When deciding on a funeral arrangement with funeral homes in Palm Harbor, FL, you want to make sure you cover all the funeral costs at the lowest price possible. Contrary to the usual belief of having a financial burden over funeral costs, saving money on a funeral is possible. Aside from the usual setting aside of money for funeral matters, here are some alternatives and other ways to help you cover that final funeral bill.
Burial and Funeral Life Insurance
Burial and Funeral Life insurance policies typically pay the beneficiary written under your name a lump sum of money to cover all funeral costs after you pass away. The payment is made almost immediately after your passing for the funeral and other general financial needs of the bereaved family members. Burial insurance is meant to pay costs that are related to death. Taking out a burial and funeral insurance policy helps you protect your loved ones from the possible financial burden of paying for your funeral service.
Payable-on-Death (POD) Account
Payable on Death refers to the arrangement made between the client involved and the bank that names individuals assigned to receive the property and assets of the client after they pass. The process of setting up a Payable-on-Death account is not complicated at all. For most banks, the only thing they require you to do is inform them regarding your designated individual who will inherit the money you have in your account after your death. To claim the money, the designated person must only present a death certificate to the bank and immediately get the cash on hand. Having a Payable-on-Death account lowers the cost of the funeral that your loved ones need to cover.
Pre-Planning Your Funeral
Most funeral homes offer pre-arrangements or prepaid plans. Pre-planning your own funeral might be one of the best ways you can save money on your funeral expenses. Decisions that have to be made will be made, and you can even state your wishes and desires about your final celebration of life. In some funeral homes, pre-planning a funeral comes with perks and discounts on their products and services that you get to have once you avail. Although it can be a difficult task, funeral planning with funeral homes in Palm Harbor, FL, can save money on funeral costs.
Once a person passes, there are several decisions regarding funeral service and arrangements that have to be made. Spending a lot of money on memorial services does not necessarily mean giving the deceased a well-honored celebration of life. You can honor a person’s memory without having to spend too much. If you are thinking about setting pre-arrangements for your own funeral, we are here to help you. We cater to both veterans and non-veterans so you have nothing to worry about. Do not hesitate to visit us in Palm Harbor, FL to inquire. You may also visit our website to know more about the services we offer our clients.
