When a loved one passes away, it can be difficult to think about much else, including how to pay for the funeral expenses. Life insurance is designed to alleviate the financial burden on families, but it takes time to file a claim and receive the money. Funeral financing is an excellent alternative to help families plan a funeral when they are ready, instead of waiting for the funds from the life insurance company. Explaining how funeral funding works can help alleviate stress and provide families with the tools they need to move forward with funeral plans.

Use the Funds Right Away

Some families suffering from shock and grief haven’t considered how they will pay for a loved one’s funeral. Others assume their life insurance policy will take care of everything. Few realize that a claim with their insurance company must be processed and paid before they will receive funds for the funeral. This could mean either putting the funeral on hold or using high-interest credit cards or personal loans for payment. Fortunately, funeral financing provides an alternative that allows these families to move forward with the funeral right away. The funding company verifies the insurance policy and provides families with quick access to those funds. Funeral funding can reduce the financial stress and give families the opportunity for closure on their own time table.

Reduce Paperwork

Filing a life insurance claim often requires extensive paperwork. During an already stressful time, filling out these documents properly can be difficult. Funeral funding companies provide assistance to these families, often completing much of the claims for them. In addition to completing these important documents for the family, they also handle collecting the money from the insurance company. Families don’t have to be concerned about making phone calls or dealing with insurance companies when they are already feeling overwhelmed.

A Low-Cost Alternative

Credit cards and personal loans often include high interest rates that will quickly add to the total cost of the funeral. Even if you receive the insurance money within a month, you may still be charged high amounts of interest. Working with a funeral funding company can drastically reduce these costs. In addition to reducing the cost of interest on a loan or credit card payment, these families won’t need to worry about making a payment plan. They simply make their funeral arrangements and allow the funeral financing company to handle the rest.

Paying for a funeral is often the last thing individuals think about when they have lost a loved one. Instead of taking out a loan or adding the funeral costs to a high-interest credit card, families can get relief with funeral funding. As a funeral director, it often becomes important to explain how the process works and why it is best for their clients. Besides saving money, using a funeral financing company can reduce the stress families often feel in these situations.

If you are interested in funeral funding for your clients, contact us. We work with funeral homes to allow grieving families to plan funerals in a timely manner.