond. If you are still in disagreement, let them know you understand their concerns but request that they honor your wishes.
   
7. Keep the Topic Open for Further Conversation
   You don’t have to cover everything in one conversation. If you or your loved ones become overwhelmed, set a day and time for a follow-up conversation. If you have one or two individuals designated to take care of the details, it may make sense to meet with them privately. For some people, working in stages is most effective. For example, the first conversation covers the big stuff, such as how you’d like your body handled (i.e., burial versus cremation). Have follow-up to cover the service you’d like and other details.

Thinking about having a conversation with your loved ones about your funeral arrangements can be daunting. Don’t worry, though; you’ve done the work of preparing a plan, so you’ve been through the most challenging part. You may be surprised at how receptive your family is. Often, those involved find the discussion rewarding. They may even share their own plans once you open the topic.

The important thing is that you get the conversation going. Don’t wait until there is a serious situation and you have to rush things. It is never too early to have the talk.

What if you haven’t started your planning or you have yet to put pen to paper?

It is essential that you get your funeral plan down on paper. Funeralwise can help. We designed our Wise Planning Solutions just for that. The Wise Planning System features a vibrant online planner. A key feature of the planner is the ability to designate a “Plan Guardian.” This is a trusted individual (or individuals) who will ensure your plan is carried out when the time comes. Our Wise Protection Plan is an all-inclusive product that helps you create a plan and fund it.

Our website is packed with resources if you would like to learn more about funeral planning and making funeral arrangements. We recommend that you take a few minutes to browse the site even if you already have a plan.

>>Plan Your Funeral BEFORE You Need It

>>Making Funeral Arrangements

>>Celebrations of Life

>>Funeral Insurance

The post Talking About Your Funeral Plan appeared first on Funeralwise.

Estimating how much a funeral will cost can be tricky. Average funeral costs continue to rise, and there are many elements to consider: services, casket, vault, embalming, gravesite, and more. To make matters worse, funeral service providers and cemeteries expect payment in full at the time of the funeral. It’s little wonder that shopping for a funeral can be overwhelming.
 

How much does a funeral cost?

Funeral costs vary widely depending on where you live and what components you want to include in the funeral ceremony.

Based on our research and industry studies, average funeral costs are:

• Cremation with a traditional funeral service (the casket is present and you have a visitation) is $7,000-$9,500.
• Cremation with a memorial service (takes place sometime after the cremation, the casket is not present, and does not include a visitation) is $4,000-$6,000.
• No funeral or memorial service (cremation) is $750-$4,500.
• Burial with a traditional funeral service (visitation and the casket is present) is $12,500-$17,500.
• Burial with a memorial service (no casket, no visitation) is $11,500-15,500.

Average Funeral Cost Breakdown

According to the latest Funeral Price Survey by the National Funeral Directors Association, the average cost of a funeral in 2019 was $9,135. But this includes only the most commonly selected items for a traditional funeral such as a casket and vault. It does not include the cost of the cemetery. When considering average funeral cost, $11,000 or more is probably closer to what a typical traditional funeral really costs since a burial plot in a private cemetery will cost at least $2,000.

>>Learn About the Cost of Cremation

Funeral Costs: The big-ticket items.

It helps to know exactly what is included in the cost of a funeral since the big-ticket items are what really drives the cost. A quality casket, for example, can be as low as $2,000 or more than $10,000. Your particular choices can cause the cost of the funeral to go way up or way down. Here are some things to keep in mind:

• Funeral costs of cremation versus burial: one of the reasons that cremation is on the rise is because it can cost significantly less than burial.
• The exact cost of a funeral will depend on the quality of the casket, burial vault, and other merchandise selected.
• A direct burial (no service) or cremation can be arranged for under $1,000 (does not include cemetery costs). We recommend that you consider holding a memorial service of some kind, even an informal one, to acknowledge the passing of your loved one.
• The best way to manage funeral costs is to preplan. We can help, see our page on How to Beat the High Cost of a Funeral.

Major Funeral Expense Elements

• Plot/Niche ($1,000-4,500): Costs vary by the cemetery and by the location of the space within a cemetery. Carefully consider your options. (More on Cemeteries.)
• Burial Vault ($500-$5,000): Vaults do not prevent decay. A grave liner or simple concrete vault may be sufficient and will certainly be less expensive. (More on Burial Vaults.)
• Grave Marker/Headstone ($1,000-$3,000 and up): A simple stone can be less than $1,000. You can buy from the cemetery or a monument dealer. (More on Grave Markers.)
• The Casket ($2,000-$10,000 and up): You can buy from your funeral home or a casket dealer in-person or online. Rent a casket for a traditional funeral that will be followed by cremation. (More on Caskets.)
• Viewings ($500-$1,000): Each viewing session you have adds to the cost. The most economical option is to have one viewing the same day as the funeral.
• The Ceremony ($1,000-$5,000): Each element of a funeral or memorial service will add to the cost. Decide what is most important to you. (More on Ceremonies.)

7 Ways to Manage the Cost of a Funeral

Paying for Funeral Costs

There are many ways to pay for a funeral with new options such as crowdfunding becoming popular. This is an especially good tool for emergency situations. But even with new tools, the best way to ensure you get the funeral you want, is to turn to traditional methods such as:

• Funeral Insurance: Buying funeral insurance to cover your funeral costs can be a smart money move. Before you buy, however, you’ll need to do some research. Luckily, we’ve done a lot of the homework for you. Visit our Funeral Insurance pages for information on what to look for in a funeral insurance policy and tips on buying the best policy for your unique situation.

• Preneed Funeral Contracts:  To arrange a preneed contract you work with a funeral service provider, a cemetery, or both. Working together, you decide what to include in the contract and the best way to pay for it. You may contract for just cemetery property and services, just funeral services, or both. The important thing to remember, however, is that when it comes to preneed contracts you should be very sure of what you are buying and the terms of the contract. For more information, check out our article on Preneed Funeral Contracts.
• Pre-Paying Funeral Costs: When you enter into a preneed contract with a funeral home or cemetery, you make specific selections. You may pay for it in advance. The key benefit to pre-payment is that you lock in today’s prices. As mentioned above, our Wise Protection Plan is a great way to create a prepaid funeral plan. Plus it comes with many extra benefits that you won’t find anywhere else.
• Direct Savings: Setting money aside in a conventional account such as a savings or money market account is a simple option for many people. The risk in this approach is that it is difficult to guarantee that the money is used for the right purpose. Your survivors will need immediate access to these funds following your death. To make sure the account is set up in a way that ensures a person you trust can withdraw the funds, talk to your bank or financial advisor.
• Funeral Trusts: A funeral trust is similar to a regular savings account, but the funds are legally designated to be used for funeral expenses. Any money that remains after the funeral can be distributed to your estate. Regulations regarding funeral trusts can vary from state-to-state so you should consult with your attorney or your banker to make sure the trust is set up properly. Many funeral providers can also help you establish a Funeral Trust. See our article on Funeral Trusts for more information.
• Public Assistance: There are federal, state, and local programs that can help defray the cost of funeral expenses. Social Security, for example, provides a one-time death benefit of $255, and the Veterans Administration also provides funeral benefits to eligible individuals. Many counties have programs to help people with limited resources cover funeral expenses. For more information on ways to claim public assistance visit our Paying for a Funeral page.

Last Updated: November 10, 2021

The post Find out How Much a Funeral Costs appeared first on Funeralwise.

There are many good reasons for planning a funeral in advance. The key advantage is that you (or the person you are helping to plan) get to decide the type of funeral rather than leaving it to someone else to make the choices.

Preplanning can help you control funeral costs by allowing you to set a budget and stick to it. You’ll have time to decide what products and services are most important to you and avoid making emotional purchases. For example, the type of casket may not be a big concern for you, so you select a basic model rather than something more ornate. 

Learn More About Funeral Costs

The Basics of Preneed Funeral Contracts

An important aspect of preplanning can be making sure there are funds set aside to cover the cost of your funeral or burial. The question is, what is the best way to do that? There are many popular methods, but one we see a lot about is preneed funeral contracts.

What’s the difference between Preneed and Preplanning?

As you explore your options for planning a funeral, you’ll find a whole new set of terms that apply to your choices. The term preneed, for example,  means a type of arrangement where you pay for funeral products and services in advance. You enter into a preneed contract with a particular funeral provider, such as a funeral home or cremation service. You may pay the provider directly in a one-time payment or under an installment payment plan. Another option is to secure the contract with a preneed insurance policy, a specific type of life insurance. 

When you preplan, you decide the type of funeral or burial you want, what kind of ceremony you prefer, and the products you would like. Your plan can be as simple or as detailed as you like. You leave the instructions with your loved ones, and they take care of the details when the time comes. There is no payment required to preplan. Of course, it is best to have funds set aside for your family to use, but you don’t have to do this through a contract with a funeral provider. You can set aside cash in a funeral trust or payable-on-death bank account. Final expense insurance is another good way to cover your expected funeral costs.

To read more about prepaying for your funeral versus preplanning, see our Preplanning Your Funeral Page.

Preneed funeral contracts appeal to some people because they lock in the price of the funeral products and services they select at current prices. To lock in the price, though, you commit to a contract and fund the contract.

Many people choose to pre-purchase only their cemetery property—a plot or crypt (a preneed burial plan). Others contract in advance for full funeral and burial services along with merchandise. Even though one of the main goals is to control the price of these items, not all contracts provide a price guarantee. You should read the fine print carefully.

Two popular methods of funding preneed funeral contracts are funeral trusts and funeral insurance. By establishing a funeral trust or purchasing funeral insurance, you are placing the funds with a third-party (i.e., a trustee or an insurance company) who will manage the money and use it to pay the designated providers at the time of your funeral.

Preneed funeral contracts can work well for many people.  As with any long-term financial commitment, you should weigh the contract carefully before you sign and do your homework to make sure this tool is right for you.

The Wise Way to Purchase a Preneed Funeral Contract

Before you commit to a preneed contract, you should research the providers that are specified in the arrangement. Among the questions you should ask are:

• How long have they been in business?
• Do they have a sound financial outlook?
• How likely is it that they will still be in business when you need them?
• Do they have a good reputation?
• Is the prepayment refundable if you ultimately decide not to use them?
• How is their Better Business Bureau rating?
• Are there complaints on review sites?

Keep in mind that regulations governing the sale of preneed funeral and burial agreements vary by state, and there can be significant differences in state laws. You should consult with a reputable funeral director or cemetery owner regarding the applicable laws in your state.

Read the fine print!

The most important thing you can do when entering into a preneed funeral contract is to make sure that you understand all the terms before you commit. If you are not comfortable that you understand your obligations, consult with an attorney or financial advisor. Here are some key questions that you should ask before signing the contract:

• Is the contract flexible?
• Can you change the products and services?
• What happens if you move and want the funeral held in another city?
• Can it be transferred to another funeral director?
• What if the merchandise you have selected is no longer available at the time of the funeral?
• Will the products be delivered now or at the time of the funeral?
• If delivered in advance, where will caskets and vaults be stored?
• What happens if the provider sells or goes out of business?
• To what extent is the price guaranteed?
• Can the contract be canceled?

Pros and Cons of Preneed Funeral Contracts

The Pros

There are many good reasons to enter into a prepaid contract for funeral goods and services in advance:

1. If you have already selected a funeral home or cemetery, it may make sense to pay in advance. If, for example, you will be buried where other family members are buried, it may make sense to pre-purchase an adjoining grave or mausoleum space. Buying in advance ensures you get the location you want and locks in the price.
2. Many providers will guarantee to deliver services and merchandise at today’s prices if you enter into a preneed funeral or burial agreement and pay for it in advance.
3. Pre-paying ensures that an amount you consider appropriate will be earmarked for the funeral.
4. Depending on your financial situation, pre-funding can help you manage the value of your assets. For example, funeral insurance is not a personal asset in determining eligibility for assistance from social service programs, such as Medicaid.
5. Most states have laws requiring that providers set aside a certain percentage of prepayments in a trust account. The trusting requirement can vary from 30% to 100%. The provider manages the trust. You should be cautious about making prepayments directly to your provider if the purchased items will not be delivered immediately.

The Cons

On the downside, you assume a degree of risk when entering into a preneed contract.

• You may lose control of some of your assets when entering into a funeral trust. If you need the cash for an emergency, you may not be able to access it.
• The provider you contract with may no longer be in business when you need them. You can minimize the danger of this by making sure your contract allows you to transfer the contract to other providers.
• Preneed funeral contracts may require advance delivery of goods. Larger items, particularly items such as caskets, will need to be warehoused. Over time, they may be subject to deterioration.
• Your needs may change over time. Locking yourself into a contract can make it difficult to adjust your plans for your funeral. Make sure your agreement has a degree of flexibility to help avoid difficulties down the road.
• Market conditions can change over time. New options may become available in the future, which are more economical than what you have selected. This is especially true for items that are becoming easier to purchase online.

Only you can decide if entering into a preneed contract is right for your financial situation. With careful research, you’ll be able to make a wise choice and get the peace of mind that comes from knowing your loved ones will have everything they need to fulfill your final wishes.

What if you need to change your Preneed Contract?

If you have entered into a preneed funeral or burial contract, you need to carefully review the applicable terms.

• Is it flexible?
• Can you change the products and services?
• What happens if you move and want the funeral held in another city?
• Can it be transferred to another funeral director?
• What if the merchandise you have selected is no longer available at the time of the funeral?
• To what extent is the price guaranteed?
• Can the contract be canceled?

Whether you have prepaid or not, the terms of your contract will govern whether you can make changes.  Prefunding with a funeral trust or funeral insurance generally offers greater flexibility to make changes than if you make payments directly to your provider.

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