You can pay for your funeral in advance if you have sufficient funds available and do not require the significant loss of your savings. You might decide to pay for your funeral with monthly installments over the next 5 or 6 years, but this will dramatically reduce your income. Why not assign your insurance policy with insurance assignment funding so that the funeral can be paid on time with the remaining funds being allocated to those listed in your last will and testament?
What will happen if no one within your close family has the necessary savings or access to funding to pay your funeral bill on time?
The Easiest Way Forward
When you have already organized an insurance policy which will pay out on your death, you will have expected the proceeds from the policy to be able to pay your funeral bill.
The problem that occurs is that your estate may take many months to be able to receive the funds from your insurance policy and even where this is paid relatively quickly, your attorney may not be able to pay the funeral bill as quickly as the funeral director would prefer. Insurance assignment funding means that the money is in place at the right time and the bill can be paid a few days after your funeral has been completed.
This provides your family with peace of mind, knowing that the bill can be paid on time and they do not have to search for the funds to complete the payment and then seek repayment of an expense at some stage in the future from your estate when it is wound up and completed.
Insurance assignment funding is a relatively straightforward task to complete. The professional company completing this task will be able to take the burden away from you, and they will deal and negotiate directly with the insurance company, leaving you free of these worries or concerns.