Posted: May 24, 2008, 1:23 AM CST
I saw this news clip as well, and truly I think that its wise to take care of it and make your own decisions. When I was working at the funeral home this was my job - selling prepaid funeral plans. We plan everything else in life - so why not plan for something that we know 100% is going to happen?
I've no idea how it works with Costco though as I personally won't want to "house" a casket for goodness knows how many years ........ I personally plan on being here for a while so I would rather have it made when I need it.
Do some shopping around .... many things can be prepaid and that freezes your price at todays market ......... the average cost of a funeral doubles every 10 years ... so if you can pay now - it's well worth it. Not sure about every province but for B.C. some of the following can be prepaid (guarantees the price): casket, funeral services cost, viewing, reception room, cremation fees, urns, and stationary. Items like flowers, clergy fees, music, food etc. would be at market value.
Don't forget about cemetery costs as well - some of those expenses ie. the plot can be bought in advance as well. The burial fees etc. are charged at the time that the services are rendered.
Some people buy insurance policies to help cover their funeral costs ..... if there is not an actual contract written with a funeral home then fortunately it can be applied to cover the costs - but unfortunately all costs would be at current prices for that year.
If you can afford to - pre-plan ....... eventually you're going to have to pay one day anyways - so why not do it your way???? As well - DISCUSS your wishes with your family members ..... remember the funeral service is more for them and truly an important part of the grieving process (saying goodbye). Have you papers in order (where are your bank accounts, assets, friends and family listed) and let someone know where that information is. Do you have a Will? Have you planned for your Estate? Its about being prepared - its not morbid - doesn't mean that you're going to keel over the next day and truly family members so appreciated not having to guess at what their loved ones would have wanted. Its all set out in black and white ........ please though, make sure to discuss everything beforehand. Nothing worse then seeing family members squabbling over some of the arrangements - its emotional enough time as it is ........ its a gift to make it easier for your loved ones.