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PRE-PAYMENT OPTIONS
There are a growing number of options available to the public today when seeking to preplan and prepay their final wishes. We can tailor a plan that's right for you. From single pay plans to automatic monthly bank withdrawals designed to meet anyone's budget concerns, our staff would be pleased to outline the choices available.
Pre-paying can protect you and your family from future inflationary trends while providing the piece of mind of knowing that they will be cared for after you are gone. If you would like to request an appointment after you have reviewed this information, we would be pleased to have one of our staff go over any additional questions you might have. What is a Preneed Funeral Plan? A preneed funeral plan is
pre-planning your own funeral, recording your funeral preferences, and sometimes
even paying for your funeral in advance. If you choose to prepay for your
funeral it is usually funded through a life insurance policy. Many people see
this as an extension of will and estate planning.
Why do I need to preplan? To ease the pain of your loved ones
who are responsible for your final arrangements, and to lock-in the price of
your funeral, protecting your family financially from rising funeral
costs.
How will I pay for my funeral plan? Anderson's Tribute Center offers a variety of payment plans. When you use an insurance plan as a
funding vehicle to prepay your funeral you are covered from the day you make
your first payment. If in good health, your funeral will be paid even if you die
the day after you signed up.
Can I cancel my plan any time? Yes, you have a 30 day
free-look period. Canceling during this time results in a complete refund of all
premiums paid. After 30 days, if the policy is not irrevocably assigned to the
funeral home, you will receive any cash surrender value accrued in the
policy.
What happens to my plan if I move? You can always change the
beneficiary or the assignment of the policy. If you decide to transfer the
assignment on your policy to a funeral home near your new home, they will have
the option of honoring your old contract, or writing a new one based on the
current value of the policy.
Can I transfer my plan to another person? No, since your plan
is funded by life insurance it is not transferable to another individual.
Will my funeral be paid for if I die before I finish making
payments? Yes, as long as your policy was issued as a standard plan.
Otherwise, the death benefit will be limited during the first 2 or 3 years
according to the terms of your policy.
What happens to my plan if I die away from home? The death
benefit will be paid to the beneficiary designated by you, unless the original
funeral home performs the services.
What happens if my family doesn’t want to use the funeral home I
chose? The death benefit will be paid to the beneficiary designated by
you. In turn the beneficiary can assign the benefit to the funeral home
performing the services.
What happens if the funeral home goes out of business? The
death benefit will be paid to the beneficiary designated by you.
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