Tips for Paying for Cremation Services
Everyone will die at some point. As uncomfortable as it is to think about, you do need to be prepared because, when your time comes, your family will have to arrange and pay for your cremation services in Reserve, LA. This can be stressful, especially because they will be grieving.
There are ways, however, that you can help assuage this stress for your loved ones and arrange payment for your cremation. Use these tips to help your loved ones pay for your cremation, like insurance. Most life insurance policies will pay out a lump sum of money to a beneficiary when you die. This lump sum can go a long way towards paying for your funeral or memorial service. These insurance payments are made almost directly after death so your loved ones can pay for the cremation right away. There are also special insurance policies for death related costs like burials, funerals, cremations and more.
Payable-on-death accounts, or PODs, allow you to set money aside specifically for cremation and other death-related expenses. Your beneficiaries simply have to present a death certificate to the bank in order to obtain the money. They will not have access to the money until after your death. If you served in the military you may be eligible for veteran’s benefits, including burial and funeral at no cost. The Veterans Administration will pay a burial allowance to your loved ones to cover funeral and cremation expenses. Check the VA website to see if you’re eligible.
You can also borrow. Banks also offer loans specifically for cremation expenses. However, as these loans are personal and unsecure, they can get expensive. Interests range usually from 16 to 35 percent on these kinds of loans. Since the FCA recommends that you do not go into debt for post-death costs, be sure to only take out a loan you can easily pay back.
Don’t worry if none of these are good options for you. If you don’t have money to set aside right now, and feel like you won’t later on either, you can plan for low-cost funeral options. From direct cremations and at-home funerals to green burials, or even donating your body to science, there are definitely low-cost options out there. If you do plan to donate your body to a medical school or other institution be sure to enroll in advance.
Do keep in mind, though, that prepaying might not be the best idea. Some funeral homes and cremation businesses offer pre-payment plans where you can pay in advance for services. While this seems like a good idea, its actually not as prices can vary greatly over the years, and you might end up paying a lot more for the same services.
Millet Guidry Funeral Home offers a range of affordable and quality Reserve, LA cremation services. If you have more questions about payment options or would like to learn more about what we can do for you, please stop by and see us in person or give us a call today.
