There is no easy way to step around the subject of death, because it is something that is going to happen to all of us eventually, and it has probably affected us in some way or another, due to the death of a family member. Many of us take out life insurance policies, house insurance policies, and going on holiday, insurance policies, but for some reason, we don’t seem to want to plan for the cost of a funeral. The sensible thing to do would be to start planning for your funeral now, while you are healthy, and thus removing the responsibility of planning the whole thing, to your nearest and dearest. It is an incredibly responsible thing to do, and one that we should all consider planning for.
For those that are going to take the bold step of planning and paying for the funeral today, then there is the option of Nimble funeral loans to help you meet the costs of your funeral now, before the prices continue to go up. If it is likely that you’re going to be still here in 20 to 25 years from now, it is probably safe to say, that the price of a funeral then, will have more than doubled. It makes sound financial sense, to borrow the money now, pay for your funeral, and then start to pay your funeral loan back, in increments that are easily affordable. There are some other ways to help with the costs of the funeral, and we will explore some of them here.
- Insurance – There are a number of policies, that you can take out now, to protect you in the event that you’re one of the million people that have filed for unemployment benefits due to the current pandemic. This will allow you to continue to make the regular payments, to cover your funeral loan. There is also some life insurance to consider, so that when you die, your family members will receive a lump sum to cover the cost of your funeral ceremony.
- A savings account – It is very easy and straightforward to start putting aside money now, into a savings account, so that when you die, there will be sufficient money to cover the funeral costs. It would probably be better to set up a joint account with a family member, and this way they can get the funds quickly and easily. When you pass away, the other member of the joint account becomes the sole owner of the funds. Be sure to pick someone that you really trust, because they will have access to the money even when you’re alive. For additional tips, have a look here.
These are only a couple of the options that you have, but even if you fail to take the proper steps to plan for your final days, your family can still take advantage of a funeral loan to help cover the costs of a funeral. Obviously, it would make much more sense if you were to get a funeral loan now, and then pay for it yourself, over the coming years.