Frequently Asked Questions About Funeral Pre-Planning

---

Losing someone we care for impacts us deeply. When dealing with the sorrow of loss, community plays an important role. By gathering to celebrate your life, your friends and family can share the burden of grief with one another and begin to heal.  Planning the details of your final arrangements isn’t about control. It’s about leaving a gift to family members who may be too overwhelmed to make decisions in the moment. If you pre-plan your funeral service, your loved ones can rest easy knowing they’re doing what you would have wanted.

 Many people believe they are too young to worry about funeral preplanning, regardless of their age. But there is no right or wrong time to preplan a funeral. While your funeral may be many years away, you can take this time to decide how you want your life to be celebrated on your terms. You can take the time and consideration to create a ceremony that matches your life and how you want to be remembered by your loved ones. 

Nope! With our funeral planning services, you are not making funeral arrangements with a particular funeral home. Our funeral planning services and funds can be used at any funeral home of your choosing AND you can change which home at any time. You have the flexibility to determine where the funds go and how they are used. This also allows you to compare the costs of multiple funeral homes and pick the one that is best for you and your family. 

Like funerals, the cost of prepaid funeral plans can vary considerably. Your funeral should be designed to fit your personality and the needs of your family, and how much it costs will depend on those details. A large, catered gathering with extravagant flower arrangements and a funeral procession can cost more than a simple, intimate family gathering.  When you preplan, you save money, no matter how simple or elaborate your services will be. As inflation increases, the cost of funerals rises as well. By prepaying for your arrangements, you lock in your rate and avoid your family members having to spend more when the time comes. 

You are able to prepay for your funeral by using a guaranteed issue life insurance policy with a single pay, 1, 3, 5 or 10 year payment terms. 

When you pre-plan with a funeral home, they typically take your money and invest it into an insurance product called a funeral trust.

With our plan you purchase a limited pay life insurance contract to fund your funeral expenses. Additionally, the insurance company provides an increasing death benefit to offset price inflation. The rate is is currently at 1.9% per year but is subject to change. Example – if you took out a $10,000 death benefit 10 pay policy and were averaging a 2% per year increased death benefit, at the end of 10 years your death benefit would have increased to over $12,000

This policy is guaranteed issue for people between the ages of 50-99 who have not in the last 12 months been confined to a hospital, received hospice care or been informed that they have a terminal illness or life expectancy of 12 months or less.

The payment plan options available do vary based on your age:

1. Single pay 50-99
2. 1 pay 50-99
3. 3 pay 50-90
4. 5 pay 50-85
5. 10 pay 50-80

The policy provides for a 30-day free look period from the date of receipt. To ensure that you have adequate time to receive and review your contract, you are allowed 90 days from issue to make any changes to the Policy. 

You may convert your Policy to a paid-up status. For the 1-Pay plan this may be done at any time during the first 11 months. For all other multi-pay plans this may be done during the first 12 months. In all cases the payoff amount will be the single premium amount, less premiums paid. If the original payment plan is a 1-Pay, no fee is charged to use this feature. For all other multi-pay plans, no fee is charged if a payoff is exercised during the first 90 days. For payoffs of 3, 5, or 10-Pay plans exercised on days 91- 365 a $150 fee is charged. After month 12, contact Customer Service for the payoff savings calculation. 

Yes. Technically, traditional funerals take place with the deceased’s body present, but memorial services after cremation are very common today. If you still want a traditional funeral, you may, and have the cremation take place afterward.   

The cremation process involves placing the deceased's body in a high-temperature chamber, reducing it to ashes. Any metal objects, such as dental fillings or pacemakers, are removed prior to cremation. The ashes are then placed in an urn or other container for final disposition.

At the time of need, Legacy of Love offers your loved ones independent concierge service which includes:

1. Being available to guide and assist your family through a difficult process
2. Conveying your exact wishes to your family and chosen funeral home
3. Acting as a guardian for your preferences
4. Preventing emotional overspending
5. Facilitating the final claim process to ensure proceeds are delivered timely
6. Reviewing the funeral bill and answering any questions for your family

 Call 1-800-977-0996 to get assistance. 

Legacy of Love’s funeral insurance policy is protected and exempt from Medicaid consideration. 

Like people, every funeral is unique, and we will help you plan the best goodbye for you and your loved ones. When you meet with a member of our advanced planning staff, we’ll listen to your needs, you’ll be guided through your options, and we’ll help you come up with unique ways to add personal touches.   Whenever you are ready to begin planning, or you'd like to learn more about advanced planning, reach out to us at (800) PRE-PLAN.