So you’ve decided that you would like to pre-pay your funeral expenses…
How will your money be invested?
It’s your choice. As I said last week, there are three different invest ments offered at the Blenheim Community Funeral Home each with it’s own characteristics:
Annuity or an Insurance Policy:
– Pre-arranged funeral can be paid in full or in installments
– Can be purchased as a “joint first to die” to be used for whomever dies first
– All principal and interest is returned to you on cancellation – Excess funds can be paid to a beneficiary tax free
Trust:
– Pre-arranged funeral can be paid in full or in installments – All principal and interest is returned to you on cancellation – Growth can change quarterly
– Excess funds are paid to the estate and are taxable Insurance:
– Pre-arranged funeral can be paid in full or in installments – Can be purchased as a “joint first to die” to be used for whomever dies first
– If paid in full and cancelled, the premium paid is reimbursed but if paid on a time pay, the cash surrender value is paid
– If paid over time and death occurs within 24 months, the death benefit is limited but after 24 months the death benefit is the full funeral amount plus growth.
– Excess funds can be paid to a beneficiary tax free.
There really are good points for any type of investment, but the choice is yours. For more information, don’t hesitate to call.
