A pre-arranged funeral agreement is a contract between an individual and a funeral director that establishes in advance what is to be done when that individual dies.
This type of arrangement gives you the opportunity, regardless of your age or situation, to organise your own funeral, thus ensuring you that your final wishes will be respected, no matter what your religious convictions, customs or beliefs. Managing your patrimony while you are still able to do so also allows your loved ones to mourn without having to make decisions and take care of all the formalities associated with this serious responsibility.
The pre-arranged funeral contract can cover the purchase of the coffin or funerary urn, flowers, transportation of the body, embalming, cremation and details regarding the memorial service as well as a range of other goods or services associated with your funeral.
You can defray the costs associated with your pre-planned funeral arrangements at today’s prices for services that will be provided later, at no additional cost.
You will receive the goods and services you’ve selected at the agreed-upon price.
It is important to point out that the amount paid for this type of contract is deposited in a trust account. This means your money will be well-protected and sheltered from inflation. If you decide – for whatever reason – to cancel or modify your contract, the law allows the funeral home to keep up to 10 percent of the price of the goods and services ordered to cover administrative costs.
If you prefer not to pay in advance, you can choose to simply plan your funeral. This option gives you the opportunity to describe the goods and services you want, with payment to be made when you die. However, you must realise that prices cannot be guaranteed. Your estate will be responsible for paying the cost of funeral services at the rate in effect at the time of your death.
Although it may seem difficult to plan your funeral in advance, a pre-arranged funeral will give your loved ones peace of mind while meeting all your expectations. It lets you give your family and the people who are important to you the chance to mourn without having to take care of administrative matters and without having to wonder if “this is really what you would have wanted”.
Did you know that when you pre-arrange your funeral you can pay for it with a monthly payment plan regardless of your age or state of health? If you choose this type of service, the unpaid balance is covered by an insurance policy, the cost of which is included in your payments. If a beneficiary dies within 24 months of signing the contract, the total amount already paid is returned to the buyer. If you die before the contract is paid in full (and more than 24 months after signing), the balance of your contract will be paid in full for you.