Death is a reality we live with, and have to plan for. But, planning for a funeral can be expensive. Here are tips on how not to overspend when arranging one.
Nowadays, funerals have become an expensive affair. Most families end up in debt due to overspending on the funerals of their loved ones. This makes considering a funeral policy, together with your family, a necessity. “Like any other major event, you need a plan and budget in order to keep spending in check when arranging a funeral,” says Lee Bromfield, CEO of FNB Life.
Here are tips on how you can avoid overspending:
1. Research the cost of an average funeral. This includes the undertaker packages, food, tent and table hire as well as unveiling benefits. This gives a basic understanding of what kind of cover you can afford.
2. Talk about death with your loved ones. Discuss the kind of send-off you and your loved ones would like, as well as your policies. This eliminates any confusion with regards to how you each want to be sent off.
3. Don’t be pressured by society. Don’t allow people to force you into arranging a funeral that you can’t afford. This will only leave you in debt, and compromise your family’s well-being.
SEE ALSO: Why you need to get funeral insurance
4. Review your policy annually. This helps you to keep track of how much you’re paying, get benefits and adjust your policy. Failing to review it may leave you with a policy that will not cover the funeral you want for your loved one.