Your Guide to Funeral Planning | 06.05.2023

Protecting Loved Ones From Financial Burden

Protecting Loved Ones From Financial Burden

Reviewed By: Elizabeth Siegel

Cross Checked By: Scott Ginsberg

It is common and quite natural to worry about the effect that your passing can have on your loved ones. One of the primary concerns people have about this is the financial burden that their loved ones will have to bear. In this article, we will highlight some steps you can take to ease the potential financial stress for your loved ones as far as possible.

Identifying Possible Sources Of Financial Burden

To effectively plan for the financial consequences of your demise on your loved ones, you first need to identify the expected expenses. If you are the breadwinner of your family, consider getting a life insurance policy in your name if you have not already. In case you are not familiar, life insurance is a contract that allows the policyholder to leave a pre-decided amount of money for their ones. Securing a life insurance policy will relieve you and your loved ones of the immediate financial burden after death.

The Benefits of Funeral Insurance

A funeral insurance policy is more specific than a life insurance policy since it is meant to provide funeral cover specifically. Also known as burial insurance, this particular type of insurance can be helpful if you do not have a life insurance policy but want to make sure that your loved ones don’t have to worry about funeral finances at least.

For many people, if life insurance is not an option, they opt for this type of insurance policy which guarantees a fixed amount of funeral cover upon your passing. This funeral cover can be used by your mourners to take care of any and every expense related to organizing your funeral, including but not limited to a burial plot, a funeral service, a hearse, a casket, etc. This can significantly alleviate the short-term financial burden for your loved ones and give them some time to get their affairs in order without having to worry about the immediate financial needs of organizing your funeral.

Preplanning Your Own Funeral

To ensure that your funeral is carried out in accordance with your wishes, you will have to make decisions about the funeral arrangements in advance and even book them on a pre-need basis wherever possible. For example, you may want to narrow down a burial plot and purchase it for yourself at your earliest convenience so that your loved ones do not need to worry about that later. Funeral preplanning is becoming an increasingly common way to manage funeral costs and reduce the financial strain on your loved ones after your passing.

You can also create a plan for what kind of funeral service you would like to have, and you can plan it down to the smallest detail, including what kind of aesthetic you desire, what services you would like to avail, and the model of the casket in which you would like to be buried. You should ideally document your preferences for your funeral in addition to communicating them to your loved ones so that your funeral takes place in line with your vision, and your loved ones do not have to guess about your preferences.

With Titan Casket, you can preplan a casket by browsing options across various designs and budgets and buying the one you prefer on a pre-need basis. Our permanent preplan contract makes things simple for your loved ones when the time of need arises. Within 24 hours of placing a call to us, the casket you selected will be shipped to your funeral home or other desired location. This option can help alleviate some of the pressure that your loved ones might be under during this challenging time.