Can I freeze the cost of funeral services and cemetery property at todays prices, even if it is not used for decades?
Yes. Cemetery property and services, such as lots, vaults, caskets, memorials, and opening/closing fees can be purchased in advance of need from the cemetery, locking in the price paid. Funeral homes, however, are not permitted to accept payment for services they have not yet provided. To arrange funeral services in advance, while fixing the cost at today’s prices as one would with cemetery property, a funding vehicle, such as a trust account or insurance policy must be used. (Please see our funeral expense funding page for more information) Trust accounts earn interest every year, on which the purchaser must pay tax; also, trust accounts do not have an insurance benefit that pays for the funeral in full if the purchaser dies while still making payments. For those reasons and others, Final Expense Insurance Policies are the preferred manner of pre-funding funeral arrangements. Final expense insurance can be purchased from a licensed insurance agent and may be used at any funeral home.
Related Questions
- We have burial property at Little Bethel Cemetery (or Laurel Land Cemetery). Can our family use Jaynes Memorial Chapel for the funeral services and still be buried in the cemetery of our choice?
- We have burial property at Sunset Cemetery. Can our family use River City Funeral Home for the funeral services and still be buried in the cemetery of our choice?
- How much does a funeral service cost today, and how much might it cost in the future?
