If you’ve recently joined the Funeralwise for Agents Program or are considering joining, you may have a few questions about the program. We’ve gathered the questions we hear most often, along with the answers. If you have a question that isn’t covered below, just let us know by emailing agency@funeralwise.com.

The post Funeralwise For Agents FAQ appeared first on Funeralwise.

The purpose of this space is to provide you with one location for helpful content, links, and resources. Keep this page handy for when you have a question, want to add to your toolbox, or simply learn something new.

Of course, we’re always available if there’s something you need that you don’t find here. Just email us at agency@funeralwise.com.

FREQUENTLY ASKED QUESTIONS

Funeral Insurance FAQ
Funeral Cost FAQ
Funeralwise For Agents FAQ

GUIDES AND CHECKLISTS

Guide to Using the Advisor Dashboard*
Voyage Description Guide*
Rules of the Road*

* File downloads on click. If you do not see it, check your Downloads Folder.

PRESENTATIONS/BROCHURES

Funeral Home Presentation*
Church Brochure for Agents**

* File downloads on click. If you do not see it, check your Downloads Folder.
**This brochure is included as an example. Email us to request a customized version.

TRAINING RESOURCES

Request Access to the Funeralwise Training Academy
NFDA CPC Training Program Info

HELPFUL LINKS

Funeralwise Dashboard Login
FEPSA.org Site
Funeralwise Memorial Store
The Funeralwise Forums Page
Final Expense Advisor Directory

CONSUMER VIDEOS

Idea Series 1: Why Plan
The Wise Planning System
Funeral Planning Robots
The Wise Way to Shop for Funeral Insurance
Plan Your Funeral in 5 Minutes

OTHER RESOURCES

Your Funeralwise for Agents Dashboard has a variety of videos that provide valuable help on various elements of the Funeralwise Wise Planning System. To access these videos, log in to your Advisor Dashboard and click on “the “Help Center” on the left-hand Sidebar.

>>Click here to log in to your Dashboard.

• Funeralwise / FEPSA Training Curriculum Guide
• Video: The Wise Planning System Quick Plan
• Video: The Wise Plan Complete
• Video: Advisor Dashboard Video Tour
• Video: How to Create a Funeral Plan
• Video: Wise Planning System “My Families” Tutorial
• Video: Wise Planning System Insurance Quote Tool Tutorial
• Video: How to Work on a Mobile Device

The post Knowledge Bank for Agents 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.

As a qualified agent, you can take advantage of the power of the software that sets Funeralwise apart from other funeral planning companies. When you combine that with the benefits of your FEPSA membership, you’ve got a toolbox second to none. Your status with us entitles you to exclusive benefits including discounted pricing and vital lead-generation opportunities. That’s why we call it the Max Plan.

Select your Max Plan Subscription

You choose the payment plan that best suits your needs. If you would like to pay monthly, click on the link for the $25 per month plan. To save 20%, pay $240 once a year.

Details of the Max Plan

The Max Plan is available by invitation, exclusively for qualified agents. At $25 / month, it is a savings of 50% over the standard subscription plan. You can pay annually at $240 to save another 20%.

Select the Monthly Payment Plan

Select the Annual Payment Plan

Features of the Funeralwise Max Plan include:

• Advisor Dashboard to access all resources and manage client relationships.
• Advisor Directory Listing on Funeralwise.com.
• Wise Planning System “Complete Plan” for your clients (a $79.95 value per client).
• Proprietary Preneed Insurance Quoter.
• Final Expense Insurance Quoter (a $25/month value).
• Series of Word to the Wise Guides for your clients.
• Funeral Planning e-book for your clients (a $29.95 value)
• After Me Organizer for your clients (at a 50% discount).
• Video Training University.
• Lead Generation Opportunities.
• Access to a CRM System for nurturing and closing lead opportunities.
• Marketing resources for funeral homes.
• FEPSA membership, including:
  • Rocket Lawyer (a $480/year value).
  • FEPS Certification.
  • Continuing Education Credits.

The post Thank you! 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.

At Funeralwise, we recognize the importance of planning ahead. That’s true for all phases of life–whether you are starting to build your family, embarking on a career journey, or getting ready for retirement.

Many people don’t realize that planning ahead for death is just as important as planning ahead for life. That’s never been more true than it is today and the main reason why we’ve made it our mission to help you prepare wisely for end-of-life. When you plan ahead, you get to manage your end-of-life your way. You are in control throughout the entire process, from how you celebrate your life to how you pay for your final expenses.

Why Plan Ahead With the Wise Protection Plan?

There are many good reasons to plan ahead with the Wise Protection Plan. Tops on our list is the fact that you get to control how your end-of-life wishes are handled. At the same time, you make sure there are funds available to ensure that what you want is what takes place.

Maybe even more important is the fact that the Plan is designed to help you make sure that when the time comes, your family isn’t left with a financial disaster. The Wise Protection Plan is more than a financial payment plan. It has everything your survivors will need to make your funeral arrangements and wrap up your affairs.

When working with a Preplanning Specialist, you’ll get the personal attention you deserve. These professionals are tops in their field when it comes to helping people like you plan for and fund their funeral arrangements.

We’ve got more details on what’s included in the Plan below, but the best way to learn more is by talking with a Specialist. There is absolutely no commitment and no obligation so we encourage you to get started now. Just click on the button below or call our 24/7 information number. It’s simple and it’s free.

Need more information?  Call 866-310-2629. We’ll put you in touch with a Preplanning Specialist.

We’re ready to help you get the peace of mind that you and your family deserve right now. After all, every life deserves to be celebrated.

The Wise Protection Plan: Everything You Need

For qualified individuals, the Wise Protection Plan includes:

• The Wise Plan Complete, a do-it-yourself funeral planner, is included for FREE. (A $79.95 value)
• Access to essential legal documents, such as a Will, is included for FREE.
• Consultation with a Preplanning Specialist is included for FREE.
• An affordable insurance plan to cover your funeral and final expenses. You’ll receive a FREE, no-obligation quote.

Click on the Let’s Get Started button below to find out if you qualify for the Wise Protection Plan.

Let’s Get Started

Why Should You Choose the Wise Protection Plan?

Do you want to have your affairs in order? Do you want to express your final wishes and leave behind a plan to carry them out? If so, the Wise Protection Plan is for you. The Plan will:

• Ensure there are sufficient resources to cover your final expenses.
• Ease the difficult and emotional task of making your final arrangements.
• Remove the financial risk to those who will be responsible for paying your final expenses.
• Provide an easy, all-in-one solution and the peace of mind that comes with having your affairs in order… for you and your loved ones.

The Wise Protection Plan: Here are the Details

The Wise Protection Plan includes our Wise Planning Solutions and much more. “Solutions” is a set of do-it-yourself planning tools, forms, and checklists to help you to plan your way, at your convenience. The Wise Protection Plan goes beyond these do-it-yourself planning solutions with the assistance of Preplanning Specialists, essential legal forms, and an affordable insurance plan to cover your expected funeral and other final expenses.

The full suite of solutions in the Wise Protection Plan includes four key elements:

#1 Personal Planning Assistance

You’ll get personal attention from a member of our network of Preplanning Specialists. These professionals will guide you through the end-of-life preplanning process. They will explain the elements of a funeral and the associated costs. They’ll work with you to understand your unique circumstances to recommend personalized, affordable solutions for covering your funeral and final expenses.

Our Preplanning Specialists are dedicated to helping you ensure that you don’t leave your loved ones unprepared for your end-of-life. Consultations are FREE and are available by phone, virtually via webcam, and in person.

#2 The Wise Plan Complete: the ultimate funeral planner.

This full-featured planner enables you to take your planning to the next level. The Wise Plan Complete is available for a one-time upgrade fee of $79.95. It is included FREE in the Wise Protection Plan.

• Share your Plan by email.
• Print your Plan.
• Get detailed funeral cost estimates.
• Use final expense planning tools to manage your cost.
• Choose funeral service providers, such as funeral homes, cemeteries, and products.
• Assign Plan Guardians (i.e., trustees for your plan).
• Do detailed ceremony planning.
• Record vital personal information.
• Get helpful funeral arrangements and post-funeral checklists.

#3 Essential Legal Documents

With the Wise Protection Plan, you’ll have FREE access to the essential legal documents typically recommended by legal experts. These documents include:

• A Last Will and Testament
• A Living Will
• A Healthcare Power of Attorney
• A Power of Attorney

#4 Affordable Insurance Plan

Having a well-documented funeral plan is a truly thoughtful thing to do for your family. Even a basic plan to describe your wishes will relieve some of the burdens they will face in handling your final arrangements. Having a financial plan in place to fund your funeral plan is the best way to protect your family from the financial hardship that many families face when a loved one dies and the final bills come due.

Funeral insurance is a popular financial solution for covering your funeral and other final expenses. Our Planning Specialists are licensed agents for the top-rated insurance carriers that we highly recommend. We have the choice to represent any insurance company. We have selected those that we believe offer the best policies, value, and security. That’s why our Specialists provide free quotes for your consideration from this slate of elite companies.

Purchasing an insurance plan locks in the full benefits of the Wise Protection Plan.

Don’t Delay. Get Started Now!

To get started, you just need to answer a few quick questions to find out if you qualify for the Wise Protection Plan. It only takes a few minutes. It’s Simple and Free. Click the button below to get started.

Let’s Get Started

The post Personalized Funeral Preplanning 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.

The post Preneed Funeral & Burial Contracts – What You Need to Know appeared first on Funeralwise.

Why Plan Ahead for Your Funeral?

The goal of preplanning your funeral is to help ease the burdens that will fall on your family, your loved ones, those you will someday leave behind. After a death, the surviving family is faced with 3 primary burdens – emotional burdens, obviously, but also financial and legal burdens. The purpose of planning ahead is to prepare them to deal with these burdens. It’s a caring and thoughtful thing to do for the people you care about the most.

Important: Do You Need to Make Funeral Arrangements Now? If you need to make arrangements for someone who has recently died or for whom death is imminent, visit our funeral arrangements page for step-by-step guidance.

Video: See the Quick Way to Start Your Funeral Planning

Funeral Planning: Step-By-Step

1. Plan ahead. Planning ahead is the best thing you can do. Your plan doesn’t need to be complicated. Even a simple plan will be helpful to your family. Start with the basics: Interment choices (i.e., burial, cremation, donation to medical science, burial at sea); and funeral service choices (i.e., a traditional funeral, memorial service, graveside service, no service).
2. Estimate the cost of your funeral. Change your choices, if necessary, to reduce the expected cost.
3. Share your funeral plan with your family so they know your wishes. Pick a trusted family member, friend or advisor to be primarily responsible for carrying out your wishes. Start with your basic plan and then keep them updated as you add details over time.
4. Specify the details of your funeral ceremonies. This is optional if you prefer not to go into the details. But keep in mind that it will be very helpful to those who will be making the final arrangements for your funeral. A Celebrant can help you plan the funeral ceremonies.
5. Make financial arrangements to pay for your funeral. Figure out if you will leave behind enough money to cover the funeral cost and other final expenses. Consider funeral insurance, trusting, pre-purchasing cemetery space, and a pre-need contract for funeral services.
6. Organize and document your key personal information. This will be essential for wrapping up your affairs and will be helpful to those who will be delivering eulogies and writing your obituary. Also, think about what you might want to leave behind for genealogy purposes. Future generations in your family will appreciate all of this information.

Funeral Planning with our Wise Planning Solutions

Our Wise Planning System is a comprehensive do-it-yourself methodology that helps you plan your funeral the right way–YOUR WAY. Consisting of a set of easy-to-use online tools, the system organizes the planning process and guides you along the way. It’s a proven method that puts you in control of your funeral plans and allows you to easily create, maintain and share your funeral plans.

To learn more, see our Wise Planning Solutions Comparison Chart.

The Quick Plan is the first step of our Wise Planning Solutions and is a great way to jump-start your funeral planning. Once you have created a Quick Plan, be sure to save it. Once you do, you’ll be able to add additional details. The planning tool will also show you how much adding features and products adds to the cost of the funeral.

Start My Quick Plan

Prefer to work on paper? For those who prefer to put their funeral plans on paper, our Funeral Planning Form is the perfect place to start. This handy funeral planning checklist will help you compile all the information you need in one convenient location.

Funeral Planning Tips and Advice

• When to Plan Ahead: The best time to plan ahead for a funeral is any time except at the time of the funeral. After all, you wouldn’t try to plan a wedding in just a few days. A funeral is the ultimate celebration of your life. Planning ahead gives you the opportunity to decide what you want, how you want it, and when you want it. Best of all, you aren’t locked in. If you change your mind, just update your plan. Check out our article on Funeral Preplanning to learn more about how to get started.
• Funding Pre-planned Funerals: Deciding whether or not to fund your pre-planned funeral in advance can be confusing. There are a lot of good reasons to consider pre-funding your funeral, and you’ll rest easy knowing the money is there when it’s needed. Even better, the burden will be taken off those you leave behind, and you can lock in prices.
• Changing Funeral Contracts: Be sure to carefully check ALL the terms of your before you sign it. Some contracts allow for changes down the road while others do not.
• Prepaying Considerations: Like just about everything in life, there are advantages and disadvantages to prepaying for funeral goods and services. Whether or not it’s right for you will depend on your circumstances. You want to be certain that the arrangement you enter into will suit your needs down the road. Carefully read overall terms and conditions, including the fine print.
• Planning Ceremony Details: For detailed planning of a funeral or memorial service, you’ll find excellent advice in Funeral Ceremonies, and tips for writing Eulogies and Obituaries.
• Green Pre-Planning: Green burial is a relatively new option but it is becoming increasingly more popular. Pre-planning is the perfect time to investigate your options. Visit our <a href=”https://www.funeralwise.com//funeral-planning/green-burial/”Green Pre-Planning and Green burial sections so that you can be sure to explore all the options available to you.
• Your Family and Grief. Your funeral isn’t just about you. It is vitally important for your family. They will want to give you a meaningful tribute. A funeral for a loved one is an important part of the healing process. It’s a time for your family to remember, say goodbye, and start a new stage of life.

Don’t Leave Your Loved Ones Unprepared

It’s not easy to think about end-of-life. Nobody wants to plan a funeral. But face it, we all have to do it at some point. Planning ahead is a caring thing to do for your family. You are giving them the peace of mind that comes with knowing they will be able to celebrate your life and honor your wishes.

Take this Free 60-second survey to find out how prepared you are and what you more you need to do.

Try the Survey

How To Pay Funeral Costs

There are many elements that go into the cost of a funeral. From the services provided by the funeral director to the casket to the flowers, costs continue to rise. Today, a traditional funeral can easily cost more than $10,000. Leaving behind no mechanism to pay for these items can place a heavy financial burden on your loved ones. Remember, payment is due at the time of the funeral.

So how do you know how much to set aside and how to control the cost? The best way to manage your funeral costs is to do some advanced planning. Our Wise Protection Plan is a one-of-a-kind plan that includes the free personal advice or a Preplanning Specialist, essential legal documents for free, and an affordable prepaid funeral plan.

Our section on Funeral Costs will help you understand just what goes into the cost of a funeral and some of the financial and legal issues you need to consider.

The Types of Funerals People are Choosing

Thousands of people have used our free online planning tools where we guide you step-by-step in making a few key choices about the kind of funeral you want as well as what that type of funeral usually costs. Below is a sample of the funeral plans people are making so you can see you have lots of options to choose from.

Last updated: July 24, 2022

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The Wise Protection Plan is your all-in-one solution for prepaying your funeral.

If you are worried about leaving your family with a financial burden at your end-of-life, this plan can be the solution you need.

It’s more than a financial payment plan, it has everything your survivors will need to make your funeral arrangements and wrap up your affairs.

The Wise Protection Plan: Everything You Need

The Wise Protection Plan includes:

• The Wise Plan Complete, a do-it-yourself funeral planner, included for FREE. (A $79.95 value)
• Access to essential legal documents, such as a Will, included for FREE.
• Consultation with a Preplanning Specialist, included for FREE.
• An affordable insurance plan to cover your funeral and final expenses. You’ll receive a FREE, No Obligation Quote.

It’s Quick and Easy to Get a Free Quote

Click on the button below to get a Free Instant Quote for the Wise Protection Plan. All you need to do is complete a simple Quick Plan to get an estimated funeral cost. Then you can get your quote based on your estimated funeral cost. There’s No Obligation and it only takes a few minutes. Get your Free Instant Quote Now!

Get My Free Quote

Why Should You Choose the Wise Protection Plan?

Do you want to have your affairs in order? Do you want to express your final wishes and leave behind a plan to carry them out. If so, this plan is for you. The plan will:

• Ensure there are sufficient resources to cover your final expenses.
• Ease the difficult and emotional task of making your final arrangements.
• Remove the financial risk to those who will be responsible for paying your final expenses.
• Provide an easy, all-in-one solution and the peace-of-mind that comes with having your affairs in order… for you and your loved ones.

The Wise Protection Plan: Here are the Details

The Wise Protection Plan includes our Wise Planning Solutions and much more. “Solutions” is a set of do-it-yourself planning tools, forms and checklists to help you to plan your way, at your convenience. The Wise Protection Plan goes beyond these do-it-yourself planning solutions with the assistance of Preplanning Specialists, essential legal forms, and an affordable insurance plan to cover your expected funeral and other final expenses.

The full suite of solutions in the Wise Protection Plan includes:

Wise Plan Complete:

Wise Plan Complete is the ultimate funeral planner. It’s our full-featured planner enabling you to take your planning to the next level. The Wise Plan Complete is available for a one-time upgrade fee of $79.95. It is included FREE in the Wise Protection Plan.

• Share your plan by email.
• Print your plan.
• Get detailed funeral cost estimates.
• Use final expense planning tools to manage your cost.
• Choose funeral service providers, such as funeral homes, cemeteries, and products.
• Assign Plan Guardians (i.e. trustees for your plan).
• Do detailed planning of ceremonies.
• Record vital personal information.
• Get helpful funeral arrangement and post-funeral checklists.

Essential Legal Documents:

With the Wise Protection Plan, you’ll have FREE access to the essential legal documents typically recommended by legal experts. These documents include:

• A Last Will and Testament
• A Living Will
• A Healthcare Power of Attorney
• A Power of Attorney

Personal Planning Assistance

You’ll get the personal attention from a member of our network of Preplanning Specialists. These professionals will guide you through the end-of-life preplanning process. They will explain the elements of a funeral and the associated costs. They’ll work with you to gain an understanding of your unique circumstances in order to recommend personalized affordable solutions for covering your funeral and final expenses.

Our Preplanning Specialists are dedicated to helping you ensure that you don’t leave your loved ones unprepared for your end-of-life. Consultations are FREE and are available by phone, virtually via webcam, and in person.

Affordable Insurance Plan

Having a well-documented funeral plan is a truly thoughtful thing to do for your family. Even a basic plan to describe your wishes will relieve some of the burdens they will face in handling your final arrangements. Having a financial plan in place to fund your funeral plan is the best way to protect your family from the financial hardship that many families face when a loved one dies, and the final bills come due.

Funeral insurance is a popular financial solution for covering funeral and other final expenses. Our Planning Specialists are licensed agents for the top-rated insurance carriers that we highly recommend. We have the choice to represent any insurance company. We have selected those that we believe offer the best policies, value and security. That’s why our Specialists provide free quotes for your consideration from this slate of elite companies.

Purchasing an insurance plan locks in the full benefits of the Wise Protection Plan.

Get Your Free Instant Quote

It only takes a few minutes to get a quote for a Wise Protection Plan. First, you’ll complete a simple Quick Plan to get an estimated funeral cost. Then you can get an instant quote based on the estimated funeral cost. It’s Free and there’s No Obligation. Why wait? Click the button below to get started now.

Start My Quick Plan and Get My Quote

For more information, feel free to contact us at protection@funeralwise.com.

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