PHENIX CITY, Ala- We wanted to pass along some tips to you if you or a family member decides to prearrange a funeral. We consulted Vance Memorial Chapel in Phenix City, a highly respected funeral provider in Phenix City.
Lance Brooks, vice president of Vance, says where the money you pay for prearranging goes makes all the difference. His company puts it into insurance.
“If something were to ever happen to a funeral home, you still have your money. It’s still in an insurance policy, and you’re still the owner of the policy. The second thing would be if the insurance company that we insure through, if anything ever happened to them, there’s a state-guaranteed fund. So that insurance policy would still be in force and probably just bought up by another insurance company,” says Brooks.
Brooks adds that insurance policies are portable, and so consumers have the option to transfer their prearrangements to other companies if they are unhappy or decide to move to another part of the country.
Report problems or concerns about your prearrangement provider to the state’s department of insurance. Brooks adds that situations where funeral homes and cemeteries bankrupt are not the norm and that preplanning is still valuable because it can save families stress in times of grief.
Finally, preplanning locks in current prices. Prices cannot rise in the future for people who have a prepaid plan in place, and they are able to pay monthly.