Prepaying funeral expenses can assist loved ones in fulfilling your final wishes and managing costs effectively. Nonetheless, individuals often have questions or concerns regarding prepaid funeral arrangements, and I would like to address these concerns to provide clear information and reassurance.

As a local, family-owned funeral home, people often ask me what happens if we go out of business, which is a legitimate concern. Since we started the funeral home, back in 1999, we have funded our prepaid funerals with a special type of insurance, which makes the purchaser the owner of the certificate. This gives the purchaser complete control over the policy and therefore, the funds. Control means you can transfer the certificate to any funeral home.

Utilizing a third-party insurance provider offers an extra layer of protection for both clients and their assets. The insurer securely manages the funds and assigns a specified growth rate, enabling the funeral home to provide consumers with a guaranteed price.

Utilizing an insurance product also allows you to set aside money to safeguard it from Medicaid and/or nursing home expenses, which is an important consideration as life expectancy continues to rise.

A common question regarding prepaying for funerals is how relocation might impact these plans. Regardless of the method used to fund prepaid arrangements, individuals generally retain the right to transfer preneed funeral arrangements from one funeral home to another. This transfer can be made across the street, to the other side of the river or to a different state, with minimal or no penalties, and in some cases, a refund of excess funds may be provided.

Prepaying your funeral may be the right option for you to consider and I’d like to help. If you have any additional concerns or would like to schedule a meeting to discuss end-of-life decisions, please contact me at (309) 694-9831 or via email at [email protected].