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Pre-Arrangements


When it comes to your final arrangements, shouldn't you make the decisions?  The arrangements you make will reflect your exact wishes and desires.  Pre-arranging your own service will help to ease the burden of your loved ones.  It will also alleviate any questions, problems or differences, which can occur among family members.

If you choose to pre-pay, it will relieve the financial burden on your loved ones. When you plan ahead you know that your wishes will be fulfilled.

Some terms to know

Preneed - refers to funeral or cremation arrangements made in advance of need.

Pre-funded arrangements - Arrangements made in advance of need that include provisions for funding or prepayment.

Pre-planned arrangements - Arrangements made in advance of need that do not include provisions for funding or prepayment.

Revocable contract - A contract which may be terminated by the purchaser at any time prior to the death of the beneficiary.

Irrevocable contract - A contract which cannot be terminated or canceled, but can be transferred, prior to the death of the beneficiary.

Guaranteed contract - A contract where the funeral home guarantees that the services and merchandise will be provided at the time of need for an amount not exceeding the original amount of the contract plus accruals, regardless of the cost of providing the services and merchandise at the time of the funeral.

Non-guaranteed contract - A contract in which the funeral home only agrees that the amount prepaid plus any accruals will  be credited to the balance due.  The price of the funeral will be whatever the current price is for the services and merchandise at the time of the funeral.

Types of funding vehicles - trust accounts, escrow accounts, insurance policies.



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