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                                                                      Guaranteed Funeral Funding
Insurance policies can provide funding, while pre-need policies combine both funding and the arrangement. Creating your arrangements involves deciding on your final disposition (burial, or cremation) and selecting goods and services based on how you wish to memorialize your life. Once that step has been completed, funding options for an arrangement through a policy designed to work in concert with your arrangement are available. These types of arrangements are referred to as pre- arrangements, or pre-need.
Pre-need insurance is a special policy that has been created for funeral homes to fund in the exact same amount of your funeral pre-arrangement.
The policy is generally irrevocably assigned, so that it is no longer considered a cash asset. This protects the policy for the purposes it was intended for.
The policy can be purchased in a simple single premium, or in monthly payments, through the funeral home. Funds are held by the insurance provider.
The pre-need policy is structured to pay the funeral home directly for the goods and services originally selected. The cost of goods and services through the funeral home will be covered by the benefit amount in your pre-need policy and there will not be any additional cost to your family or estate for these costs. Some disbursements are out of the control of the funeral home, such as Newspapers, or honorariums to participants like celebrants or musicians. If there are any increases, only the difference is owed.
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