A funeral plan is one way to pay for your funeral in advance, so that your loved ones don't have to worry about financing it when the time comes. However, if you have a terminal illness, taking out a new prepaid funeral plan might not be the most suitable option. This is because prepaid funeral plans take into account that funerals can get more expensive over time, as well as including an admin fee.
Other Ways to Prepare for Funeral Costs:
Using Your Current Life Insurance:
If you have a life insurance policy, you use it to help cover the costs. It is a good idea to leave details of any insurance policies in the important documents section of your The Farewell Guide account.
Savings:
Putting money aside in a special savings fund can help with paying for your funeral, you can leave details of where to find the account information in your The Farewell Guide plan.
Setting Aside Money in Your Will:
Including provisions for your funeral in your estate, this will give your loved ones a fund to pay for your funeral with. You can include guidance in your The Farewell Guide plan of where to find your will.
Government Assistance:
Your loved ones may be eligible for a government grant to pay for your funeral. You can find details of government grants in the following blog:
The Farewell Guide tool lets you store your funeral wishes and important documents digitally for free, you are able to share your The Farewell Guide plan with your loved ones to help them manage your funeral.