It is important to talk with our families about end of life plans. Here are some questions to help.
Funeral and end of life planning
There are so many things to think about when it comes to funeral planning. Here is a resource to help with that process.
Final Expense Coverage
What is Final Expense Coverage?
The end of life is a stressful time for families. To help lower the decision-making process and stress at that time, we create a plan now.
This plan will look to cover the expense of your burial, funeral cost, as well any outstanding debts, probate fees, or other expenses.
Why Do I need it?
To not burden your loved ones with decision-making during their time of grieving, you preplan. This plan involves lowering the financial burden on your family. This also lets them know of your wishes for the funeral, etc.
Tax-free Benefits
Funeral Protection can become a tax-free benefit when used to fund an Eligible Funeral Arrangement with a licensed funeral provider in Canada.
Protection
For those who have investment funds that you want to leave to your family, we can set up protection so that creditors can not access them.
Funeral Planning
Here is a great tool to help you plan your funeral from one of the companies I work with –
Download: The funeral planning worksheet.
Let's meet for a complimentary meeting and get you set up.
Life insurance or prepaid funeral
Making a plan for final expenses is an important part of serving your family and managing your financial house.
There is a cost that comes with dying. There are options you have in helping cover those costs.
One option is a prepaid funeral or life insurance policy.
A Prepaid funeral lets you pay upfront for your funeral. Most let you set up the type of funeral you want and cover most, but not all of the expenses related to your funeral. Typical, you pay a lump sum or monthly installments. Any interest earned on the money is used to help pay the increased cost in the future. One advantage is you lock in cost at today’s prices.
A life insurance policy gives you and your family some flexibility. As well, it could give your beneficiaries a more considerable death benefit. The death benefit could be used to cover all the funeral costs and extra costs that will come with closing your estate. I would suggest alongside that have a conversation and write out in your will or other documents your wishes for your funeral. That part will not cost you, just some time.
Many have chosen prepaid funeral because they want to get everything taken care of for their family. However, with the same about of energy one can choose life insurance and still make those plans they want to.
Before you jump into that prepaid funeral. Hit the pause button and let me compare and look at the options that you have. Those options will be better for you and your loved ones. It will not cost you anything. There is no obligation, lets just talk about options. Let’s set up a 60 min meeting over zoom.