When prepaid makes sense

In the emotional time after a loved one’s passing, people can be unprepared for the cost of a funeral. However, you could save your loved ones a whole lot of distress and financial burden if you simply make a few decisions now.

Do you want to be able to make the time following your passing easier for loved ones, by making your own decisions and paying at today’s rates? That’s what you get with a prepaid funeral – all your chosen services locked in with protection against inflation.

Some might think why bother making your own funeral plans, given that you won’t be around to remember it, but it really does make a lot of sense. Not only will your loved ones be freed from making difficult decisions, about what they can and can’t afford for your funeral, but a prepaid funeral is also exempt from the Age Pension asset test, so you could actually benefit even further financially.

But what about funeral insurance; surely paying a small amount each month makes more sense?

You might think so but it’s worth keeping in mind that insurance premiums need to be paid for the duration of your life. While you know you won’t last forever, you could be paying funeral insurance for 20 years or more – those premiums soon add up. Also, if you can’t afford to keep paying the premiums, you’ll lose your cover and it’s unlikely that you’ll see the return of any premiums paid. And even if you do keep your policy until the end; given inflation and increasing prices, your payout may not cover the full cost of your funeral.

What if you can’t afford the full cost of a prepaid funeral now? Well, Simplicity Funerals offers you the option to pay in installments so you can spread the cost as well as locking in a fixed price for actual services chosen.

Still not convinced prepaying your funeral is a better option? Then why not jump online to Simplicity Funerals and use its handy Prepaid vs Funeral Insurance calculator to work out just how much you could save. 

For a perfect illustration of how much you can save with a prepaid funeral, watch what Don and Barry have to say on the matter.

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