Pre-Payment Options

Why pre-pay?  

• Eliminate financial strain for surviving family members.
• Lock in today's prices.  Guarantee the cost of the funeral and merchandise selected.  Once paid for in full, your funeral will not cost you more in the future.
• Have "Peace of Mind" knowing that everything is taken care of.
• Protect your assets from confiscation due to long-term care expenses.  Prearrangement funds are 100% protected from nursing home care.
• Decide how much you can afford to spend on your funeral.

What type of pre-financing options do I have?

When you set aside funds to pre-pay for your funeral, the funds and/or accounts do not remain in the funeral home’s operating account.   We place the funds into an irrevocable burial fund.    These funds cannot be withdrawn for any reason prior to the death of the person for whom the pre-arrangement was made.

There are several options for paying for your final expenses in advance, each with varying advantages and disadvantages:   Preneed Insurance, Funeral Expense Trust, Savings/Money Market, Certificate of Deposit, and Traditional Life Insurance/Annuity.

The most common options we use here at Fogelsanger-Bricker Funeral Home:

• Certificate of Deposit.  Funds will be invested in a certificate of deposit at a local bank. 
• Preneed Insurance.  Irrevocable burial insurance is purchased from a reputable  preneed insurance agency.         

Whether you choose preneed insurance or a certificate of deposit:

• Death benefits are protected from federal income taxes.
• The funds are considered an excluded asset when attempting to qualify for Medicaid/SSI.
• The funds are protected from Probate, lawsuits and creditors.
• Benefits are paid directly to the funeral home first.
• The plans offer growth to protect against inflation.

 Any death benefit in excess of the funeral costs will be refunded to the estate.

Another option for you to consider is:  Assignment of an Insurance Policy.  You may assign proceeds of an existing insurance policy to finance your funeral expenses by transferring ownership of the policy to the funeral home.

Our funeral directors can sit down with you and discuss your options and help you decide which plan is best for you.