Should I Pre-pay?
Once again each person's individual circumstances, and other factors, will influence this decision but there are a number of advantages to prepayment that you should consider.
1) Guaranteed cost: when you fully fund your pre-planned arrangements we guarantee the cost of the designated services and merchandise at today's prices. You will be protected from the effects of inflation on funeral costs over time. There are related services such as newspaper notices for which we cannot guarantee costs because they are not provided by us. Our staff, however, are skilled at helping you to estimate these expenditures and to make allowances for them in your funding arrangements.
2) Family security: with funding in place, and your costs guaranteed, there will be no charge to your family or your estate for the plans you've made at the time they are carried out. People tell us that they like knowing that their families won't face both a loss and an unexpected financial burden at the same time.
3) Estate planning: people often choose to preplan and prepay in the years leading up to their retirement. Typically, it is at this point in our lives that we are in our prime earning years and have the most expendable income. For many this is both the easiest time to manage the expense and, by locking in the cost, an opportunity to remove an unpredictable future expense from their financial planning requirements.
4) Budgeting: our pre-planning program offers a payment plan option that allows you to pay the cost over a period of time and, in some cases, you can still take advantage of the cost guarantees discussed above. Again, our staff can review these options with you to ensure you make the decisions that make sense for you, your family, and your future.
Those who choose to pay for funeral arrangements in advance generally have a choice with regard to how and when they pay.
In New Brunswick today we recommend an insurance product as the ideal way to pay for pre-planned arrangements. We believe this is the best option because of the flexibility and protection it offers.
You have the choice of making a single full payment or making regular partial payments over a predetermined period of time.
Because this is insurance, most people will have full coverage right away even if they choose to pay over several months or years. In other words, if death should occur unexpectedly after only a few payments have been made, the plans you made will be fully paid for by the insurance company.
With full payment you are eligible for our locked in price guarantee meaning the services you've arranged are paid in full regardless of any increase in our prices between the time of arrangement and the time the funeral plan is carried out.
In today's world of easy travel and active retirees, our insurance products also include the option of special coverage to protect you and your family should a death occur unexpectedly away from home. The necessary care and transport of the deceased can be a significant expense. Have us explain how this special policy covers you in such circumstances.
Your funeral director or pre-planning counsellor can tell you more about how these options work and may be able to offer you additional choices and benefits depending upon the arrangements you make.