It’s no secret that cremation and funeral services can be costly, depending on the location and the details of the event. This could be more problematic if the individual had no preplanning and no funding to help cover the costs. So once the individual has passed away and the loved ones need to look at funeral homes in Daytona Beach, FL, it can become a much more stressful experience for the individuals left behind. Understanding the different ways to help pay for the event can be highly beneficial, and here are some suggestions.
Life Insurance
In an ideal situation, the individual will have an insurance policy that can cover all of the costs for the services. In some cases, if the funds aren’t going to be released right away, some funeral homes can work with their clients through outside agencies to establish a loan against the cash payout from the policy to cover the expenses.
Prepaid Contracts
If you’re looking at preplanning, one option is to check with your local funeral home because some will carry contracts that can be for specific periods to be paid into just for the expenses.
Trust Funds
If your family has prearrangement set up for funds already in place, there may be trusts that have specific names on them of family members, and the funds could be utilized to finance the service.
Credit or Loans
In a scenario where no funding is in place, one option is to use credit cards or take out a personal loan if they are available. It is recommended to utilize the personal loan before credit cards simply because interest rates are higher with the cards.
Crowdfunding
There are multiple platforms online now where individuals can make donations to different causes. Companies such as GoFundMe are great options; they can allow the outside community to help drive donations to show the support of the family.
Outside Agencies
A couple of other considerations to look at are reaching out to churches and nonprofits because, in some cases, they have an allotted amount to help contribute to funeral expenses. You might also consider looking at federal agencies such as the Veterans Administration or the Social Security Administration because they will offer a one-time death benefit depending on if the individual meets the requirements.
Helping Our Families Stay at the Heart of the Matter
Having funding already set in place for your loved ones can make all the difference when they’re trying to process the grief of loss manages setting up all the details. Baldauff Family Funeral Home and Crematory is a locally owned company that understands the intricacies of planning a service that truly honors our clients loved ones.
We take great pride in focusing on the families in our community and would love to help. So, if you are looking at funeral homes in Daytona Beach, FL, let us help you through the process by giving us a call today to set up your appointment.
