Bill R. asks "Can I save my family money by paying for all of my funeral services before I die?"
It's possible. If you choose to have funeral home services and merchandise guaranteed with a funeral contract it is called "prefunding a funeral." At Krause Funeral Homes a written contract guarantees that there will be no hidden or additional costs for the funeral arrangements you choose and removes the possibility that grieving or guilt-stricken family members will feel the need to overspend. And your contract is portable—in the event you move, the plan and funds are yours to use at whichever funeral home you desire. A prefunded funeral can also provide real benefits if applying for Medicaid.
Here's how it works: When you prefund a funeral you and your certified preplanner will put the details of your wishes in writing—including specific services and manufacturer and model of the merchandise you choose.
At the time of death that detailed list will be compared with a current price list to gather current costs. If at the time of death the cost of services and merchandise chosen is MORE than the value of the policy, the funeral home will cover the difference. In that way you are guaranteed the service and merchandise you chose at no additional cost to you.
If after comparing the current costs with the value of the policy the total is LESS than what is in the policy, the excess money goes to the family.
We cannot guarantee “Miscellaneous” fees, as they have nothing to do with the funeral home. For example, we have no control over the increase in costs or the amount the family may want to spend for newspaper death notices, flowers or the cost of the luncheon or cemetery plot.
*For privacy reasons, we have changed the names of the people who have asked questions.