Funding Options for a Funeral
You may be immediately overwhelmed by the long process that lies ahead after someone dies. It’s very likely that you, like most of us, don’t have several thousand dollars to spend without causing further financial hardship. It’s also possible that you’ve never experienced such loss and grief, let alone the immense responsibility. Before you become concerned about the potential cost of the funeral, consider what assets are immediately available to you. You might discover that the problem will resolve itself. You should check with funeral homes in Freedom, PA to see if they can assist you with this.
The following are some funeral funding options.
Funerals Paid in Advance
Pre-paid funerals, a new option that has gained popularity in recent years, can significantly reduce the financial burden on a family following the death of a loved one. Pre-paid funeral plans are a type of insurance offered by funeral homes that covers all funeral costs. They are paid in full before death and are planned far in advance.
It also allows the person to select the type of funeral, or even none at all, giving them autonomy even after death. They range from a full-service funeral, including burial, transportation, and service fees, to simple cremation.
If this is the case in your situation, there is most likely documentation of the pre-paid policy on file. If your loved one has provided this coverage, your responsibilities will be limited to a few minor tasks that may need to be completed on-site or after the funeral.
Personal Life Insurance
This is the most likely source of additional funds if they are available. Life insurance is a type of insurance that pays out a lump sum, also known as a death benefit, to the policy’s beneficiaries in exchange for monthly payments made to the insurance company. If you are not the beneficiary, you should find out who is and contact them. They should most likely bear responsibility for the funeral expenses.
The Will
A will is a legally binding document that allows a person to plan for their estate after death. Often, the individual has set aside a specific amount of money for their funeral.
Eligibility for Benefits
Depending on the person’s position in life and the circumstances of their death, they may be eligible for certain benefits that can help with funeral expenses and other costs. You must check for eligibility yourself, as these are not always automatically received.
Local and State Assistance
Unfortunately, there are few federal programs to assist with funeral expenses. However, depending on your geographic location, you may have other options. Every state has its own funeral assistance rules and guidelines. Furthermore, most deaths are handled by the county government, and those officials may assist with certain associated costs. Aside from Social Security, any other government-funded organizations are dependent on circumstances or personal enrollment in a specific organization. However, if any of these apply to your situation, they may be able to assist. The benefits are usually minor and may only include cremation services.
The funeral homes in Freedom, PA are dedicated to providing accurate and helpful information to assist you during your time of bereavement. Please visit or call us if you have any further questions about this process.
